The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-05-05
CONCENTRATION
WEALTH"
1.-THE
OF

The Independent magazine in a re-
cent edition devoted more than fifty
two pages of space to a symposium on
the question quoted in the headline
above. The discussion was partici-
pated in by such men as Carroll d.
Wright, Charles r. Flint. Russell Sage,
James j. Hill, Gen. c. II. Grosvenor,
John Dewitt Warner, William ]. Bry-
an and a number of others we'll known
either for their wealth, their connec-
ton with great syndicates or their
broad and comprehensive views of pub
lie questions. The symposium is a
notable one. viewing the matter from
about every conceivable standpoint and
discussing it with frankness.
There could be no greater, no more
important question before the people of
this republic than that of the concen-
tration of wealth into a comparative
~ few hands. That such concentra-
ton is steadily going on cannot be de-
MED. We see it every day in the for
nation of new combinations designed
to control commodities. and in the
rapidly increasing wealth of few in
dividuals. Only a few days ago a
community of interests of transat-
lantic steamship lines was formed, and
the fnancier who brought about the
deal is said to have received $12. 500, 900
for his services-services extending
over a period of less than three
months. He was already many times
millionaire, and to-day occupies the
position of the most important finan-
cier in the world. 1t Is safe to say
that he could WELD the power of bill
lions of dollars at any time, upon
short notice. Is it we'll for the coun-
try for one man to have such enor-
NOUS power in his hands? What is to
be the outcome of these consultations
of capital?
Charles r. Flint, a f1nancier and
trust maker says industrial consolida-
lions are but natural evolutions; that
they are following the same natural
law as that under which water seeks
its level. The line of least resistance
in industrialism is the line of greatest
economy, and no merely human de-
vice, no artificial obstruction can more
than momentarily check advance along
this line" Russell Sage regards wealth
as a decree of Justice" There are
persons, he says, who ought never to
have money, mot only because of the
injury that its possession might work
to them, but on account of the very
much greater harm it might do to the
community" Money comes to those
who know how to use it. he thinks. and
| is withheld by Providence from those
who would abuse it. James ]. Hill of
the Great Northern Railroad writes
that the consolidation of wealth
makes prosperity. and is therefore a
| good thing. The railroads, he asserts
/ have shown how sections may be de-
veloped and made prosperous by COM
| binations of capital. Railroad con-
/ solidations like that of the Northern
! Securities merger. he declares, are for
! the purpose of lowering and not ad-
vancing rates. Representative Gros-
venor of Ohio, a member of the Re-
publican National Committee and a
leader of his party. is a defender of
the millionaire and the great combi-
nation of capital "All that can be
said in favor of the beneficial results
of the distribution of wealth." he
says, hinges primarily upon the con-
centration of wealth and the necessi-
ty for such concentration"
John Dewitt Warner declares: "Po-
litically the result OF the current ten
dency towards concentrated wealth is
idly approaching revolution" This is
in direct opposition to the view OF
l Gen. Grosyenor. who sees in aggregat-