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MR. BRYAN'S SPEECH.
The Democratic Doctrine Preached
.By The Great Nebraskan In His
New York Speech.
iI his great speech in New York on
Jast Thursday iiight, Wmti. .J. Bryan,
-who had just returned from a trip
!around the world, said among other
Outlines a Peace Policy.
I venture to suggest that we may
-not. Oily -promote peace but also al
Va11c4e oIrI Commi1iercial interests by an
notmeig ats a nitional policy that our
navy will Inot be used for the collee.
bioii of private debts. Whilo proteet
inlg tle lives .f our. citizels every
wlere an1d guranteeiig the persoial
zsaftey ol' all whio mwe allegiance to
,oir flag, we should, in my judgment,
-ann1olice that persons engaging inl
business anid bolding property in otlier
lands for business purposes must be
mubject to the law of the countries in
whili they eaa.ge inl busiiess enter
prise". MNiiy prolitable f'ields of inl
Vest.ment are now Closed heeaise tlie
people of, ift simalletr natiolls 'are
a.fn1id I that nll inlvestillelt of' foreign
-capital will be ima,le ani exeitse for a
0 1ur Ilationl lias lost pI'stige ratlier
'hlan g-ainled it by mllr experimlenlt inl
colonia lisi. We have given ihe mon
archist a chanc4iev 1t ridieule our I)e
lirat.ini of Idepedii(ence, and the
scoffer. has t witted us with ineonsist
tecy. A tour tirougli the Philipine I
i.slands has deepened the conviction
that we slouhil loseI no time in an
1o11nil".ig ou lim 1pose to deal with the
'VilipinlWS Is we dealt with thie Cliubans. I
11v"N ry vonlsidenationl, (101.1nerVcial and4 (
political, letads to this conleusion. 1
Snthi grIond as we may need for
coaliig station or for a naval base I
will le glaIlV c.4,needed by the iFili- 1
pilo-. who simply desire an ilIpporlltuill
ity to w(Irk (lilt their own destinly, in- I
spir,ed bY 1ur1 v.xamph10. anld lidvd by i
our :1i,vice. In su1 far as 'or 4'1ur1ts I
hae11 1 14 bvtn din.e toi wl the \.ar 1 edu
'u ea' li eii 5(iltC' i li i ef~ itI | a lt r id
I i , !IIt ' I''4 - II iti I I v I - n I . Isva I I~ Ila I
, I,i I I I ' li i l "I CI Ii IIppIi . So s-o as 44.. h l l
nl' e a it sl i n .Ii rlis e at n
tit w e an- d1 4i 1t olnailism im
pos;1ble. Ift' we iite d it, lihol tli i
ts subhjocts we wioi lot diare toi du
'eate ilhell; l v n wihll dt li-.
A A ilreelablence mu1t h assmed t
. f we 4cmilemplatv iniversal educa- s
titnl inl thle PIilippin es. .\s somn ats i
.ppiltila tity lels I Sha111l discul ss thle t
Plillippineles l i morti l il loe ai t len-th
-an I Shall alsol refer to Enlish rlie <
in 1t1iln , for it throws light uoll lons f1 1u
mvwn problems inl 0he Phllilippinles, bilt I
Ulese slibjets nanist hie reserved uitil
;i eni speak lia in t detail. I
Arbitrate Labor Troublest i
soeiety, mIlorrs il somietthitg at. t
tialike as we(.) as hela employer aind emil- t
ployees for- dhere -anl bie nil eonsidera- I11
blii strike wi(lhout emnsiderable loss to
hepublic. Society, therefore, is,
ustiilled in delianlding. thlat the
sha,llt he set tled'vi eacfutmensiI a
'GermentB jn ctilori Wreat-.
m('hto i etepnt of anhu skiti i indusn
-eti o3fit' own mtio, in' s titue ani
aptnp 1t' enohrtie~ t filutling.( If there
i tIA, iopus sbisi n tll ~itintiga-11 1
t'n,j itis noV5 t til ecessaryll .'h tht there(1
decisin ra li fui~'ll ind fai anvstiga
*.:to wvil of' ha'lst' e vtl iveaebing
.1 ant a settleen otl nvg Ilt h
.il iornmentay Injut1itn atron.I
sIi'g refern e s sio tlaor estdin
m'iaon of that ~viskn byi (oven
mein. bylte ttinunctiCn A the mo-ain
pur acl,e thewi ito eade rial
dn uiheity.ll rTet prolng ais te
.<ormoesy utipfied hnrUil acty,a but
Jury a tjury owuh' o t lie mdehnie has
'areefe's Itowemc, of th rae andt
~te lsaore tnoke lin Thse who 01)-ik
'othe eihftho ubjr wduyd bet covenry
mnhof udb the stiadwithilac of a
oyseml of abtation, bromnse hrbitre
'onth fwodvry nms epared. teve is
Jast frothir wife and tregatothe
laor i chian, he thge grorwan
eihour dayis is lan ineaseona
f~aor bete theerkn meanscnten
bio ..Tebnft ftelbrsv
wiorksliop. Then, too, llore is (e
aidiled of the laboring man now than
l'oriierly. Ile is a citizen as well as
it lablorer, and must have time for
tle stilIy of public questions, if le is
to be an intelligent sovereign. To
irive him from his bed to his task
iii(1 front his task back to his bed is
to reprive the family of his compan
ionlship, society of his service and
politics of his influence.
Trust Question Is Paramount.
While men niay differ as to the re
lative imnportance of issues, and while
the liext Congress will 'lgely shape
the lines upomn whicli tle coining Pres
ileitial caipaign will be fought, I
thing it ia fe ti sa.y that at the Ies
ant the paramount issie in the minds
fi a large majority of the people is
thie trust issue. I congratulate Presi
lent Roozevelt upon the steps
which lie has taken to en
rorce the anti-trust law and
fny gratifleation is not lessened
)y tihe fact that lie has followIed the
I)emoerat ic, rather than the lepubli
14an, plafformn, inl ever-y adlvance hie
is made. It has been a great em
'arrassmient to him that the platform
Ipon which lie was electe(d was filled
viti praise of the Republican party's
'eord rather than with promises to
'eforiim, even tile enit ihulastic support
,iven himi by the Demiociats has en
ible(d the chIamipions of tile trusts to
aunt him with following Denocratic
cadershlip. He has probably gone as
ar as Ie could without incurring the
iostility of leaders of his own party.
I'he tirouble is that the Republican
lady is nlow inl a position to apply
ltYeetive an(I thorough going reforms,
>ealnse it. has built up, through spe
iIl legislation, the very abuses which
iwied to b)e eradicate(.
Before any iintelligent action cani be
aiken against the trusts we must have
I defiiition of i trust.
Bevatnse no1) cor-poritionl hais tili abso
uWe and1( complete mlonlopoly of anly
ilpolrt1n11 prohiet, the apol;g.ists for
lie tr uis st-eeim to insist I hat Iher
ir1e il reality no trusts. Oters inl
i-4 that it is ilip ssible tI le isla e
tnlillst such t rists as may exist witlh
lint doin., in.ijuryf to legitiiate hiusi
ess. F"or the puurpose of this discuis
ion it is SutTicieit to diraw tle linie
1i 11 point wheiv e vomipetition censes
She e'ective and to designate as a
rust aly corporation which controls
) miiuch11i of the product of, any article
tIat it cai Ilix the teiims mid condi
ions ot, a sale.
Legislation which pievents a imoin
pl)()Y not only d(oqs nlot injure legiti
ante business, but actually protects
M'gitiiate bisiness froni injury. We
te indebted to the younger lockefel
nr for ani illustration which makes
his (list ilction cleatr. In defending
te trust system he is pioted tas saying
tat as the American Beauty rose can
ot he hought to perfection without.
inching ot iinet y buds, so that the
ne-hundredith bud cn-il receive the
hill sit rength of the brush, so great
*ilustiali organiizatiolns are impos
ible wiithbout the elimination of the
ma1ll1er uones. It is a eirnel accuiirate
escriipt ionii of trunst meti Ihiods. '['le
)emo'ra tie lparty chiaiimpions thle
aus ofSt uthe ii liine tty'-nh i enterprises
~l chi ar inieniaced, t hey miust inot be
aeri fired that oneuit great comb)inat ion
There must be no miisfakiing of the
~Sue' an td noi confuisiing of t he line of
aille. 'Te pllicy ol1' the t rast miag
ia Ies will be to inis~it upon)1 'reaison
ble legislat ion, '' anid thlen they wiill
ely' upon their powei%r to coirrup)t Leg
sloatures and init imidate executives to
wuevenit the a ppl icat tin otfii any eme
lies which will interfeire with the
rnst s. Our imotto miiiust lie a private
noniopolyv is inudeteiisihle an id in tolera
de, '' and1 our pl ani of at tak mutst con
empijlaite tlie total and compillete overi
iid tist u*y.
Harsh Measures arc Needed.
WXe iieed not qhuarrel over' remefdies.
We' miust. show onurselves wvilling to
aipproiit anyl~ reimedyv wVlhih prlomTises
abhstaunial ad vantage ;lAto thle peoplte
ni heir wa rfare againtst miontopo(ly.
someiuth1ingi is to be1 expected frioml thle
nforai(Qi'cemet of' thle criminal claulse of
lie Sherman anuti-t rust lnaw, hut t his
awi must he enf oiced, not algatins~ta
~ew trunsts~ as at present, hut against
i trusts and thle aim must be to im
rison1 the guilty, lnt meely to reo
over a fine. If the criminal clause
s not going to lbe eniforced it ought
o bie r'epealed. If imprisonment is
00 severe a p)unishlment for the enm
neatly respectable gent lemon who rob)
'ighity millions of people of' hundreds
>f millions of dollars annually, tile
anguage of the statute ought to he
hlan1ged1, for nothing is more calculat
di to breed anuarchy than the failure'
o enforce the law against rich crimi
mis, while it is rigidly enforced
gamnst petty3 olTfenders.
But it is not' suificient to enforce ex
sting laws. Tf toln colrportionls, Colt
pining togot her ini restraint of trade
en threatenel with punishment, all
they have to do now is to dissolve
their separate corporations a.id turn
their property over to a now corpora
tion. The new corporation can piro
ceed to do the same thing that the sep
arate corporations attempted and yet
not violate the law. We need, there
fore, new legislation and the Republi
can party not only fails to enact such
legislation, but fails even to promise
it. The Deiocratic party must be
prepared to propose new and eflicient
Recent investigations 'have brought
to light the fact that nearly all the
crookedness revealed in the manage
ment of our large corporations has
beenl (lire to the duplication of direc
torates. A group of men organized
Or Obtained control of several cor
porations doing business with each
other and then proceeded to swindle
the stockholders of the various corpor
ations for which they acteo.
Many of the trusts control prices
by the same methods, the same group
of meii secure control of several com
pting corporations and the manage
ment is thus consolidated. It is worth
while to consider whether a blow may
not be struck at the trusts by a law
making it illegal for the same person
to net. as director or officer of two
corporations, which deal with each
other or are engaged in the same gen
Urges a Federal License.
A still more far-reaching remedy
was proposed by the democratic plat
form of 1900, namely, the requiring
of corporations to take out a Federal
license before engaging in Inter--state t
Commei1r'Ce. This remedy is simple,
easily applied and comprehensive. If
corlorations were required to take out
a Federal license, tihe Federal govern
ment could then issue a license upon
terms and conlditions w1hlch would
protect the public. A corporation dif
rers from a human being in that it
has no natural rights, and as all (if its
riglts are derived from the statutes
it cII be limited or restrained accord
in. as I the Ipubli.c welfare nmay reqIuire.
'Ihe c ol-41 whicb v- cIgess hails ove.
in te r-sttv cmm e r1(ev is ComIIIple Ie. No j
In C lonl.g he eedited with sin- t
eerity it it oideilis the trusts With I
words only and thlen permits the
rusts to employ all the instrumentali- I
ties of Inter-state commerce in the
carrying out of their nefarious plans.
It is far easier to prevent a monopo- r
ly than to watch it. and punish it, and 1)
this prevention can he accomplished I
in au practical way by refusing a Ii- T
cense to any corporation which con- n
trols more than a certain proportion a
of the total product-this proportion a
to he arbitrarily fixed at a point which a
will give free operation to competi- t
Tariff and Trusts Allied.
The Tarift qtue-tion is very closely (
allied to tire trust question and the re- f
duction of the tariff furnishes an easy c
mneanis of limiting the extort ion which r
tire trusts can practice.
While absolute free trade would not
niece'ssaril mvirake ai trust impossible, I
still it is probable that few mnanurfac- m
uring est ablishmrenrts would dare to
cnter inito a trust if' thre president were
emporcwer'ed to put. upon0 thre free list I
articles competing with those eon
tr'olled by a trust. I cannot permit i
this opportunity to pass without ex
pr'essinrg thre op)inion that tIhe princi- I
piles embrlodied ini the pr'otective tariff 1
havi e beenr thle fruritful sorce of a i
great deal of political corruption as
well ars the supjport of niany of our<
rmost inicinitous trusts. It is dil1cuilt
to conudenn thle mnaniufac'turris for
uunit ing to take advl~ant age oif a high
iariff schetduile whecn tIre schedule is
f'ramernd tin the t heory t hat thre induis
tis neetd all thle pirotect ion given anti
it is riot likely t hat thre lie 'eficiaries of
thIese schedules will consent to their
reduoct ion' so liong as thre pubrlic wa it.s
for thle taii ff to be ireformedtc by its
But toie of tire wourst fetu Ires of a
tari If, hevied riot for revenue lbut for
Ite arvowed puiirpose of pirotel.ctioni, is
that it fosteris thle idea t hat men
should rise their voct es to advance
thei r own Iinianrcial inrtere't s. For a
grenrtion tire " fart' ' has been fried
out of the mnanufaeturrers by the Rie
publicain campaign comomit tee, and
theni thre manufarcturers haive been re
iimbuirsed by legislation. With the
pubrillic conscience edurcated to believe
thiat this open puirchrase of legislation
was entirely proper, no wondter that
insurance companies have used tIhe
money of their policy-holders to carry
elections-no wonder that trusts have
hastened to purchase immunity from
puinishrment with liberal donations.
How can we drawv a moral line be
tween tire Senator or Congressman
elected biy the trusts to prevent hnos
tile legislation and tire Senator or
Congr'essmian kept in congress biy thre
ma nufactuurers to secure friendly leg
islat ion?9 The party which justifles
tire one form of bribery cannot be re
hiedl upon0 to conidemni thre other.
Now'B the Time for Tarifeform.
We have opened up
building just below ou
We have made a su(
giving good weight - ai
We know that we will make a
tem to wit: First class goods, ful
dead dollar. We have a full line 4
Oliver 0. Smith and Mrs. Fred.
We will continue our Grocery S
Mr, Lawson Bobb will have charg
Come where you can get what
iere than any where else and kno,
There never was a time when tarif
eform could be more easily entere(
ipon, for the inanifacturers by sell
ng abroad cheaper than at home, az
nany of them de, have not only showr
heir ingratitude toward those wht(
uilt the tariff wall for them, bul
hey have demonstrated their abiliti
o sell in competition with the world.
Wants Public Ownership of Railways
The railroad question is also in
erwoven with the trust question
iearly all the private moiiopolie,
tave received rebates or secured othei
dvantages over competitors. Abso
ute equality of treatment at th(
ands of the railroads would go fat
oward the crippling of the trustc
md I rejoice that the president hai
iad the courage to press this question
ipon congress. While the law as if
vas finally distorted by the senate, is
ot all that could be wished, it de.
erves a fair trial.
Rate regulation was absolutely no
essary and it furnishes sonie relief
rom the unbearable conditions which
11evioulsly existed: but we m11ust not
orget tlat. the vesting of this enor,
)MuS power ill Ile hadiis of a (coml
lissionl app(pointed by tle presidenlt in
rOduces a new danger. In an ap
itive boai,) has the power to fix
ates, and( can by the exercise of that
ower increase or decrease by hun
reds of millions of dollars the annual
evenues from the roads, will not the
ailroads feel that they have a large
ecuniary interest in the election of a
resident friendly to the railroads?
.xperience has demonstrated that
xunicipal corruption is largely trace
ble to the fact that franchise corpor
tions desire to control city council
nd thus increase their dividends. If
hie railroad managers adopt the same
olicy the sentiment in favor of the
wnership of the railroads by the gov
rnment is likely to increase through
ut the country as the sentiment in
avor of municipal ownership has in
reasod in the cities. I have already
cached the conclusion that railroads
artake som much of the nature of a
lOnopoly that they must ultimately
ecome pub)lic p)roperty and be man
god( by public omeials in the interest
I' the whole community in accordance
w'ith the wvell defined theory that pub
iC ownership is necessary wvhere comn
et ition is impossible. I do not know
hat the country is ready for this
'hange. I do not knoiv that a major
ty of my own party favor it, but I
ielieve that na increasing unumber of
lie members of all parties see in the
mblic owvnership tihe sure remedy for
liscriminations bet ween persons and
)laces, anld for the extortionate raitem
'or the earrying (if freight and pas.
Would Have Dual Ownership.
li evinug, hiowever, that the opera.
ion of all1 the railroads by the federal
ro)vernmeflnt would result in a central.
zat ion which would allI but obliteratt
;tate lines, I pre'fer to see only tbh
runk lines operated by~ thle Federal
~overanent. and( the local lines by the
st ate governmnnts.
Some have oIpposedl this dual ow~ner
hiip as impracticable, but investiga
ion in 1Iuropse has convinced mec thai
.1 is (entirely pralct icale. Nearly all
he railroads of Germany are ownlei
>y the several states, the empire' noi
Wven owingli the trunk lines and yet
the Inter--state, trame is inl no0 wis
>bst1ructed. The ownership and oper
i.tions of the local lines by the sever
1i state governments is not only fea.
dible, but it suits itself to tihe condi
Lions existing in the various states
rin these states where people are rip(
l'or a change, the local lines can be
'3urchuased or new lines he built at
mnee, while private owvnership can con
inne in these states on which the peo.
>10 still prefer p)rivate ownership.
As to the right of the governments
~ederal and state, to own and operatc
'ailroads therie can be no doubt. If we
anl1 deepenI the water in the lakes and
mild( conn)Iecting canals in order tc
~hea pen t ransport at ion during half of
he year, we can bulild a railroad and
theCaponl rates the wvhole year'; if we
on spend several hundrend millions on
S.Co. Dry G(
a stock of new Dry Goods
r Grocery Store -on Mittli
:cess out -of the Grocery E
d measures and selling I
uccess out of the Dry Goods business
1 measure and short,profits, for we ha
>f Dry Goods, Notions, Shoes, Hlats-ar
A. Smith will have charge of the Dr,
tore where you will always find a fres
e of the grocery store.
rou want and save time, as you can c<
v that you will not be overcharged for
W. E. PELHj
We sell Sure Remedic
us is Reliable. We guai
faction with every packa
When your doctor wr
bring or send it to us.
preparing medicines. \
practices; we use pures
make our highest aim t(
wishes. Our prices are i
THE BANK OF
Capital Stock - -
Interest allowed at rate of 4 p
Special attention to farmers
small, none too large to enlist our
to meet and greet you. Call in.
A. G. Wise, President.
J.. F. Browne, Cashier.
Board of E
N. L. Black. A. H. Hawki
S. S. Birge. J. S. Wheek
C. P. Boozer. C. Y. Hunte:
Capital stuick paid in
Surplus . . .
Deposits . . . .
We do business an bu
We extend every coa
with safe and sound ba
Four per cent. paid o
H. C. MOSELEY, President.
pM. A. CARLISLE, Vice-Pres
THE PEOPLE'S N
Protection to Deposit<
DIRECTORS: Burglar I
GEO. JOHNSON'E. Polt an
JOS. H. HUNTER. We want
R. L. LUTH ER. We invite
JOHN B. FELLERS. ciples.
W. P. PUGH.
G. W.BBOWERS. We recei~
IH. C. MOSELEY. semi-annu
in the Paysinger
lusiness. We d
roods at a small
as we expect to use the s
d rather have a live dime th
r Goods Store.
h stock. E. Clifton Smith and
>me nearer getting what you want
-IE SMITH CO.
ks. What you buy of
rantee Absolute Satis
ge sent out.
:tes your prescription
Dur main business is
Ve allow no slip-shod
t medicines only. We
carry out the doctor's
Newberry, S. C.
TY, S. C.
- - $25,000,00
- - 12,60.'00
er cent. on time deposits.
accounts. No account too
best attention. It is a pleasure
G. Y. Hunter, Vice-President.
Hunt, Hunt & Hunter, Attys.
ns. P. B. Warner
er. J. F. Browne.
r A. C. Wise.
. . $ 50,000.00
. . 25,000.00
. . 235,000.00
siness pr inciples.
n deposits in Savings
re Proof Vault.
J. E. NORWO01),
W. W. WHEELER, Cashier.
CEO. JOH-NSTONE,, Attorney.
A TIONA L DANK,
TY, S. C.
~rs . . $53,500 00
nd Fire Insurance.
I prompt attention.
sonservative business on Lusiness p
- SAVIlNGS DEPARTMENT.
4 der ocent interest allowed,entyfro