The times. [volume] (Richmond, Va.) 1890-1903, 1897-10-09
FUNCTIONS OF CAPITAL.
LYMAN CAGES SPEECH
ar PEOKiA YEsTERDAY.
The Rich Not Growing Richer and the Poor
Pooror-Lessons Taught by the
Last Campaign.

PEORIA. ILLS, oct. s.-This afternoon
occurred the exercises dedcatory OF the
Bradley Polytechnic Institute TO which a
wealthy Peoria lady, Mrs. Lydia Bradley
has given s2.5O0,OOO.
The building is very handsome and spa
cious one OF white stone and near by is
another large edinco OF the same material
which VIII be occupied by theological
institution under the control OF the same
board OF trustees.
a number OF prominent educators from
abroad, including college presidents, were
IN attendance. The most notable feature
on the programme was the dcdicatory adj
dress by Hon. Lyman j. Gage. Secretary
OF the Treasury Mr.. Gage said in part:
MR. CAGES SPEECH.
Tho period OF time I'm which this en-
dowment comeo is especially fortunate.
We have reached time in our social de-
veiopment when all things arc challenged.
ana are to be put under new examinations.
The authoritative voice OF religion. the
long-received maxims Of politics. the thco-
ries of social and political economies, the
inherited wisdom and experience Of the
ages. the basis OF ethics. the origin and
destiny Of man-each and all are called
upon 10 make new answers TO the inquiries
of an iconoclastic age. Nay morel Afilr-
native doctrines radically destructive Of
congratulated opinions, are freely pro-
claimed, while a whole brood OF pessimis
tic philosophers proclaim the early col
lapse OF the social state. This affirmation
is based upon the real or the assumed
fact that In our material progress the just
rights Of The many are being sacrificed 10
the Unfair advantage OF the few.
THE rich" they say, ARE growing
richer The poor arc growing poorer.
Wealth IS tending 10 concentrate into rel
atively Tower hands. Invention 10 dis
placing labor Tho dependence OF the
masses is Increasing. Things cannot 90
on after this fashion. The climax is at
hand"
IF this we're all true, II the facts alleged
were facts indeed. things ought not to
60 on. The climax ought to be reached
and that speedily. even II It were 20 cost
the oblieration Of the solar system. But
the allegations are not true. they are con-
frarv 20 the natural order and are AZ va
Rance with the real facts Of the case.
Indeed they are impossible IN a free
state Of society. ! know they are iterat-
ed and reiterated in most respectable
quarters The press and the pulpit fire.
suently sound the doleful note. ard belief
In their truth Is taking dangerous hold
Of the public mind. That such a belief. II
not justified by truth. is most pernicious.
need not be affirmed II afiirms itself
The public mind should be sane not hys-
terical. l cannot take time 10 refute by
an array Of statistics. nor by protracted
argument. the calamtous propositions 10
which / have referred.
CAPITAL is TIMiD.
"Canltal must do service or II oles.
The new and unfamiliar forms in which
we so4 il co-ordinated alarm us. We see
tic pc-Ser: we forget the law OF its lie.
And vet. IL is held out 10 MS that capital
Is tprarnical and oppressive. that II ought
TO be feared restrained, legislated against.
The contrary Is the truth capital Is
timid IL has passed into an adage tha'
there Is only one bigger coward thah one
million dollars. and that Is twice as DIE
q coward. namely two million dollars
no we need evidence Of this fact? The
history Of the last four years Is SUI
fcient. INUNDATED by the menace OF a
change I'm the standard by which capital
&c EXPRESSED and counted. Il sought safety
I'm retreat and hiding. Treasured in the
nresent IL now seeks every avenue lot
safe and profitable employment. But II
IS affirmed that If capital itself Is IN
nocuous or even II it be desirable, II Is
dangerous 70 the state for any consid-
cradle portion Of q TO fall under the con-
troll Of one man. What may be regarded
ae dangerous portion is measured by
VARYING standards The man with one
thousand or ten thousand. honestly ac-
ouired feels a comfortable assurance that
be Is n useful member Of the state. ana
we all agree with him. He hlmseit re-
cards fifty thousand or hundred thou-
sand as not incompatible with righteous
nees hut five hundred thousand he sus-
meets and at a million he draws the line
and bv a general consensus OF opinion
we have come to distrust if not to nate
tho millionaire. Well. II they are worthy
to be feared. their number is not appail-
ing 49,. .r,,s
Tho institute was presented to the trus-
tocs bv The founder Mrs. Brady ana &C
cepfcd IN their behalf by the president
Oliver J. Bailey. ,.,... 100
An address in behalf Of the faculty was
delivered by +. r. Harper president OF
the university OF Chicago who Is also
president OF the faculty of the Bradley
institute.