The Washington herald., 1906-10-23
MILLIONS TAKE WINGS
Beverages OfWealth
Speech Stirs Col. Bright.
WHY NOT MOVE TO ENGLAND 4!
Indiana Democrat. Answering Sem
ator's "Gourd Seed Theory Of
Finance" Relates an Anecdote OF
Observation-Disclosures Might Fol-
low AstOr when Limit Is Reached.

Senator Beverage & recent speech, IN
which he advocated an inheritance tax,
pronouncing immense private fortunes a
menace to the republic, has aroused his
compatriot, Col Richard J. Bright one
Of Indiana's stauch Democrats. former
Sergeant-at-arms of the United States
Senate. whose tail. erect frame is famil-
lar to most Washingtonians. Col. Bright
said yesterday: Senator Beverage is
represented 20 have said
The other DAY Marshall Field died Il was found
that his fortune exceeded the enormous sum n
500 0000J0 This vast wealth he left IN trust for
fifty ycars his sole heir being one individual not
yet in his teens At the end Of ffty years. when
the trust expires. that fortune viii amount TO no
less than Sl00j 900 g00
It Is believed the wealth Of John d. Rockefeller
now amounts TO 500 900 00a It viii descend 20 a
every way in this any other country. All this is
wrong. II is dangerous To the republic ! am not
the enemy az wealth. ] believe IN fostering and
encouraging the industrial enterprise which makes
men accumulate money. but when fortune reaches
point where it is longer che result Of indiyid-
ual effort and thought and thrift, but acclImulates
OF its own force, it ceases 20 become blessing and
bccomes a curse.
President Roosevelt in the most notable utter
ancc Of his career. said the other day that next
great duty vas % limit and control vast aC0mula-
tio1s Of wealth in the hands Of men and corpora
tioHs Re never was more profoundly right I'm tie
end there has got % De- a control 81 the methods
employed by the enormously TiCH 10 business and
commerce.
What Vanderbilt said to scott.
William L. Scott. Of Erie. who ac-
cumulated about Sl5,Co0oC0. and also
served several terms in Congress, was a
protege Of Commodore Cornelius Van
derhilt dhe founder Of the fortunes Of
that great family. and managed many
Of the commod0re's important and con
fdentiaI transactions. He related one
memorable conversation with the old
flnaucicr Il occurred, he said, soon ar
ter a rather severe shakc-up in Wall
street The commodore inquired OF him
about several Of The new multi-milliou-
aires of that period. Scott replied they
had all been wiped out. The old man.
after rejecting a snort time said. Billie.
them chaps amt 100000 feIicrs. any
fool can make money, hut it takes a
mighty smart man 10 manage and keeI
q million dollars or more.
THE commodore considered wealth
rather elusive, subject 10 loss through
accident. or miscalculation. or predatory
attacks from crooks and Cr8nks or
tTeachery of trusted agents His mill
lions are now divided among many fam
lies OF the third and fourth generations.
but the greater part still invested I'm
railroads that give honorable ana profit
able employment 10 many. many thou
ands but iu his day and generation the
supervision kept the commodore very
busy 20 ripe old age.
Senator Beverage seems 10 think ii
million dollars can be planted ike z
sourd seed aud then STOW and multiply
without care or any supervision. what
ever. and If any one is fortunate enough
/ to run the gamut of accident. ana of
crooks and cranks, and still continues ia
grow richer and richer then the govern
mgnt must step in and take al over and
above some amount rs yet not defined
and fixed.
Stewards millions scattered.
A. T. Stewart. i'm a long and success
/ ful career as "a merchant. accumulated
about S75.lona 900. Including the best equip
( ped and best organized ana most colossal
mercantile establishment of his own o.
any preceding age. lie was never known
I 10 engage iu any great public enterprise
/ or any charity. except. perhaps, thc send
/ ing OF a shiuiOad oC corn meal 20 ireland
/ to relieve the then prevailing famine iu
/ the island. and It is said that many of the
/ poor Irish died with sacks of that meal
/ iu their cabins. because they did not
! know how to- use 1T. IL proved, howcver
/ to be- great advertisement all over the
/ world for the Stewart establishment
/ Where now are the millions Of Stewart
! They certainly were very promising
/ seed. and though very many in the hill
/ they did not produce one single gourd
/ and to-day are scattered 10 the four coz
/ uers of the earth.
1T may be possible for this strenuous
/ age TO develop a strong centralized gov
{ ernUgnt that viii assume, first, to con-
! troll great wealth, and then confscate, for
/ the good of the dear people. all of any
/ mans possessions over. say Sj0010 600
/ But what is To- prevent the fortunate
ones from following the example of VIII
/ liam Aston. by transferring their ale
/ glance to England before reaching tho
/ fatal limit?
True. if some future strenuous epocf
| should bless our country with another
| Roosevelt and the government in the
meantime shall have become sufficiently
/ centralized, and the Immensely rich num-
/ erous enough, they might save them
/ selves from the necessity of deportation
/ by establishing an empire Of their own
/ here 40 home Which is right the old
/ Commodore. with his strenuously careful
nursing Of his millions, or the new Sen
ator, with his gourd seed theory OF