Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1882-12-16
aancaster :antelligencer.
EVENING DEC. 10, 1881,
Great Sueculators' Testimony.

The New York Senate committee,
which is seeking information upon spec
ulation from Spectators, seems to he
conducting the investigation very COM
fortably, both to itself and the distin'
guished operators who are its witnesses.
Mr.. Vanderbilt, Mr.. Gould and the
other men, who have high reputation
in the country for skill in filling their
Golfers, though they toll not, neither do
they spin, appear before the committee,
tell their tale, give SO much of their ex-
perience as they are disposed to give,
and ventilate their opinions as they feel
inclined, and then step down without
Icing subjected to any inquisitorial ex-
animation that might he disagreeable to
them, but would he likely to he profit
able to the public and conclusive to the
object which the committee has as its
aim. The testimony given before the
committee is no more valuable nor Gitier-
tnt in kind from that which the news
paper reporter can get from Mr.. Van
derbilt, Mr.. Gould or any other of
these speculating probabilities any
time they have anything that they do
not object to publicly stating. MIR.
Gould uses his seat on the witness stand
on this occasion to advertise his western
roads and lands, in expati@ting upon
their Gesirability to the immigrant land III
d claring that Though he is not pro-
ductr of wealth, yet his speculationS are
go1d for the country, because the, make
things lively and stimulate enterprises
which attract foreign people and foreign
money. Speculation is a legitimate
business. Mr.. Gould thinks. and
is not gambling unless the Leg
islature says So. His idea seems TO
he that gambling Ioes not exist except
as the Legislature declares it. Faro is
gambling because the law sayssO; other
wise it would be as legitimate speculation
rs betting on the future price of grain or
stocks, which is the profitable business
of the distinguished witnesses who have
entertained this New York committee.
1t is perfectly natural that Mr.. Gould
should consider his business legitimate
and even that lie should persuade him
self that it is beneficial to the country.
We do not know any man who can
not plausbly explain that he is Il pubic
benefactcr. If he makes his money 1T
cards, he is acting as distributor in
relieving plethoric purses and sending
their contents gaily circulating. The
thief does like good to the cOIimu-
nifty he hardly ever is miser; and lie
generally steals from those who can af-
ford to he stolen from.
Some of these days progress is Likely
to be made in developing Mr.. Gould's
idea of useful citizenship in 4 way that
will not see0 good way to those who,
like him, have amassed vast fortunes fal
beyond their needs and that in their
magnitude are threatening TO the public
good in general estimation. The people
will he likely to say that the lives of s,cl
men rs Mr.. Gould should be made truly
useful to the state; that it should use
them rs the silk worm is used by the
grower and that when their silk is
made, and they die and leave them be
hind them, they shall be contiscated
for the public treasury. The idea may
grow that The lives of the great money
getters may BE- made generally profitable
by letting them gather what they can
spin, but forbidding them to dispose of
it all when they die. There is no natural
right of property in Il man after his
death. Tie state permits him to dispose
of bis possessions by will, and if he
makes no will it gives them to his rela.
tivcs. But it may change this :. and
the question even now arises, whether
the great private fortunes that are being
accumulated in these days should be
left i'm the power Of their owners to dis
pose of when their individual use OF
them has ceased. II the matter is to be
decided for the public good, and ii tht
best use is to be had out of the lives OF
those great SPECTATORS, the mass Of tiieil
money will be segregated and started
afresh in its tendency toward accumala.
tion. The man of money can lie made
to be lis own distributor {; the object
being not so much TO seize his money fol
the public treasury as TO destroy il:
massed weight. a law which fOrbi.ls al
inheritance beyond 4 certain amount
will compel testators who have over.
grown estates TO divide them up am ,ng
many. Certainly the maintenance of
very great estates beyond one life is al
evil, which the law should seek l.. lem
edy. If this can be done and The never
dying corporations can lie Gu; dpwh to
reasonable size, the dangers that
threaten tie country from the moneyed
power will he greatly lessened.
SOME of our esteemed contemporaries
think that declarations from candidates
for sneaker or the OupSiiOn of what re.