How rich in their own right are the particular Money Trust lords who run this great University it is not possible to determine, because these gentlemen, for the most part, keep their affairs secret. But in the list of those who have died during twenty-two years we have means for an estimate, for the property of many of these was listed in the probate courts of New York and appraised by the transfer tax appraisers. A study of these records has been made by Henry R. Linville, president of the Teachers’ Union, and he has courteously placed the manuscript at my disposal. There are twenty-one trustees who have died and been appraised, and the list of their stocks and bonds fills a total of twenty-three typewritten pages, and shows that the total wealth on which they paid an inheritance tax amounted to one hundred and seventy-three million dollars, an average of over eight million each. I note among the list five members of the clergy of Jesus Christ, and I am sure that if He had visited their parishes He would have been delighted at their state of affluence—He could hardly have told it from His heavenly courts with their streets of gold. The poorest of these clergy was Bishop Burch, who left $37,840; second came the Reverend Coe, who left $80,683; next came the Reverend Greer, who left $172,619; next came the Reverend Dix, rector of Trinity, who left $269,637; and finally, Bishop Potter, my own bishop, whose train I carried when I was a little boy, in the solemn ceremonials of the church. I was dully awe-stricken, but not so much as I would have been if I had realized that I was carrying the train of $380,568. Such sums loom big in the imagination of a little boy; but they don’t amount to so much on the board of a university where you associate with the elder Morgan, who left seventy-eight millions, and with John S. Kennedy, banker of the Gould interests, who left sixty-five millions.
You might possibly think that our interlocking directors would be so busy with the task of managing our industries and our government that they would not have time to superintend our education; but that would be underestimating their diligence and foresight. They do the job and they do it personally, not trusting it to subordinates. In the office of the Teachers’ Union of New York I inspected a chart, dealing with the interlocking directorates of Columbia University; and except by the label, you could not tell it from the charts in the three volumes of the Pujo Reports. It is the same thing, and the men shown are the same men. They serve J. P Morgan and Company as directors in the coal trust, the steel trust, the railroad trust; they serve also on the boards of schools, colleges, and universities through the United States. You could not tell a chart of the Columbia trustees from a chart of the New York Central Railroad, or the Remington Arms Company. You could not tell a chart of Harvard University from a chart of Lee, Higginson and Company, the banking house of Boston. You could not tell a chart of the University of Pennsylvania from a chart of the United Gas Improvement Company. You could not tell a chart of the University of Pittsburgh from a chart of the United States Steel Corporation. You could not tell a chart of the University of California from one of the Hydro-Electric Power Trust, one of Denver University from the Colorado Fuel and Iron Company, one of the University of Montana from the Anaconda Copper Company, one of the University of Minnesota from the Ore Trust. These corporations are one, their interests are one, and their purposes are one.