The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1908-12-31

Declares Mr. Holmes Of the
United States Departs
Tnent 81 Agriculture


soness hat stastllnG ptenents Wel
/ made with convincing force is.
4 George 81. HOLMES OF rle United
States Beparment sof AgrIcaltlre. a
the meeting Of the AInerfean Socs
biological Society today IN me q1urs.
OF an address In which he discussed
the question: How Far Should
| Family Wealth Sc E1conraged and
Conzerved9 r.
Mr.. Hoimes's address began with
the premise that there Is ample field
for efforts TO encourage the aecumu-
lation OF wealth by the family.
About onezhalf o tfhe Families Of
the United States. the speaker said.
are poor in the sense that their
wealth is combined mostly to personal
} and household belongings and the
I implements OF ocnpatIon. This state
ment was fortified by rNeFence to.
she census statistics Of farm and.
4 home tenure and real estate mort
!, gage Indebtedness, ana also TO the
classification OF Occupations and the
comparatively low annual earnings
II received In many OF them.
Family savings cut OF wage and
salary earnings, the speaker assert
ed. are comparatively little. and they
are mostly derived from returns to
capital, either as interest, or as rent
paid by real estate tenants, or as I'M.
earned increment to land value, or.
as pure profit.
+ While large fraction OF the FAM
HES are poor In possessions, large
1 fraction of these. he said. have In
come sufncfent for a rather high de-
Z gree OF well-being. and, In fact.
! income goes mostly to snstaIn !. high
standard of living. At the same time
/ there is a large degree of unproduct-
i've consumption of no benefit to the
! family and often detrimental. M
! Holmes went onto say in substance;
When we observe the general ap-
1 pearance OF wellbeing throughout
/ the land. the inference Is that wealth
I Is we'll distributed; and, on the other
! hand, when we are. confronted with
4 the sprobable3 distribution in fact, We
iare horrtded at the dreadful condt-
tion of humanity that It is assumed
TO indicate.
ut is popular rallacy that saw
| ings banks Indicate saving By the
poor; these banks are more properly
investment institutions than savings
banks,
The popular misun derstanding of
annual reports Of the United States
Bureau of Labor concerning wages
and cost OF food was explained and
the statement made that the pur-1
chasing power OF wage earnings de-
creased in so-calleds prosperous times
and increased In periods of industrial
depression. except SO far as In want
of employment may qualify the latter
conclusion.
Emphasis was placed upon the
unftness of large proportion of the
people, not only to produce much
wealth. but to save it. Business fail
ures are, referred to. most OF which
the speaker attributed to unfttness.
There are the lazy. the mentally
incapable, the sick, weak and de-
formed. he criminal natures. the
degenerate, and the stavists. 1t re-
quires mighty good inheritance tn
enable a man 10 subordinate present
satisfaction to future good and
greater future satisfaction; there
fore income disappears IN present
consum ption-"
The wastcfulness of the people
received attention, and also the COM
mon inability of persons safely to in
vest their savings, or to employ their
savings as productive capital All
majority OF mon can work for others
better than for themselves About
two-thirds or the persons having
salnful occupations work for wages
and salaries. The argument Of NJ.
Holmes leaned away from Sta.elI
action and In favor OF inyoiuntnrv
cooperation. lie presented com-
prehensive statement OF the prvea-
lence OF varieties of voluntary COS
operation. carried on by farmers TO
Illustrate how effective Il can he'll
when applied. to the encouragement
OF family wealth.
The concluding point made By AIR
Holmes was that II the family is rot
disposed to accumulate wealth. with
such encouragement as will he given
by cooperative association, the stats
would better Keep IFS hands OF. II
1t Is fuudamentally question Of re-
sponslyeness. n the undt Will not
respond to suggestions and Offers of