The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1910-04-02
THE ROCKEFELLER FOUNDA-
TION.
Serious Opposition to Its Incorpora.
ton by Government.

At an informal dinner last evening
purely social gathering, all the pro-
fessons, some of the educational au-
thorities and some who are esteemed
great as men of finance, were pres
ent. The understanding was that the
social entertainment should not be
made formal by speech-making
Each one was to chat with his neigh
Dor, exchanging opinions upon events
and personalities now attracting at
tention. But it became apparent in
the course Of the feast that every one
present was much concerned over the
proposition now before Congress that
from Congress an act should be OBJ
tanned chartering the purpose of
John d. Rockefeller and his asso-
ciates to incorporate the bulk of his
fortune, as it is intimated, for the
service of all peoples.
And 1t must be reported that this
opinion is unanimously earnestly and
even very anxiously set against
the incorporation of the Rockefeller
endowment by the national govern
ment, at least on the lines laid down
in the resolution introduced by Sem
ator Gallinger. The reasons are very
distinctly and emphatically given.
Not a person at the banquet of last
night dissented from the statement
that the first of the objections to the
incorporation of this endowment is
that the purpose set forth in it is al
together too vague. The resolution,
If adopted by Congress in it's present
form, will, it was said, place a colos-
sal money power in the hands of a
few persons who are to be utterly ir-'
responsible to any authority but their
own, and who may do with these
hundreds of millions what seems best
to them to do, and that without the
possibility of any judicial interfer-
ence.
The second objection raised and
unanimously supported, was that a
charter of this kind had within it the
power of creating the greatest money
power the world has ever known, and
that, too, with perfect responsibility
to nation, State or people. One of
those present, who is much occupied
with important financial matters, and
whose reputation is spotless, made
the following suggestion. He asked
what there was to prevent the trus-
tees of the Rockefeller foundation
from deciding that they would not,
1or period of years, eXpend any of
the money. If it should be proved
to be the fact that the greater part
of Mr.. Rockefeller's fortune. say
some s40o.O0O,OOO or $500, 600, 900, be
delivered to the foundation then the
trustees might say: 1--WE will wait
until this principal is doubled through
the yearly addition to it of the in
come Therefore, in some fifteen
years the principal might be as much
as $1,000,000,OOO In TWENTY-FIVE
years approximately $2,OOO,OOO,O 900
and few years later as much az 81.
600, 1000, 900.
1T was assumed that there was
small probability that action of this
kind would be taken, but the trustees
would have the power to do it. Then
suppose that a generation hence the
living hands which are then control
ing the foundation should decide, for
instance, that it is necessary that
there be a propaganda of free silver.
What tremendous power they would
have in the possession Of so great an
amount of money. Suppose they
should say that the whole North
American continent should be
brought under one governmental
form; they would be in possession of
a powerful agent to compass that
purpose. They may, with their hun.
dreds of millions, do anything any
where in the world, which is not in
violation of the criminal law.
All admitted that the plan appeals
by reason of it's very magnitude and
the fact that there is no historic pre-
cedent for anything like this, very
strongly to the imagination. But il
was also said that Congress will not
grant any charter to the Rockefeller
foundation until after there has been
prolonged investigation, and certain
ly not until two vital notifications
are made. One of these will contain
the proviso that the government it,
sell IS always to be adequately repre-
sented upon the board of trustees.
The other modification is regarded