The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1937-04-21
LET US BE FAIR TO THOSE WHO
FURNISH THE MONEY

It is not popular nowadays to speak a
good word for capital or capitalists-in
fact, in some sections of the country 1t Is
probably positively unsafe to suggest that
any man who has money invested in an In
dustry or business enterprise, Thereby sup
plying employment and wages for num-
Der of other citizens who do not have the
capital to own their own industry or busl-
ness) is other than scOundrel, or at least
an economic royalist" or prince OF
privilege"
However, in the South, in spite of de-
velopments which have most certainly not
improved the section, we believe that only
q fraction of the population is affected
with the hydrophobia of radicalism, and
large majority of the people have either
recovered, or are on the road to recovery,
from a mentally unbalanced condition IN
duced by the political conditions OF the
past four years. Therefore, this newspaper
still believes it worthwhile to preach to
the people according to the dictates Oh san
ity and common sense and American pa
triotism and to aid the public (even though
our contribution be very smalD in return
ing to straight thinking by supplying such
information as may come to hand. with
this idea in view we venture to quote from
the Charleston News and Courier, which
says: s..
When times are good and corporations are pay
ING dividends there are employees TO say that lap0I
is not getting it's share As long as cotton mn
runs. in good times or bad, its workers get tneh
nav envelopes. Often years pass, sometimes h'e Vi
six and stockholders get nothing
II is probable that at least half the money IN
vested in South Carolina mills IN the last forty
years lost by the capitalists, little ana big' "hC
let the intelligent mill worker in Spartanburg
Anderson Greenville Columbia look about him
He will see that one in two if not in three OF
the mills in his neighborhood has at one time OF
another time undergone reorganization, whcf
means, so far as the original builders are con
cerned, that the mill would as we'll have burned
without insurance.
For every newspaper now published in South
Carolina there are probably ten, if not twenty
dead, and the owners not the reporters, printers
pressmen, salared men, lost the money.
II factory closes the workers lose their jobs
but the owners lose the factory.
Now and then is concern that succeeds through
half century or longer, but it is rare exception
Nothing is more absurd than the notion that
the returns from invested capital are high. long
time would be required for the corporations il
South Carolina to recover all that they have lost
since 1920. The property of many of them ha:
gone forever. &C.,. ..... ..
The same is true of the land-owning farmers, tn,
merchants the bankers. Whether the aborer get:
much or little he gets it as long as the employing
concern goes on. .......
The foregoing supplies foundation fol
some hard thinking, for some honest con
Sideration of our Carolina economic prob
lens. All informed citizens know tha
what the Charleston newspaper says o.
the record of industry in that State is true
and similar record has been made il
North Carolina, and throughout the coun
try, too.
The risks and losses of capital have
never been exaggerated, for one very sim
pie reason (there are others) and that il
that no citizen is opposed to brag about hi
personal or business losses or about failure
to succeed with an industry or business.
We. have many times heard the state
ment that IS per cent. of citizens engagin,
in retail merchandising in this country fai
at some time or other. We have neve
heard the statement disputed. The NOR
tally in industry has been very high. W.
don't know what the figures would show
The man who started business or in
dustry with his own and the capital of hi
friends or the public, has always take1
long chances in this country, in spite of it
natural advantages for building up busi
ness and industry and in spite of the amaz
ing growth and development of the natior