The Characteristic Philosophy of Russell
Sage, the Most Contented Multi-Millionaire
in New York.
Nearly ninety years of age and weighted with scores of millions, Russell
Sage is to-day one of the most completely satisfied rich men in the world.
This is true, for "he himself has said it, and 'tis greatly to his
credit."
Russell Sage is now the oldest of the money-kings of New York. He was born
seventeen years before Andrew Carnegie, who threw off the harness of
business five years ago. The original John Jacob Astor died at
eighty-four, and Commodore Vanderbilt at eighty-two. But Russell Sage
still is standing at the tiller of his gold-ballasted craft, as keen and
sharp-eyed as he ever was. Of all the famous figures of Wall Street, only
Daniel Drew lived to greater years; and Drew lost all his millions before
he ended his long career as a speculator.
Mr. Sage is as saving in his opinions as in his money, and it is seldom
that he can be persuaded to make his mind an open book for the general
public. But recently he consented to give the New York _World_ the full
story of life as he sees it. It is the most complete description of the
Sage philosophy that he has ever given to the public. Whatever this advice
may be worth to you, it has been worth about a hundred millions to Russell
Sage:
I think, if I had my life to live over again, it would be as
honest, as simple, as home-loving as I could make it. I
would try with all my power for home-like comfort,
happiness, and long life, as against show, shallow pleasure,
and a short existence. Home life is best. Clubs are only a
place for idle old men and wasteful young men.
Great wealth is not everything, by any means. The mere
making of money is not the only criterion of success. Many
men whose names are our common heritage have died in very
moderate circumstances, or even in poverty. Money is not a
measure of brains.
Real success is often achieved after many failures. An
active man builds success upon a foundation of failure; a
passive man does not. A real man is not hurt by hard knocks.
Hard knocks make character.
I think, had I my life to live over again, I would make
charity a life study. It is a science. It cannot be learned
in a day. The older a man lives the more he gets to realize
this. From my own investigations I have found that there is
a large class of professional mendicants that prey upon the
well-to-do and charitably inclined.
From time to time I have taken a whole month's batch of
appealing letters and have had them thoroughly investigated
by trained agents. Very few have been found to possess real
merit. Most of the appeals were from persons who would not
help themselves even with the aid of a helping hand.
Real charity is dispensed without the blare of trumpets.
Notoriety and professional philanthropy, indiscriminate
alms-giving in any guise, have always been repugnant to me.
I have never asked for any publicity for what I have done.
Silence has invariably been my rule and practise.
If I had my life to live over again I am sure I should not
attempt to move in what is termed "society." I would rather
be one of a few gathered together by a bond of friendship
than to partake of all the glitter and hollowness of what is
called the "Four Hundred." The friendship of a few outlives
life itself. Friendship remembers; society forgets. In the
home only is there true happiness. It is there that a man's
best ideas get their birth and grow.
If I had my life to live over again I would marry even
earlier than I did. The tender care of a good wife is the
finest thing in the world. I am thankful, indeed, that I
have had this in the fullest measure.
Thrift is the first element of successful manhood. When you
have made your fortune, it is time enough to think about
spending it. Two suits of clothes are enough for any young
man. The only thought that a young man need spend about his
clothes is to look out for bargains at the lowest price.
Let him be on the lookout for cheap hats, bargains in shoes,
knockdowns in suits. He is fostering business traits that
augur well for his success in years to come.
The boy who knows bargains in socks makes the man who knows
bargains in stocks.
Fifty cents is enough for a straw hat; it will last two
seasons. You can get for thirty-nine cents an unlaundered
white shirt which is excellent. You can get a good
undershirt for twenty-five cents. Silk is not for salaried
men. Fine clothes bring sham pleasure. Don't try to rival
the flowers of the field.
A rich man does not work for himself alone. He is really the
nation's agent. He turns his wealth over constantly in a way
that helps others. No one need be alarmed over the constant
increase in the wealth limit. Big enterprises require big
men.
There is no such thing as a money-curse. It is the man, not
the money, that makes the amount of individual wealth wrong.
A good man cannot have too much money.
And so let me say in conclusion, if I had my life to live
over again, I would try just as hard as I knew how to turn
my money over and over again, that it might do the most good
to other men.
I would live no differently. I would do as hard a day's work
as I knew how. I would not feel it necessary to take
vacations to recuperate. I would get my pleasure simply. I
would dine simply on plain food. After dinner there would be
a little reading of the papers or of good books, a chat with
friends that might drop in, and maybe a game of whist. I get
plenty of relaxation from an exciting rubber. When the game
is over, my day is done. I sleep like a top till morning.
That would be my life if I had it to live over. All my life
my home has been my haven of happiness.
Roosevelt and the Labor-Unions.