Rutherford B. Hayes Quotes
No man, however benevolent, liberal, and wise, can use a large fortune so that it will do half as much good in the world as it would if it were divided into moderate sums and in the hands of workmen who had earned it by industry and frugality. The piling up of estates often does great and conspicuous good.... But no man does with accumulated wealth so much good as the same amount would do in many hands.
Hayes, Rutherford B. Diary and Letters of Rutherford Birchard Hayes, edited by Charles Richard Williams, vol. 4, Ohio State Archaeological and Historical Society, 1925, p. 274.
The text in bold is most commonly citied part of this quote.
Rutherford Birchard Hayes was an American politician and attorney who served as the 19th president of the United States from 1877 to 1881, after serving in the U.S. House of Representatives and as governor of Ohio. A lawyer and staunch abolitionist, he had defended refugee slaves in court proceedings during the antebellum years. He negotiated the political agreement to end federal support of Reconstruction.