The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-10-09
PEORIA INSTITUTE DEDICATED.
srcRETARY GAGE DELIVERS THE
OBLIGATORY ADDRESS.

His subject, Are the Rich Growing
Richer and the Poor POOrer."
AIRS. Lydia Bradley Presents the
RutIding - The address of Accept
apce Delivered by President oliver
>. Bailey.
peoria. H., Oct S.-Ths afternoon oc-
,,,rrsd the exercises dedicatory of the
rradley Polytechnic Institute, to which a
wealthy Peoria woman-Airs. Lydia Brad
ls,-has given $2.5OOO0O. The building. is
very handsome and spacious one of
White stone, and near by is another large
.3iace Of the same material, which win
he occupied by a Theological institute I'M
Ter the control of the same board of trus-
tees A number of prominent educators
from abroad, including college presidents,
were in attendance. The most notable
feature on the programme was the dedi-
,atory address by Hon. Lyman J. Gage,
Secretary of the Treasury.
In on part of his address he dealt with
the question, ''Are the Rich Growing
Richer and the Poor Poorer" On that
subject he said:
THE rich" they say, "are growing
richer The poor are growing poorer
Wealth is tending to concentrate into rel.
atively fewer hands. Invention is dis
placing labor. The dependence of the
masses is increasing Things cannot go
on after this fashion. The climax is at
taud'
.If this were all true, if the facts al
leeed we're facts indeed, things ought not
to 90 on. The climax ought to be reach
ed and that speedily, even if it We're to
cost the obliteration of the solar system
Bu. the allegations are not true; they are
contrary to the natural order and are at
variance with the real facts of the case.
Indeed, they are impossible in a free
state Of society. 1 know they are tier
ated and reiterated in most respectable
quarters. The press and the pulpit fire.
quently sound the doleful note, and belief
in their truth is taking dangerous hold OF
the public mind. That such a belief if
not justified by truth, is most pernicious,
need not be affirmed. 1t affirms itself.
The public mind should be sane, not hys-
teral l cannot take time to refute by
an array of statistics, nor by protracted
argument, the caamitous propositions to
which | have referred.
Permit me to indulge in some consid-
eratons which, If not conclusive in char
acter, may help us to suspect the validity
of the pessimistic argument. 1t must,
however, be admitted that many things
open to common observation seem to JUS
lent. Never before were fortunes of such
magnitude brought under the control of
limited groups of men. Never before were
corporate agencies created and endowed
with such enormous capital Never be-
fore were enterprises in commerce, in
manufacturing, in transportation, of such
magnitude put into operation to affect, for
good or i'll, the happiness and welfare of
society. Realizing the enormous power
thus exercised, the Imagination becomes
affected. We become afraid. We grow
hysterical We fail to take just account
of things.
our fathers rode in stage coaches or
made their slow and limited journey on
horseback. All the factors in the case
were easily comprehended. To-day a
thousand locomotives, weighing each
hundred tons, are flying over the rails
with hundreds of helpless passen-
gers imprisoned in coaches trail
ing behind. Around curves they go, over
bridges, through the forests,
alongside mountain precipices at
the rate of 80, 60 and 70
miles the hour Tireless, irresistible, the
iron monster, at the head of the flying
column, leads the way Accustomed by
use comfortable and unconcerned, the
passengers chat with each other in hap
py expectation of speedy and safe arrival
home Why so unconcerned when the
malice of one man or a moments neg
lect, or even forgetfulness In any one of
a dozen agencies contributing to their
safety, may lead to instant wreck and
death? What guaranty have they that
the man who walks the track, the driver
who sits in the cab, the train dispatcher
hundred miles away, at whose tele-
graphic command the train proceeds
or waits, will each be prompt, in
tellgent, and faithful, for upon
each and all of these life depends? This
guaranty they have. 1t is this this only:
The guaranty of self-interest which en-
forces the exercise of all these qualities
upon every man from the president of the
great corporation down to the man who
supplies oil to the boxes where the aXles
run. Faithful and efficient service is the
fundamental condition of success to the
associated capital embodied in the road.
The same law operates with manda-
tory power upon associated capital in all
the forms of industrial action, whether
the association be small or great. Capital
must do service or it dies. The new and
unfamiliar forms in which we see it CO.
Ordnated alarm us. We see its power;
forget the law of its life. And yet, it
is held out to us that capital is tyrannical,
and oppressive, that 1t ought to be fear
ed restrained legislated against. The
contrary is the truth. Capital Is timid.
1t has passed into an adage, that there is
only one bigger coward than
one million of dollars, and that
is twice as big a coward, namely, two mill
Ions of dollars. DO we need evidence of
this fact? The history of the last four
years lis sufficient. Inundated by the
menace of a change in the standard by
which capital is expressed and counted, it
sought safety in retreat and hiding. Re-
assured in the present it now seeks every
avenue for safe and profitable employ
ment. But it is affirmed that if capital it
self is innocuous, or even if it be desira-
hle 1t is dangerous to the state for any
considerable portion OF it to fall under the
control of one man. What may be regard
ed as dangerous portion is measured by
varying standards. The man with one
thousand or ten thousand honestly ac-
CURED, feels comfortable assurance that
ne Is useful member of the state and
we all agree with him. He himself regards
HItX thousand or a hundred thousand as
not incompatible with righteousness, but
AVe hundred thousand he suspects, and at
million he draws the line, and by a gem
eral consensus of opinion we have to come
70 distrust if not TO hate, the million
ave. Well, If they are worthy to be fear
ca, their number is not appalling.