The star. (Cincinnati [Ohio]) 1874-1875, 1875-02-25

four sons--how much is not stated-two
Of. them are in Saltwater, Minnesota,
probably wealthy speculators,) and the
others in Bangor.
The third section appoints trustees Tor
all his western property, who.are to give
$1,000 to each of his grandchildren on
coming OF age, with small donation to
the Universalist church at saltwater;
and the balance is to be invested to ao-
cumulate till the year 1900, and then to
be given to his sons.
The fourth section appoints trustees
for the remainder ofhis eastern property,
who are to give $1,000 to the Children's
Home, and the same amount to the Home
Tor Aged Women in Bangor, with $3.50 a
year to the Universalist church Of that
city until the year 1900; the remainder to
be invested till 1900, and then appor-
toned, four-tenths to his sons and their
| children, one-tenth to the children OF his
brothers and sisters, 0ne-twentieth to
the wives Of his sons, one-tenth to the
Universalist Society for benevolent pur-
poses, three-tenths to the city Of Bangor
for moral and sanitary purposes, and
one-twentieth to Westbrook Seminary.
1t is safe to put the amount of Mr..
Hersey's Western and Eastern property
to be fixed until 1900 at 100000. At six
per cent. how much will this produce at
the end OF the century, The interest
and dividends are, of course, to be in
vested as they are received, thus making
compound interest. Allowing two years
for converting all his property into a
shape for productive investment the
amount Will accumulate for twenty
three years. 1t will double itself in a
very few days over eleven years. In
twenty three years the amount would be
50, 10000. Three-fourths of this is to 60
to his sons and their children who are
already enriched, and who will, If pru.
dent managers, be very rich in 1900 with.
out million and half more. Why did
not the testator give his sons at once all
they were to have? 1t is probable that
he supposed it possible for them, or some
of them to fail and become poor. in which
case. this provision would carry them
handsomely through lite.
| The old man thus made himself the
guardian OF his children for quarter OF
a century after his death. His sons are
a majority Of the trustees to whom both
the Eastern and Western property is In
| trusted. The testator could not there
| fore have very much feared that his sons
would come to poverty. Family pride
more than family affection probably die
tated this will.
This is not the first case of the tying
up of large mass of property by VIII
to accumulate for number of years for
heirs. 1t is a practice that is likely to
become general among the wealthy. 1t
is pernicious practice. Itprevents the
distribution of large estates, and thus
increases inequality among the people.
A new social caste will probably be Gre
ated comprising those who have large
future expectations in addition to their
present wealth.
But for the spendthrift and stupid sons
of rich men, the whole wealth of the
country would soon get irrecoverably
into the hands of the few, and nine
tenths OF the people would be made per-
manently poor. Think of the wealth
which Vanderbilts grandchildren would
acquire were his son and his sons sons
to manage the estate successfully! Then
suppose that all rich mems sons should
be wise business men-how much of the
country would be lett to the people fifty
years hence? In view of the rule that
the sons of wealth are improvident, the
great accumulators of the country are
beginning to provide against the weak
ness of their offspring by putting the
bulk of their estates where they car
not, for many years, get it to squander