TOPICS OF THE DAY.

Press, Volume XLVII, Issue 7524, 14 April 1890, Page 4

TOPICS OF THE DAY.

The death of John Jacob Actor haa called forth some interesting gossip in The Times regarding American millionaires. The founder of the Astor family, John Jacob Astor the First, wae the fourth sou of a village butcher, and was born near Heidelberg in 1768, and died in New York ia 1848. When he emigrated to New York he joined a brother m selling mueical instruments, but soon gave this up for the more profitable avocation of trading in furs with the Indians. During the war of 1312 he speculated heavily ia bonds at a discounts of 30 or 40 per cent, in a couple of years was able to sell 'out at a high premium. The bulk of his fortune, however, was made in speculating in Ne-v York land. Hβ left twenty mil lions of dollars to his son, William B. Aator. The latter had been helping his father in his business transactions. Between them they almost monopolised the China trade, and the son, like the father, bought land in the city. When thie second'Astor died in 1875 he left eleven millions sterling to his sons, attd it is the elder and better known who haa now died, his brother having pre-deceaaed him. John Jacob Astor, whose death ia now , announced ie euppoeed to have been, worth the anormoua sum of twentjf-tJWO; million pounds at his death.

American millionaires are now becoming almost alarmingly numerous. The Times remarks that where there wae one very rich man in'the United States when the first John Jacob Astor was in middle life, there are now five hundred. Many of them, of course, are almost unknown outside their own particular circle. The ways of making large fortunes, oar contemporary remarks, may be reduced almost to two—the scouring of. a natural or of an artificial monopoly. If a man has a tract of oil-country of his own, or a "bonanza" silver mine, he has a natural monopoly, as far as it goes. If he cannot acquire this, it is always open to him to try a "corner" in wheat jor > if he is a railway president, to buy up the competing lines, raise the rates, and enjoy an artificial monopoly, The maeees are hardly likely to view with complacenoy the lattdr method, especially when reduced to a science, as it has been in these days of " Trusts " attd " Syndieatee." (the Times sees a significant indication in the successor "Looking Backward" in the United Stated, although of course it cannot agree with the solution Offered ia that clever socialistic novel. "It would be folly to deny," says Our contemporary, ''that jealousy pf the. "great- capitalists united in corporations ia a serious danger in the great American cities."

Scabcblt less important than the question as to how millionaires, American or otherwise, make their money, is the manner in which they spend it.. In this respect the Astors hare set a grand example. Too first John 'Jacob, chiefly on the advice of Washington Irving, founded and endowed the Astor Library, and this, developed by the munificence of his son aud grandaoii, we are has become one of the great? libcaries .of the world. Up to 1880 the family had spent more than a miilion dollare on it. _ There are dozens 6t splendid educational institutions — each ac the Cooped Itistitttte, the John Hopkins UniCornell IJnivereityiirassar.dollege^ and the Calif by the princely;liberality*, o| millionaires. One of the most striking gifts of this kind is thac.of tfie Marquand collection of pictures to the Metropolitan Museum of New York. Already we learn the donor has presented some fifty old pictures of the Highest class—Eembraadts, Vandycks, Turners—bought , in Europe under the best advice. No wonder lovers of pictures ia England are aghast *C the manner in which the "old masWra" seem to be drifting Westward to the land of dollars. But it ie satisfacfcorj to note that even ill" America, where we have somehow got to regard great fortunes aa being inextrioably mixed up with extreme selfishness/ Wealth is recognising some of < its responsibilities. As milliouairee get to realise that it is their duty to do as much good as they can with the money which after alt will only be theirs for a'limited time, 'we" ehiU heal 1 ; lew of socialietao millenniums the "Hatr© Note " are to be made nappy at the cost of tho " Haves," and eterybody is to hate everything he wante—*t Otheif people's expense—and to work only so mnoh as he pleases. vi-■ ... : ".- ... ~■ . ; '~ , •' '

CoHaiDßsnia the proweaa of young New Zealanders in athletic exercises, And the wealth of beautiful eceaeiy which this country possesses, it'is a little strange that walking tbart aw not more in fashion. New Zealand • is «o well supplied with hotelß and accommodation houses that on most routes it ia possible to get food and ajeejgdng * accommodation afc convenient staged The climate is fat betbet adapted than Che English, climate for .excursions of this kind, while in point of scenery it is hardly necessary to say .Kβ* Zealand ia unsurpassed. It also goes without saying that there ie no other way of seeing a country thoroughly to be compared with the opportunities enjoyed by a pedestrian. If not tied to time, he can Stop aa long as he likea at a favorite spot, or he can diverge from the beaten paths to examine objects or scenes perhaps not accessible to the ordinary traveller. Our contributor tne " Wamgal'? has lately shown to readers of this journaj and of the; Weekly Preaa how much enjoy* ment is to be got from a tramp through the Peninsula. If further encourage* I

ment to wouUrbe pedufert^ sß ** ■** it, may be SfijJ ,,, ;.*.*, experience o f two VtitoZXS&J*** A. Dean and Symona, wt re *? >** overland journey from PiS^o^ r^te of^n,^^

Whkn we talk of walking tow. n , cotme understood that L fc * fc ■■>,« or just impediment wW a 'Jj*f» should not avail himself of - lift - over unmtereating Dean and Symona took train to Belgrove, and from Bwi ße fl2S Ghrirtohuoh. Whether thoyS? * time thereby, especially i a case, is, we belike, aa open „ J?* However, with these they walked all the way, daiJ*» distanoetf 38G miles m They were not in training £?. ** fact, just been released from T\ ' k spell of office work in Wellington \7 1 far from getting knocked m> ' Z*. * perienoing any great hardship*,, wet/* they look back upon th* feelmgs of great enjoyment, aad more "fit" now than when they S They were particularly having only one wet day durin ** whole of their journey. selves almost immediately after etuS he heart of the moat thoPelorua being renowuedfor iu£*' beautiea. Before reaching Ndam, J** paaaed Murderers' Rock, the Maungatapu mui-dera, thus fiadiaS p New Zealand, an element of wZSS intere 3 t, albeit in this owe of a iomTvl gruesome kind. O ae ot the a o t?lT * obtained on the journey af^ Nelson was the famou, ouUook hi ? Hope Saddle. Needta* tot, S* pedestrian* were enraptured W Kk J?'' journey down the Bailor ValW wk f e they had about a huudred mile* J JjJ ficent gorge and river eoeaerv •» Jj?TV oa end," aa the AmoricW £*** Beefton some of the gold were, of course, iuapeoted ]p Kumara they went by tray "of |T Brunner—a spot no ono in £* picturesque should /aUe-ewerriui iZ the West Coaat road at JackWs V 2 niidst of the fern* and the bush avenues for which this part mT West Coast road is famed. Of tfcit •!? , the journey it ia unnecessary to nJLT because the main features of th»S? have recently been dealt with ia &£ column. For anyone desirous of fate ing the pedestrian part of (ha J"' it would be a3 well, ,» take coach and rail from hnLJ to Greymouth, aad from ArUutf* ? w to Springfield. There would \% enough interesting country left toeiri«» on foot to satiety the veriest glutton, Oa J or two practical hints derived froa Messs [ Symons and Dean's experience may a* hapa be acceptable. Of course the pefa. trian should wear comfortable, weU-fttp. boots, aad good stocking* free frosafeu! The feet should be washed carefully fi?t « night, and it will add to the walfcs's comfort if they and the stocking are with neat's foot oil. The boots also be kept soft in the ems way, Oi course the pedestrian should #ear &im4 and 'travel light.' A pair «| boots should be carried to sttt on when wading creeks with sliiagis bede. The Wellington loaad " sou'-weatera "a comfort oa the vni they encountered—the speeiea of bearing that name we mean, oleoma) there ia no comfort in the olloaatio c*e* wester " in any part of Nevr Zealand. Tha travellers also found the parock po:t a great boon, aa enabling them to etaci m & portion of their baggage xiot immediately , needed; in fact, in going upeorioo£ fee' hills they invoked enough bleaaiuga oa the head of the inventor of that useful institution to set up a whole g&nskMl d young oouplee just embafkiag en fes matrimonial line. Finally it sm?b added that they epeak lα. tetmi of piik of the aooommodation they moti ntitk oa the route. At houses where tho coaches &b.pit was as a rule eJEcellent, and erea iat places, whero the p. ptietOrs are not of tea called upon to enter tain travellers, the people did thoteiy \ best with the iaeans at their diapoisj I make them comfortable.