New Britain Herald Newspaper, March 20, 1925, Page 28

THER WEIGHT IN DIAMONDS 1E world's richest . - I e Or at SVAANNNNANNNDINADNNOVARNINNANANA NI NANAAVN AN G l le Who s he? r she? 4 Is the baby American? Or English? ‘ ’ 'l HERE was a time when there were no “miilion-dollar babies.” And not so long ago, at that. P V% Vi Now that baby Valentine Mountbatten, daugh ter of Lady Louise Mountbatten, is in direct line to inherit some day the vast e of the late nest Cass: thropist and finar must be considered in line for some claim t LAAAVZAVAY AN the title. But she has man A acore of babies are now States who some day will Inh ‘bulous tunes, ranging from ten hundred million dollars in each case, and perhaps even m In Detroft, Mich, however, there are some dren who some may be able to sign vames o checks for many times the $50,000,000 or more which it is possible for the Mou ten baby to | rit. They are the children of Edsel Ford. son of Henry Ford, whose a ed for tuns !s conser y ated as billion dollars IN ENGLAND i Gl (T o T it in one's mouth? Well, let's take a journey to Engiand #ce what's happening. Almost any sunny afternoon these days a fa: aired six-months-old bat rl may be scen in Hyde Park, London, bein ushed about in her praun,” alias “‘perambulator ¢ call & baby buggy. all the appearance of the t e and the clotlies baby wears th listinguish her from the other hundreds of hoy J girl bables that are being prc ' by their nurse-maids. And when this part! Many a kid of humbler circumstances has just s many. picture with mother that accompanies this e & plain suit of wooll 1y these me from a shop Queen Mar. d them herself for the little girl Ba. th nder of all her wealth, ther nest Cassel, was horn in Cologne, Ger many. His father was a banker, but Ernest, when he grew up, determined to make his own nd chose England to make it in So he started out in life as a clerk at the big salary of $4.75 per wer tired he had hecc one of the GAVE LAVISHLY Mexican State reorganized finances of the ine, negotiated China and i} modern Ej He was one of t VNAVVNV MUV VUV NS YN VYV VVAVA 7 AY VA AVAY ANA YA Y S AT a2 YA VoV oA VA A TAN 2V A VAN Gy VAN 7, YA VAN Y YNVIVVVV V.V VY VYLV VVVZVV V.V, V! d : s % el o V.V V.V V.V and the work doesn’t hurt me—oxcept pounding pavements keeps me rather thig. “Baby millionaires like the Astors and Wool- worths and Goelets and Carusos maybe never will know enything about playing hookey or hav- ing @ good scrap or picking their pals without an 0. K. from the nurse, or the tutor. “Maybe when they are 14 they'll be wheeling to fashionable schools in limousines—when I was getting my first job delivering typewriters at §1¢ a week, Pretty good for an errand boy, I thought. “When they go for a walk It's with & nurse %nd a couple of pedigreed pups. When T go I deliver a telegram, and if it's a long-distance job 1 get 93 cents for it, and 1% cents for every other message I've got in the book. BECOMES CH “Say, they may have millions in the safety deposit vault. But I've got $150 saved up in the bank. And T'll bet they never get the chance to throw out their chests the way I did when I stepped up and deposited my first dollar. “My uniform may have a few gravy spots on it ut that's a lot better than wearing velvet pants and having a governess stand ound with kbroom in her hand saying: ‘Naughty, “T guess I envy the rich kids once in a while— but not when I think about it. Why, those kids ill even have their reading matter picked out for them. I read what I want, History and the lives of Roosevelt and Lincoln are pretty good, and 1 put my nose In the dictionary once in a while—whenever I can. This stuff about mes- A search through the records will reveal that it not the fathers, then the grandfathers or great-grand fathers of the present crop of golden spoon children were born into pow erty. They worked for their living amk many times didn’t know where their next meal was coming from. Often the founder of the fortune arrived at a ripe old age before it assumed any slzeable proportion. It would not be possible to accu- rately estimate the combined poten- tial wealth of the children whoss plctures are on this page, but a con- servative guess would be a quarter of a billion dollars, PR HE estimated fortunes of the founders of these stupendous fortunes, just before they started out to conquer the world, would be about $16.45. In no countries other than the United States and England has it been possible for men or women (o amass such sums. That is why, when speaking of *poor little rich children,” it is always necessary te search America or the United King: dom for subjects. . e THERE has developed, as a result, in the United States and Eng- OV Y AVAYAY land a fecling that, while these chil A senger boys reading dime novels is the bunk; I dren of wealth should be entitled ta iresy isayel ; T AR never read one, at least. - - / - major portion of their father's 5 Messenger boys don't all shoot craps and (AL BN (i TS tor athe fruits of labor, still in justice to common soelety and the children themselves, they should not he en- i smoke cigarets, either. 1 don't, If a kid lsn't And Patricia Edwine, being a good Englis ght of rich children. T.eo at rich he can play marbles and things like that. 1 nd not an American baby or a Frer ssenger boy in New York City, guess some rich kids think marbles are some & i titled to all of ft. It should go back n.ediately proceeds to stop. th Robent ae tinra : : : ; % : and his a . in , may be take typical thing they decorate hotel lobbies with, itled to t should go ba into circulation, is the view that has been taken. s have it pretty PATRICIA EDWINA the “n dollar } il Don The s yuker] S T IS ot HAVEN'T EVERYTHING someb: its nurse to thefr home the richest baby in the wo a Edwina | men England ev She is related to t at soma d eise besides g00-g to claim ¢ Mary ar NOW THEY WORK governesses and | THERE WILL BE _NE\_N“I\EA&IE—S SOON FOR AM‘ERIC A’S “POOR LITTLE RICH” “Probably I wouldn't know how to act in front of a butler, but I meet lots bigger men than butlers. And when I tell them to sign on the q line they do it—for & telegram, I mean. s with a million dollars are all right—but haven't got everything.” And though Leo didn't know it, and probally doesn't know it now, it is just his quaint phil- osophy that parents of rich children have come to accept. They realize now that the best preventive of laziness, of uselessness, is regular pl What 1s good for the poor hoy is good for the rich boy, they now argue, and, as a result, most rich jabies today are being brought up in a demo- ratic way, the like of which would have brou a shudder to blue-bloods of a generation ago. Children of the rich nowadays are being brought up to play with their neighbors. In most of the ases the children actually are different than others, or rather t be different in the years to come. Fathers of rich boys are to a unit figurative ladder and work t There was one instance w siderable newspaper publicity ccrtain father in @ western city, determined that his boy should not grow up to be a loafer slmply ause he (the father) had money, made a pro 4 in his will which gave all his wealth ex $10,000 to benevolent organizations The $10,000 went to the son. And so deter- minedly had the father drilled the idea of inde- pendence into the boy the latter, though 16 and about the age when a Loy begins to know what money means, didn't protest The case of the Garland youth, who inherited a million dollars and then refused to take it, is another striking cxample of the “don’t-care” spirit of the modern youtk Garland point-blank refused to touch the money because he had not earncd it, and he went on a farm, This has not been a product of the Socialistic mind. Far from it. It emanated from the brains of con servative politicians and statesmen, They produced a series of exce: profits taxes and inheritance taxes, a set of laws so stringent that it is most impossible for the child of wealth to be “too” wealthy when he becomes of age. PR HE present federal Inheritance T tax of this country is as follows: Up to $30,000—1 per cent. $50,000 to $100,000—2 per cent. $100,000 to $150,000—3 per cent. $150,000 to $250,000—4 per cent, 0,000 to §450,000—6 per cent. 0,000 to $750,000—9 per cent, £750,000 to $1,000,000—12 per cent 000,000 to $1,500,000—15 pe 1,500,600 $2,000,000—18 per £2,000,000 1o $3.000,000 $3,000,000 to $4,000,000 $4,000,000 $5,000,000 £3,000,000 to $8,000,000—30 $,000,000 $10,000,000-35 per $10,000,000 and over—40 per cent Then, too, the individual states have inheritance taxes of their own, and they are not in the least back: ward about imposing & good one. S¢ that, all in all, the lJaw of the land is doing its best to prevent children from coming into this world assured of a fortune which they themselves could not possibly bave made,