The Hattiesburg news., 1916-02-03
Tells HOW
TO Benefit STATE
ABOLISH THE ZEE SYSTEM, HE
SAYS, AND THEN ENACT SANE
AND EQUITABLE LAWS.

Meridian, Miss, Feb. 3.-"If we can
in securing the abolishment
Of the fee system, and the enactment !,
of sane and equitable laws, we can get
plenty of capital in Mississippi, at 9
per cent, where we cannot now bor-
row it at 16 per cent" declared Chair
man Cliff Williams, in report to the
executive committee of the Mississip- ,
ri progressive league.
Mr.. Williams is coming to Hattles-
burg on Friday, where, at II O'CLOCK
in the morning, at the Forrest county
court house, he will make an address,
outlining the objects and purposes OF
the league.
Continuing. Mr.. Williams. in MS re-
port, said:
/ "Fifteen or more years ago Writ
| Adams became state revenue agent /
and took the cream in fees from Dig
corporations and died millionaire
declared mir. Williams. Now comes
along J. c. Johnston, who is working
on the next strata to get his snare Oh
% per ceEt from the people and fol
lowing him, unless the law is changed
will come the next man that will at
tack the next strata and that is the
earth beneath your feet owned by
the farmers. some evidence of when
Is already visible, which means that
you will have to dig down IN your
pocket or go in debt to fatten the
pockets of public servant, while you
who created the law and the office,
are suffering for the very necessities
Of existence
Mr.. Williams said that combinations
of capital were necessary for the de-
( ! yelopment of business. He did not
l. mean the entire control of business by
n capital. the formation or methods o.
I 4 trust but that the combination OF
|, several men, putting their money to-
; yether, known as corporation, should
lhaye equal rights in the law and be
# guarded with the same care as an in
lividual There should be regulating
laws, the speaker declared, but no
II avs so drastic in effect as to be prac
ticaily confiscatory, making it impos
sible for these corporations to exist.
To illustrate his point Mr.. William
's' said that suppose a farmer had fiv
boys. Two of them went to work o.
Is salaries and the other three, afte
working for a while, started bus
IL ness by putting their money together
The father required each of the boy
to pay him five per cent of their eari
oe ings. After a while the three who ha
combined their money began to pro
per and get more returns from the
vs. combined resources and the other tw
working on salaries complained to tt
OK father that they were paying p'
cent, the same amount as the other
~ and they thought inasmuch as the OF
ers had more money they should p;
I. more. The father goes to the thr'
rye sons and tells them they must
crease their percentage, to which th
vs. agree. In a short while the san
thing occurs and the three boys S
w. that they are going to be forced
pay more percentage and decide
al, close up their business and move
another place, where they will r
be compelled to pay more than th
tut- pro rata share. This he said was
history of Mississippi with corpo
ent' tions and that they were being tax
and harassed, until they were movi
ct to places where they would not ha
to bear the extra burden.
al Mr.. Williams said that charter
d. corporations had fallen from $500
veil, 900 in 1912 to $3,OOO,OOO in 1914, OF
total loss of $26,0OO,OOO in three yea
'ud1 One special item that has especia
attracted his attention, he said, "
the history of the Sanoody Valley ri
and road, which represented an inve
ment of over 100000. Money for
f. operation of the road which was br
by local people, had been borrowed
Dlle the East and when the financiers
fused to renew the loans in Mississ
X, pi because of unsafe laws, this re
was sold for $4,000.
NJ. Williams cited another instar
lder of where a farmer friend of his v
about to loose $1,000 worth of pr
MRS. erty, because a loan of $4,000 borr6
ed out of the state would not be
artz nened nd no money could he b
rowed on real estate in MississiI
. n. under. pre- cnt conditions.