The midland journal. (Rising Sun, Md.) 1885-1947, 1893-06-09
QUESTIONS OF THE DAY.
Absentee Lahdlordism.

look at the retirement of VIM. Waldorf
,Astor to England in a serious light.
There can be no doubt that he has gone
there "for good" and that we have lost
our richest millionaire. There have
been many complaints of late of the
drain on this country from the money
spent by American summer tourists to
Europe. Since it has become fashion
able among the millionaires to spend the
summer abroad it has called for large
expenditure of American dollars there
and the financial balance against US on
this account alone has been estimated
as between $lO0,0O0,OO0 and $780,
OOO,O year, largely causing the
balance of exchange which has existed
against us for some tiue. To this large
tribute which wo have been paying for
some years there have lately been added
several important items. The mar
riage of American heiresses to European
noblemen is proving very heavy drain
on us and not temporary, but per-
mauent one; that is, the foreign hus-
band does not get only gross amount.
but an annual revenue from the BRIDES
estate, and becomes, in fact, an absentee
landlord.
Now comes the removal of Astor to
England, which promises to inaugurate
a movement of milionaires to that
country. Many rich Americans live
largely abroad, and spend American
money there, notably Mrs. Mackay and
the Bradley Martins, the marriage CT
whose daughter to the Earl of Craven
the other day created social stir in
New Yorh but all these people have
been regarded in the light of tourists.
spending long time over there, it is
true, but still considering themselves
Americans, calling this their home,
coming here occasionally, and intend
ing to return permanently some day.
With Astor it is quite different. He
has definitely severed all connections
with America. He tried one year in
England, and, liking it, has moved over
there, bag and baggage. He has bought
three houses, .has become the owner of
several papers, and will devote himself
in future to his British interests. He
has already spent many millions there,
and all the income from his immense
estate of $lSO,0O0,0OO will in future be
expended abroad. This is the begin
ming of system of absentee landlord
ism which promises to be far worse than
the tribute paid by summer tourists.
Some hundred thousand New Workers
will henseforth pay rent to British
landlord, Mr.. Astor, not a cent of whose
money will ever find its way back here.
1t is the beginning of system
absenteeism-which impoverished and
ruined ireland not many decades ago.
1t is not probable that this exodus Of
millionaires will stop here. The ten :
dency OF New York and Eastern society
generally has beensin the direction Of
England, and Anglomania mas ragged in
Manhattan. 1t has hitherto confined
itself mainly to the imitation of the
English customs, dress and habits; now
it proposes to move to England. The
departure of a man like Astor, the
richest millionaire of them all. naturally
attracts attention, but others will follow
and the social and other successes he
has met with there will encourage this
exodus. 1t promises, as we have said
to beget serious problem. Congress
protested some years ago against the
large landed possessions Of foreigners
in this country and some regulation
has been aimed, especially in Texas, al
the foreign ownership of American
land. But even should it be desired tc
reach those American absentees who
spend their income in Europe, there is
no way of doing it.
We may look, therefore, for BIG
exodus of millionaires. For this the
American people are themselves largely
responsible. This is country of mil
lionaires. No other land possesses hall
as many, and their number is constantly
increasing. The New York TriJune'
list published last year showed 1890
persons worth over million each, witt
new ones springing up at the rate o.
800 a year. Our commercial anC
financial system seems to encourage thu
development ofvery rich men. But, aftel
the millionaires have been created, WI
do not know what to do with them
We have plenty of rich men, but in mt
country have they fewer enjoyment