Our revenue laws have operated in many ways to the unfair advantage of the few, and they have done little to prevent an unjust concentration of wealth and economic power.

Save your wealth against future calamity. Do not say, "what fear has a rich man of calamity?" Wealth sometimes vanishes away and large accumulations perish.

We have pushed taxation of wealth to a point in Great Britain where in many cases the yield would be greater if the rate were less. The idea that prosperity can be wooed by chasing millionaires is one of the most common and most foolish of modern popular delusions.

From his understanding of wealth and poverty came his understanding of labor and capital, which led him to the solution of trusteeship based on the belief that there is no private ownership of capital; it is given in trust for redistribution and equalization. Similarly, while recognizing differential aptitudes and talents, he holds that these are gifts from God to be used for the collective good.

The desire to provide security for oneself and one's family is natural and wholesome, but it is adequately served by a reasonable inheritance.

In spite of the great importance in our national life of the efforts and ingenuity of unusual individuals, the people in the mass have inevitably helped to make large fortunes possible.