The Legislature finds and declares that there exists a situation characterized by price-cutting and other competitive practices in the liquor traffic in the United States Virgin Islands which has come to a point of such abuse that it is necessary to protect the public interest against dangerous economic and moral consequences. The Legislature further finds and declares that such abuses not only are injurious to the economic well-being of the Islands but also pose a real threat of the said liquor traffic being open to manipulation in a manner contrary to the public morals and welfare. The provisions of this chapter are accordingly enacted as remedial of the foregoing abuses and as necessary to protect the public morals, welfare and economic well-being.