The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1906-10-16
CHANGE LAWS FOR GET
TING BIG FORTUNES BY "a
NOIsITISM.

Mr.. Roosevelt is again pressing the
suggestion he first made in his speech
at the dedication of the Congressional
building last April to impose a AK
on big fortunes. He touched upon it
IN his Harrisburg speech a few days
ago. The PRESIDENTS idea is for SO
progressive tax on all fortunes beyond
Il certain amount, either given in life, or
devised or bequeatehed upon death 90
any individual,'' the object being To
prevent the handing over of large fol-
tunes in their etirety from one per
son to another. The law would not
permit the deVising Of more than d
certain mount to any one person.
The inheritance AK, a. a State sys-
tenn, has been adopted by many States
and has come to be regarded as a
proper source of but ought
not the Federal government to leave
that to the States? The chief idea OF
Mr.. Roosevelt, however, seems not to
get revenue, but to limit the size Of
fortunes which may be held or de-
vised. The taxing power ought not
to be invoked except to raise revenue
1l1u 1loN " chliN ~ po'NFs gnu '#-N
clear that the law ought to put
any limit upon the size of the fortune
which any man, may accumulate?
The thing to do is to let any man
make as much money as he can pro-
vided he does not get it by govern
ment favoritism or by the violation of
law. Most of the great fortunes have
been built up by violation of law, like
the Rockefeller fortune. or by favor
from the government, like the Carne-
gle fortune. Those fortunes that nave
been built no by the use of real es-
tate, and they have been many; by
mining and commerce, and they haVt
been many; by honest speculation and
manufacturing. and they have not
been few-Why should the taxing
power be invoked to reduce such for
tunes? They are dangerous. in a
sense as are all over-groWn fortunes,
but what authority has the govern
| ment to reduce them if they have been
acquired without government bonus or
without violation of law?
The only proper course is to WITH
draw government favor and enforce
the law. You will reduce the over
grown fortunes twenty per cent. II
you will put every article controlled
by a trust on the free list n put the
rich violator of the antitrust law in
the p~enitentiary. They are the two
remedies and the only remedies. 1t
is putting the cart before the horse 10
let the steel trust get rich by reason
of q big bonus in the protective tarlff
and then undertake to punish the IN
dividual magnate by a big tax on his
fortune; to vote a subsidy to ships ana
railroads and then seek to reduce suC1
fortunes by a tax; to give free reign to
trusts to violate laws and thereby rob
the people and offer no check except
bv the imposition of a national inherl-
lance tax.
The way to stop an evil is to go to the
source. Lei every man earn every dol
lar he can, whether it is little or
much. but permit no man to get
bounty through the protective tariff or
| otherwise, or impose a tax on his fell
| lows for his enrichment, or to escape
the penalties of the laws in restraint
of trade.
Prevent dishonest fortunes. Then
| Won protect all the people by giving
| them "a wise and frugal government
| which. While restraining men from III
| turing one another. shall cave them
| otherwise free to regulate their own
| pursuits of and industry,
| and shall not take from the mouth OF
| labor the bread it armed: TINS is lIlt
| sum of government