The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-09-04

enlightened us, there must have been
dynamite for him in handling that ques-
ton. Had he gone on the stand, l had
information as to gifts received by him
as TO which l would have questioned him
ana proven the nice gratuitieS. He dared
not come on the stand.
The name of this room "Benefactor's
Parlor' and building, Duke Building"
and the Mary Duke build
ing, the Washington Duke Society, and
| know not how many similar labels here
show that the influence of gifts is
more powerful than the resolutions of
Conferences. As to what influence the
wishes of these "benefactors" have in
your meetings l need not say to you
who already know all that is to be known
about that Gratitude is cOmmendable
virtue of course, but why if all this is
gratitude alone and not Il lively sense
OF favors to come did DIR. Kilgo direct
young Mr.. Ellington last commencement
to take down the portrait of Col. Julian
$. Carr from the wall where it was hung
with others to decorate the hall for the
OCCASION saying 1T is not fit to be hung
in my cellar" Col Carr has not given
as much as the Dukes. He does not be
long to trust. But he gave money
at Il time when it was needed to save the
college and gave these grounds on which
our buildings stand, and his name should
ever he held in grateful remembrance
here and in high honor as it is held every
where else in North Carolina. | did
not offer this proof as under DIR. kilgOs
views as to the evidence of Mr. Webster
and others excluded by him | knew it
would have been a vain attempt but the
evidence was at hand.
Protection of the rights of property is
one of the primary objects of all gov
eminent Formerly the danger to prop
crty holders was i'll the vagabond thieving
class. Hence all our laws are framed
to protect property from those deprcda-
tons, which amount in the aggregate
probably to SlD.vvO or so Il year in this
State. But now the danger to property
and the producer Of wealth is more IT the
OtAer end Of the line. in the enormous
aggregationS of wealth which fix the
prices of products and take from the pro-
ducCrS millions where the other dCpre-
datiOns which we guard against so care
fully. amount to Il few thousands.
Against this new enemy to property, our
laws are made but we have not vet
found out how to enforce them. Our
laws are like the cannon Napoleon faced
at the Battle of the Pyramids. Through
his field glass he discovered that they
were not on wheels and could face only
one way and he simply marched round
took them. Our laws have been so long
faced towards the petty violators of the
law, that we do not know how to fire
them against the big deprcdat0rs, the
predatory rich" In the meantime they
endow colleges to educate the young.
own newspapers to attack the independ-
ent who will not bow to their rule and
set in motion every machinery to prevent
the execution of the laws enacted
against them. Mr.. Calhoun said: He
who earns the money. who digs it from
the earth with the sweat of his brow.
has n just title to it against the universe.
No one has a right to touch it except
his government and the latter only to
the extent of it's legitimate wants -. Good
doctrine but this trust by its combinn-
ton takes Il large part of the earnings
of tobacco farmers and because it has
that money it is to be laudcd but pun
ished,
Let me MS a matter OF public import
ance read as IA part of my remarks eX-
tracts from Il pamphlet | have in my
hand issued by that eminently wealthy
and hence intensely respectable associa-
ton the American Bankers Association
of which one of the Trustees of this col
lcge is an officer. 1t is pamphlet which
is not sent to every One-a rather eXclu
sivc affair probably. At its session III
October, 1889 it passed this Resolved,
that the Executive Council is hereby di
rected to carefully consider and if posi-
BILE devise some feasible plan whereby
this Association may encourage or pro-
mote the organization of Il school or
schools of Finance among our institu-
tons of learning and report upon the
same to the next convention" At that
convention of 1890 in the address of
Prof. James delivered by request and
approved by the Association he said it
was Il pleasure to discuss the subject of
establishing these schools before a body
of men who have unusual means of in
fluencing public opinion in regard to it,
and said it was possible ito rCvolutionizc
every college i'll the country" He re-
ported that Mr.. Wharton had already
secured the establishment of one such
such school" at the University Of Penn
sylvania ''by the gift Of 100000 to the
University" He further said that ''bc-
You'd all question in this country the
great merchant prince, the railroad pres
ident, the great manufacturers and bank
er have succeeded to the place of power
once held by the great orator, states
man. lawyer or clergyman. The profess
siOnal class is losing ground, the bust
ness world gaining it. Whether for
veal or woe, the control of government,
of society, of education, of the press.
yes, even of the church is slipping more
and more rapidly into the hands of the
business classes and it is this class which
to an ever increasing extent will dOmi-
nate our political and social life"
Down with manhood, up with the dol
lar. The proposition is at least clearly
stated. He then speaks of the exist
ence of wealth for several generations
in family" as ''the great means of
bringing out the finer sides Of life. inn
proving the strain of the stock" and de-
nounces those who do not understand
the necessity of that as having 1.-The mar
rowness and selfshness of the meancst
hayseed of them all" He further says
that the students in these proposed
schools of Finance will become journal
lists. lawyers, college professors and thus
able to educate public sentiment In the