Read America's Trust for Free Online Page B

to set a trust fund up for the future. Mr. Morgan noticed a spendthrift attitude amongst successive governments that he believed would undermine America’s ability to build a strong and powerful nation. He asked a number of his wealthy friends and associates to contribute to a pot that would be held in trust for the future of the great country they were helping to build. Money that, long after they all had gone, could help build a nation they believed was the greatest the world would ever see.”
    Jack began to edge forward again in his seat. This was beginning to sound very interesting.
    “Mr. Morgan died less than a month later but secured the trust and its secrecy as a legacy for America’s future.
    Kenneth jumped in before Jack. “How much?” he asked.
    “Fifty million dollars,” announced Mr. Walker triumphantly.
    “We just spent that. And there you go, we just spent that again!” replied Kenneth, explaining to Mr. Walker how derisory a number fifty million really was.
    “Yes but that was fifty million in 1913,” he replied calmly. “We all know the task you face - an unparalleled deficit, an infrastructure that hasn’t been fit for purpose in seventy years. Power outages are commonplace, communication networks are third world, the transport system is crumbling around us…”
    “In short, the country’s a mess,” concluded Jack, fully understanding the scale of the problem he faced; he didn’t need to hear it all again.
    “Yes, Mr. President, and that’s exactly why Mr. Morgan set up the trust.”
    “One hundred years ago?” asked Kenneth, struggling to comprehend Morgan’s foresight.
    “Yes, Mr. Lee. Mr. Morgan noted a shift in people’s mentality, we had become a want rather than need society and he could see the impact this would have in future: spend now, worry later.”
    “I applaud his foresight but unfortunately, it’s such an underwhelming amount of money to deal with the problems.” As far as Jack was concerned, he had lots to be getting on with and fifty million bucks, as Kenneth had pointed out, wasn’t even a drop in the ocean.
    He made to rise, but Walker continued.
    “But, Mr. President I do not sit here with an underwhelming sum of money. In fact, very far from it.”
    Jack looked at Kenneth before taking his seat again. Mr. Walker’s demeanor had become extremely serious.
    “A billion?” asked Kenneth.
    “Not even close,” replied Walker.
    “One hundred billion?”
    “No. I’ll give you a clue. The trust had one edict - the money had to be invested at all times, never was it to sit and just earn bank interest. Mr. Morgan was very clear, the money had to work for the future.”
    “I don’t have time for games, Mr. Walker, I do have a country to run,” said Jack impatiently.
    “Perhaps not, Mr. President,” teased Walker.
    “Oh trust me, with a sixteen trillion dollar debt and as you so rightly pointed out, a crumbling infrastructure, never mind the increasing likelihood of a military involvement in the Middle East--”
    “What would you do with eight point five trillion?” interrupted Walker.
    “Are you saying that fifty million dollars in 1913 is now eight point five trillion?” asked Jack, certain he must have misheard Walker.
    “I never said that,” Walker replied and watched as President King’s excitement evaporated. “I asked what you would do with eight point five trillion?”
    “I must be missing something. You ask what we do with an amount of money and yet that is not the amount of money that you have?” asked Kenneth.
    “Correct, but I never said fifty million had become eight point five trillion, I merely asked what you would do with that sum,” said Walker smugly, pausing briefly before adding, “I asked what you would do with that sum, as that will be your surplus!”
    Two blank faces stared back at him.
    “Fifty million at an average of fourteen percent compound interest over one hundred years equates to approximately twenty-four and a