The herald and news. [volume] (Newberry S.C.) 1903-1937, 1916-10-10

has got to &c QOne now IN way luds
will deserve the confidence or the
world. American character as well as
American enterprise is going to be
put to the test. American ideals are
for the first time to DC exhibited upon
a worldwide scale, American pur-
poses are going to be tested by the
purposes of mankind and not by the
purposes of national ambition. l say
that it is pity not to be young liz
tuese days.
"pl:ss It IS these days for an amer
lean to be alive, and to be young must
DE very heaven, because all the des-
tiny into whose great fruitions Amer
jca has promised to lead the world Is
now open to her leadership if she will
see and take the way. All OF this,
gentlemen, is in the abstract, but in
the concrete it means very interest
ing variety of things and l want you
to know that it ought not, that it
does not in my conception, make
any difference who does these things
provided YOU see to i that they are
done But America will never for
give herself is she does not do them.
And l want you to believe me when
l say that certain things that have
recently been accomplished by legis-
lation have been accomplished with
these ideals and purposes in mind.
No Longer Shackled.
Until very recently, l venture to
say, most American business men
spoke Of the antitrust laws with a
curse under their breath-Just as
men think OF shaekles, just as men
think OF being deprived Of opportun,
ty. And We heard q great deal Of
talk about big business getting no
sympathy. That was not the truoble.
Big business has plenty of sympathy
hut bad business ought not to have
had any sympathy and what our laws
stood in need of was the definition OF
what was good and what was bad.
What they stood in need of was dis
tinct expression of the idea that was
hack Of them. That idea was merely
this, unfair competition is intolerable.
But if the competition is fair the
scale upon which it is carried on is
not only of no concern to the lawma-
kers but the bigger the scale the more
splendid the result-aIWays provided
it is conducted with fairness and
honor and openness. Therefore an
attempt was very properly made to
define what was fair and what was
unfair competition; to provide tri-
bunals which would distinctly de-
termine that was fair and what was
unfair competition and to supply the
business community not merely with
lawpers in the department OF justice
who would cry, iStop!' but with men
in such tribunals as the federal trade
commission who would say, Go on.
who could warn where things were
going wrong and assist instead OF
checking.
Some of these days gentlemen.
when the great tides of business are
running free in this country you will
look back upon the last three years
and say, That was when the chan
nels were dug for this great tide.
Trusts Years Verdict,
GAS compared with the verdict OF
the next 25 years I do not care a
peppercorn about the verdict OF 1915,
because 1 know how those laws were
COQCSlVSu. AuOW SIAC1A RO1 PSSS e%AAN
know they are already filing their
purpose and I call to you to witness
that never before in your life time
was credit so individually available in
this country as at this time. Individ-
ual credit, not eornered credit-credit
that could be had if you had assets
and good commercial paper; credit
that could be had' without favor;
credit on which the volume Of cur
rency would instantly respond; credit
which could be sustained by re-
sources, by gold reserves which could
be modified anywhere in the coun-
try.
America is to be congratulated
upon having achieved business
emancipation. Now it is up to you
men and it is up to all business men
in the United States to make some
4L;,o of - ond if II non NOT he made