The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1874-03-14
HOW TO SPEND MONEY.

The Dispatch, abiding to the recent
munificent donation Of Mr.. Longworth to
the School of Art, refers to the fact that
the city of Richmond has never been the
recipient of similar gifts from her citizens.
Iteis lamentably true that there is little
disposition in this city to devote private
fortunes to objects Of public benefcence.
Her rich men have not learned the grand
secret Of spending money ,oisely. Indeed
there are few men anywhere who have
learned how to use fortune so as to get
fair equivalent in that which is indestruct-
ible. As the instinct of accu-
mutation induces boarding till vast
sums of money are obtained, so any
intelligent and sagacious mind will seek to
convert the hoard into something better.
Money spent in coarse, sensual indulgence
goes but little ways. Frivolous expend-
lures bring no satisfaction of soul. Men
whom business habits enable them to
make large properties rarely indulge expen-
sive tastes. They go on adding to proper
ties already vastly beyond their needs till
life is suddenly cut short and the
carefully gathered earnings of life
time are scattered in few years.
Such men are too often succeeded by
children whose depraved or luxurious
tastes find ample scope for indulgence in
squandering the property Of their fathers.
Experience proves that large inheritance
is almost always curse to children. The
men who to-day fill the high places of the
world, and notably in this country and
England, rose from middle life or from
extreme proyerty and obscurity. The
children of the rich, for the most part, are
too feeble to stand the race of life. Our
rich men, as rule, are mere slaves Of
greed. to whom fate has given the touch of
Midas, which turns all things into
gold, but with it the ass S
ears which make the gold curse
to themselves and their children. A few
rich men among our cotemporaries stand
out in splendid contrast. Noblest among
these are such men as Peter Cooper, Ezra
Cornell, Gerrit Smith aud others, who,
during their own lives, and while in the
full possession Of their powers, have devo.
ted that same ability to the expenditure Of
their fortunes in schemes of beneficence
which enabled them to become rich. Thus
they are able to aotness and enjoy the
good done by the Dise expenditure of the
money. Is not this infinitely better ir
every sense than to leave a fortune
to be quarreled over, or to
furnish the means of dissipation
Does not man get more pleasure out of it
in his life time, and is not all experience
on its side as doing the best thing possible
for his children? Contrast an Astor with
a Cooper, and tried even by the lowest
standard of intelligent selfshness, admit
that everything is in favor of that noble man
who, beginning life humble mechanic and
winning large wealth, gave the bulk of his
fortune, while in the prime of life, to form
the Cooper Institute. For twenty years
Peter Cooper has lived to see the fruits of
his noble work. The young men and women
educated in all practical art and knowledge,
have gone forth by thousands into every
walk of life, and are sending back to their
benefactors constant stream of gratitude.
He is able to see with swelling
pride and joy of heart these thronging
children of his old age This children in the
noblest sense) carrying into all civilization
grander impulses and loftier aspirations
the transmitted and impressible wealth
that he knew hoso to son and hop TO
spend.