Daily press. [volume] (Newport News, Va.) 1896-current, 1909-01-02
HOW FAR FAMILY WEALTH
MAY BE ENCOURAGED
Question is startIing'y and convin-
clns'y Discussed Before Soei.
olo lists Convention.
nv Asanciatpd preSS)
(By Associated Pres


olo lists Convention.
(By Associated Press.)
! ATLANTIC CITY, n. J.. IAN. l.
Before the American Sociclogists So
cietv here an address was delivered
by George II. Holmes of the United
States Department Of Agriculture.
Somewhat startling statements were
made with convincing force by Geo.
II. Holmes OF the United Sta"ts De-
partmem OF Agriculture. In the course
OF an address in which he discussed
the question: How Far Should Fam
ily Wealth be Encouraged and Con
servcd?"
MIR. Holiness address began with
the promise that there is ample field
for efforts to encourage the accumu!a-
ton OF wealth by the FANNY. About
one-half of the families in the United
States. the speaker said. are poor IN
the sense that their wealth is con
fined mostly to personal and house
hold belongings and the implements
of occupation. his statement was for
tilted by reference to the census sta
tist'cs of farm and home tenure and
real estate mortgage indebtedness.
and also TO the classification OF occG-
patton and the comparatively low an
nual earnings received In many OF
them.
Family savings out Of wage and
salary earnings the speaker asserted.
are comparativelv little. AID they are
mostly derived from returns to cap
ital. either as intcrest, or as rent
paid by real estate tenants. or as I'M
earned incre ment to land value, or as
pure profit.
While a large fraction Of the fami-
lies are poor in possessions, large
fraction OF these. he said lave in
come sufficient for IA her high de-
gree of well-being, and. in fact. in
come goes mostly to Sis. ain high
standard OF living. At the same time
there is a large degree OF unDrodrc-
tive consumption Of no benefi: to the
family and often detrimental. Mr..
Holmes went on to say. IN substance:
When we observe the general an
pearance Of well-being throughout the
land, the inference is that wealth is
well distributed; and. on the O her
hand, when We are confronted with
the probable distribution in fact, We
are Mortified at the dreadful condi-
ton of humanity that It Is assumed TO
indicate
1t is a popular fallacy that savings
banhs indicate saving by the poor;
these banks are more properly invest
mont Institutions than savings
banks.
The popular misunderstanding Of III"
annual report of the United States
Bureau OF Labor concerning wages
and cost Of food was explained anu
the statement made that the purchas-
ing power Of wage earnings de-
crease in socalled prosperous times
and increase in periods OF industrial
depression. except in 50 far as want
Of emr'oyment may qualify the la
ter conclusion
Emphasis was placed upon the I'M
fitness OF a large proportion OF the
people. not only &C. prodcce much
wealth, tut to save it. Business fail
ures are referred to most Of which.
the speaker attributed to urfltness.
There are the lazy. the mentally in
capable. the sick, weak and deform-
ed the criminal natures. the degen-
ate. and the s'arvists II requires
mighty good inhe r'talce TO enable a
man 10 subordinate present satisfa"
ton to future good ard crater future
satisfaction: therefore income disap-
pears in present consumption"
The wastefluness Il the people re-
ceiyed attention, and also the COM
mon inability OF persons safely TO in.
vest their savings. or to employ their
savings as productive capital A ma
jority OF men can york for others
better than for themselves. About
two-thirds Of the persons having gain
frl occupatinon work for wages and
salaries. The argument OF Mr..
Holmes leaned away from. States &C
ton and In favor Of voluntary cooper
atom. He presented a comprehensive
| statemen: Of the prevalence OF vari-
ties Of voluntary cooperation. carried
on by farmers to f1Istra'e how e.
fecfive II can be when applied to the
cncourageuen, Of family wealth.
The concluding point made by Mr..
| Holmes was that II the family is rot
, dis posed TO accumulate wealth. with
such encouragement "a will he given
by cooperative association the State
would better keep It's hands on. 1T
10 fundamentally a q'rstion Of respon-
siv'nesS. 7: the unit win not re-
spond to suggestions and ofiers OF
help. let them 20 DC not deny TO
the unit the extinction Of their Kind.
II "a damage to sdcicty 10 enforce
| the preservation OF those who will
not help themselves"
A<oek lsCIoA 90, csejAou