New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-05-01
THE CONCENTRATION OF WEALTH.
A SCORE WRITERS UPON PHASES OF
THE SUBJECT INDEPENDENT"


that compel resort to it are therefore but blessings
tingush between the old socialism that restricted
him
General Charles H. Grosvenor treats of "Concen-
tratiOn of Wealth Safety to the State" In his
article he says in part:
The widely and generally the wealth of the
country is distributed among the Inhabitants. the
greater the safety to the nation Wealth. money,
number of citizens interested in unfolding the
muGfv OF T PFoPegg tn6 better II is Tor the cG
In danger of wreck and disaster join hands regard
the ship is because their own lives are in peril. So
me greater the number Of citizens interested in
lection its advancement. the greater proportion of
working for the safety of property i ''''','s y
There is kind of concentration OF wealth that
may De injurious u the of the people. The
miser who boards his money and lives the life Of a
Injurious 1t is injurious to wealth and it is in
furious 10 poverty it is injurious To the operator
1ne &GSVi oi9 OF life and business money and
benefit Of all upon the very basis heretofore indi-
c5tfd But the millionaire living upon the proceeds
OF invested capital whether that capital be in
vested IN railroad enterprises. mining operation
manufacturing industries. or in the mere life
fort nlIlIonalfe Is source OF com
with it. '''''' ~ ''' ""' come /" ''No"
-, Let the rich man spsnd his money It distributes
the wealth. and distributes IT i'm the hands Of the
people most needing the benefits.
favor the beneciai results Of the disrfbufion Of
wealth and the necessity FOR such coacenfratio9
Under the subdivision Social Aspects Professor
Harry Thurston Peck writes Of THE Social Ad-
vantases Of the Concentration of Wealth" He says:
Thus much may he said Of the disadvantages
which have been laid at the door Of concentrated
wealth and thus much Of the economic. material
Gus that indication Of them viii be quite sum
Gent tor the understanding of them. Upon the
pleasure more easily attainabI~ a greater decfncv
a
Things are to be noted in every community pre-
creases. II is an outworn inheritance which has
come TO US from Puritanisn, the belief that there
comfort and misery and want. Under the most
lessons in 'e and n" sR f49 whdh life
den nd taaJ ne should increase MS bur
additional moral discipline is prepoSteroUs; and.
indeed, ones moral nature is just as apt to be
warped and distorted by priyation as by plenty.
Lhe9, saqer view IS that every human being has an
amount Of happiness that is possible without dis
SOFTLY and deiipbt f IS M ane Sep as
napier and the more contented man he is the bet
kindly more tolerant and more firmly a supporter
In the second place the fierce zeal Of ACQUISITION
will in another generation have been succeeded by
baron will have been passed. Just as it has long
| been passed by the aristocracies Of Europe; and
ascendancy and to work effectively for the public
In treating of "The Dangers OF an Aristocracy"
/ Ernest Howard Crosby says:
Wall street is the true plutocratic capital. and
the new artstocraCy is naturally taking shape in
/ the city OF New-York Like ali truly vital proc
esses. the growth is but the evolution of previous
organism-namey, the old local society of the En-
pire City. The Knickerbocker aristocracy OF half
yyt!ronment and Wall st!eet has triqmphed over
local thoroughfare it is a national Institution
And so Fifth-ave, has become national institu-
ton. where the multi-millionaires of Oshkosh and
Kalamazoo have begun 10 crowd out the more or
less authentic escutcheons Of Notwithstanding.
rather hnlckerbocker with a golden spoon Is TAX
ing the cream off the millions OF the whole coun-
with wall street hna Rcf.' 9 lev months 1s'
ID DO you see HAT house. he said, It's Just
!., admitted my ignorance,
either til last week He's from Podunk and he $
/ Then he pointed out another house recently
bought by another unknown visitor who was rated
/ Tn hearing OF new men worth twenty and
| know where it will ali end" anu u''4 !
| Western man who buys house on the avenue
I Is pretty likely to have social ambitions. II
! II Ward McAllister could come back 10 earth he
/ would hardly recognize the -four hundred" That
/ excessively light brigade has been undergoing a
Its standard of wealth has been raised al least
tenIoId IN the last twenty-nye years. and erhaps
| is to-day considered fairly we'll off but he can
mother dG to sre ''I hrF au n PF to
| such man would be to condemn her TO perpetual
/ comparative penury when the day of the billion
aire arrives 1t IS generally admitted by the best
| authorities that a couple can marry safely five
| tdttons may remain at that figure. Ambitious men
with fortune of that size ought marry at once
| millions is still rich. Whether very rich begins
1 at the thirty or nifty million point Is a moot
No one with less than a million married or single
! can hope q" maintain footing for long in the
/ charmed circle unless he or she has some especial
society stun remain sufficient 10 remind Of the
father
| father
/ Mrs. Reginald de Koven. writing on The In
! huence of Great Riches upon the Rich Themselves"
says:
All these indications reveal the seriousness Of
the rich men of our country and define the primary
results OF TN accumulation OF wealth upon the
OF wealth upon the children OF the wealthy presents
many unfortunate examples Many a sptndthrifJ
son diSSpdtes his fathers fortune with the result
! mat third generation rarely survives To show
| lHe advantages or money turned TO the gracious
enjoyment % stable fortune with all itS evolution
Of refinement and gentle breeding. Worse than this
largest city develops idoIatry of money in the
society Of that city which is sometimes shocking
IN its trankness and In the ignoring of the higher
ideals of refinement and character the furthering
Of which money alone should be utilized
/ Where there Is simplicity and the calm of good
| breeding IL exists In the homes of the rich
| themselves. Not among those who with UncOn-
Ccdltd motive and disguised Self-cOnSrdtulat ton
enjoy the privileges Of association with the rich
! The standard OF money and money alone becomes
yearly more clearly imperative and exclusively ad-
hered The worst evidence of this is in the
| character of the children. before whose truthful
of the strangcst results of the overwhelming wor-
ship 90 the fatted calf is the reverence of money
for money evidenced more strictly. perhaps among
those who have inherited it than With those who
made it,
| In discussing The Outcome" Professor John r.
| Clark treats Of A Modified IndividuaIism." in
| course of which he says: