The Chesterfield advertiser. [volume] (Chesterfield C.H., S.C.) 1884-1978, 1920-01-01
ROCKEFELLER DONATES
OIL MAGNATE GIVES A HUN.
DRED MILLION DOLLARS
FOR EDUCATIONAL AND
MEDICAL WORK
The Largest Single Philanshropie
Gift In The History OF The World ;
Will Increase Salaries OF
College Professors

away 100000, O,000-the largest rec
orded philanthropic single gift in the
history of the world.
Half Of the sum goes to the Gener-
al Education Board, itself Rookie
feller creation, to be disbursed, both
principal and interest, in co-operat-
ing with institutions of higher learn
ing in increasing the salaries of their
teaching staffs. Plans for disbursing
the fund are to be decided at the
boards meeting in February.
The other $5O,O00,O 900 goes to the
Rockefeller Foundation chartered
Ito promote the well-being of man.
kind throughout the world" Of this
sum $5,OO0,O0O, in Difference to a
special request of the donor, is to be
expended for the development and
Improvement of the leading medical
schools of Canada, which are to be
required to raise additional sums
from other sources. The balance will
permit an extension of public health
and medical education campaigns
| throughout the world.
The nearest approach in munifi-
cense to Mr.. Rockefeller's gifts of
$1OO,OOO,0OO in a single day is the
amount left for the public good by
Henry c. Frick, who disposed in his
will a sum for the general welfare
at first estimated at $117,3OO,OOO.
Subsequently it developed that the
testator had directed that the entire
Federal and State income tax to
which his estate was subject be de-
Quoted from some $50,OOO,OOO be-
queathed as charitable bequests to
residuary legatees. 1t was estimated
that this tax would be about $39,OOO,-
600, in which case Mr.. Frick's gifts
in his will would fall to $82, ZOO, 900,
or $18,00O,OO0 below Rockefeller's
philanthropic disbursement of day.
The only man who in his life has
come anywhere near to John D.
Rockefeller in sum total Of benefac-
tions was Andrew Carnegie, who,
with the avowed ambition of dying
poor man, gave away something in
excess of $35O,OOO,OOO and died
poor to the extent of $3O,OOO,OOO.
So far as is known the present dom
or never has expressed an intention
of dying poor. There was much
speculation as to the extent to which
his capital had been depleted by his
philanhtropies. In this connection
men of finance pointed out that he
was supposed, largely, it is true, as a
matter of guesswork, to be worth
81 100000 as long as ten years
ago. If he was, they said, he well
might have given away $5OO,OOO,OOO
in ten years without greatly reducing
his principal, except in so far as un-
expended income of any one year
would have become part of the princi-
pal of the next.
1t is obvious that he did not ex-
pend his entire income during any
year for charitable purposes and that
he has paid tremendous income taxes,
especially during the war years. On
the other hand, his benefactions run
back much more than ten years, which
gave rise to a belief on the part of
men more or less familiar with big
fortunes that he is at any rate no
poorer than he was decade ago.
Some idea Of how John D. Rocke-
feller started out in life and how
from the first he was imbued with the
spirit Of saving and giving may be OBJ
tanned from the pages of diary that
he has kept from boyhood. Some
fifteen years ago he addressed q
Bible class in New York and part of
his address was read from this diary.
Below are some of the things he said
on that occasion:
II believe it is a religious duty to
get all the money you can, fairly and
honestly; to keep all you can, and to
give away all you can. think that
is problem that you are familiar
with. / have told you before what
pleasure this little book gives me. I
dare not let you read it through be-
cause my children, who have read it,
say that did not spell toothbrush
correctly.
II have not seen this book for
twenty-five years. 1t almost brings
tears to my eyes when read it over,
and it fills me with sense Of graft
tude that cannot express. 1t shows
largely what l received and what
paid out during my first years Of
business. 1t shows that from Sept.
&c, 1855, until Jan. 1, 1866, ! re-
ceived $50. Out of that paid my
washerwoman and the lady I boarded
with, and / saved little money to
put away.
"AmoIg other things ! find that l
gave a cent to the Sunday school
! every Sunday. That is not a very
large sum, it is? But that was all the
money / had to give for that particu-
lar object. was also giving to sew
eral other religious obiects and what