, 1878-01-12
FOUNDING FAMILIES.
Notable Failures Of Vigorous Attempts,

4 NvsoSs~ W sAcoA"eAS <sstSAAStNs
The Vanderbilt case is an impressive
lesson of the folly of attempting to found
family upon no better basis than the
possession of money. The ruling idea OF
the old Commodores later years was to
amass huge fortune which should stand
name of Vanderbilt, and make the head
of the house prominent power in Amer
lean society. He chose one son ont of his
many children, and trained him TO possess
alone the inheritance of this vast wealth,
as kings first born is educated for a
crown; and this favored son in turn no
doubt expected to transmit the deposit,
unimpaired and perhaps increased, to the
head of the next generation. American
law and American customs discomtenance
such preferences, and have never favored
the permanent coniinlng Of wealth TO a
single narrow channel There is no coun-
try In the world where fortunes are made
SO quickly, none where so large proper
ton of the men in business have succeed
ed in amassing a comfortable independ-
ence yet there is none IN which inherit
ed money has done SO little for its owners.
Every few years new CroeSus dazzles us
with his sudden abundance he has plum
dered the stock exchange, he has negotia-
ted railroad subsidy, he has specuiated
III land, he has found silver m;ne, he has
tioated a construction company, he has
gaInbied in rotten steamships, he has held
an army contract, or he has perchance
built up prosperity by shrewd adventures
IN legitimate commerce. What becomes
of these stupendous fortunes! The most
of them vanish as quickly as they come.
"Riches like insects, while concealed they lie,
Wait but for wings, and in their season fly"
The men who were monarchs of Wall
street five years ago have nearly all drop
ped into obscurity many are bankrupt !;
few are still rich. And even if they keep
their possessions to the end, still they
s. bear their heavy riches but Il journey,
and death uunlcads them. None have
succeeded in founding family on money
basis. John Jacob Astor had the ambi-
ton of establishing line of rich men,
but he gave his sonsomething better than
gold, and fitted him by education and
culture to adorn the place designed for
him. If he has succeeded in :" founding
family" ii is because his descendants
have never trusted to the estates for the
maintenance of their social position.
Half century ago, Mr. Theiusson, III
England, attempted to found 4 family up
on the basis of fortune equivalent to
about S3,O00,000 He directed by his
will that his money should be invested
and reinvested during the lives of all his
descendants who should be living at the
time of his death, and that ultimately,
that the whole should so to the families
of his three sons. 1t was calculated that
the propertywould amount 10 SO 900, 900
before 1t was divided, and three lines of
rich Thelussons would be established
among the magnates of the kingdom.
The result however, was half Il century of
lawsuits, and Ill the end there was no
such enormous sum to divide, and it was
distributed anon. much greater number
of heirs than the testator contemplated
The Vanderbilt money IS certainly bring
Ing no happiness and no greatness to ITS
present claimants, and we have no doubt
that In the course Of a few years it will
go the way of most American fortunes
a multitude Of heirs will have the spend
inc of it, and it viii be absorbed in the
vast circulation system OF the country.
The plans of the great railway king Will
come to naught and if he ever revlsits
the earth to look after what he had so
much at heart in his last years, he will be
satisfied that the art of founding a family
was one of the things that he did not
know.-N. Y. Tribune.