The National tribune. [volume] (Washington, D.C.) 1877-1917, 1903-04-02
REDISTRIBUTION OF FORTUNES.

| EDITOR NATIONAL TRIBUNE: In your
issue of Jan. 10, and in your editorial,
Limiting Private Fortunes" you say:
| Seriously, there is Il much surer way of
! dissipating these enormous fortunes. The
heirs will take care of that etc.
Now, taking you at your word, sup
posing you to be really serious in
your statement. allow me to call your
attention to some facts. which even
you may have for the moment overlooked.
First, that the immense fortunes that are
presumed to be a menace to our republic
can institutions are nearly all within the
trust or combine band wagons not all
in any one trust or combine, but scattered
through many. being held in the same as
stock" and so interviewer is capital in
these various trusts, which control in large
measure the entire business of our country,
that it cannot be eliminated therefrOm ex-
cert at = great loss both to capital itself
and also to the general welfare of the
country.
If the grandson becomes n spendthrift
and dispOses of his interest in any one
given trust or combine, it is purchased as
stock, and as such remains in its original
:iack," and if the stock is forced upon
the market, in order to make n sure sale,
someone already i'll the concern is most
likely to be the purchaser. So, if the
grandson wastes his portion in ri0tous liv-
ing. capital nevertheless refuses to segre-
gate. On the other hand it more and
more concentrates, and the presumed .'ele-.
plant" puts on enhanced bulk and CORE
spending airs. hence the adage, Corpora
tons never die" Therefore capital. in
stead of scattering according to your
'Prodigal Son" theory, becomes more CEN
tralized. with all its presumed evils. Sc
riously, then. if so desired. is there pre-
ventive or cure!-IRA WAKEFIELD, Phoe-
nix, Oregon.
Of course, the great corporations have
come to stay. At least, it seems so. They
seem demanded by economic conditions,
and if they are, will remain until those
conditions change. The main danger to
them is that the SUCCESSORS of the men
who are now their managers will not be
their equals, will lose their grasp, mis-
manage, and allow the corporations to dis
integrate. In that case the fragments
will be gathered up by other better man
aged corporations. 1t is altogether likely
that some scheme of profit-sharing will
develop which will put the management,
or large portion Of it, in the hands of
the people actually employed by these cor
porations. How this will develop we can
only surmise at present. The interests of
the men who at present control these cor
poratiOns are sure, in the near future. to
be redistributed among the people; that is
the sons and grandsons of the present ex-
ceedingly able men who have built up these
combines are not at all likely to be equal
to their fathers or grandfathers in execu-
tive ability, or more likely will not have
the same thirst for wealth and power
They will prefer lives Of so-called pleas
ure, and allow their fortunes to slip away
from them, to be gathered up by men ris-
ing from the working classes, as their an
cestors did. This has been the case to
certain extent in all countries and in all
ages, but will proceed much more rapidly
in America, where there are no class dis
tinctions and prerogatives to hold the
wealth in the hands Of the privileged few.