The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-03-14
FILLED WITH SENTIMENTS IN KEEP
ING WITH HIS LIFE.
Announcement Made of His Retire
ment from Active Business
Tribute to ToiIers.

benefactiOn is, by far, the largest OF the
many created by Mr.. Carnegie, and is prob
ably without a counterpart in the world.
This fund will in no wise interfere with
the continuance of the savings fund. estab-
lished by the company fifteen years ago, for
the benefit Of its employees. In this latter
fund nearly 81, 900, 600 of the employees saw
ings are on deposit, upon which the com
pany. by contract. pays 6 per cent. and
loans money to the workmen to build their
own homes. The first letter follows:
New York, March II.
ITO the Good People of Pittsburg-An OPP
p%ortunity to retire from business came to
me unsought, which L considered ii my duty
to accept. Ny resolve was made in youth
TO retire before old age. From what l have
seen around me / cannot doubt the wisdom
of this course, although the change is great,
even serious, and seldom brings the happi-
ness expected. But this is because so many,
having abundance to retire on, have so lit
tie 10 retire to. The fathers in olden days
taught that a man should have time before
the end Of his career for the making of his
soul L have always felt that old age should
be spent not, as the Scotch say, in making
mickle mair,' but in making a good use OF
what has been acquired, and L hope my
friends IN Pittsburg will approve of my
action in retiring while still in full health
and vigOr, and L can reasonably expect
many years for usefulness in fields which
have other than personal aims.
The pain of change and separation from
business associations and employees is, in
deed, keen; associates who are at once the
best OF partners and the best of friends;
employees who are not only the best of
XXI but the most self-respecting
body of men which the world has 10 show.
OF this L am well assured and very proud.
But the separation, even from "a business
point of view, is not absolute, since my
capital remains in Pittsburg, as before,
and, indeed, l am now interested in more
mills there than ever, and depend upon
P11IGhl1rD &c 1 n r for ny ~
Il shall have more time now to devote to
the Institute and to the Technical School.
which are in the higher domain of Pitts
burg's life, and these L have long seen TO be
my chief work; the field in which l can do
the greatest, because the highest, good for
Pittsburg. The share which L have had in
the material development of our city may
be considered only the foundation on which
the things of the spirit are built, and in
taking the proceeds of the material to de-
velop the things of the spiritual world L
feel that l am pursuing the ideal path of
life and duty.
For all these reasons, and for another
more potent than all, viz, that Pittsburg
entered the core of my heart when | was
a boy and cannot be torn out, L can never
be one hairs breadth less loyal to her or
less anxious to help her In any way than |
have been since l could help anything. My
treasure is still with you; my heart is stl
with you, and how best to serve Pittsburg
is the question which recurs to me almost
every day of my life.
ANDREW CARNEGlE.
CONTRIBUTION OF $1,000, 1000.
The second letter says:
New York, March II.
ITO the President and Managers. the Car
negie Company-Gentlemen: Mr.. Franks,
my cashier, will hand over TO you, on your
acceptance of the trust, $1,000, 900 of the Car
negie Company bonds in trust for the fol-
lowing purposes:
THE income of $1,000, 900 to be spent in
maintaining the libraries built by me in.
Braddock. Homestead and Duquesne. 1
have been giving the interest of $3.50. 600 TO
each of these libraries hitherto. and this
will give a revenue of $50, 900 hereafter for
the three. Braddock library is doing a great
deal OF work for the neighborhood and re-
quires more than Homestead. Homestead,
on the other hand, will probably require
more for a time than Duquesne, but | leave
IT to you to distribute the funds from time
TO time according to the work done or
needed. DuqueSne's portion can be held I'M
til the library is opened and then applied to
meet extras in cos, if any.
THE income of the other s.. 600 is To
be applied: First, to provide for employees
of tho Carnegie company in all its works,
mines, railways, shops, etc, injured In IFS
service and for those dependent upon such
employees as are killed; second, to provide
small pensions of aids to such employees
as, after long and creditable service,
through exceptional circumstances, need
such help in their old age and who make
a good use of it. Should these uses not
require all of the revenue and a surplus
of 100000 be left after ten years opera
ton, then for all over this workmen in
mills other than the Carnegie company in
Allegheny county shall become eligible for
participation in the fund. the mills nearest
the works of the Carnegie Steel Company
Icing first embraced.
This fund is not intended to be used
as a substitute for what the company has
been in the habit of doing in such cases
far from it. IT is intended TO go still fur.
Their and give to the injured. to their fam
lilies or TO employees who are needy in old
age through no fault of their own, some
provision against want as long as needed.
or until young children can become self
supporting.
"Your president and myself have been
comforting for some time as to the POSSIBLE
ity of introducing a pension and beneficial
system to which employees contribute. re-
sembling that so admirably established by
the Pennsylvania and Baltimore Railroads..
We find it a difficult problem to adjust to a
manufacturing concern, but should IL be
solved hereafter the trustees have author
ity 10 make this fund the foundation of
such a system.
president such cases in his department as
he thinks worthy of aid from the fund, and
the president will in turn report TO the di-
rectOrs with his recommendation for action.
A report TO be made at the end of each
year giving an account of the fund and Of
it's distribution shall be published in two
papers in P~ittsburg and copies posted freely
at the several works that every emplOye
may know what is being done. Publicity
in this manner will, l am sure. have a
beneficial effect.
Il make this first use of surplus wealth
on retiring from business as an acknowl-
edgment Of the deep debt which | owe TO
the workmen who have contributed so
greatly TO my success. l hope the cordial
relations which exist between EMPLOYERS
and employed throughout all the Carnegie
Company works may never be disturbed.
both employers and employed remembering
what l said in my last speech TO the men
at Homestead:
Labor. capital and business ability are
the three legs of a three-legged stool:
neither is first, neither Is second. neither
third: there is 10 precedence. all being
equally necessary. He who would sow dis
cord among the three is an enemy OF all
Il know that / have done my duty In re-
firing from business when an opportunity
presented itself. and yet as | write nv
heart is full. / have enjoyed SO much my
connection with workmen. foremen. clerks.
superintendents. partners and all other
classes that il is a great wrench indeed 10
say farewell. Happily there is no real fare
we'll I'm one sense. becG Sc. although no
longer an employer. / am still and ALWAYS
must be a friend deeply interested in the
happiness OF all whom il has been my good
fortune TO know and work In sympathy
with for so many happy years. Always
truly yours. ANDREW CARNEGIE
other Carnegie Gifts.