The sun. [volume] (New York [N.Y.]) 1833-1916, 1875-11-29

ambition, bat his successor never equals
him in this respect. The incentive dies
with the attainment OF the object which
aroused It. A son who Auds q large
estate ready made to his hands cannot pos
sibly exert himself to increase il with tho
energy that his father displayed in getting
IT, He inevitably subsidies into u mere
steward OF investment agent, and
leaves the fold of new enterprises to
Others. JonN JAcoD AsToR was n mercan-
tile genius. His schemes embraced the
whole globe, and he gathered in wealth
I ON it's four quarters. His son, who in
hetlted the fruits Of his toll, has douo
nothing NIL his lifetime hut build houses
aud collect their rents. His son and his
sons son VIII do no more. Neither
commei ce nor politics has anything
to fenr from them. What they VIII
chiefly care for will be To hold
on TO what they have This is the
case with the Duke of WESTMINSTER, the
great English landed proprietor, with the
ORLEANS family III France, and the Aus
TRAN EsrERlIAzys. Even the present head
of the HurusCuILDs has subsidized into a
humdrum banker, who never runs "A risk,
and IL content to let younger aud moro
adventurous houses take the lead in
finance. Besides the truth is that the
ncVumultivc power oi money, unlike that
OF tho SNOWFALL, dlmnishcs as its bulk IN
crcasgS IL is impossible TO handle mil
lions OF dollars aud make them
yield the same income that thou
sands 10. Where II small invo-tor can
safely get his seven, eight. or ten per cent.
per 0iHt1n, large capitalist Ike Mr..
AsToR cannot, on AN average, get 1--WE.
The good things are all snapped up by
men who, having less to look after. do II
moro thoroughly; aud the proveibal
tmidity OF milliunairCs mterfcrCs with that
prouptncss and soundness Of Judgment
essential to successful investor. This Is
proved 10y the his orv OF this very
AsroR estate. when JouN JAcon As
TON died in 1sis IL was worth 500
ON,O0O. with all the rise Of the real
estate, of which 1t is largely composed. 1t
has only doubled in value IN the twenty
Sc, en- years which have since elapsed, and
the probability Is that IL will take as
long to double it again. The GGRARD
estate in Philadelphia, and that Of TnEI-
LrssoN in England, illustrate the same Law.
Neither Of these great properties has
grown at "A rate ut all approaching that OF
Ia" nll interest compounded half yea ly.
The countcihalauclng advantages, too,
OF great permanent fortunes should not be
lett out of consideration. when money
Remains for "a length of time In "A family. il
usually comes, at some PERIOD or otucr, INTO
the po,-,-sion of u gcu,i Gus, uuhlic-spint,d
owner, who uses it IN "A way that proutsh his
fellow uan. lie may he lover OF art
aul gathei collection OF pictures and
statues which lac will throw open to the
pub IL; or be may be foud of books
and form Il library for the use of
poorer scholars; or lie may-aud heaven
scrd such AN one to ms soon l-hnye n taste
for good architecture and build streets of
houses which shall be ut once grateful to
the eye aud convenient TO dwell in. OR,
finally, the family may die out. and the
last survivor may initiate the example of
PEABODY, ami devote his wealth 10 public
bcurfaotious.
Meanwhile, let those who are dis
posed to envy the Temporary owner
of the fund, remember that after
NIL he gets no more out OF HE than
they do, If ~ much. WILLIAM Il. As1uR
received only his hoard and lodging for
harder work and more of II titan IL per
fo Ned ~ day lahnrcr. lie had not
even the pleasure winch his father had.
AID wllcn all successful merchants
have, of witnessing the success OF
great adventures and carefully Planned
enterprises. Lis days were spent ia the
petty details OF his counting house, and la
Inspecting columns OF figures y Inch meant
no more TO him than to one OF his Gle X.
His son has been brought up to the same
routine of drudgcry, aud will doubles
continue in il. He win have n house TO
live in, clothes to wear, aud enough to eat
and drink; but rs the prayer book has II,
he brought nothing INTO this world and
will carry nothing ont OF il.