The sun., 1919-04-06
Other Monarchs Enjoy Large Incomes
From Business Investments
Private Bank in London the
Repository of Many
Royal Millions
Royal Millions

dence in the land of her adoption that
she invested all her fortune in for
eign countries.
King George owes his private
fortune largely to the sagacity OF
his grandfather. the Prince Consort,
and to the prudence OF his grand
mother, Queen Victoria. From the
time Of his marriage until the day
OF his death he invested nearly every
cent OF his British civil list allowances
of $4,000 a year In real estate In
the then uninvitins district Of South
kensington. To-day II is one Of the
smartost and wealthiest quarters of
the British metropolis. and the land.
mostly held on ninety mine year leases.
is becoming every day more valuable
and yields very large revenues.
! The Prince Consort also established
whiskcy distiller!es on his BalmoraI
! estate IN Scotland which remain a
source Of considerable profit to tho
reigning family. Queen Victoria was
also the recipient OF a number Of very
large requests; in three instances from
millionaire subjects without any rep
sentatives or legal heirs, who were led
| by sentiments OF patriotism and 10y
atty. as we'll as by admiration for her
| character, TO devise to her their for
| tune. Then, too. Queen Vic loria lived
well within her means and her savings ,
from her civil list were most ably ad-
ministered by the late Lords Sydney
and Cross who were her trusted coun-
| sellers in all business matters. Thanks
! 10 this she was able TO provide very
/ literally for her favorite son, the Duke
/ of Connaught, and to leave the bulk
OF her private fortune entailed for the
benefit OF her grandson, King George,
and for his children. /
No Burden to Taxpayers.
King George differs from all other
rulers in the respect that neither he
nor the members of the reigning house
cost the British taxpayers in the
United Kingdom and his oversee de-
pendencies a single cent. a fact which
should be widely known. on his ac-
cess!on to the throne George, following
the example of his father, Edward
VII, and of his grandmother, Queen
Victoria. voluntarily turned over for
the term of his life the crown property
TO the national treasury in return for
| "a civil list.
When Victoria became Queen in
1887 the revenues of the crown
property about equalled the civil list
voted to her and TO the members OF
her family by Parliament. Since then
by dint OF careful management and
also through the generous increase of
values the income derived from the
crown property, the ownership OF
which is vested in the sovereign, has
mot merely doubled but more than
trebled, while the civil list has re-
manned to all intents and purposes the
same. The consequence is that the
national treasury Is very great
gamer by the transaction. and that
King George and the relgning family
OF England. instead OF being a source
Of expense to his taxpaying lieges, are
on the contrary a source OF revenue
and profit.
Coutts's Bank. where King George
keeps his private account. as does
also Empress Eugene. following in
this respect the example OF her hus-
band. Napoleon Ill. has been in exist
ence since 1892. The principal owner
of the bank is Francis Money Coutts,
in whose favor the ancient barony OF
Latmer has been revived by tho
crown after an allegiance OF centuries
He inherited his holdings from his
aunt, the celebrated philanthropist,
Baroness Burdett- Coutts, whose Amer
lean born husband. William Burdett-
Coutts. NJ. p. formerly William Leh-
man Ashmead- Bartlett. a native OF
Brooklyn, still survives
Lord Latimer is the great grandson
o. the celebrated banker Tom Coutts.
who on one occasion when threatened
by old Queen Charlotte in the reign
! Of George III with the withdrawal OF
her money in consequence Of the rad
icallsm o, his son-in-law. sir Francis
Burdett insisted upon the removal OF
hor name from the books OF his frm'
within two hours. and absolutely re-
fused all her applications TO reopen
her account. .