New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-02-06
r, on the Witness Stand Auakens Spectators MUth


= ing the various foundations which !
have established has been the desire 20
devote a portion OF my fortune 20 the
service Of my fellow men.
"The principles have been fully set
forth in the two chapters from my
book. Random "reminiscences which
has already been made part OF the
record OF your commission.
Question Your purposes and
plans with respect 70 the expenditure
o. the special s2.O00,000 annual fund
which Is reserved for your personal
use bv the Rockefeller Foundation?
Why He Reserved Right.
Answer The Rockefeller Founda-
ton vas development into imper-
solal form Of my own personal plans
Of giving. followed for many years.
While desired 10 have the directors OF
the Foundation free 70 use the fund'
as they might see ~. in making my
last gift reserved the right to desig-
nate. during my lifetime. the speoihc
objects 10 which S2.00O.0OO oil the IN
come should he given annually, my
purpose being in this way TO provide
for the various philanthropies more or
less personal to myself and related 10
the places Of my residence. 10 when
have been contributor in the past
Under the terms OF the clause OF my
letter Of gift reserying this right. II Is
STIMULATED that the objects must be
within the corporate purposes OF the
Foundation. and my designations are
subject 70 review by the board as "a
ths feature. 9.
Question 3 Your views regarding
safeguards which have been stated to
ne necessary 10 prevent sucn lnstitu
/ ,ions az the Foundation from becom'
inC a menace 20 the public?
/ "Ansver-I regard the right 10 amend
or rcscind the respective charters o.
the several foundations which inher'
. in the legislative bodies which granted
them as an entirely sufficient guaran
tee against serious abuse OF the iunds
Furthermore, have such conn
dence in democracy that ! believe II
can better be left to the people anc
their representatives to remedy fht
wills when there is some tangible rea
son for believing they are impending
rather than to restrict the power fo'
service in anticipation Of purely hypo
theticaI dangers.
Question 4-The conference At Tar
rytown with regard 10 the affairs o
the Colorado Fuel and Iron Company
at which were present Mr.. Welborn
Mr.. King. yourself and others.
"Answer-The meeting at Tarrytowr
therein referred = was purely socla
in character. Messrs. Welborn snC
King we're speeding the night with ny
son. He asked me 20 meet these gen
tlemen at dinner. never had had thu
pleasure of meeting Mr.. Weloorn be
fore. No conference took place. Suci
mention az was made Of business mat
ters was of a purely informal and un
premeditated nature. taking place as
sat at dinner beside Mr.. Welborn.
Stockholders Responsible.
Question 5-Your opinions regard
ing the responsibility Of investors an
directors for the labor conditions ex
isting in the corporations in whlcI
they are interested.
"Answer-I think that the stockhold
ers are responsible for the choice o
the best men as directors. The di
rectors are ultimately responsible 70
the general conduct Of the business
and in discharging that responsibility
Is IntlE OutN 10 stlttt tHC DCSt hhN
TO actually administer it. These ad
ministrative officers must have dlscre
, ton and power commensurate wit
: their responsibility. A large stock
holder would ordinarily have more in
. fuence with board OF directors than
smaller one, and consequently woul
have a greater responsibility for tn
selection of directors who would see
10. h. Iy,iv is.r 20 nfiparg
. tanned proper working conditions 70
/ their employees"
i Foundations and Sects.
Mr. Rockefeller. in response 10 fur
Their questions. said he had had no oC
casion TO contemplate definite syster
of public inspection that would be de
sirable for all foundations; ne had n
fear. and his observation had don
nothing 10 encourage one. that founds
tons would exercise an undue inhuenc
upon education. and he had neve
known. had never heard. and could no
imagine that any institution comm
under the educational class would b
likely to alter its avowed principles o
previous methods of procedure TO Sc
cure his gifts. although il had been hi
experience that colleges had given u
their UNCONVENTIONAL charters and re
moved the UNCONVENTIONAL connection
in order 10 secure grants from grea
foundations. But he did not know tina
this was true of any beneficiary OF hi
foundations gifts.
Chairman Walsh said Mr.. Carnegi
had mentioned that Methodist Episco
pal college had given up its denomina
tional charter and become non-secta
rian 10 get funds. but Mr.. ROckefelle
didn't recall the instance.
The witness shifted now and then Z
the left of his chair. and his left ham
tapped on the stenographer's table De
side him. He gave his answers IN IN
same steady tone, and the expression
Of his face varied but little. The spec
tators, very quiet, watched him keenly
Does not the greatest power whicl
these foundations can exercise arise on
Of their ability to give or 10 withhold
money"
at is a great power to give. 1t ma.
be equally virtuous and commendabl
20 withhold. great responsibility
rests upon the men in that regard, tn
men administering, the boards OF trus
tees"
Answering a question, Mr. Rockefel
Ter said there had been many cases o
u uluNudl lhhNo' oNN
as in some insurance companies, b.
men who stood high and were supposed
ly persons Of great integrity.
81 think that if there were on tn
part Of any one Of those foundation
something found 10 be wrong that tina
would be corrected. | should hope
would not result in harmful inference
70 the other foundations"
ain ordcr that tho great foundation
should be subject to the same reguls
ton and afforded the same protection
would you not deem il advisable tina
all foundations whose activities extern
10 more than one state should be char
4 Il.