The central Presbyterian. [volume] (Richmond, Va.) 1856-1908, 1886-01-27
(From the New York Sum-
DR.. Crosby on Wealth.


To the Editor Of the Sun:
Sir,-You quoted lately passage from
an article of mine on overwealth, and in
vited me to explain my views. They are
simply these:
l. Dangers to the peace and prosper
lty of the country must be guarded
against by the government and laws.
2. Men and corporations, so large Pc
cuniarily as to be able to buy up legisla-
lures, are danger to the peace and pros
perity Of the country.
3. The acquisition and holding of such
wealth should be carefully hedged about
by wise legislation.
There is my syllogism. Now let me
add few notes
of individuals and corporations is made
by lying, stealing, and oppression. The
running up and down of stocks, what is
known as "bulling and bearing" is prac-
teal lying, and has nothing to do with
real values. Stock watering is nothing
but stealing. Credit Mobilier schemes,
by which directors rob stockholders to
enrich themselves, are common methods
OF expressing the poor who have been
fooled into putting their little all into
stock.
2. The rich man is protected by law,
and what with preferred creditors, and
property held in his wifes name, and a
hundred other devices, he fails and is as
rich as ever. The poor man is thrown
out of employment and has nothing to
Ia ha ~ al
moments notice, and has no redress.
3. We need legislation that will de-
lend the poor; e. g., making a month 8
notice necessary before discharging a
hand, paying him by the year as sala-
ried man, and giving him proportional
interest In the concern.
4. We need legislation that will make
the man, as he grows richer, to bear
more of the public burdens The grad
uated income tax would be the most equi-
table. If that be impracticable, as many
hold, then let the nearest practicable
plan be adopted, SO that with us, as in
ancient Athens, the rich shall bear the
chief burdens of the state.
5. We need legislation to restrict the
power of corporations, forbidding and
preventing gifts direct or indirect, all wa
tering, all use of franchises without full
payment of value to the State, all inter-
est of directors In side schemes of para
site nature, all secrecy of operation, all
combination with other corporations, and
all exorbitant dividends at the cost of the
public.
6. With such legislation there nc
no limitation of property. Justice, equal
to all, will give trade and acquisition a
natural health, which is now denied by
partial Legislation in favor of the rich
and of the great corporations. With such
Legislation property will be naturally
limited, and there will be no place for
discomfort or socialism.
7. Ii we saw man a mile high stalk
ing over this way from the west, and dis
covered that he had already trampled
eight or ten towns into ncthingness, we
should feel called upon to take measures
to suppress him before he could put his
big foot on the "Ssma" building and blot
out its light forever. He would be
danger which we would be justified in
preparing against. Our great corpora
tions are very much like this giant.
They crush thousands where they tread.
They hire journals, courts, and legisla-
lures, and have everything their own
way. 1t is for the people of our land 30
to curb this power that it may be only
useful and not harmful. If this be social
Ism, am Socialist.
HOWARD CROSBY.