The labor world. [volume] (Duluth, Minn.) 1896-current, 1907-03-30
how MUCH DID J. D.
GIVE FOR EDUCATION?
Writer Analyses the Proposition,
and Attempts to Measure
Gift.
Puts Great Mortgage Of $32,Q00,-
900 on Unborn Generation.
Biz Interest.

ton, lot US analyze and figure little,
ana SEQ II we can find out just what
he actually gave and who Is 70 pay the
bills.
Sly CID J. D. cid not plank down
e32,OO0,0oO in plunkets. Oh, no! That
Is not the way he does business. lie
gave stocks, or the interest or divi-
dends on the stocks.
We hear much Of watercd stock. but
we never see any of 1t quoted for sale.
The kinds that are for sale are common
and preferred stock. mostly preferred.
To make this so plain that that
school boy can figure on it, and ask old
dad g. few questions we will suppose,
and ILLUSTRATED
Suppose Montgomery Ward, Of Chi
cago, is an Individual, and his business
oil told, is worth 100000. Corpora
tions have no souls. They never die,
and they have no ears that you can
cuff So he organizes himself into the
Montgomery Ward Stock company,
and Incorporates for $1,000,000, $780,
900 common and 100000 OF preferred
stock.
This preferred stock, before it sold
a company.
So you see Ward, as a stock COM
pany, is worth ten times as much as
he was as an individual. Now to
make a sale for this stock, our state
kindly steps in and allows the COM
pany to pay the tax on all of this
stock at the rate Of one-tent hof one
per cent annually on the mill on
dollar: while if this stock was owned
by an individual, and assessed as PRIV
ate property, it would, in this neck OF
the woods, pay as high a tax as the
stock has to pay, as the law now is.
School boys, take this proposition to
your dads. Say to dad something like
this; "Old Chump, why do you pay
three percent tax on your home, on
which you draw no dividend, while
J. D. Rockefeller pays one-tenth OF one
per cent on Standard OIL stock. on
which he draws one hundred per cent
dividend? You pay thirty times as
much tax on your property as old J.
D. does on his" If dad thinks thar you
are disrespectfur tell him that an old
chump that will, year after year, vote
for such conditions, does not merit
anybody's respect.
Now you STE 1t and now you don't
see it. Buy common stock and you
can vote on your stock: you are
member Of the firm. You draw divi-
dend If the company makes money and
you stand your loss in case Of loss.
But preferred stock In a corporation,
and, Of course. you are stockholder.
Can you vote on your stock? No, no;
you are not member Of the firm; you
are only a preferred stockholder and
have no vote or voice in the way
things are run.
Preferred stock draws a rate per
cent dividend; not interest. like
bond; but sure-t thing dividend
whether the company makes or loses
money. In plain English, this pre-
ferred stock is only the company's
promisory note, exempt from taxation,
good If the company is good, and
worthless II the company fails. So, In
truth, J. D. Rockefellers gift was on
ly little paper that cost him moth
ing but the printing. One dollar would
pay the whole expense.
But his ability to control natures
opportunities allows him to put a.
mortgage Of $32,00O,OO0 on an unborn
generation and compel them to pay the
interest to the colleges!
There is no better authority on such
matters in the United States than
Henry l.. Call, and he claims that the
whole amount of stocks and bonds,
what he denominatcs as the public
debt, or the great blanket mortgage
that the idle captain OF industry have
saddled onto the plain, common peo-
pie Of the United States amount to
over 100000. 900. 900!
Just think OF it, the interest on this
vast amount at per cent (and the d.
vidend will average a great deal more
tha nthat would build every family
to work and earn a home worth ST.
900 in seven years and one month!
School boys, it is up to you! you
must settle this question and right this
wrong.
But tonight ask old dad why he has
voted for system that compelled him
to work and earn home worth
$4,000 In the last fourteen years and
then give it to the idle plutes!
Boys, perhaps you have heard that
the wife of i. s. Senator Aldrich. Of
Rhode Island, is the daughter of J. D,
Rockefeller. Now, just watch once
more and see how oily old Jack steals
from the people.
President Roosevelt signed q bill
and made 1t law, that ]. D. Rocke-
feller's son-in-law, Aldrich, introduced
in congress. The law in brief conopels
the secretary of the treasury to de-
posit In certain national banks all of
the money that the government COL
lects by the tariff tax, which amounts
to over $4oo,oo0,ooo annually. 1t also
elbows the national banks to increase
their circulation about 40 per cent.
The law also grants other favors to the
banks.
The new law will, including the
nearly $300,000,O0O internal revenue tax
collected annually, gives the Standard
Oil crowd the free use, without a cent
Of interest to pay, of over $1,000, ,00o,-
900 Of the peoples money.
With this great power the captains
Of industry, the blood thirsty old pir-