The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-06-13
RADICAL REFORM.
Letter No. 4.

MT. Sprague. OF Rhode Island, receives. perhaps
some authority from his knowledge OF modern
Instances" IN the carry History OF s.tbe Sprsque
prints" The ''mlllonnare brooks no rival that he
can crush He undersells the small manufacturer,
buys up mis- promises to paw, outoids him IN the
rent OF bis factory and draws on his workmen by
higher wages. Having finally tramped out that
competitor. he then employs the power OF a mo-
nopoly TO tyrannze the laoorer and to plumber
the public. or verify, III there be anything
more dangerous" In the hands OF an individual
.'tnan l,Ooo 900 1t Is 81, Ooo. eoo."
"bull" Is your ''milonnaire."X he makes q
"corner" In muslin, "cornern in coal. "cor-
ner" In co1ee and corner" in the
very stan OF the peoples lives Robbing the
public In thes' necessities COT existence and
running that honest minister to the pubic's
wants. the fair trader. II there be ANYTHING
in the hands OF an individual 'more dangerous, to
the people than ST. 000 600 It Is S. O0O.n The
millionaire" Is interested IN the passage OF q
law, ana corrupts the Legislature. He IS con.
cerned IN the result of a litigation, and corrupts
the courts Affected by the decision Of q popular
vote, he corrupIs the purity OF election. And each
one OF these instances Is ample proof OF the con.
an individual more dangerous" to all that is pre-.
cious 70 the liberty and happiness Of the people
ethan 81. DOC, 0O0 1t is s., 000, O0O"
SO far as this argument Is concerned the mil
HOuudlTc'' uay nc Ill III Oh rare Vlrtuo. his power
to commit so many crimes against society is all
that We nave to do with here. Coming TO us
under the light t.. Of every day experience. that
say taken in the manner" OF debauchlng egisa-
tlon Of corruptlng justice, OF stagnating trade. Of
stining competition. OF paralyzlng industry and or
robblng the people TO an extent greater than the
depredations OF 100000 hgnwaymen. The arrest
unlimited accdmulatlons Of wealth in the hari,is of
an individnal-s demanded imperativelv Uy the
very highest considerations OF public policy.
n in
the hands or an individual has been shown here on
the painest grounds. will examine now how
an imperative demand OF public policy on The
ground OF private right. MIR. Stock Gambler. Mr..
OF Individual wealth. An analysis Of the Tor 1nes
OF those citizens will serve to show the extent TO
Which n private right hedges around the riches Of
ancient ldoiatry whose feathers no one should pre-.
sumo to RUNE. The fortune Of MIR. stock Gambler
Exchange. so far as the public is concerned,
IL has been obtained without any equivalent;
Sas been obtained BY virtual cnlng it does oes not
belong more sacredly, IN ethics, to the present
holder than DO certain gains winch are recoverable
q this 30 class ' ~ %onnars against Ss's Very
ss 'is 'sssi ssea'nss ssaas
part sss honesty sI But the
many years constitutes IN equity ortgage on
his honest right, . mortgage Tor which ne Is larry
however, for some part OF this genilemanss
wealth, whatever that pleading may be worth in
sumlng the very vltals OF the people The mil
lions OF Mr.. Dry Goods consist OF atty bonds and
cash: As 10 the case Q, Mr. Rea Estate: me nr't Of
gregate. The bonds are In Justice good Tor no
more than the value received for them oy the puo-
lie, tainted as they are N morals by usury. The
cash will hardly cover tine moral liabilities attached
to the whole estate, Liabilities tor lifetime OF
upon tue market with the result OF blackmalllng
the public IN "a ner." so worsnipIul private
right as this holds at best lor but traction Of the
ment against the outcry OF puolc policy which
demands the ABOLITION OF that scourge OF the
viii examine the private rights Of the million
nalre from another point OF view. The right to pri-
waite wealth rests on service to the puolic. In alb
stract justice 1t holds to the extent OF only the
value received by the people. Now the working
aaestlohsWSas mas Mr. IbeVisR Grab done Ior
the public by wav o. consideration Tor MS property
in the Commonwealth to the amount of 81. 900 ooof
Is 1t possible for any human being to give to the
people an honest equivalent OF service for Mr..
Ruthless Grlnd's sl6,ooo.oOoa the net value re-
celved by the Commonwealth from the lite OF any
citizen may oe appropriated loosely by taking as
standard the case OF the average artisan. That
to an equivalent Of $4,000 ana TO consumption TO
an equivalent OF $4,000. Now the common wealth
held by that artisan under the tenure OF value re-
Ceved by The public amounting at the close or his
lie to $5.000 at what sum must we set the
amount possible OF being held on the same honest
terms by the most thrifty, the most superior
cltizenf
The prudence, energy, Industry. longevity,
which enter into Accommodations OF Individual
wealth do not vary III any case very widely tIOm
the average, so far as differences IN these are
concerned they probably would not cover an
honest possession OF wealth., In any instance to an
amount greater than double that OF the average
arrlsan-sl0,oOO. Mental power presents, how
ever, wide dinerences among men. Because OF Its
indlrectness OF operation IN the uses Oh society 1t
gives the individual right IN but fraction OF Its
despotism. The inventor OF the steam engine, for
example, has increased the production OF millions
OF men htyiod; but no one Will assert that ne
holds JUST calm on their production TO the extent
o. his addition to it-nlnety-elgnt per cent OF all.
The Just reward oil mental SCI vices in the offices OF
wealth creation IS dit1cut to estimate. Proper
regard the rights OF the purely pny seal aborer,
suggesting IN the case OF The mental laDorer an
advance o. compensation, s9ch as tnat from the
It's ILLUSTRATIONS to wealth may ue set down at
the proluct OF the time OF operation, multiplied by
the mode OF compensation contemplated in this
case oy that Just thinker, John stuart MILL.
q lifeline u' fortune maker at dou ',e tSat o.
the average artisan on the score Of moral and
physical differences, and, putting IL on the score
oil intellectual differences so very high as twenty.
iold, the citizen emoodylng Concurrence OF nose
two sets Of conditions 10 their highest degree can
not pc supposed TO OBTAIN right in the common
wealth greater than iortylold that OF the average
artlsan-S200, 900. Nearly all the fortunes IN ex-
cess OF 5000 900 have been accumulated In a life-
strong, II not an irresistible. SUSPICION OF some
hocus p0cuS which, Whatever may be its name In
law or finance, must be held In morals, fraud. In
tine, them private right In the case oil that excres
cence on the body OF the Republic, ''tne million
nalre," Is not much more adorable than the Prophet
OF knorassan, whose votaries would nave bounced
from worship to execration II they had but seen
his hldeousness unveiled.
To conclllate the opposition OF wealth TO the re-
forms proposed here 1t would be wise 70 restrain
the sword OF Justice Allowing 1.-The milionnalre"'
to retain life interest IN mis- Millions at their real
values, should aeieat his power to perpetuate by
TRANSMISSION that possession OF enormous wealth
when stands denounced oy puolic policy as curse
upon the people. An orfcial assessment on the
basis OF real values should be made throughout
the state annually. ANY citizen found at the
time OF that Assessment, holding wealth to an
aggregate exceeding 100000, should be required
on every subsequent assessment, to pay into the
Treasury OF the state all the accessiOns made 70
that wealth In the meantime And the man who.
with riches amounting at any time to $500, 900 or
over, might continue In the pursuit OF more,
should be required TO pay annually into the Trea.
sury OF the State all his profits alter deducting on
account OF interest on his capita, $4,000 year.