On dying rich:
The man who dies leaving behind him millions of available wealth, which was his to administer during his life, will pass away "unwept, unhonored, and unsung," no matter to what uses he leaves the dross which he cannot take with him. Of such as these the public verdict will then be: "The man who dies thus rich dies disgraced."
On "the duty of the man of Wealth":
First, to set an example of modest, unostentatious living, shunning display or extravagance; to provide moderately for the legitimate wants of those dependent upon him; and after that doing so to consider all surplus revenues which come to him simply as trust funds which he is called upon to administer, and strictly bound as a matter of duty to administer in the manner which, in his judgment, is best calculated to produce the most beneficial results for the community - the man of wealth thus becoming the mere agent and trustee for his poorer brethren.
On conspicuous consumption:
We are met with the difficulty of determining what is modest, unostentatious living; what is the test of extravagance. The answer is that it is as impossible to name exact amounts or actions as it is to define good manners, good taste, or the rules of propriety; but, nevertheless, there are verities. The rule in regard to good taste in the dress of men or women applies here. Whatever makes one conspicuous offends the canon.
On "indiscriminate charity":
It were better for mankind that the millions of the rich were thrown into the sea than so spent as to encourage the slothful, the drunken, the unworthy. Of every thousand dollars spent in so called charity today, it is probable that $950 is unwisely spent, indeed, as to produce the very evils which it proposes to mitigate.
On a "two-bit" mistake:
A well-known writer of philosophic books admitted the other day that he had given a quarter of a dollar to a man who approached him as he was coming to visit the house of his friend. He knew nothing of the habits of the beggar; knew not the use that would be made of this money, although he had every reason to suspect that it would be spent improperly. The quarter-dollar given that night will probably work more injury than all the money which its thoughtless donor will ever be able to give in true charity will do good.
On estate taxes:
Of all forms of taxation, this seems the wisest. Men who continue hoarding great sums all their lives, the proper use of which for public ends would work good for the community, should be made to feel that the community, in the form of the state, cannot thus be deprived of its proper share. By taxing estates heavily at death the state marks its condemnation of the selfish millionaire's unworthy life. It is desirable that nations should go much further in this direction. Indeed, it is difficult to set bounds to the share of the rich man's estate which should go at his death to the state, and by all means such taxes should be graduated, beginning at nothing upon moderate sums to dependents, and increasing rapidly as the amounts swell.
On waiting until death to give away one's money:
Knowledge of the results of legacies bequeathed is not calculated to inspire the brightest hopes of much posthumous good being accomplished. The cases are not few in which the real object sought by the testator is not attained. In many cases the bequests are so used as to become only monuments to his folly. Besides this, it may fairly be said that no man is to be extolled for doing what he cannot help doing, nor is he to be thanked by the community to which he only leaves wealth at death. Men who leave vast sums in this way may fairly be thought men who would not have left it at all, had they been able to take it with them.
On why the wealthy should not leave great fortunes to their children:
Generally speaking, it is not well for the children that they should be so burdened. Great sums bequeathed oftener work more for the injury than for the good of the recipients. It is not the welfare of the children but family pride, which inspires these enormous legacies.
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