RICH MEN AND THEIR WEALTH.

New Zealand Times, Volume LXIX, Issue 3673, 24 February 1899, Page 2

RICH MEN AND THEIR WEALTH.

Millionaires are very much to the fore otf:(says the “.Westminster Gazette ”) we have young Mr Bradloy-Martin, jun., defending the millionaires as a class in the nineteenth century. In reference to the lavish expenditure of Mr and Mrs Bradley-Alar-, tin, sen., the reviewer defends the famous bail which his parents gave in New York, when prodigious sums of money were poured away. “ It,” he writes, “ gave employment to numbers of seamstresses, gloveraakcrs, cabdrivers, Ac., who otherwise would have been om of employment all winter. In fact, in many trades hands had to be called in from other cities. But great as were the direct benefits caused by this abnormal demand, the indirect benefits to the trade were far greater still. The money placed in the hands of the dressmaker, tailor, Ac., enabled them to again employ commercial travellers in their business ; and thus an impetus was given to trade that was appricably felt over the country. Those directly employed were able to add to their trade revival: as they had more money to spend on the necessaries and luxuries of life, and those from whom they obtained them wore in their turn able to give employment to others; and this repeated itself right down the social scale, and was equally true of the cabdriver on the one hand ’. and the hotel proprietor on the other; in fact, the ball was like a pebble dropped ino a millpond, which created a ripple that extended to the four’ boundaries in -an ever-widening circle.” Yet Air Bradley-Martin, jun., declares tnat “it is a short-sighted policy to lavishly expend wealth. ’ Air Bradley-Alartin waxes very wroth over the idea' of preventing a rich man spending his income as he chooses. One wonders what such a millionaire as Air John D.'Rockefeller, head of the Standard Oil Trust, thinks of the article. Ho is now reputed to be the wealthiest man in the world, being worth (“Lloyd’s’’ asserts) nearly 80 millions sterling, with a yearly income of four millions. One paper points out that Rockefeller’s daily income is more than the President of the United States receives yearly. He could pay Air McKinley’s annual salary of £IO,OOO every day, and still be .worth £300,000 a year. The socialist papers claim that, when this mighty capitalist is worth 200 millions sterling, his great wealth will give him practically a monopoly of all the business interests in the I country, and will become a menace to | the Republic. Rockefeller's defenders point out that he has always been extremely charitable to churches and educational institutions, and that the possession of great wealth by such a man is a blessing rather than an evil. But America is not alone the home of millionaires. The death is announced, at the age of 75, of Air James Tyson, who was said to be the richest man in Australian. He started in life as a working overseer at a salary of £3O per i annum, and afterwards opened a whole- , sale and retail butchering business. This the, carried on with great success till 11855, when ho purchased large tracts of country for the purpose of sheep-fann-ing. These brought him such immense wealth that many years ago he was able to offer the Government of Queensland a loan of half a million, and in 1802, at a time of great’financial strain for the colonyhe.'took up of Treasury bills in order to assist the Government. , •’ , Would Air Bradley-Alartin defend a millionaire in giving a champagne dinner to a horse? Mr Clark, a wealthy resident of New York, and legal adviser to the city, is stated in a “Mail” telegram to have celebrated the winning of a heavy bet in'a novel manner., He invited the ; loser, Air Brown, a former Congressman, and 40 friends to a dinner in his coachhouse, which decorators had converted into a banquet hall. Paintings and engravings adorned the walls, and candelabra, banked by chrysanthemums, lighted - the “table. Air Gilroy, an ex-mayor,’ was toastmaster, and as the party grew'.lively'the .host momentarily,.’disapjpeared’, and, returned leading- to the table his finest, thoroughbred, for which a bowlful of’champagne was prepared. The horse .drank several quarts amid the most uproarious applause, and somewhat disconcerted several capacious guests. But it is" not all dining and display with millionaires. Read this sad message from Cairo, also in tho “ Mail ” : —- I 'A sensatiop has been caused here liy the suicide of a wealthy banker and financier in Egypt. The young: mail Miol/ himself vnthii Ycyolvcr, over,'-it ! is ; alleged) a love-affair/' 1 : ’’r