Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1913-02-20
Majority Report of Senate
Judiciary Committee Be-
IieveS Il Would Be Blessing
to Humanity,
SENATOR CULBERS0N
REGARDS IT AS MENACE
Texas Statesman Opposed 10
What He Terms Would Be
Federal Protection for Sc
curitieS Of Standard Oil Co,
IB, Morning journal speclaI Leased wlre.

tBv Morning journal special Leased Wire. |
Washington. Feb. 19-That the pro-
posed SfOO. .000, 600 Rockefeller foun-
dntlon for benevolent purposes CON
sttutes the safest disposition that can
be made of that portion Of John -.
Rockefellefs immense fortune. is the
conclusion expressed In a majority re-
port from the senate judiciary COM
mittee to the senate today. rccom-
mending the passage Of the Rookie
foller foundation bill.
This money Is now In the control
OF a private Individual who could Il
he chose. direct its use TO purely pri-
vate ends for considerable period
after his own DEATH" says the report.
Instead Of this he proposes TO place
IL. subject to congress. in control of q
body of men now actually administer
ing wen known charities of acknowl-
edged usefulness.
IN an opposing report. Senator Cul-
berson attacks the proposed incorpo-
ration for the Rockefeller fortune.
on the ground that IL might give fed
crai protection for fifty or one hun-
dred years to great amounts Of Sc
curities of the Standard OH company
or other monopolies.
The majority report says the bin
has been changed So tnat all danger
of an unrestricted perpetuation OF the
Rockefeller foundation is done away
with The choice OF successors 10 the
AVlgIRtf f.4sl.I f.s.
proved under the terms Of the hill by
the president of the United States. the
chief justice of the supreme court.
the president of the senate. the speak
er OF the house and the presidents of
Yale, Harvard, Columbia. Johns Hop
kins and Chicago universities.
"The proposed foundation" says
the report lis an exception among
charitable trusts in tnat the element
Of perpetuity practically has been re-
moved. While II Is eminently fitting
that congress should serutinize with
the utmost care the provisions of such
character with a view 10 remedying
defects and preventing abuses, 1t also
IL fitting that congress should recog-
hlNt NHt puSNlhltlAltS VI koou 10 iHfS
country and TO humanity that are in
herent In a great philanthropie en-
dowment. properly safeguarded and
wisely administered and that II should
welcome the opportunity OF giving the
sanction and encouragement Of the
government to the great enterprise
contemplated by this bill"
\ In his opposition. Senator Cnlber.
son takes the opposite view Of pro-
lection given the public By the pro-
posed Incorporation. "lt IS not sound
policy to concentrate and tie up IN the
hands of few men. such vast sum
of money" he says. so also the pol
ley Is unsound of ohartering a corp0-
ration with such powers and putting
no limit or restriction on the character
OF the vast sums which are to be re-
ceived by it and distributed without
legal check or hindrancc. VIII the
funds be IN part. or in whole. the se-
curities Of the Standard OH trust or
other gigantic monopolies2 It seems
clear to me that congress should not
thus encourage ana foster the mass |
ing and holding together Of such vast /
finances nor lend It's authority to the /
perpetuaton of the fruits Of combina- I
tions and conspracies against the
public veal