The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1899-05-06


claim against what they call the unjust
distribution Of riches among its mem berss
no remedy for the alleged evil has yet
been found, nor Is any in sight. Just
now politicians and newspaper editors are
clamoring for legislation to prevent the
formation and operation of well-watered
trusts, meaning thereby the concentra-
ton for industrial and mercantile pur.
suits Of. large amounts of capital in the
control of single corporations.
The fear is loudly expressed that such
concentrations tend to destroy the liberty
of individuals and to impoyerish the
community in general. 1t Is not con-
sidered that these terrible monsters are
composed of q multitude of harmless in.
dividuals, leach of whom furnishes la por-
tion Of their capital, and that, so far from
impoverishing the community. they help
to enrich 1t by increasing production and
reducing its cost.
UNREASONING HOSTILITY ITO
CORPORATIONS.
Indeed, 1t is curious illustration of tn
way in which men allow sentiment to
obscure reason that the same hostility
which, directed against individual pos
SCISSORS Of great wealth, might be ex.
planned by the natural disposition of the
unsuccessful to envy 1.-THE successfully Is
also manifested against corporations, as
If they were. single individuals.
Railway companies, gas companies and
manufacturing companies are denounced,
and efforts are made to curtailj their
profits, in disregard of the fact that the
losses to be inflicted on esem would fall,
not upon their managers alone, but also
upon hundreds and thousands of little
stockholders, whose investments In any
other shape would be respected.
The ownership of the New York Gen.
trial railway, for instance. is divided
among IL, 600 shareholders and, of its en-
tire 500, oo0,OOO capital .the Vanderbilt
family own less than one-tenth, and Eyet
the company Is constantly spoken of as If
the Vanderbilts con stituted the whole of
1t, ard would bear the entire brunt of
any injury inflicted upon it.
The same thing is true of the city gas
whose earnings it is sought
to reduce by reducing the price of gas.
Their stockh olders are numerous, and
the average amount held by each is in
considerable, and yet. because in the ag-
gregate their investments are large, they
are attacked, as if each one was indiyidu-
ally millionaire
The Metropolitan Street Railway COM
pany, again. is regarded as the sole prop
erty OF two or three men prominent in
its management, when, In fact, it is tho
property of many thousands of inoffensivs
who have not the Fslightest idea
of depressing anybody.
INCONSISTENT ATTACKS on
WEALTH.
Another curious inconsistency is that
Of denouncing as sordid and inhupan in
, millionaire the sam avidity for wealth
which charaoteriZes nearly the entire
The first settlers in this
except very few Puritan en-
came hither for the avowed
purpose of improving their worldly con-
iition.
1t was the interference of the mother
with our freedom of trade and
which produced the revolution of 1776,
Since then our population has been
'ecruited annually by hundreds Of thous-
.nds of immigrants from Europe who
lave been attracted by superior facilities
which they find here for gaining wealth.
Hence money-making has naturally
,ecome the dominant aim Of our people.
To seleot.for condemnation the few who
onspicuously succeed in it to the ex-
fusion of the vast majority who either
all altogether or are only moderately
uccessful is unreasonable.
The worst consequence of the prevalent
ilification of our more successful money.
makers is that it tends to exclude them
rom the management of public AFFAIR."
nd to admit to it only those who have
heir fortunes yet to gain.
In older countries Great Britain e.
er a man has demonstrated
a his private business his administrative
bility he aspires to political distinction.
nd his private success is recognized az
ntitling him to it. Parliament and the
serage are full of millionairsS who have
scome such by their own effo rts, and
never brought up against them asa
proach. 3ssyss -.
EALTH AND THE PUBLIC SER
VICE.
Nor is the possession of an,independenct
teemed there a disqualification for tho
u bile service as it is here. Young men
liter Parliament direct from Oxford or
am bridge, and attain, step by step thu
ghest offices, without having any meana
support beyond their inherited wealth.
Here both the original accumulators
millions and those who inherit them
e debarred from such careers. They
e shut up either to continuing their
efforts and seeking nsw
Ids for them or to waste their energies
fri volous amusements
That they are willing to devote Them