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 er. "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 taking shape. "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 too little. "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 tial. "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 as follows: 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 fied. 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 clerk. 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 p. m. 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 election. 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 lent. (Since t4le and a c r vatg th0 ol - -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 MA!] 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 .of.......... Hence for 20 year durir bond the tax will be: For retiring bor For maintenancE 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 TOTAL. 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, . C.0 it was ordered in the last convention Dm Wallaceville to the main thoroughJ to be built'w ith wa bond 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 sein yacungfo:h 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 s................5.5omills ..........4. tillsqie for mils ithererIllrdyh tax .)o cotof b dinger mile hv tso fRot, p.2o $5,000.0i0e encescn iprpsgtobuild unty, to bcot it pat1f0h 1 milest.bl...To.accom-0 ,000.00. for 70nt miles one-0. Then thewill4pu a mbills gthe of ofi brideor$50. .ntypay......... 4.116,500.0 etfo 2,'0t $45,500aml.0 hard fight than she is on mere win ning. 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, issue. - ee, ainderstan e-the, ctiz, 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 oneyoraveicledi throut 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 cen750 ofrhs,11.64.pe.day 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 < >unty.) gh the- $500,000 ding thehey ens the Ad ty, submits State Highway Commission ken from the bond issue of 000.00 to be spent on the 'oads. 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 ris....................... $101,250.00 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 preciation............$37,500.00 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.