The river press. [volume] (Fort Benton, Mont.) 1880-current, 1906-05-02
SHALL. WE RESTRICT WEALTH!


In his suggestion that it might ulti.
mately become necessary to put a pro-
gressively increasing tax on the ''in.
h~eritance o transmission in their en-.
tirety OF those fortunes swollen beyond
all healthy limits" President Roose-
welt has thrown a new issue into the
arena of public discussion. He de-
clares at the outset that he has not
thought out the details of any plan to
accomplish his purpose, but be says
he feels that 1--WE shall ultimately have
to consider the adoption Of some such
scheme as that Of a progressive tax
on all fortunes beyond a certain
amount, either given in life or devised
or bequeathed upon death TO any in
d%ividual-a tax so framed as to put it
out of the power of the owner Of n
of those enormous fortunes to hand
on more than q certain amount to any
one individual: the tax, Of course, to
be imposed by the national and not
the state government"
This is a large question, and will
have to be dealt with cautiously, and
after a good deal more study than the
president Or any other Of our states.
men has been able to give to it.
Washington's wealth, which was $780,.
600 or S4OO, 900, was greater than that
of any other president down to this
day, and greater than that of any
other American of his time except that
of Robert Morris, which was placed
as high as $500, 1000, though ~specula-
ton ruined Morris later on, and he
died in poverty. At his death in J acx-
sons days Stephen Girard was by far
the richest man in the country, and
his estate vas estimated at only &c..
00O, OOO. When Aston died In the lat.
ter part of Folks time, and his pro.
perty was put at go, 900. 600. the coun.
try marveled. No individual fortune
Of such dimensions had been dreamed
Of as a possibility OF achievement by
any Americans previous to that time.
But the railways, telegraphs, gold
production in vast amounts, the gen.
eral q%uickening and diversiticatiOn Of
industries and the growth in popula.
ton and in the aggregate volume OF
the worlds activities have melted
gains in wealth beyond anything i'm
agined fifty or sixty years ago. The
principal part of this expansion has
come in the past third of a century,
Most of it has come in this country
AS a consequence the United States
which estim ated its wealth at SIG, 600,
OOO, 900 in the year of Lincoln's frs
election, has $ll2, 600 ,OOO, 900 in Roose
vclt's days, OF as much as that of the
United Kingdom and France combined,
which stand second and third on tn
roll.
> 1t Is estimated that Carnegie
. wealth is about $500, 600, 900, an,
. Rockefeller's is $500, 600, 600, wit
d. that of many other men staudin,
e high in the hundreds of millions
t 1t is not safe to accept all thos
estimates at their face value. Nc
t body, not even Rockefeller himself
knows the extent of l;ockefeller's &C
foundations. AS much of his pror
5 erty is in securities Of one sort an
!. another which are subject to change
in market value. his wealth is neve
i. the same on two days in succession
! 1t is enormous, however, and possi
e bly, it may expand beyond its preser
!. amount in the lifetime of its ownc,
At his death it will be divided anon,
5 several persons, and somebody els
will take the Standard oil magnate'
5 place at the head of the roll.
4 These large individual fortunes Il,
+ extending and diversifying iudustrie:
creating new activities and giving tn
United States the attractiveness whic
it has to immigrants and capital fro,
all parts of the world. Owners of va,
wealth have sometimes committe
lcrimes against tie community, bu, i