The Grenada gazette., 1888-02-11
PoST-MoRTEM CHARITY.
how to Bsstow Money and Endownent,
to tho Best Advantage,

now 10 B6stow Money and Endowin ent !,
to tho Best Advantage.
The will OF the late Mrs. John Jacob
Astor. while It does not dispose Of
any vast sum in charity compared with
the magnitude of the fortunes held by
the various members of that family.
iA nevertheless. a very practical ill.,
strument in the direction in which she
devised her money for public uses.
Her long connection with various in
stitutions doubtless taught her the
wisdom of helping those already pros.
porous aiding them to extend their
good work and improve ITS quality
rather than to found new ones that
might not be adequately endowed or,
at leas, that would not fulfill the ideas
Of her lifetime. There have been many
very wealty men in New York. closely
occupied in the care aud in
crease of their property. who
have been known to have formed q
deliberate design to leave large sums
OF money for the purpose of building
suitable public institutions in the city
where they have amassed their boards.
But when they have been confronted
BY the protracted and complicated
litigations originated by avaricious or
disappointed kindred. which We see
constantly in our courts. they have
generally abandoned the notion of
such post-mortem dissipation Of
their estates. Not only this. but Mr..
John Jacob Astor himself, in order to
provide against such contests in the
courts. has made formal recorded
transfer Of his many millions to his
only son; in consideration of which he
accepts an annuity Of 100000. Ger.
tainly. so astute man of business as
he is did not take step like this with.
out the advice Of able counsel and
with Wow to practical ends; and II
is highly probable that the example
will be often and conspicuously fol.
lowed by the possessors of notable
fortunes.
1t was James Lick. of San Francisco.
who first executed n trust deed invnlv-
ing fortune of sufficient magnitude
to attract National attention; but even
his provisions. now being carried out
with great wisdom and unbountled
liberalitv gave rise to bitter and de.
termined contests in the courts Of Cali
fornia which were only settled after
years Of delay. The fight over the
millions of the late Samuel j. Tilden
has but begun; and that over the Stew
art estate. conducted by able counsel.
is still in its infancy. In the splendid
generosity of Miss Wolfe all of the
heirs under the will. Or at law. con.
Cured; but such is not often the case.
Thus it would seem to be question
whether it would not be vastly better
for n millionaire intent upon doing n
great public service with his wealth to
convey the necessary funds TO trustees
in his lifetime? And if there Is the
faintest possibility that any of his
kindred would set out to break the
will. would 1t not be wiser, if he leave
his benefactions to be paid by regular
testament, that he should bestow them
upon existing institutions of varying
types, that are amply able to protect
their several rights. Moreover it sci.
dom happens that scattered bequests
are fought with the determination
provoked by vast sum left in y
lump.
This entire question of how to be-
stow money so that it will do the most
good is one of the most perplexing to
the rich. Also, it happens frequently
that many liberal bequcsts are de.
feated simply because the would-be
glver has no intelligent idea as to how
to execute his charity. Millions upon
millions OF money devised TO charitable
purposes are every year withdrawn
from circulation, and even the interest
locked up, awaiting legal decision as
TO the ultimate disposition of the
money, because the testator did not
take thosa precautions which ample |
experience has shown TO be necessary.
--Frank Lcslie's Weekly