The New York herald., 1922-08-28
A Few Facts That Are Due the Public

any property or interest that lent itself to
profiteerng during or after the war.
l made money whatever. directly or In
directly, out Of the war anything associated
with the war. On the contrary, my interests.
due to the high cost OF magazine and news
paper making and the generally disturbed
condition of affairs suffered a very heavy
shrinkage during the war and in the imitation
period after the war.
This statement, answering the charges that
my fortune has been made largely in Wall
Street and from muniton investments and
war profiteering, must not be taken to mean
that have any apologies to make Tor my
operations in listed securities. l ventureo
less into the realm of chance in Wall street,
far less, than did in undertaking to found
and build up without capital and without ex-
perience a magazine business in competition
with the great established magazine proper
ties OF New York, and / took far less chance
than have taken. and one generally takes, In
the daily newspaper field.
The fortune have, such as it is, has come
primarily from two sources: the forty
dollars capital brought with me from Maine
to New York forty years ago and the capacity
mystery, no legerdemain, no short cuts to
fortune building with me. 1t has been done
by fairly sound reasoning the courage to put
my conclusions to the test and by paying the
price in work.
l am thorough believer In work. love
work and / wish all Americans loved work as
I love It, Generally speaking, there is no
such thing as getting something for nothing
We must pay the price in thought, in care, In
watchfulness, in work-intense. everlasting
work.
If / were a manufacturer Of hardware. or
textiles, or Shoes or anything else not linked
up with public affairs this statement In an
swer to careless and vicious charges would
not be imperative, though I hold that one who
is at all before the public, whatever his Due
Of endeavor, owes 1t to the public to correct
misstatements and put the truth before the
public
Calumny travels fast ana far and unless
Appreciated is accepted as the truth by the
public. The public has no reason to suppose
calumny isn't the truth II allowed to stand as
the truth.
But with the newspaper owner the situa-
ton is highly sensitive, as the newspaper is
a public institution. The newspaper is just
what the man back Of it makes 1t. The news
paper mirrors the man pack Of 1t. mirrors the
man who puts himself into 1t. II his heart is
in the public service his newspaper will be
bulwark of strength to the community and to
the country Indeed with the present political
subserviency to the vote the best hope for
sound government must rest with the well
purposed independent press.
The attitude of THE New York HERALD on
the bonus question has been the conscientious
attitude Of the owner Of THE New YORK
HERALD. have no personal selfish motive
in my objection to the bonus. Fifty bonuses
might be paid to soldiers and it wouldn't affect
me personally.
have taken my stand against the bonus
on the ground that it is all wrong in theory,
that 1t degrades the American soldier. 1t
robs him of the spirit of patriotism. the spirit
Of defense of his country. l have taken my
stand against the bonus because the Govern
ment is In no condition to shoulder this addi-
tionaI burden, because the taxpayers OF the
country are In no condition to shoulder this
additional burden, and because The payment Of
this proposed bonus to soldiers would be a
vicious precedent for future generations to
deal with.
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