THE PERILS OE GAMBLING.

Gisborne Times, Volume XXXIII, Issue 3669, 2 November 1912, Page 4

THE PERILS OE GAMBLING.

a: x interesting will. The will of Sir Edward Sassoon, probate of which has been granted, is noteworthy for the instructions which h? leaves to his children and an expression of condemnation of the death duties. As stated in the “Express,’’ the total value of the property is £l,013,000. but, according to the figures of the English grant of probate, the estate is sworn as of the gross value <’f £755 .-853 Ids 2d, of which the not personality amounts to £653,251 12s id. The duties total £162.000, of which, it is stated, the estate duty paid amounts to £132,277. . With regard to death duties, Sir Edward Sassoon wrote:—“l desire to state that I have made no bequests for ciiaritable purposes, first, because I give and intend to give during ray life according to my means, and, secmid. as a protest against what is, in my view, the impolitic and prohibitive legacy duty proscribed by law on charitable legacies. “Any impost that tends to discourage charitable bequests, especially in a country like Great Britain, where healing agencies altogether depend on voluntary contributions, must, in my humble opinion, lie radically unsound.” He impressed on his children “the necessity oi avoiding all extravagance or gambling, and I earnestly hope that they will devote some part of their time and money to objects of benevolence.” He impressed on bis son the desirability of attending to the interests of the business of David Sassoon and Co., _ “so that its reputation and standing so laboriously built up by' my ancestors for close on a century may not lie tarnished or impaired by the possible neglect or mismanagement of outsiders.”

_jETe expressed the •wish that liis sen will “maintain some connection with my parliamentary constituency of Hythe, with which for nearly twelve years past I nave had such pleasant relations.”

It is interesting to note that Sir Philip Sassoon succeeded his father ns -u.P. for Hythe. Sir Edward Sassoon added : ”1 enjoin on my said son and daughter in the strongest possible manner, my desire and hope that they will, until one or the other of them marries, live together and thus cherish the memory of their late mother, this being i;er wish as well as mv own.”

Sir Edward directed that his body be cremated, and added : “I strictly enjoin on my executors that under no circumstances is tho coffin with the ashes to be buried.” Among Sir Edward’s bequests is one of £3OOO and a substantial souvenir to Hannah David Gnbbay, “in grateful remembrance of her affectionate caro of and devotion to me in my severe trial and snfferimr/’

The residue of his property he leaves as to three-fourths on trust to pav to his son Philip £12,000 a year until ho shall attain the age of thirty, and to accumulate the balance of the income and transfer the capital and .accumulations of income to his said son, absolutely, on attaining the age of thirty and as to one-fourth on trust to pay to his daughter an annuity of £OOOO.