The Twin City star. [volume] (Minneapolis, Minn.) 1910-19??, 1913-09-19
NORRIS ATTACKS
GREAT FORTUNES
Senator AssdiIS AstOr and Gar.
negi0 In Speech.
TARIFF RIDER DEFEATED.

All Inheritances OF $4,000, 600 or
More-outlines His Reasons For Be.
Loving Amendment Was A Good
one-Defeated by Decisive Vote.
Washington.-The names Of Vincent
Astor, Andrew Carnegie and other men
Of great wealth figured in discussion
In the senate on the subject Of swollen
fortunes. Several very unkind things
were said about the laird Of Skibo and
the means which he had adopted to
distribute his fortune
The discussion came up on an amend
ment to the tariff bill offered by Sena-
tor Norris of Nebraska. 1t provided
for a graduated inheritance tax. The
tax starts at per cent on inheritances
Of $50, 1000 and is graduated rapidly up
ward to proposed levy Of rs per cent
on inheritances Of more than $5O,OO0,-
600:
The Norris amendment was defeated
by an overwhelming vote.
Senator Norris said in speaking Of
his amendment:
ITO illustrate the working out Of this
amendment wish to take the estate
Of John Jacob Astor. Let me say right
here that l have nothing against any
Of the Astors or any Of their predeces-
sors or any Of those who live now. As
far as l know none of them has ever
done dishonorable act in the acquisi-
ton Of property.
"As far as l know the present young
Mr.. Astor is perfectly honorable. per-
fectly honest and has not done any
thing to secure his fortune that is ilIe-
gal, disreputable, unfair or dishonest.
When his father. John Jacob Astor,
went down in the Titanic he left an
estate, speaking in round numbers, val
ued at about $9O.OOO,OOO.
II am Informed by the officials in
New York city that this estate repre-
sents the increase in value of an orig
tnal Investments great many years
ago, Of course-of less than $2,OOOOOO
and that all Of this immense fortune
has been brought about by the in
crease in value Of real estate, princi-
pally on Manhattan island, in which
for all these years the estate has been
invested.
"With an investment. let us say
and 1t is liberal, as l understand it
of 100000 years ago made by the
original Astor, the estate has grown
until at this death Of John Jacob Astor
1t amounted to $9O,OOO.OOO. During all
those years. for several generations,
the Astors have really done nothing
except to see the estate grow and be-
come more valuable and to live in lux
ury of its income.
This property, originally worth ST.
100000, now worth $90,O00,00 has
been made valuable by the public.
Every man who ever paid taxes in
New York has contributed something
toward It's value. Every man who ever
erected building on Manhattan isl
and, whether 1t was mansion on
Broadway or humble cottage In the
suburbs, has done something to make
this estate greater
From the man In the street who
lulu IuC paving M w thC IhuotCA
minds that planned the giant skyscrap-
ers which lift their heads up in the
clouds, every one Of them has con-
tributed something to the Astors.
Every drop Of sweat that ever trickled
down over the brow of labor on Man
haitian island for century has con-
tributed its mite to the Astor fortune.
There is nothing unjust. Mr.. Presi-
dent. there is nothing unfair In such a
case, after the man who owned 1t has
used 1t during his lifetime. for the gov
ernment to say at his death, before
anybody shall take his fortune which
the people Of the country have in real
ity made. We will levy tax and give
a portion Of 1t back to the people,"