Evening bulletin., 1911-03-09
SAYS HOARDED COIN
is A MENACE
.Eetty Green's Son Tells How
Richest Woman's Wealth
Is Handled, \

NEW YORK, Feb. 4.-Colonel hu-
ward H. r. Green, the big, praihy"
brawny son of the richest women IN
the world, who has come to New
York to become the active manager
of his mothers vast 1nterests' mas
conceived a big idea concerning the
handling of those interests. inns
was brought out tonight during an IN
terview the jovial eX-TeXan granted
Colonel" said the reporter, your
mothers wealth is estimated at up
wards of $1O0,000,000. Now, statis-
ticians tell us that wealth Whlch Is
being constantly loaned out ana
turned over and invested in new ell
terprises in such a manner as the
Green fortune increases at maxi
mum rate of 10 per cent year. lhus
your $1O0,000,000 of today becomes
5000, 900 900 or $30O,OOO,OOO tomorrow
Now, aren't you afraid this amount
of wealth will become sort OF tWen-
tenth century Frankenstein centrall-
zation of wealth in one persons
hands, throttling competition ana
threatening the economic lndepend-
ence of the country?"
The answer came unhesitatingly:
"No, believe that my own and my
mothers fortune under our manipula-
tion will become most positive
source of good for the whole coun-
try" he said. ''It is true that 1t will
increase in amount-perhaps in the
proportion you mention, but this
wealth will benefit the whole coun-
try. 1t is a well known axiom in
economics that the creation of new
wealth benefits everybody.
at is like making corn grow in
arid spots ! might compare wealth
that is out working creating new
wealth to the loan deposited by the
Nile, which enriches the whole terri
tory through which the river flows.
81 must endow charities or bestow
millions upon various philanthropics.
But | have learned that inherited
wealth is put to it's best use when it
| creates the greatest possible num-
ber of life jobs rather than when it
satisfies the hunger of day. 1t is
true that this wealth of ours will ben
eft us when we create new wealth
with it, but it will also vastly benefit
thousands upon thousands of other
Americans.
| 81 employ several thousand men
upon my properties in Texas alone
We have also properties in all parts
of the country, mines and mills and
manufactures and stocks and bonds
in almost every railroad. We have a
large sized individual business, and
that employs perhaps 100000 men
This means that 100000 people-the
men and their families-are earning
their living partly through our man
agement.
"Now, suppose this wealth should
be swept away. Don't you see that
not only two dividuals-myself and
my mother-would be ruined, but also
thousands of others?"
HOarded Money Peril.
81 have learned that it is only when
money is stored and boarded away
in vaults that it becomes dangerous
Then it is liable to upset our tinan-
cial system and overturn our cur
rency.
81 believe, and my mother agrees
with me, that to give man a job fol
| life is better than to supply him with
a turkey dinner for a day or a. week
or month"
The colonel is never so enthusiastic
as when talking about Texas.
"There is no doubt about it; Texas
is the state for opportunity" he said
"a young man without money OF
4 friends can't do much more thar
make bare living in New York Now
out in Texas, if he has any money al
all he can make good with a ven.
geance. That's the place for young
man"
Colonel Green is also an enthusiast
on the future of San Francisco.
mo city in the United States has
present evidence of a greater future
than San Francisco" he said. "Be.