GOSPEL OF WEALTH.

Timaru Herald, Volume XIIC, Issue 13803, 14 January 1909, Page 7

GOSPEL OF WEALTH.

RICH MEN'S SONS. Three years ago President Roosevelt called the attention of Congress to the uneven distribution of wealth, and recommended high, progressive taxes upon estates at tlio death of the owners. Mr Carnegie at once sent a copy of his book, '"The Gospel of Wealth," written in ISSO, to the President, who replied that "he was greatly struck with the fact that 17 years ago you had it all." Jn the '"Problems of To-day" Mr Carnegie recapitulates some of tlio suggestions he made in "The Gospel of Wealth," and adds others, all of them .showing the community a. way of winning back the huge sums amassed by millionaires. Air Carnegie does not deny that, millionaires are generally inou of ability, but he sees that much of their money is made for them by the community. This is always the ease where the fortune comes through the appreciation of real estate and the largest fortunes come that way. Some of the money, of course, conies hack in taxes to the community, but not enough, Mr Carnegie thinks. J-le gives figures to show that in the iJritish Isles the rich pay of the £120,000,000 collected in taxes £38,000,000, the middle classes £42,000,000, and the working classes £40,000,001). Jf the assessment were made in proportion to accumulated wealth the figures would be £90,000.000, £22,000.000, and £7,500,000 respectively.

'J'lus is, he .-.ays, " not' Socialism." It is sound Adam Smith doctrine, and should bo conceded as the just claim oi moderate men. Mr Carnegie does not believe in Socialism. The State ownership of industries is a mistake, and industries must remain in the bauds of business men. And men should be allowed to make millions for if they have the ability to make; them they have also the ability to use them well". But the millions should not go to the millionaire's children, who nearly always use money badly. They should go to the State at the millionaire's death. " Wealth in America has never yet passed beyond the third generation." Capital and labour should work together. Workmen should have every opportunity of becoming shareholder.-, in the linns which employ tliem. Mr Carnegie looks forward with Hope to the day " wlieii it shall be tm- run- for tlie workman to be partner with capital the man of affairs giving his business experience, the woricing man in the mill his mechanical skill, both owners of the shares." Half a million sterling of shares was offered by the Steel Company this year to worKmen, ami soon nearly 100,00(1 of the company* men will be shareholders. ■■ Mr Carnegie defends individualism against Socialism, and regards wealth as beneficent rather than evil. His book abounds witu aphorisms ol which the following deserve quotation as interpreting his gospel : The speculator seldom leaves a millionaire s fortune. . , The millionaire is both mindful and shrewd, more apt than those ol smaller fortune to invest his capital carefully. Oulv bv the manual working man is money ..regarded as the great idol of our ago. The most miserable of men, as old age approaches, are those who have made* -money-making their god. It is a low and vulgar ambition to amass money. . To keep a fortune is scarcely less clitiicult than to acquire it. There is at present no foundation upon Which wealth can be equally distributed. . Socialism is doomed to inaction as a system, until and unless human nature'itself is changed. Never was there so much of the spirit of brotherhood among men, never so much kindness as now. No wise employer will lightly lose bis old employees. In the participation of labour as shareholders in every branch of the business lies the final and enduring solution of the labour question. If we were to divide the vast army of workers into savers and spendthrifts wo should practically separate the creditable from the discreditable. Temperance and thrift are virtues which act and react upon each other and are seldom found apart. Not "Heaven our Homo" our motto, so much as "Home our Heaven." The young man reared in poverty, who must work that he may oat, has developed the qualities upon the exercise of which the progress of our race depends. Work is no punishment; it is a. bless-