The Washington herald., 1909-07-18
LAST MILLION GOES
AT THE AGE OF 80
DR.. PearSons by Parting Gifts
Adds to His Fame.
WILL LIVE ON THE INTEREST
BenefaetOr Makes Small Demand.
WIthbOIds Identity of Institutions
which VIII Benefit by HIS Contri-
butfo0s-HOw Chicago PhiIanthro-
pist Acquired HIS Millions.

Chicago. July 17.-Having already es-
tablished his Fame as a practical phil
althropist by giving away millions OF
hard-earned dollars TO educational insti-
tutions. DR.. D. X. Pearsons announces
his determination TO devote the ninetieth
year of his active life TO distributing the
last remaining million Of his fortune.
Withholding the names OF the colleges
which will profit by his benefcences DIT.
Pearsons says he will soon make his final
gift. giving away every dollar Of his
holdings. making provisions for his de-
clining years by demanding that Of his
contributions per cent Of the sums must
be paid hm annually until he has no fur
ther need for this worlds goods.
in Class by Himself.
DR.. Pearsons Is one OF the most strik-
ing figures in the limited class OF phil
anthropists- Having acquired a cOnsid-
cradle fortune by the practice Of medi-
cine and later by real estate transactions.
always working alone and free Of cor
porations and without the aid OF en-
ployes. his dollars have piled up one at z
time His contributions have been made
provisions that the benefited institutions
show themselves worthy OF aid by first
aiding themselves.
The principle which has guided DR.
Pearsons is best made clear by DR.. Pear
sons himself who IS quoted as saying:
Il am a thrifty and frugal old man. I
. have labored nearly ninety years TO make
money. and have made II, and honest
y. too.
Calls Himself Close fsted.
L have no benevolence in me. not a
particle I am the most economical close
listed man you ever put eyes on. I do
not think ever foolishly spent $40 in my
life. I never went 10 a theater but once
IN my life, and then I was ashamed Of
myself. 1 never went TO horse race. or
70 a football game, or a baseball game
over which our students all over the
country are making such cOnsumnate
fools OF themselves. and by allowing
which the presidents and faculties are
making idiots Of themselves.
Il am doing all that I am doing and
propose TO do on business principles.
After working hard and practicing rigid
economy for eighty years to lay up
money, I said to myself: What am
going 20 do with itT ! cannot carry II
OF with the world In my dead hands.
Cofins were not made to carry money in
have got to leave It; that's the way 20
look at it. Now what shall I do with it?
Some of His BenefactIons.
7 looked around Chicago, and helped
TO build hospital; helped two theologi-
cal seminaries with $4,000 or S4O0. coo;
helped TIE Young Mems Christian Asso-
citation and the city Missionary Society
and other institutions But that did not
satisfy me- I wanted 10 help the poor
boys and girls OF our country. wanted
90 lay up something for them TO live on
while getting an education. had been
deprived Of a college education through
poverty. and I wanted 10 fix it so that
these boys and girls. the sons and daugh-
ters of wage-earners. could have the priv
ilege Of a college close 10 them, so that
they could get a liberal education.
For this purpose I turned my atten-
ton to sixteen different colleges. I did
not start a single one, and I never will.
We have enough OF them. All we need
20 do is TO build up what we have"
story of HIS Life.
The life story OF Or. Pearsons may
show why the economic philanthroplst
has followed the principles he voices.
Like Andrew Carnegie DR.. PearsOns is a
Scotch-American. his forbears having
gone 10 New England early in its history.
In due time a representative Of the
Pearsons family was to be found living
in Bradford. Vt. There. In 1870. a son was
born who has since become famous. In
the common schools Of the town and lat
er in Bradford Academy, he prepared for
Dartmouth College. He entered, and re-
mained but one year, living on the cheap
est OF fare because OF his poverty, and
impairing his health temporarily by his
privatfons.
Determined 20 rise in the world. he
soon found ways and means of studying
medicine IT. Hanover. and in due time
entered the medical school at Wood
stock, Vt, from which he graduated.
Starts Practice of Medicine.
After a year and a half Of practice OF
his profession IN Vermont. DR.. Pearsons
removed TO Chicopee, Mass. where he
remained twelve years, prospered fairly
in his profession. and married an ad-
mirable wife While at Chicopee he
formed the acquaintance OF Mary Lyon.
the founder Of Mount Holyoke Seminary.
and this acquaintance and friendship led
TO an intelligent and abiding interest on
his part. in the education Of youth Later.
DAYS OF IT'S trial by fire and OF its re-
birth, receiving from DR.. Pearsons a gift
OF s1o0. 0.O00-a larger sum than he has
given 10 any other Eastern institution.
Gets Rich in Chicago.
After a brief stay IN GAINESVILLE. Dr.
Pearsons and his wife started for Chi
cago. and arrived there In April. 1860. His
capital was 5000 the savings OF his
Chicopee practice OF medicine He was
a born fnancier. and found it out as
coon as he struck a virgin city and a
growing Commonwealth. Hereafter, trad
ing in real estate and not medicine was
20 be his life work Renting a place In
a law Office at $25 per year. he began to
look about for business. Soon a letter
came from friends in the East authoriz-
ing him 70 sell 1900 acres OF land in
Champaign County. II he could His
swift success in selling this tract in small
sections to settlers by personal solicita-
ton. soon brought him other business
Eastern owners OF land strove to get
him to serve as their agent both in the
sale and the purchase OF land In due
time Solomon Sturgis. a Chicago land
magnate. made him his agent. and be-
tween the years 1860 and 1866 he sold
10000 acres for Mr.. Sturgis.
Then the Illinois Central Railroad
turned over much OF its Illinois farm land
AL, ~