The Washington herald., 1914-08-02
JDFRING MILLIONS BY HANDS THAT ARE IN TOMB

estate. but the revenues intended for
public uses should be apportioned, II
seemed to me, by n more representative
agency.
There came into my mind, as the idea
| grew, the thought of a permanent
foundation, the property and funds Of
| which should be managed by the banks
directors and the income Of which should
be spent by q committee acting for the
bank and the public. II that were done.
believed. all charities educational en-
terprises and civic needs would be judged
on their merits That. In the rough, Is
the genesis. as well as the object OF
what Il now known as the Cleveland
Foundation.
Pledges for $4,000, 900.
Il called in and counseled with large
number of men-manufacturers. mer-
chants. bankers. editors. uplifters. re-
formers. labor leaders and so on. They
all agreed that the scheme was sound
and Workable. Wealthy men were en-
thusIastic They saw safe and rational
way Of disposing of the property they
purposed to leave for the benefit Of the
public. l...
"A century hence / said privately.
the fund will amount to SlOOOOo,Ooo.'
My associates in the bank thought that
I was entirely too sanguine. Conse-
quently, I reduced my prophecy TO So
o,ooo. Well. inside Of ninety days after
the details of the foundation were made
known We had pledges totaling 500 900.
We shall have Sjc.0OO.OOO in FIVE years. I
think. and 800, ,OOO. 600 within twenty-five
years and possibly very much sooner.
The sum we obtain, whether It is
larger or smaller than my expectation, IL
| to be given the foundation by men who.
having made ample provision for their
families. desire to devote the remainder
| of their fortunes to the uses Of the public
The foundation makes the accumulation
OF wealth respectable by insuring the use
| fulness OF that wealth. II makes il hon.
orable for a man to build up a fortune
! in the community because II provides he
means for the return of that fortune az
whole or in part for the permanent
| service OF the community.
Five persons-an3 sex Is no qualifca-
tion-constitute the committee that Is to
distribute the income OF the foundation.
/ Two are to be chosen by the directors Of
4 the bank, one is to be chosen by the
mayor Of Cleveland. one by the probate
Judge and one by the Judge Of the United
States District Court. Members of the
committee are to serve without compen-
cation. Not more than two Of them. and
preferably but one OF them. can belong
to the same religious denomination A
| new member is to come into the committee
every year Oficeholders and officeseek-
ers are disqualified altogether. The 'nem-
beTs Of the committee must be residents
OF Cleveland and informed concerning the
social. civic. educational, moral and char
liable needs of the city.
Any One Can Contribute.
The foundation, have said, is a
community trust for the conservation OF
wealth and for the efficient utilization OF
the proceeds of wealth. Any one having
property. even 10 its value amounts to
only 500, can leave it to the foundation.
but the foundation is to be Of particular
service TO three classes. namely. pos
SCISSORS Of wealth. who have no heirs;
rosscssors Of wealth. who. Gfter providing g
for children and relatives. have a surplus
tc dispose of. and possessors of wealth
who. after caring for children and rela-
tives out of income, desire to have the
principal used for the good of mankind.
Tenement houses. art museums.
asylums hospitals. anything and all
things which contribute to the comfort,
relief. education, and improvement Of rhe
by the Committee A live hand, con-