The sun. [volume] (New York [N.Y.]) 1833-1916, 1912-11-22
TAFT FIRST ELIGIBLE
CORPORATION Will Administer
Fund Until Nation
Itself Acts.
WILSON BENEFITS ATLAST:
Professors Pension Was Denied
Him, but He Will Be In
cludpd Now.

An annual pension Of $4,000 for
Zach future ex-Pres.dent of tho United
States Is offered hy Andrew Carnegie.
This announcement was made by the
trustees Of the Carnegie Corporation OF
New York at the close of their second
annual meeting in Mr.. Carnegie's resi-
dence. Firth avenue and Ninety-first
stree, yesterday afternoon. The state
msnt says.
Provision has been made through
this corporation fer IA pension for each
future eX-Pr.sident and his widow un-
married Of $4,000 per year as long as
th'sn remain unprovlded for hy tho
nation, that they NAY hc ahie 20 spend
tn latter part of their lives devoting
their unique knowledge gained OF pub
nc affairs to the public good, free from
pecun!sry cares.
These pensions will he promptly Of
te-e1 ~ tho ev-presi1e nts or their
widows ,n that no application will be
required from them"
All eisht ot The trustees Of the Car
nea!e Corpo-ation. founded two years
ago to- take over NJ. 'arnegie's work IN
connection with edIca .unal and other
organized pn!!ant thropics. we're present
al the meeting yesterday afternoon.
Besides Mir. Carnegie himself and the
two other lie IN. mhers, Robert Franks.
treasurer, and James Bertram. selre-
,ary. are Included the heads O.: the fiye
institutions which the .ronmaster has
founded. Emu Root. president, Of the
"a IE.,lr for TpYa .itna nj
Peace; Henry :. Prtche:t. president of
the Carnegie Foundation for the Ad
vancement ct Teaching; X. S. Wood
ward. president OF the Carnegie Inst!-
tu,!on cf Washington: Charles l., Tay
Tor. president of the Carnegie Hero
Fund Commission. Pittshurg, and Will
lam y. Frew president Of The Carnegie
Institute at pittsburg.
Mr.. Carneg.e declined through his sec
retary last night To have anything
further TO say at present about the fund
for ex-Presdents one of the trustees
explained that II was Mr.. Carnegie's in
tention that President Taft upon his
retirement next March. should be the
first to profit by its provisions. Other
wiee Mrs. Mary Scott Harrison. widow
OF former President Harrison, and ex-
President Theodore Roosevelt would
have become the only other benefciaries
under the terms OF the endowment. for
Mrs. Cleveland. by her approaching
marriage to Prof Thomas Jex Preston
Of Wells College. would have put herself
beyond its scope.
II is believed that the trustees antici-
pate the time when the national Gov
ernment will make some provision for
those who have once served as Chief
t,
intended to bridge over the interval
II was decided also at yesterdays
meeting that a statement OF the aims of
tie Carnegie Corporation should be
published. According to this statement
the following paragraph from Gospel
II Wealth" printed in the North A mer-
tcan Re,Tetc in 1889. gives Mr.. Carne-
ec's chart of l!fe's voyage as then re-
Veaied by him:
Men may die without incurring the
pity Of their fellows, still sharers in
great business enterprises from which
their capital cannot be or has not been
withdrawn, and which is left chiefly at
death for public uses, yet the day Is not
far distant when the man who dies
enving behind him millions OF avail
abe wealth, which was free for him to
administer during life, will pass away
'unwept. unhonored and unsung. no
matter 10 what use he leaves the dross
which he cannot take with him. or such
as these the public verdict will then be
The man who dies thus rich dies dis
grHOei
This. then, Ia held to he the duty OF
ne man OF wealth: First. to set an
example OF modest, unostentat!ous
wing stunning display or extrava-
!arc" to provide moderately for the
legitimate wants OF those dependent
Vnon him, and after doing so to con-
5der all surplus revenues which come
10 him simply as trust funds which he
e called upon to administer In the man
ner IN which. in his judgment, Is best
calculated 10 produce the most bene-
0"'al results for the communicative
nan ~ wealth thus becoming the mere
'rpstee and agent for his poorer
brethren, bringing to their service his
wisdom, experience and ability to ad-
minister, doing for them better than
'hev would or could do for themselves
Suca in my opinion. is tho true gospel
'"nrerning wealth. obedience to which
's destined some day 10 solve tho prob
ON OF the rich and the poor and to
hr'rg peace on earth, among men good
W''''"
- the corpora ton which Will carry
IN the various works In which Mr.
'arreric has been engaged and such
rthrs "a h. may from time to time
'hr. .Jr'rablc 10 establish In accord
-77c with his gospel Of wealth 125,000,-
''0 IN securities has already been trans,
tp~rcd
Ey this means, as Is set forth In
'No statement given out by Mr.. Car