Smyrna times., 1885-12-23
Millionaries Of Future.

The Vanderbilt fortune has become
subject of popular conjecture and
crude generalization. There are many
sOber-minded people in the community
who are now amusing themselves with
calculating the income from the richest
estate ever known, and reducing it
from years to months, and even to
days, hours and minutes. Then there
are more ingenious arithmeticians who
are occupying their spare moments in
computing the increment of such vast
possessions, and in forecasting the
growth of so enormous a fortune dur
ing the next ten, twenty or fifty years
on the basis of the accumulatiOns of
the last seventy years. The human
mind seems to derive a fantastic pleas
ure from idle speculation upon the
magnitude of the investments contrOll-
ed by the head Ofa single family. The
fact that in the course of two genera
tions has been accumulated a fortune
vastly greater than that of Crassus, by
which armies were supported and the
Roman populace bribed, or than the
enormous estates of the Duke of West
minister in England or the Vienna
house of Rothchild, exercises a potent
fascination over mems imaginatiOns.
If the first generation amassed $780,
100000 and the second in an incredibly
short term succeeded in doubling the
investment, what will be the aggregate
result, with long life. prudent manage
ment and a reasonable degree of
National prosperity, at the close of the
third generation? Will the 5000, 100000
be doubled or trebled? Or is it posi-
bic to assign any limit to the fortunes
of the millionaires of the future?
These are questions which many
Thoughtful minds are considering in
sheer bewilderment. If the wealth of
the Vanderbilts were an isolated fact
in American society, its magnitude
would merit less attention. But it is
only the most conspicuous of series
of American fortunes as rapidly made
and already surprising the richest es-
tates in Europe. If the development
of the material resources of the United
States is the greatest marvel Of the
modern world, the accumulation OF
private wealth has been on a scale un-
known in human history. Very little
discernment would be required in fore
casting that before the century closes
there will be at least twenty-five
American estates as large as the Van
derbilt fortune now is aggregating
among them a sum in excess of the
National debts of the United States
and Great Britain. This is an entirely
reasonable conjecture, not only because
rival private fortunes are already ap
preaching the Vanderbilt level, bur
mainly because there is no apparent
possibility of limiting the accumulation
of wealth.
Fifty or a hundred years ago com
merce offered the largest OppOrtunitie'
for rapid mOney-making But a com
mercial fortune involved great risk
against which it could not be adequate
/ ly insured, and it entailed the employ
ment Of numerous partner and count
less agents, among whom the profit
were divided. A prosperous merchan
after making a million in trade retired
from sheer WEAKNESS caused by thu
constant strain of managing his bust
ness. How different are the condition
under which the management of
NOlOoStll AOl bunC NtAL uC AClfNllCu UN
single hand! A vast property like tn
Vanderbilt railway interest, in tn
long run, practically insures itself. /
becomes possible with the aid of per
sOnal representatives in boards of direC
tors for the one mind to control half
dozen railway corporations, and to i'm
part to immense masses of capital tn
impetus of single will. PRACTICALLY
there are no restrictions upon the eX
pansiOn of the wealth Of these million
aires of the future. The care of tw
hundred millions is enormous, but nc
mnch greater than the care of on
hundred millions. 1t is only a matte
of few additional combinations, fey
more representative directors.
In view impOssibility of preventin
the growth of such fortunes by legisls
tion, or of limiting them in any Othe
way than division by inheritance, tn
conservative manner in which th
Vanderbilt estate has been managed
worthy of consideration. These vas
mOneyed interests have not been use
in corrupt or irresponsible way
They have been legitimately emplOye
in strengthening the corporations wit
which they were invested. The VaI
derbilt fortune has been in hands ths
were nerved with a sense of persons
responsibility. To those who al
alarmed by the prospect of the accu
mutation of private fortunes of indei
mite magnitude this is a reassuring fac
, N. Y. Tribune.