The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-03-16
TOO RICH.
The Danger To the People IT New York
FraIn 81 millionaire Like Vanderbilt.

| Prem II millionaire Like Vanderbilt,
fGath in Philadelphia PressJ
Heretofore the danger Of great fortunes has
been obvlated by the loss Of them, The Gil
rards and Rushes grew weary Of the weight
of dross and founded useful things with its
residue The A. +. Stewards extended their
business. and In many cases the Investments
shrunk. The AstoIs, however, keep their
estate compactly, and manage it with the lib
eraity and method Of q London Duke Of
Bedford or Marquis Of Westminster; being in
houses and lots, II - not apt to Cypress any
body. But Mr. Vanderbilt owns revolving
estate, which Is said to be paying him $1,000
an hour for the round OF the day and night.
He controls almost every large city in the
State Of New YORK; the bridges over the
Niagara and the Hudson, at Troy, Buffalo
and Albany; the road to Canada, the outlet
to Boston, as well as New York, and nearly
the Hudson river ITSELF on which he sup
presses the local steamboats,. The public
work Of nearly fifty years, engaged in by half
the State ana city, passed in a period of spec
ulation into his fathers hands, who watered
1t more than 200 per cent, AMI still it stood up
under the water, having really appreciated
to the figure he SCI upon it. The most popu-
lous portion Of this country Is on Mr.. Van
derbit's line, q nd the largest belt Of cities in
the country; it is nearly equal TO one man
owning the only railroad from London to
Liverpool and Glasgow. This enormous
property, which bears interest, w It'll its COn-
nections, on u capital OF Sl6D,D00,030, was II
realization M three years on the Stock EX-
change, operating upon, at most, q few mill
lions Of dollars. Since Cornelius Van
dprblts death William has annexed the
Michigan Central Railroad; the Lake
Shore, Michigan Southern, and Can
| ada Central were previously his, to all In
tents. As he has the means To pay regular
| dividends, these stocks carry themselves
! He DEGREES that Michigan Central shall be
all Der cent stock, aud the banks and
! fiscal powers u the country bow their heads
! He is more extended than his father but on
more growth and income. The growth OF
| business in the United States probably
doubles on such line as this every seven
! years, adding 100 per cent to the capital
| The whole country is open along the line of
| tho Central Road, no mountains barring the
way and Crampng population. You are sell
| ing clothing now in Philadelphia mannfac-
| tured by the ton ut Syracuse; rifles from
| Troy; shirts and collars from COhoe5; butter
| from st. Lawrence and hops from Utica. New
| York State has only one other rail-
| road Of respectable importance, the Erie;
| the others are all interlinked with the
| Central'S fortunes, and it does not appear
ItlaJ any mora DDpD-iJltbn Is fl1D9tHl, except
| by the canal. The railroad fare Is limited by
| charter to two cents mile, but this is partly
! SurmOuuted by asking two or three dollars
more In the Wagner cars, a private accessory
Of the family. The Albany bridge i also said
! to be private property, not owned by the rail-
! roads stockholders. Ia both the Boston and
/ Albany and the New Haven railroads ther6
| Is Vanderbilt influence, the only relief the
| Boston people expect IS Western eonnec-
1 ton in1eDpninnt ri Vanderbilt, over the Sar-
/ at Rgy a
| has been projected To cross the Hudson at
| Poughkeep8ic and connect the New Eng
| land railroads with the Erie, but work has
ceased upon ii.
Here then, are 4,G0o,G 600 Of people in New
| York dependent upon one tnau for all their
! connections with the rest OF the world;
nearly 100000 more in New England and
the British provinces pay tribute to this pri-
| Vate gentleman, vino casts the majority Ot
| the stock owns the bulk OF the bonds, and
divides authority with no one, He travels
over his road with u stable Of horses, on
| private express tram; owns Motel in every
city on the liue has his hotels, too, III
| Chicago, Saratoga, Washington and Albany,
where influence is to be cxerted On this
mighty mass Of stocks and bonds, certainly
SGO,933,OJ9, ne pays no personal tax. Ills
conductors are the ablesG men ont Of both
DartitS-Iildpn, SChell, Depew, Marvin, Cha
pin: the Governor Of the State is his obliged
friend he nearly elected his vice president
mayor Of New York city. Politically he Is
Democrat, with q moderate doubt Of That
partys reliability; but such an estate Is too
colossal for politics. He lives almost under
the caves Of his railroad depot, in q Fifth
Avenue mansion, and his anusenent5 are
horses, theatres ana the family He goes to
court on stated days to contest with his
brother on the property and Is about tifty-six
years Of age, the product Of small farm On
the bay Of New York.
What Is 10 prevent such q man growing
richer and richer with these earning netru-
mentalities, VINO cannot spend his income
except BY buying railroads, aud who has
large family, and puts them into other forms
of his business as ia the telegraph, where he
owns S2,000,00J stock He is the Western
Union Company in essentials; he cannot be
robbed, ana his whole line Of road is fenced
and closed with gates. His growth is a ne
ces5ity # ours aud Of the continent, and his
purchases since his fathers death have given
him control Of Michigan as we'll as New York.
AS a Spectator he encountered his father with
success. Ii he should desire to be politician
or President he would be welcome to at least
one party, with such an eXchequer. Such
men, however, are restrained by conscious
reasons from aspiring beyond their wealth.
Even Could, with his vanity and national
railroad property, went but once into a
grand political campaign, with the end to
save his investments. But Gould cannot I'M
load his stocks; Eanderbilt's stand thus:
New York Central 1l6, Harlem rs, Michigan
Central 81, Western Union %.