President Eliot, of Harvard, Tells of
the Blessings of Poverty and the
Penalties of Great Wealth.
Is wealth a hindrance to a young man starting out in life? Men who have
built their own fortunes are almost unanimous in answering yes. To have
nothing to begin with means, they say, illimitable opportunity, and
opportunity is the great developing factor; poverty means the stimulus of
real need, which impels men to take advantage of opportunity. To quote the
present Lord Mayor of London, Alderman Walter V. Morgan:
The best thing that can happen to a young man is to be poor.
Extreme poverty may sometimes hamper a youth's progress,
but, in my opinion, he is far more likely to make his way in
the world if he starts with the proverbial half-a-crown in
his pocket than with a thousand-pound note.
Riches carry their own penalty. President Eliot, in a recent address
before the student body at Harvard, said:
The very rich are by no means the healthiest members of the community, and
to escape the perils of luxurious living requires unusual will-power and
prudence.
Great capital at the disposal of a single individual confers on its
possessor great power over the course of industrial development, over his
fellow men and sometimes over the course of great public events, like
peace or war between nations. It enables a man to do good or harm, to give
joy or pain, and places him in a position to be feared or looked up to.
There is pleasure in the satisfaction of directing such a power, and the
greater the character the greater may be the satisfaction. In giving this
direction the great capitalist may find an enjoyable and strenuous
occupation. For a conscientious, dutiful man a great sense of
responsibility accompanies this power. It may become so powerful as to
wipe out the enjoyment itself.
The most serious disadvantage under which the very rich have labored is
the bringing up of children. It is well-nigh impossible for a very rich
man to develop his children from habits of indifference and laziness.
These children are so situated that they have no opportunity of doing
productive labor, and do nothing for themselves, parents, brothers, or
sisters, no one acquiring the habit of work. In striking contrast are the
farmer's children, who cooperate at tender years in the work of the
household.
Among President Eliot's hearers were many young men to whom the blessings
of poverty were unknown.