Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-09-28
ADDRESS BY T. F. WALSH
AT THE BANQUET OF THE PIXIES
PEAK CELEBRATION.

The following is the address, in part, of
Thomas F. Walsh of this city, delivered at
the banquet of the Pixies Peak centennial
celebration in Colorado Springs, Col, on
Thursday evening last:
I'VE live in the most prosperous age that
any country or any people in human his
tory every experienced. In the midst OF
this prosperity we are confronted with
strange and menacing conditions. These
new conditions are creating results which
are threatening the Individual happiness
and prosperity of the masses
I'VE find men with such accumulated
wealth that they are puzzled to know to
what use to put it. We find men so rich
that they are unable to give anything like
an approximate estimate of their wealth.
Accumulated and concentrated wealth, both
corporate and Individual is crushing from
the masses the life of individual ownership,
individual independence, and almost, indi-
Vfdual existence.
conditions means all the commercial wealth
of our country concentered into few
hands, and the masses of the people left
without an atom of ownership in our coun-
try.
IF we are to survive as a nation, the
welfare of the masses must ever and always
be our first aim. We must remember that
no wealth can be accumulated without the
assistance of the people
Every invention, every industry, every
commercial enterprise, owes its success to
the co-eNistence and cooperation of the
people. Yet it is often that inventions worth
millions of dollars to one or two persons
put out of employment hundreds of men,
upon whose efforts their families depend
for the means with which to exist. | speak
not against inventions; l speak not against
improvements in all things. l only plead
that the masses may get their proportionate
share of the created wealth.
We should establish new basis for COM
pensating the masses. We should say to
the honest wealth already acquired, I'VE
will respect every dollar of what you now
have: we will close the account of the past;
but we will open a partnership account for
the future. an account in which we will ex-
pect You TO share more literally with your
partners, the people
True and Lasting Prosperity.
l dread the time, which l hope will never
come when business stagnation will reign;
for we may find millions of people thrown
out of employment. The true and lasting
prosperity will be not few enormously
rich men, but a vast army of well-to-do
men, men having an anchorage in the in
duStrieS of the country, having something
laid by for rainy day and for old age.
Without any violent commissions or dis
turbanCeS in the institutions of our country
these conditions can eventually be brought
about, provided each do our share to-
warn Jnelf accomplishment we must feCOg-
niZe the nobility of the masses who toll.
We must remember that when they are
striving for better wages and shorter hours
and better conditions they are fighting, per-
haps. the battles of our children and our
grandchildren.
One of the things I would suggest to keep
the ownership of our country from the
hands of the few is gradua ted tax upon
accommodating fortunes. Make the begin
ming. if you will. at a very comfortable
sum; then the greater the accumulation.
the greater to be the share to be given to
the public fund.
To my mind. the income tax is the fairest
that can be imposed. 1t reaches only the
rich. and they surely can afford to pay it.
1t is humliating injustice to have the
owner of a humble little cottage, raising
five or six or eight children taxed for the
family. Why not exempt him from all
taxes of every kind and description? Surely
means be found in broad, liberal
government to make these just exemptions
and impose these just penalties. / may be
answered that these things not cOnsti-
tutional. are not legal. My retort is, make
them legal Humanity requires and de-
mands it,
Another thing, the masses of the people
have never received any direct benefit from
the great credit Of the country. The mon
eyed interests and banking institutions
have always received that benefit. Can
you imagine any more beneficial work than
for the government to open department
of Insurance that will give insurance to
the toiling masses at actual cost? Make a
small maximum amount of Insurance, just
to protect the masses, letting the rich go
O pTiVaIe insurance cOmDanieS. Think of