The Hawaiian gazette., 1899-08-22
IN" . t,,hiE

pOrtant social ana charitable force !
these Islands. Even at the preser
value of its property, 1t is a power tina
is felt In many directions. A char
table trust of the same resource.
established on the Mainland, IL its re
sources were estimated In compariso
with the resources Of the wealthies
State in the Union, would attrac
serious attention. A general compare
tive estimate would place simila
trust in the control of several hundre,
millions OF dollars. The largest singh
charitable estate in the United States
is that of Trinity Church, in New Yorl
city whose property Is valued, we be
lieve, at $40, 100000. But at this valu
alton, II does lot, as yet, attract tn,
popular attention, because 1t is rather
insignificant in comparison with the
real value of property, real and per.
sonal, in the city which has, probably
value of at least twenty-five hundred
millions of dollars. A comparison on
the basis OF the ownership of land
would give similar charitable insti.
tuition on the Mainland, over one thou.
sand million Of acres of public lands
This large and comparatively abnor-
NAL ownership of land will soon force
the estate into continual and, at times
unpleasant prominence. A charitable
trust, with such vast comparative
wealth, will be the target of the poll
ticians and dissatisfied. And 1t will be
especially liable to attack because IT
owns large tracts of land in a country
where, excepting on Hawaii and Maui
1t Is almost impossible for a poor man
to obtain a home at any moderate
price, and the rich land owners in
crease their holdings at every oppor-
tunity. Such conditions invariably
raise issues about the rights, and duties
of charitable trusts. The tendency OF
Anglo-SaXon legislation is to limit the
holdings OF such trusts, in view of the
great damage they have done to the
people, in the past. II will be remem-
bered that recently Cornell University
was, owing to the limit put upon the
amount of its holdings, prevented from
taking a large beQuest some years ago.
The trustees of the Bishop Estate,
have, therefore, before them large,
arduous, perpleXing and in some re-
spects a thankless task. Good, but un-
thinking men will unjustly and justly
criticise them. The politicians will
strike at them through the ballot box.
Those who have personal grievances
against them will accuse them OF sell
flshness and mismanagement. In due
time these antagonisms will raise poll
teal issues. The values involved are
too large to make 1t otherwise.
The attitude of the people towards
the Bishop Estate will depend upon the
wise management of the trustees. They
deal, owing to what has been already
said, not only with business affair,
but with the educational interest. the
most important interest in the coun-
try, and this interest will force upon
them unusual and perpleXing duties.
which the ordinary education of men
will hardly aid them in discharging.
There is before them large, economic.
social and political question arising
out of the value of the estate.
The honesty and purely business
ability of the trustees cannot be
doubted. They will administer the
affairs of the Estate we'll But, be-
yond this business administration, the
real difficulties lie.
Looking at the matter from the
higher standpoint, they are entitled to
the sympathy and political support of
all those who appreciate the power for
good or evil which is in their hands.