MODERN CAPITAL.

Samoa Times and South Sea Advertiser, Volume I, Issue 41, 3 August 1889, Page 2

MODERN CAPITAL.

. < i'W >'» .*" *••*•■ t Ikeana 'to Omftmf gave a avwtgaga oa »» whdb ptweerty to a ffow Torn treat oonsnea* to aeeve a toaa of $loO.«M>0. is the htyot sfogto toaa over ajada •aW vaJy • ea*s^^p*Mvann^*awamr Saab a toaa would knew boon poaaiblo la aa other day of the world. II Km asaaey aaawl haaa boon had at all It would hare haaa only oa the faith «f agotetamont. Tbaayatom of credit and oootatetitol faith that ha* boon built up ia the present eootury ha* made it poaaiblo to oollaat largo owns ia email amount* from huadrad* and thnwaaadt of pemoeje m i to use the aogregntod aanital ia prtrate entorprteaa that aaalq nam hare bean tarried out hy ethar eyatemn ofooutlMuiug iadiridual afforto, and taut no aiogla iudiridual oonld havo oUeinpUxl. The f I9O,OGV,Mki loaned by the truet ootummy w.*b thun made up of eoaJmaatUMu frota thonaanda, perhaua hundred* uf thuowuid*. of tndiriuuat*. it ha* combined them and wad* them eileetivo, am though they belong*! to ono poraoo. (rreat inHiridu.il aooumnUui'ir.Q of wealth hare marked the laet half oentury, yef it i* w«4l to n>ito how little of ono of the groat fortunes is need, or can bo uaod," by ita owaar• Tba great fortune* of the Gould*, tbo Vauderbilte and the Aetwr« are for the moat part giyen to aaouring aoatf jrt of other peorO*. The pwataatora hare littla other aabafaotion of thv pm|>orty than what they can get out of tbo prido of ownership.

Whan J&jr ihKilu wan to finned ; few yoara ag'» \>j tho rum.onta that !w im financially emboi-rosea* that be •hotrod the reporters' JSO,000,«}>"; worth of property In hi* vaultn lie illustrated this feet. The wealth on which the reporters wore alkxred lo feart their oyen ww not coin, ft wan merely a soil—t ion of paper, worth a few,cento a pound, uad if it had ham barked up the next moment the world would hn*o b.<*n m.ly a few dollar* the power. Tli« pnpor ropr!»eented wealth, hut Jay (braid w*s not using it and ooukl not use H. Thare were deeda to lead and houses, hut the house* eore being Urod in by other men and were ministering to .their «omfnrt, not to his. There were millions in hood* and Mocks of milroncJn, hut the roods were carrying, not Mr. Gould, who was in bin offu", but thousands of others fur whom Mr. Gould eared nothing. It is this that the aoMrmulaM'oH of capital in die hands of iadivi<liml* is not the injury to tho eontmtinif} that it might eppanr. If the oapitnli* built and ma liie Mttroed tor himself •lea* aad anow«# no one ebe ti> traralorerit; if every man had to build a house before hemuld live in it; if the mflnnaafn bad all hi* w-alth |n win aad oauld insist on spending it all oa himself, the atxmmuhttiou of gnat fortcaes would be ninchwntr* dangsaons than they are. and the standard of eamfoft in the world would ha onueh lower than it is. But by the modern system tho bene* fits of great enterprises may he shared by all the peoplo, and theeo-openition of the poor men may bring about results that ao capitalist would dsr* to aim at.