THE CURSE OF THE DOLLAR.

New Zealand Illustrated Sporting & Dramatic Review, Volume XV, Issue 883, 7 February 1907, Page 20

THE CURSE OF THE DOLLAR.

Mr Andrew Carnegie, speaking on the wealth problem before the New York National Civic Federation, said that he accepted Mr Gadstone’s view that an income tax made a nation of liars. He regarded no tax as so pernicious, both economically and morally, and maintained that the nation would never regret anything so much as the attempt to collect a tax upon business men. He cordially approved of a heavy tax upon inheritance, and of graduated taxation as the best means of redistributing wealth. Lawmakers should compel every citizen to pay taxes in proportion to his ability. His experience had taught him that young millionaires were generally far from being the creditable American citizens that children of the poor are. “I would as soon leave a curse to my boy,” he declared, “as the almighty dollar.” Mr Carnegie said that the English income tax system could not be followed here owing to the different conditions prevailing. This was because the English leisured class was represented in the . Civil Service, and every English business man’s secrets were kept inviolate. Such a Civil Service system, however, it would be impossible to establish here in a hundred years. Mr Carnegie advocated the passage of a law requiring a-half of big fortunes to revert to the people upon the death of their possessors.