Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1868-04-26

Total t5i ,4O5 800
The total Of the taxable property in this
same year was $555, 442,0l2. So that it
appears that ten men already own about
one-tenth of all and one hundred men
might own the whole Of the city, had their
fathers, aud they, done "a these have done
The highest tax paid on the list amounted
TO 1858, l40 aud the lowest to SO, $40.
Either Of them very pretty fortunes in
most quarters of the habitable globe To-
gether, these ten paid taxes to the amount
Of 1882, 326.
To help the non-millionaire to understand
this thing fully, it is we'll to say that these
figures Of fifiy-one and a half millions of
dollars represent, at least, one hundred
and three millions of actual property, and,
probably, one hundred and fifty millions
because hardly any Of this property is
rated at more than one-hslfof its merchau-
table value, some of il very much less than
that. SO that We may estimate Mr.. Astor
TO be worth, in real estate alone, over $32,-
000, 900, and Mr.. Roosevelt over 81, 700 900.
For myself, l believe these fortunes are
three times the taxed values.
1t is curious 10 observe that, out of the
two most persistent, thrifty, money-getsing
tribes-Iankees, pure and simple, aud
Jews-come but one each of this ten. The
other eight are Four from the great Ger
manic races two from the Huguenot-
French, and two from the Scotch, or Scotch
Irish.
il has taken two generations to produce
eight Of these millionaires-tWo only,
Stewart and Lord, having been the archi-
tects of their own fortunes We find the
Astor estate 10 be the result Of the traffic
Of John Jacob Astor with the Indian tribes
through some half a century. This he
seems 10 have begun almost Immediately
upon landing on the shores Of the New
World in 1888, snd to have prosecuted
with vigor and assiduity which never
tired. Astor had three thlngs-health a
money-getting faculty and an organizing
faculty. Mr.. Astor was a knowing man.
In due time he had money to invest, and
then bis sagacious, money making faculty
told him that New York vas destined 10
become a great commercial city, and that
real estate, judiciously bought, must iu-
crease in value. He bought, he bought,
and he bought largely. This appetite for
accumulating millions grew with what it
fed on, and the power to do il grew vastly
with the growing millions; and thus it went
on for sixty FIVE years, until in 1849 he was
gathered to his fathers, leaving an estate
to his son estimated at twenty millions, a
legacy Of 100000 to the city to found a
| library.
The LenoK fortune begins As far back as
the American revolution, when in connec-
ton with the Commissary Department, the
shrewd, prudent, careful, indefatigable
Scotchman began 10 accumulate wealth
| he went steadily forward with this great
purpose Of his life until he died, in 1899,
leaving millions to his heirs.
The present millionaire, James Lenox,
has never made money, and has never at
| tempted 10 do 80. Indeed, he il the one,
and the only Que, OF our rich men who, il
| il claimed, makes it matter of conscience
not 10 add house to house aud lay field Ia
field. II il asserted that every year he dis.
penses has vast income in his own waya bat
that he scrnpulously avoids re-investing it,
| And yet, in spite of himself he grows
richer and richer, thus: Years ago, his
! father was Obliged 10 take piece of pro-
| peTty, far beyond civilization, 10 satisfy a
mortgage Of some eleven or thirteen thou
sand dollars He held on, and James Lenox
has held on. Now il is ON the east side OF
the Central Park, about Seventeen street
six blocks of the most desirable property
in the city, and of which MIR. Lenox has
sold 10 the amount Of three-qnarters Of a
million, aud has enough left TO make oyer
the million.
The Lorillarda have in their veins both
| French and German blood and it has been
said that there never was poor Loril-
lard Appearances seem 10 indicate that
there never will be one. Wealth, like poy-
erty, if not a disease, seems 10 be cOnta-
gious. This immeRoe estate Is now some
seventy years old; for, AS far away rs 1910
Z. q q. Lorillard were very rich, and
never gave a note; and when George dice
has estate was estimated at over g.. 600. coo
Tobacco did the work. They have live,
with tobacco and have learned to know i
in all its phases, in all its forms. The,
know the richest Abais, and the pales
| Wethersheid; they know how and wheI
and where the fragrant leaf OF the tropi
may best wed the fainter weed of New Eng
land, and the lusty growth OF Kentucky
Factories have grown up where this strang
plant could be ground and dried aud shape,
aud bottled and papered, SO a. to make !
delectable % man, profitable 10 him VIII
thus ministers TO has needs.
Let us here make an Approximate calou
lation as 10 what this business amounts t
IN each year There are some eight mil
lions Of men between the ages Of fifteen an'
ninety in the United States. Let as sup
pose that three-quarters or six millions
| frls.a.., &, 80 g AIT con ~
year each. The result is SI00 000, 600 q
this forty per cent say isproft. ltfollow'
then, that sac 000, 600 Of profit is to be III
portion Of somebody. Now, the Lorillsrd
have taken good care to get their share G
THE; first, By producing a good article
second, by selling as low as Ihe rest; an
third, by advertising it thoroughly.
Mr.. Roosevelt inherited 100000 man
years ago, when the possessor Of $4,000
was very rich msa. He attended TO hi
} business, and ate the bread Of carefulnes
nevertheless. He grew richer, and richer
and richer, and having morey 20 invest. h
, seized upon good property IN the city
New York. lie always saw after the l.
teTest account; never iet il run against hin
and his purchases we're aiways made VIII
tifs an view. How much IS luck. ko
much ar prescienee in this worle, who "a
sAy2 His purchase, some forty years az,
VI the Broadway 'front.' between 1hirteenl
and Fourteenth streets, for some S26 90,
results nog IN a million.
The career OF our Rhinelander million
are has been essentially the same. lie, 70
inherited the beginnings OF bis fortune; {,
. the RhiheiAnder pee was 50 lucky, or
|, wise, 50 20 own farm along The East rive
on MsnhsJtan Island. Having the -
preme faculty, aiso, Of holding on, Il eaa
10 bis chilsfen, VI whom our millionaire
the aozt Distinguished representative ii
loo, has bad his struggle 20 keep and 70 &
more and he has succeeded 30 thai he NO
hold "lnfs innnmerahle. llnm Ihiflie