The Bon Homme County independent. [volume] (Tabor, S.D.) 1904-1913, 1910-02-10
you CANNOT TAKE
MONEY WITH YOU,
so SPEND II now
Advice Of DR.. Pearsons, Who
Has Already Given Away
$4,000, 900.

DIR. Daniel K. P%earsons is a Chicago
millionaire who has given away In the
last 20 years over 81 00, 000-practical-
ly his entire fortune. Malcolm Nc
Dowell, writing bou DR.. Pearsons In
the December American Magazine. says
OF him:
"'Cofins were never made to carry
money in said Daniel X. P%earsons just
20 years ago. Then he started in and
gave away about $4,000, 900 to boards OF
trustees and presidents and regents OF
colleges, academies and schools.
This great sum of money has gone
to nearly half a hundred institutions
of learning. well distributed over this
country. In most cases DR.. Pearsons
has nae the habit Of saying, Mr.. Col
lege President, I'll give your little
school $50, 900 IL you will raise another
$50, 00O.' He tied this If string to his
first contribution n Beloit college
made good. Since, and that was back
in 1890 or thereabouts, he has worked
that proposition so effectively that, 1t
is estimated, his $4,000. 900 have drawn
at least 3 1000, 900 to them. so that the
Pearsons gifts have actually brought
81, 1000, 900 to small colleges and semin-
aries where the money was most need
ed.
"And a woman was at the bottom of
all this. When Mary Lyon. who founded
the first college for women In this,
country, was making coverlets and do
ing odd chores to get money to put her
through Ashfeld academy, she used to
run cross a doctor who felt the pulses
and prospected the tongues Of the
farmers who bought her bedclothes.
The medical man was DR.. d. X. Pear
sons. A few years ago, speaking of his
gifts to colleges. he said:
When ! saw Mary Lyon begging
money, bricks, lime and timbe to build
her school, I said to myself, IF ever /
get ahead in this world. the first thing
/ will do will be something like what
! Mary Lyon is doing" and I was poorer
than Jobs turkey then But the doctor
was scarcely in the pauper class. for
soon after he went to ~Chicago-that
was about 1S5S-with $4,000 in real
money in his xripsack. He gave up
writing prescriptions and began the
| more lucrative work OF writing war
ranty deeds for farm lands-prairie
acres owned by New England friends
which he sold on a 5 per cent commits
sion.
HE was one of the original adver-
tisers. for he bought newspaper space
freely, and to such good purpose that
he soon became known as q most sue
cessful real estate dealer. In 10 years
he had bought n sold more thar a
million acres of farm and timber land
and was getting rich. He was elected
an alderman from Chicago's First ward.
| that ward now represented In the city
council by Bath House John Coughlin
and .Hinky Dink' Kenna, and as head
of the finance committee saved Chi
Cages credit during the dread times of
the early 1S70s by pledging his per-
| city script.
when he was 20 years old-he will
be 80 next April-he and his wife laid
out a systematic scheme to help small
colleges. He early planned to be the
executor of his own will. and 1t was
arranged that the last $1,600,000 he
gave away should carry with 1t a 2 per
cent annuity so that so long as he and
his wife lived they should be sure Of
an income Of 100000 a yea AS their
ordinary living expenses seldom
reached $4,000 annually he felt certain
of always having some surplus to give
away to the needy. His friends say he
intended to loan this out to poor stu
dents at a nominal interest rate. He
has had $3.50, 900 loaned out to students
at 3 per cent at n time.
"Dr. Pearsons never endows a college
/ unless 1t has a religious denomination
back of It. He said once. I have usu-
ally hitched my car to a Congregational
train. They were the first people to
begin building colleges in this country.
But then any struggling Christian col
lege in a suitable field appeals to me-
He himself Is not a member OF IN re-
ligious sect, although his brother and
] the latter's family are strong Evanston
| Methodists.
81 don't pose as a benevolent man.
he once said. L haven't a particle OF
| b~enevolence in me. / am the most eco
nomical, hard listed man you ever saw.
/ don't think I ever spent $40 foolishly
In my life. ! can't take my money with
me when I go, so what will I do with
it? 1 think the best plan is to spend
1t wisely before l die
.Dr. Pearsons lives in Hinsdale, a
suburb of Chicago, and was born In
Bradford, VT, April II, 1920. He was
educated in Bradford academy n
Woodstock Medical college, Vermont.
For IL years he was a practising physi-
| clan, and for more than 80 years was
one of C~hicago's active business men,"