The Kendrick gazette. [volume] (Kendrick, Idaho) 1892-1968, 1906-09-07
THE PLEA OF WEALTH.

Russell Sage Celebrated as Most
Misery of MilIiOnaires.
The writer of this article has often
thought that Russell Sage was enti.
tied to be ''let alone" that inasmuch
as he was not accused of swindling
operations, but only of thrift and par
simony, he should be allowed to pur-
sue his way without comment, says
the Cincinnati Inquirer. He has, how
ever, presented such an interesting
type of the flnancier that he has be-
come an irresistibly interesting sub
ject of comment. He is an inspiration
for philosophy and legitimate text
world. The generality of mankind is
poor, or in very moderate circum-
stances. 1t is arrayed in its hearts
against the rich. 1t never gets rid Of
the idea that there is a grossly un.
equal and unjust distribution Of the
good things of the world. At the same
time there Is common recognition of
the necessity Of the concentration OF
wealth for the purposes of great en-.
terprises, but there is caustic criticism
of the rich men who spend money Law
ishly on their own private establish.
ments and who give enormously costly
entertainments. There is even less
consideration for the close and thrifty
man who has won many millions and
enjoyed only few of the comforts and
none of the luxuries of existence, and
whose pockets have been locked
against benefaction.
Mr.. Sage Is the most celebrated
"close" man in the whole long list of
American millionaires. 1t is interest
ing to read and study his statement Of
his own case. He confesses that he
has lived thriftily, and wants to know
why he Is blamed for not living ex-
travagantly. Here Ia a statement re-
Gently quoted as coming from him:
My money is in circulation just as
truly as if l whirled about in automo-
biles and maintained costly establish
ments. The man who puts money in a
savings bank circulates it for the bene-
fit of the community just as surely as
the man who puts it into racing sta
BILE. a yacht or hunting lodge. If you
doubt me ask the savings bank people
what they. do with the deposits. Per-
sonal expenditure is a matter of task,
but Investment in any form circulates
money, which is the chief duty of the
man who accumulates it. Judge me by
this standard, and, If you know my
life, you will find that all have done
has been to resist extravagance-the
new methods of circulating money by
stimulating unnecessary and often in
furious habits"
The standard which Mr.. Sage sets
up as that by which he desires to be
judged will not be accepted as the true
one. He never put a cent at interest in
was not for the sole purpose of fur
Their enriching himself. The whole life
| of the man stamps that characteristic
on him. Savings banks are good insti-
buttons, but they do not present field
for getting money into circulation that
a man of the wealth Of Sage could do
the most good in. Mr.. Sage is not d
sweet example of the simple life. He
never really earned the wealth he il
grasping like a miser in his extreme
age. He never produced anything. he
has been a money lender and specu
lator in stocks and bonds, the same al
other men who have accumulated for
tunes in the great financial center Of
the new world. His methods have moi
been a whit better than those which
ordinarily prevail in Wall street. He
has won by his knowledge of whea
and how to buy and sell-a knowledge
which those he was dealing with did
not have. He has not been going
about telling the ''lambs" how to take
care of themselves.