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Story
April 21, 1916
The Caldwell Tribune
Caldwell, Canyon County, Idaho
What is this article about?
Everett H. Barney bequeaths $600,000 estate to Springfield, Mass., for civic center expansion. Editorial praises rarity of such civic gifts and critiques perpetual foundations versus municipal use.
Clipping
OCR Quality
95%
Excellent
Full Text
CITY RECEIVES LEGACY.
Everett H. Barney, when he died, left nearly all his estate of about $600,000 to the city of Springfield, Mass. The annual income amounting to between thirty and forty thousand dollars, is to be applied to the civic center of the city, in the purchase of adjacent lands and the extension of the municipal group of buildings.
Such disposal of an estate is rare. It would seem to be an ideal way in which to show appreciation; perpetuate the name; and accomplish the common good. The city unquestionably made the accumulation of the fortune possible. After its use through life nothing is more fitting than that it be returned to the municipality.
The ultimate disposition of great estates is becoming a serious problem and may become a great menace. Foundations in perpetuity are not ideal ways in which to handle the great accumulations of wealth. These foundations may become a serious menace to the people, unless rigidly safeguarded and circumscribed by laws. The placing of immense wealth by inheritance in the hands of individuals has the redeeming feature that usually in a couple of generations this wealth is dissipated.
The city always has use for money and can spend or conserve it without danger or injury to the general public. There is little likelihood that any one city will thus become inflated with easily gained wealth.
Everett H. Barney, when he died, left nearly all his estate of about $600,000 to the city of Springfield, Mass. The annual income amounting to between thirty and forty thousand dollars, is to be applied to the civic center of the city, in the purchase of adjacent lands and the extension of the municipal group of buildings.
Such disposal of an estate is rare. It would seem to be an ideal way in which to show appreciation; perpetuate the name; and accomplish the common good. The city unquestionably made the accumulation of the fortune possible. After its use through life nothing is more fitting than that it be returned to the municipality.
The ultimate disposition of great estates is becoming a serious problem and may become a great menace. Foundations in perpetuity are not ideal ways in which to handle the great accumulations of wealth. These foundations may become a serious menace to the people, unless rigidly safeguarded and circumscribed by laws. The placing of immense wealth by inheritance in the hands of individuals has the redeeming feature that usually in a couple of generations this wealth is dissipated.
The city always has use for money and can spend or conserve it without danger or injury to the general public. There is little likelihood that any one city will thus become inflated with easily gained wealth.
What sub-type of article is it?
Curiosity
Historical Event
What themes does it cover?
Moral Virtue
Fortune Reversal
What keywords are associated?
Legacy
Bequest
Springfield
Civic Center
Estate
Foundations
What entities or persons were involved?
Everett H. Barney
Where did it happen?
Springfield, Mass.
Story Details
Key Persons
Everett H. Barney
Location
Springfield, Mass.
Story Details
Everett H. Barney left nearly all his $600,000 estate to Springfield, Mass., for the civic center, including purchase of lands and extension of municipal buildings. The disposal is rare and ideal for appreciation, perpetuating the name, and common good. Commentary on problems with great estates, foundations as potential menaces, and benefits of returning wealth to the city.