Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-05-10
WHY CARNEGIE SOLD OUT.
What He IN to DO WIZ"
sI5O,OOO,OOO.
Seu York .Jouinal.)

an jn,crviexv with the Journal cores
pondent to-day, said: TRUSTS nave never
| frightened me- The Carnegie steer Com-
! many has he'd no occasion TO fear any
| trusts. 1t Is the greatest property OF
the kind the world has seen or ever VIII
| see. since the coke and coal-helds ana the
| iron-mines OF the world are pretty wei
! known. certainly did not sell out
because business was unprosperous; IL
| never was so prosperous or prospects so
| good. / sold out in pursuance OF my
policv. determined long since. not to spend
my old age in business, struggling Tor
more millions / believe in useful, dlg-
mined. unselfish retirement after ~.
Answering questions as TO what ne
would do with his 500 100000. he said: Il
| hope | shall not justify the definition,
| sometimes deserved, of a phianthropist.
| rs a man with a deal of money but little
sense
IL intend to complete the distribution
| of my wealth, reserving only provision
against any anxiety for the future OF
my daughter. She will not be a great
| heiress.
my time Will be spent in searching out
| good objects, both in America ana Great
| Britain, and I'm writing
Asked how Il was that Americans were
| getting ahead of British and other Euro
pean countries In securing orders. Mr..
Carnegie replied: II have been telling
my native land for the last fifteen years
what was coming, and am not surprised.
Industrially considered, the American Is
the ablest, quickest, most versatile man
the world has yet seen. He is more
skilful workman than any other
But. Mr.. Carnegie" said his interview
err, Britain has got long way ahead OF
other nations in the Industrial struggle
Every good" he replied. but the Bri-
ton never before had to compete with his
| own blood"
you think. then, that this race compe-
tition is beginning to exert its legitimate
| nfiuence?"
MUCH KICK IN THE BRITON.
"Quite So" said Mr.. Carnegie. ION the
other hand" he added, there is a great
| deal of kick in the Briton when he has
| to meet superior competition. nave
great faith in his ability TO change his
method Of fight. but one very difficult
question he has to face Is that raw ma
| terials are rapidly being worked out in
the old country, while in America they
are only touched upon. L am not, how
ever, a pessimist about the gloomy future
| for the Briton.
How do you think the whole question
will work out%'
| "WeIl. as far as iron and steel are con-
cerned," replied Mr.. Carnegie, THE wants
| of the world will tax both America and
Europe. There are only three countries
| which can furnish much of these arti-
| cles-Great Britain, Germany, and the
| United States. The former two are now
working at their fullest capacity, but can
| nor meet the increased wants of the
| world. which must be through the United
| States. But / think Great Britain and
Germany will have nothing TO complain
Of as their fullest capacity will always
| be required by a constantly-growlhsW world
and increasing consumption OF steel: IN
any temporary depressions there VIII De
a surplus OF American material, ana that
| is what American manufacturers nave
had to stand since l began to manufac-
! ture. except I'm dull times. Both Germany
| and Great Britain will be taxed TO their
| utmost capacity, as at present, 10 meet
| the worlds wants in iron and Steel
Anent the present position of the bust
ness deal proceeding I'm America, l must
still decline to say anything
Mr.. Carnegie reports the story OF
I formation OF an international steel COM
| bine of American and British interests
|
| doing nothing with such a scheme.
He remains in London for a few days,
may make short visit to Paris, and
then 20 to Skibo Castle, Scotland, for the
| summer -
| DEPEW SAYS CARNEGIE WILL NOT
| GIVE ALL
| Senator Depew, a man acquainted win
rich men and their habits, was hardly
willing to believe that Mr.. Andrew Carne-
gle had any intention OF spending his de-
clining years in giving away large por-
ton of his principal, at least until ne
should receive further and more Definite
| information that such was fact. MI
| Carnegie" said Senator Depew, mas been
one of the phenomenally successful men
| He has made a tremendous fortune. DO
not believe during his lifetime that he
| will. under any circumstances, give away
more than his income. If a man has an
| income Of say 100000 a year, it Is not
| real philanthropy to give away n mllllon'
To give away $500 when ones income Is
| $4,000. amounts to much more-and there's
not much self denial in that, either.
1.-THE widows mite" Senator Depew
went on "still continues TO represent real
philanthropy. / do not deny that the 81
| 100000 which Mr.. Carnegie has dispenser
! In charities has done a great oeal Oh
| SOOl, ana COiilpdl lAi' ''-''
the amounts given by other millionaires,
the proportion even is largely In Mr.. car
| negos favor.
| mir. Carnegies income last year was l
| understand. about 81, 10000. His guaran-
| teed income from the sale or MS WorhS
is 100000 a years per cent. on slW'"o-
| 0C0 These works have been earning 81
10000 to 100000 annually Tor years
When you come to think of this, sl2'cJo.-
| 900 scattered over many years Is not such
a large sum, proportionately." Senator
| Depew said that he had a iriehu "n n','
| income was q million dollars year ms
| friend gave away in charities every cent
of this income, retaining only enough to
| live on in a modest fashion lie consiucr-
ed this charity after the widows mite
plan, for the man not only gave uhosteh-
tatiously and without letting his right
hand know what his left hand dld. put
practiced self-denial and gave 10 the eA-
| tent OF his ability.
~~- = a.