New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-12-13
1tLLLlnHliREN OF ME rrrrEE

NiiIIDN HIKES ~ mr. / mr..
The Vanderbilt fortune has become a subject
of popular conjecture and crude generalization.
There are many ,obrg-miudcd people IN the
community VINO are now amusing themselves
with cllcalltiu. the income from the richest
estate ever known. and reducing It from years
to months, and even 10 days, nouns and nm
utcs. Then ,hrrc are more iuEcrlon' ariih-
ucticiap> who are occupylu, their spare
moments iu computing the Increment OF such
vast POSSESSIONS and IN lo.rca~tiuE the growth
oi 80 enormous "a fortune dHrln- the mex ten.
twenty or fits year, ON thc basis ol the accum-
ulatIons of the last seven years. The human
mind seems to derive fantastic pleasure from
idle speculation upoa IN" magnitude ol the
Investment, controlled by the head OF single
family The fact thLt in the course of two
generation, has been accumulated fortune
vastly greater than that of Ca-~u-, by which
armies were Supported and the Roman popuIacc
biibcd, or thdn the enormous estates OF the
Duke oi Westminster IN England or the
Vienna house of Kpth.child, exercises potent
fascination over mems Imdginatou,. II the hr0t
generation amas,cd SlOO,ouu,Ooo and the
second in an incredibly short term succeeded
i'm doubling the investment what VIII be the
aggregate result, with long life, prudent man
;.,rmcnt and reasonable degree OF National
pro,prrity. ~ the close ot the third generation
VIII the 5000. OOO, 900 be- doublcd n trcbicd
Or is it possible 10 assign any limit to the
fortunes of the millionaire, oil the future
These are questions which many thoughtful
mind, are considering IN sheer bcwildcrmcnt.
# tine wealth of the laudubil's were an $50
lated fact in American society, it, magnitude
. l,.t l,,.
most cnn,picuous oi series oil American
fortune, a. rapidly made and already ourpa,s-
Ing the richest estates in Europe II the dcycl-
opmcnt of the material resources Of the United
State, is the greatest marvel OF the modern
world, the accumulation ot private wealth has
also been on a scale unknown in human history.
Very little disccInmrut would In required in
forccasting that before the century closes there
will be- at least twenty-five American estates "a,
large as the Vanderbilt fortune now is, aggrc-
eating among them sum IN excess of the
National debts of the United States and Great
Britain. This is an entirely reasonable cOnirct-
urc. NOT ONLY because rival private fortunes
are already rapidly approaching the Vanderbilt
level. but mainly because there Is no apparent
po.-ibilit, OF limiting the accumulation Of
wealth.
Fifty or a hundred years ago commerce
offered the largest opportunities for rapid
+ money making. But a commercial fortune in
yolycd great risks against which it could not be
adequately insured, ANA it crtailed the employ
mcnt of numerous partners and countless
agents, among whom the profits were divided.
\ prosperous merchant after making million
in trade rttircd from sheer WEAKNESS caused
BIZ the constant strain of managing hls business.
How different are the conditions under which
the management Of a colossal fortune can be re-
tanned by single hand \ vast property like
the Vanderbilt railway interest in the long run,
practically insurc5 itself. 1t become, possible
with the aid OF personal representatives. in
boards of directors for the one mind to control
half a dozen railway corporations, and to i'm
part TO immense mdssrs ol capital the Impetus
OF single will. Practically there are no
restrictions upon the expansion OF the wealth
of these mllionaircs of the future. The care
of two hundred millions is enormous, but not
much greater than the care of one hundred
millions. II is only matter of a few additional
combinations few more representative
directors.
In view Of the impo,Sibllity Of preventing the
growth OF such fortunes by legislation, OF Of
limiting them in any other way than division
by Inheritance. the conservative manner in
which the Vanderbilt estate has been managed
is worthy of considerations These vast
moncycd interests have not been used in
corrupt or irresponsible way. They have
been lcgitlmately employed IN strengthening
the corporations with which they were in
vested. The Vanderbilt fortune has been in
hands that were uervcd with sense of per
sonal responsibility To those who are