Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-07-25

the possibility of building up ndestructble aris-
tocracy based upon wealth in word, the vexed
problem of that most interesting of American figures,
the mionare's son.
Alfred Vanderbilt disposes of a fortune generally
estimated at $3O,OOOOOO. His oldest receives
fiat $5,OOOOOO Each of his other sons, the children
of second marriage, receive $7,5OO0OO These three
children represent the elder line of the Vanderbilt
famil y-the American family which still, in spite
of recent developments, fires the popular imagi-
nation as embodying all the power and prestige of
unlimited wealth.
"As rich Vanderbilt" long ago became a pop
ular proverb Yet probably hundreds of Americans
whose names scarcely known possess fortunes
much larger than do these latest Vanderbilt heirs.
Commodore Vanderbilt, the founder of the family,
died in 1877 leaving fortune of $lOO,OO0,OOO
Eight years afterward his and heir, William
Henry died the richest man in the world having
exactly doubled his inheritance. In 1899 his
Cornelius died, leaving $72OOO,OOO. Now his prn-
cpa heir, Alfred g., leaves only $50 100000. Com
pare, for moment the fortune of William Henry,
the head of the family in 1885, with that of William
Henry the head of the famy-head in the =:
of being the Oldest of the elder branchin 1915 10,
The first William Henry in possession of for ;t
tune of 600; the present William Henry has SUI
fortune of S50O0,OOO. Clearly here in fgur- no
alive and financial sense, we have of
"shrt-sleeves to shirt-seeves in three generations"
Another recent happening indicates collapse in
that other American family whose wealth and power
late as 1900, seemed founded on rock In March
of this George D. Gould surrendered control of the
Missouri Pacific Railroad group of bankers represents
ing the Northumberland Oil interests.
When Jay Gould died, in 1892 he left his family abso-
lutely in control the Manhattan Elevated railroads in
New York. the Western Union Telegraph Company, and the
great Gould railroad system. The marlborough Company
took the Elevated roads in 1903 the Bell Telephone
Company purchased the Western Union about five years
and the Harriman-Sandard Oil capitalists have cap
turcd the wonderful Gould railroad system. Thus it has
taken only twenythree years to reduce the Gould family
to financial impotence.
New York's Millionaires in lS47
IN lS47 Moses Yale Beach, distinguished journalist
published a brochure giving the names of the chest
Americans of New York. 1t contains only three
--Astor Vanderbilt Goelet-hat to-day carry sug-
gestion of great wealth Do such as Aspinwall
Grinnell, Beekman, Boormun. Harmony. Rowland, and
Hunt anything to the modern American schoo-boy?
In their day. however these great milonaires
they filled the popular Imagination completely do
Rockefeller, Carnegie, Prick, Armour. and Marshall Field
to-day.
Nlillonaires have many difficult problems face and
probably not embarrasses them much what do
with their They find no difficulty in wringing add
onal millions of railroad stocks the proper way of
handling their successors however. is poser
Let boy know that he going to be rich when he grows
up said Russell Sage land in nine of he will
turn out worthless.
mo should leave money to his children, said
Cecil Rhodes. at is a to them. What should
do for children if would do them the best service
can to give them the best education procure for
them and then turn them loose in the world without six
for themselves What happens when you leave them
fortunes? They have no longer any spur to effort
Many famous Americans have expressed similar ideas
When Henry Ford announced plan of protsharng that
inevitably huge dminuton of his profits,
likely become of him. This replied Mr.. Ford, would
shift had he