The Montgomery advertiser., 1906-12-14
INHERITANCE TAX
HAS AN ADVOCATE IN ANDREW
 CARNEGIE.
FaeIicyeM That tke Multi Million aiFe's Fortune should to Great GeEree Revert Back to tbe
 Pconl@.


 New York. Dec. IS.-~August Be'- mont's position as president of the Ma tionaI Civic Federation on the dues- tionf of '.the Income and inheritance tax" was explained by him at consid- erable length at today's session or the federatson's annual meeting.
 In his opening address, yesterday MT. Belmont touched on the same subje II and he declared today that his remarks had been misinterpreted by the news papers. What I said yesterday. said Mfr Belmont. was that wise and just method of taxation and the discussion of that in 2 proper manner--would ne of great good to this country; but that otherwise it was quite another matter.
 T do not believe that men as gen eral proposition can accumulate large fortunes dishonesty and improperly. There may be isolated cases of it. The existing laws with regard to wrong doing are complete and searchin- enough. These fortunes mostly come through large corporations.
 The stockholders have rights and that these fortunes are accumulated ln an improper manner all over this country and. therefore. must be reduc ed in punitive spirit, was what | meant yesterday to deny. Not that tax on inheritance should not be pass ed, but that It should be done from the point of view of just and wise taxa tion and on some economic grounds That was all I meant to convey"
 President Belmont then introduced the next speaker. M. E. Ingalls, chair man of the Cleveland, Cincinnati. Chi .' cago and St. Louis Railroad.
 William D. Guthrie, a lawyer of this city, who led the fight in the local courts against an income tax on con- stitutional grounds, was the next speaker.
 He held that there must. under Amer icah institutions, be equality of taxa ton. declaring that taxation goes hand In hand with representation
 Andrew Carnegie, who followed Mir. Guthrie, said that he was in hearty accord with what had been said today by the previous speaker. He thought It would be a great mistake for a man who wants to borrow S1,000 from his bank in time of personal financial stress to be compelled to explain all his private business to another man, who is perhaps, also a bank director.
 think an income tax would pene- trate business to the core" said Mp. Carnegie. T think this country would never regret anything so much as ts impose such a tax. l differ with tas President strongly on the subpect CT the income tax. Hut am in a peculisr
  eating that as something like gettinE a better distribution of wealth. The subject of wealth distribution will not down.
 Mir Carnegie said he believed inas- much as the wealth properly belonged to the community, the latter, on the death of the possessor. should acquire a great portion of the wealth, having had a large part to do with the desei- opment.
 our country falls in It's duty" said Mir. Carnegie, If 1t does not exact . share tremendous share of the estaEs of the enormously wealthy man on hls death. The money belongs to the com- munity. But do not mistake me.
 "I do not advocate the making of a man pauper or the paupertxihg of hiP children. But 1t is not the millionaire who made the wealth. He did not make the ore, or the coal, or the gold that he dug out of the ground. The Montana copper mine owner did not make his wealth. It belongs in the ab- stract, to the people who use it and who produce the use which makes 1t | valuable.
 T am with the President then, to tax heavily by graduated taxation, ey- cry man who dies leaving behind him ] his millions. for I think that exces- l sive wealth left to child Is an injury ! to the child"
 As shown by the census bulletin, the amount of inheritance tax collected In | 1902 by the States which had laws tax ing inheritances was as follows: California, $29O,447; Colorado, $269; Connecticut, $3S4,735; Delaware. $90Si Illinois, $5O3.S16; Iowa. Sl15332; Maine | S3s,s7T; Maryland, SS3,7S0 Massachu- setts. s433,7l9; Michigan. s164.6SS; Min nesota, SCOTT; Missouri, $2s,554: Mon tana, S36,331; Nebraska. $S2; New ter. | sey, si4s,577; New York, $5,S04,555i North Carolina. s4.241; Ohio. $1S.055 1 ina =; tennessee, $36. 4s9; Vermont S2s,a4O; Virginia, S16,2s6; Washing ton, Si,524; West Virginia. S6,340: Con ! tinentaI '. S., &1Os5.s1S; Hawaii. $l, l 393. Total. S7.Oa7,30