Daily Republican., 1881-09-30
THE GARFlELD FUND,
AF. Field Explains the 0bjese OF
the Trust

1
Mr.. Field sends the allowing o. au
explanation Of the oAi.s and limits o
the trust fund:
NEW YORK, SeptI %, 1ss1.-I am In
daily receipt Of = great variety of sug
gestious about tn, fund for Mrs. Gar
field, which shows the strangest mis-
conception of its character and objects
| cannot answer these correspondent!
separately, and, if did, it seems like
ly that other correspondents would re-
peat the same questions. therefore ask
the privilege, through your columns, Of
briefly replying to such iMpracticable
suggestions as are the most frequently
made:
First-There is, and can be, no limit
TO the trust fund of which the United
States Trust Company is generously
acting AZ an unpaid trustee. The trust
has been created and accepted. Who
ever chooes, at any time, to contribute
to the trust fund has perfect right tc
do so. 1t has been generally assumed
that il was the original plan to raj 70
$3.50, 900 and stop there. l know of no
foundation for such an assumption.
Even if the fund shall become large
enough, invested in United States five
per cents TO afford Mrs Garfield $35. 900
d year,or half her la to husbands salary
| don't know that it would be an ex-
travagant allowance. But If all the
uninvested portion OF the fund now on
hand were put in four per cents the
whole fund would yield an annual in
come of less than ST., coo,
Second-As to the suggestion THAT a
part of the fund shall be assigned to tho
late Presidents universally revered
and beloved mother, it is only necessary
to refer to the terms Of every subscrip-
tion paper that l have sent out. The
language of che heading of every sub
sCriphon paper is substantial ly the
same. That of the subscription papers
sent out before the Presidents death
reads:
"The undersigned, desiring to testify
their appreciation Of the character of
James A. Garfield, President of the
United States, and to provide for his
family, hereby subscribe tie sums set
opposite 10 their names respectively to-
ward fund to be deposited with the
United States Trust Company of New
York, in trust, to be kept invested in
United States government bonds, and
the income thereof to be paid to Mrs.
Garfield, the wife Of the President, dur
ing her life, and at her death the prin-
cipal to be divided among the surviving
children of James A. Garfield"
The h. aiding of the subscription paper
sent out Since the Presidents death
reads:
The undersigned, desiring to testify
their appreciation Of the character OF
James A. Garfield, late President OF
the United States, and to provide for
his family, hereby subscribe the sums
set opposite to their names, respectfully
toward fund to be deposited with the
United States Trust Company Of New
York, in trust, to be kept invested in
United States government bonds, and
the income thereof to be paid to Mrs
Garfield, the wife of the late President,
during her life, and at her death the
principal to be divided among the sur
viying children of James A. Gal field. -
1t will be seen that not a cent sub
scribed under these explicit conditions
and deposited with the United States
Trust Company can be diverted to any
other uses than those specified in the
subscription papers, nor invested in
any other way than in United States
bonds. / have this afternoon received
check of 5000 from MIR. Wilson Wad.
dington and one of $3.50 from Mr.. Ben
jamin H. Field for Mrs. Eliza Garfield,
mother Of the late President of the
late President Of the United States.
shall deposit the same and forward 1t
with any other sums received TO her or
invest it in United States bonds for her
benefit as she may prefer.
CYRUS w. FIELD.