negie
himself retired from business, he was bought out at a figure equivalent
to a capital of approximately L100,000,000.

From this time forward public attention was turned from the shrewd
business capacity which had enabled him to accumulate such a fortune to
the public-spirited way in which he devoted himself to utilizing it on
philanthropic objects. His views on social subjects, and the
responsibilities which great wealth involved, were already known in a
book entitled _Triumphant Democracy_, published in 1886, and in his
_Gospel of Wealth_ (1900). He acquired Skibo Castle, in Sutherlandshire,
Scotland, and made his home partly there and partly in New York; and he
devoted his life to the work of providing the capital for purposes of
public interest, and social and educational advancement. Among these the
provision of public libraries in the United States and United Kingdom
(and similarly in other English-speaking countries) was especially
prominent, and "Carnegie libraries" gradually sprang up on all sides,
his method being to build and equip, but only on condition that the
local authority provided site and maintenance, and thus to secure local
interest and responsibility. By the end of 1908 he had distributed over
L10,000,000 for founding libraries alone. He gave L2,000,000 in 1901 to
start the Carnegie Institute at Pittsburg, and the same amount (1902) to
found the Carnegie Institution at Washington, and in both of these, and
other, cases he added later to the original endowment. In Scotland he
gave L2,000,000 in 1901 to establish a trust for providing funds for
assisting education at the Scottish universities, a benefaction which
resulted in his being elected lord rector of St Andrews University. He
was a large benefactor of the Tuskegee Institute under Booker Washington
for negro education. He also established large pension funds--in 1901
for his former employes at Homestead, and in 1905 for American college
professors. His benefactions in the shape of buildings and endowments
for education and research are too numerous for detailed enumeration,
and are noted in this work under the headings of the various localities.
But mention must also be made of his founding of Carnegie Hero Fund
commissions, in America (1904) and in the United Kingdom (1908), for the
recognition of deeds of heroism; his contribution of L500,000 in 1903
for the erection of a Temple of Peace at The Hague, and of L150,000 for
a Pan-American Pa