Newspaper Page Text
THE ELECTIONS AND BUSINESS
Wellesley Hills, Mass. Nov 4, 1922.
In our interview this week with Roger
W. Babson, the question of what ef
fe):t .the. Congressional elections will
have upon business, brought from him
-the following statement:
"I see one interesting issue in the
Congressional elections, namely, the
number of new radical members sent
to Congress. Those of us in the East
do not understand the viewpoint of
our western people, hence few are a
wake to the great change .whidh is
coming about in our political line up.
Thruout the present generation, the
contest has been between the Repub
licans and Democrats. The days of
this alignment, however, are number
ed. Both of the old parties have suf
fered extensive changes. At least by
1928, and perhaps in 1924, a real con
test may be waged between the so
called Conservatives on the one side,
and 11 so-called Radicals on the oth
"By "Radical" I do not refer to the
I. W. W's or any group commonly
known as Bolshevists. The new Rad
ical party will be more like the Bull
Moose party of 1916. The Conserva
tive group will represent a combina
tion of both Republicans and Demo
crats who are opposed to the extreme
measures o the other group. The e
lotions to-morrow will serve to show
to what extent-this new alignment is
"As to the immediate effects of the
elections they should not be import
ant unless the Republican majority in
Congress should be overthrown. I
do not, however, expect such an event.
"After all", continued Mr. Babson,
"most of us business men worry a
great deal more over politics than we
should. Everybody today is looking
to Washington for. a present. Nine
tenths of all the important bills be
fore Congress this year were design
ed to help some one group-usually
at the expense of the others. Far
mer and labor demands,railroad finan
cing, state roads, soldier's bonus and
the tariff are a few examples. This
stampede to the Government for as
sistance is one of the pestilences
which always follow a war. The
same mania developed after the Civil
War. From 1865 to 1870 bankers
and business men spent more energy
lobbying in Congress than developing
their own business. The Government
must mix into business in war time;
it is hard to get out of it after the
war is over. Eventually people will
iealize that you can't take out of the
Government more than you put into
it. For the present, however, the sit
uation presents a serious' danger-not
to those who fail to get assistance,
but to those who succeed.
"Any growth founded -upon so
fickle a basis as government favor
must be precarious. The industries
and the in.dividual companies which
are really good investments will be
able to fight their way thru without
having to depend upon exhorbitant
tariffs or goverhment capital. They
may have hard sledding for a while,
but when the depression is over they
will control the field. While others
are building up influence at Wash
ington, they are building organiza
tions at home. At the time it may
seem as if the concerns which get the
most protection or assistance from
Washington are the winners, but their
advantage is only temporary. In
stead of trying to pick the companies
which get the most assistance from
the Government, investors should look
for the companies which can get a
long with the least!
"This factor marks a sharp dlistinc
tion between the railroads today. Un
der th'e Esch-Cummins law the roads
have the privilege of calling upon the
Government for assistance in their
financing. Many investors have look
ed upon this as a favorable argument.
You will notice, however, that the rail
roadls which stand best on the quota
tion board have very few "govern
ment obligations" in their balance
sheets. The only kind of a keg to
put your money into is one that will
stand on its own bottom. Perhaps
the others will come out all right, but
the railroads in which I am interested
are now adopting efficient business
methods instead of depending upon
Government aid. In choosing rail
roadl securities, my advice is to let
someone else speculate as to what the
Government will or won't do.
"The same applies to industrial se
curities. At the moment every one
is much exercised ov er the new tariff
rates. Some indlustries have secured
greater protection than others. In
the long run, however, the business
which receives the greatest tariff pro
tection may not be the best invest
ment. If its operating costs and
overhead charges are increased on
no safer basis than legislation, it is
not a business in which to risk your
money. Business concerns, like in
dividuals, get their strength from
fighting their own battles. Too much
protection is far more dangerous than
"Remember that Congress is gov
erned by the law of action and re
action. At present, the legislation is
running toward Government subsides
and support. The further this move-)
mertes hmoever. the more dtrastic
will be the subsequent reaction. The
more Congress does for individual
business interests today, the more
some other Congress will .teke-aa.
from these interests- later! ,15ene
when looking for an industry in which
to invest your monay, pick. t one
which will have least to feaPfrA the e
caprice of politics. Legislation~may p
give a temporary boost to securities, .p
but the long swing upward must be
based upon something more substan
"Any concern which is prospering
mainly by the grace of Congress is t
an unsafe risk. The wisest concerns n
today' are devoting their energy to
building up their own organizations."
The Business Index this week drop
ped off a point. It now stands at a
bout 5 per cent below normal.
NOTICE OF ELECTION.
State of South Carolina,
County of Fairfield.
Notice is hereby given that the
General Election for Representatives
in Congress will be held at the voting
precincts fixed by law in the County
of Fairfield on Tuesday, November 7,
1922, said day being Tuesday follow
ing the first Monday, as prescribed
by the State Constitution.
The qualifications for suffrage are
Residence in the State for two
years, in the County one year, in the
polling precinct in which the elector
offer to vote, four months, and the
payment six months before any elec
tion of any poll tax then due and pay
able. Provided, That ministers in
charge of an organized church and
teachers of public schools shall be en
titled to vote after six months' resi
dence in the State, otherwise quali
Registration-Payment of all taxs,
including poll tax, assessed and col
lectible during the previous year.
The production of a certificate or the
receipt of the officer authorized to
collect such taxes shall be conclusive
proof of the payment thereof.
Before the hour fixed for opening
the polls Managers and Clerks must
take and subscribe to the Constitu
tional oath. The Chairman of the
Board of Managers can administer
the oath to the other Managers and
to the Clerk; a Notary Public must
administer the oath to Chairman. The
managers elect their chairman and
Polls at each voting place must be
opened at 7 o'clock a. m., and closed
at 4 o'clock p. m., except in the Cify
of Charleston, where they shall be
opened at 7 a. m., and closed at 6
The Managers have the power to'
fill a vacancy; and if none of
Managers attend, the 6itiiens caiia
point, from among the qualified voL
ters, the Managers, who, after-being
sworn, can conduct the eeefon.
At the close of the 1'eiB 'he
Maaesand Clerk must proceed
publicgyrt open the ballot box anid
count the ballots therein, and continue
without adjournment until'the same.
is completed, and make a statement
of the result for each office, and:sign
the same. Within three days. there- 9
after, the Chairman of the Board,
or some one designated by the Board,
must deliver to the Commissioners of
Election the poll list, the abox con
taining the ballots and written state
ments of the result of the election.
.Managers of Election-The follow
ing Managers of Election have been
appointed to hold the election at the
various precincts in the said ,County:
New Hope-C. J. Stevenson, J. D.
Simpson, Y. G. Lewis.
Centerville-Samuel Branhamn, C.
C. Jeffers, Book Barfield.
Feasterville-Young Coleman, D.
R. Coleman, Jr., J. A. F. Coleman.
Mitford-L. C. Jordan, R. B. Keist
ler, S. L. Hcllis.
Horeb-J. M. Jones, J. M. Steele,
A. W. Harrison.
Monticello-W. J. Burley, F. M.
McMeekin, J. A. Scott.
Ridgeway-C. R. Hinnant, W. H.
Kennedy, L. E. Hooten.
Winnsboro- -R. H. Phillips, W. G.
Ragsdale, R. M. Ragsdale.
Woodward-W. T. McDonald, A.
W. Brice, A. R. Nicholson.
Longtown-J. J. McEachern, Sr.,
E. R. Dixon, W. A. Reeves.
Greenbrier-Herbert Castles, H.
W. Ligon, J. D. Lyles, Jr.
Jackson Creek-R. C. Stevenson,
F. E. Pope, J. C. Paul.
Jenkinsville-B. H. Yarborough, P.
A. Hedgepath, Maxcy McMeekin.
Fairfield Cotton Mills-W. E. Rain
bow. C. A. Simms, John Dove.
The Managers at each precinct
named above are requested to dele
gate one of their number to secure
the box and blanks for the election on
Saturday, November the 4th, at the
Court House fram E. P. Burley, Clerk
of the Commissioners of Federal
R. A. MEARES,
K. H. PATRIGK,
Commissioners- of Federal Elec
tion for Fairfield County, S. C.
November 1st. 1922.
FOR SALE-Nice, fat April and May
hatched Minorca pullets. 82.50 each.
JT F. McMac-r.
S ON TRIPS.
It gives pleainre to'tel
he people( ro how splen
idly their boys* e n their re
ent- -football trip tp York. Their
onduct was that of gentlemen-the
roduct that Mt. ZiPn is trying to
Uit out. They playeA a hard sports
ian like game, and on the streets of
ork and in the hotel lobbies the
ack of loudness and rudeness was
he subject of much favorable com
and a c r
- -747,6. Thsm
Thnce saypy tti
ofthe fodsio .....
Thel aveqred yerl t
*The, necessary payr t tl
of the bonds .... ....
Mills required to' t th
Giving the averag .uir
(Here it has bee~ gg
eration the fact t 7umn
sale of the bonds be x
and such interest ddrived
THE ROADS IF BU
Good top soil roads cost
(State Highway Commi
We will have $340,000.00
m iles ........
The U. S. Government an<
Commission advise ma
per cent of buliding cos
it will take to maintain
Total maintenance cost, p
This means a tax for ma
Hence for 20 year durir
bond the tax will be:
For retiring bor
After the bonds are retirE
maintenance will be ..
The figures herewith si
by intention. The averag
been variously mentioned
We have chosen the large
fear of accomplishing wh
The State Highway Col
61 miles of road in the c<
State system of highways
ready been built, leaving
plish this will require $231
half of this or $116,500.0(
costing $183,000.00 across
ers. Fairfield pays one-fc
So for State Roads the c<
The county pays for bric
It was a pleasure to me, Mr. Scar
borough and Mr. Stewart to be with
the boys. They are a fair, hard
fighting bunch of fellows, and Winns
boro ought to' support the kind~ of
athletics they are exhibiting. The
games we have at home should bring
out the whole town; for Mt. Zion has
a right to expect the town to bacle
her up in her efforts to instil right
principles of sport in the minds of
the students. The boys are'all right
-come on, Winnsboro, and let's show
them our appreciation of fair, clean
sportsmanship. Mt. Zion is much
more concerned over a fair, clean,
it was ordered in the last convention
Dm Wallaceville to the main thoroughJ
to be built'w ith wa
i fo(i .baO
>f reirn $50,00
us s......................$ 0 7 0 0
its oeare i the las vnto
e2tor bult 'yar,
ste thatpeta e dto c oa
o;he owlrunty thi tx.
.to build, per.5 imill
sio Reort p.25)$5,000.00
paen ca7 idi
itne 2olst year,
1 i....................... $26500.00
r as yearly pament 33,0.6
........ in .. m illsm ills
ese that wieo takeinocnsd
..........4. tillsqie for mils
ithererIllrdyh tax .)o
cotof b dinger mile hv
tso fRot, p.2o $5,000.0i0e
unty, to bcot it pat1f0h
,000.00. for 70nt miles one-0.
Then thewill4pu a mbills
gthe of ofi brideor$50.
etfo 2,'0t $45,500aml.0
hard fight than she is on mere win
In this connection I want to add a
word about the work at Mt. Zion.
As a riole-there are exceptions, of
course-we, are doing the best work
we have ever done. Despite the un
favorable conditions brought about
by the change of quarters, the pupils
are working. And as to their behav
ior-I'd back them against any school
I know. May I not expect the par
ents to co-operate with us in keeping
up this spirit? Let us work together
to mould character - that will stand
every test that life is subjected to.
SOU:TH CAR OLINA
that the road stoppirng at Avon be con I
are through the western side of the -.
owney raised throu,
- ee, ainderstan
rea- 7 at
or 2,5 mile>pe ca "ery
Th U S. Det of griult
porraC s imrvdtec
thtfroad 2top1pr atAon benile.
are inrog thpsernear o the er
coeund naerest of
.and the citiz75
asolnusi the cun
Say we16 ill gved thsore
ha$10,000 whir monlet t
year.y syteIf improved in
county aerlaing 80 eah
Ann verage eaepairabilr
p cent of this ......................
eageif 1,687,500 ines tray,7
por radi iprovfer, the ii
incldin 2wag~cpeon bugie,
ton il.7. Sohe aveo 10 mi~
savin pcr ea on.......r
Aroo veh ile 100 aes mou
We thae 750e auto aeundn
ora$1,00enach 10emill op
.A the depreiaxto ns7
woThinksyeal arae too~er
again auto wel gtraved 30oil
ofgasoline use wil tke 2cgal
Say $4,166ne is usdrbourcdi
hes $1000 th erthlef
he ayearly avrage ost
So ifo winv4es ner,
To me, the very finest sort of edu
cation is that wiheh enables a.man
or woman to play the 'game of life
square.' The ,world is crying today
as never before for plain, old-fashion
ed honesty and cleanness of life. We
need-God knows how keenly-to re
dedicate ourselves to the only things
of life worthwhile-honor, righteous
ness, and truth. Mt. Zion seeks to
stand for these things, and we want
the help of all those who think as we
do. "Who can live up to the great
trust? Who dares fail to try??'
G. F. Patton,
Supt. Mt. Zion.
i t s n
gh the- $500,000
ens the Ad
State Highway Commission
ken from the bond issue of
000.00 to be spent on the
motor vehicles in Fairfield
,total value of....$600,000.00
per year is 3,000 miles. 75
be on the improved roads,
ar, for 750 cars a total mili
eled on the improved roads.
ire (Bul. 136) says when a
>st of hauling is reduced by
This is an average of 6c per
',500 miles times 6c, or the,
ions of the automobiles and
iotor vehicles in Fairfield
$800, or $600,000.00. These
e depreciation is 25 per cent
roads will cut this in half
000 per year. ~or anyone .
l to good roads, let's halve
ty per month is $14,166.00.
s other than autos, and we
or autos, or $120,000.00 per
y save 40 per cent, then we
oline of.......... $ 48,000.00
per car is $100.00. On 750
rood roads will save 40 per
........................ $ 30,000.00
0 for 20 years, and $35,000
g on automobiles alone, not
ules. horses, is $115,500.00
r acre of land for the coun
1s on this means a payment
........................ :.... 3.7 cents
t pay........................... $3.70.
at an average value of $50
per mule...............50 cents
amount to $1,000 must
.... ....... ...... .. .........$ 10 .0 0
ist charge $1the bonds is
n passing through the coun
s, and at 15 miles per gallon
ions at 25c, or 50c per car.
the county, 87 cars passing
ty the yearly average inter
of retiring the bonds is
and a car dropping 50c on
day to pay the S40,.50.