The Millionaire's Standpoint.

Tuapeka Times, Volume XLIV, Issue 5964, 27 July 1912, Page 4

The Millionaire's Standpoint.

Mi Andrew! Carnogio delivered his rectorial address a't University last month, and, as usual, said some interesting; things. The students do not Reem to have treated the great millionaire very courteously. More than 100 chairs were smashed to fragments during the course of the proceedings, while medical instruments uvro played and fireworks exploded. But Mr Carnegie was audible to the reporters at any rate, and some of his aphorisms were recorded. " 'Remain teetotallers until you have become millionaires," he said. " Until then you cannot rtllord to take alcohol. Smoking is silly ; it seems to indicate lack of good sense, and tcertainlv lack ol good tjiste." Turning to public matters, Mr Carnegie re marked that while an income tax might have some serious but still not overwhelming. objections, then! was " no objection whatever to onehalf of the millionaire's hoard l>emg taken by th ( . State at his death." After expressing the view that the present unequal accumulations of wealth could not be expected to endure, Mr Carnegie said that the cooperative system of production, with its thousands () f owners, was the entering wedge. In the United States Steel Corporation there were to-day more than workmen shareholders, a nd the number was rapidly increasing. Here lay, lie believed, the true and final solution of the problem—capita! and liuhour pulling together in the same boat a- ioint owners. lie wished that his daws could be prolonged in order that he might see the new world which must emerge from '"the present encouraging agitation." The millionaire did not indicate how his own attempt to get rid of Ins surplus wraith was proceeding, but he showed plainly that he did not think the people, could be expected to look at affairs from the point of (view; of the capitalist. He was prepared to laco the exactions of a labour Govormwnnt in a cheerful spirit.