An Accounting by a Man of Means

For 2 1/2 days last week, Nelson Rockefeller testified before the Senate Rules Committee in order to nail down a job that he had long insisted he would never take. In so doing, Rockefeller, 66, had to answer questions about his personal fortune that he has brushed aside throughout his 34 eventful years in public life. More than any man in the room, Rockefeller seemed to appreciate the irony of his situation. The descendant of robber barons cum philanthropists cum public servants, he wears the mantle of his heritage with easy grace, and he handled the Senators so adroitly that what could have been an ordeal turned out to be a triumph. When the former Governor of New York stepped down, the committee was clearly ready to approve his nomination as the next Vice President of the U.S.

No Commitment. During his testimony, Rockefeller found himself asked to judge the actions of both Richard Nixon and Gerald Ford. He declared that Nixon's acceptance of his pardon was "tantamount to admitting guilt." While he called the pardon "an act of conscience, compassion and courage," Rockefeller said that his "total inclination" was not to grant a similar pardon if he should ever have to sit in judgment on Jerry Ford. Yet Rockefeller refused to say that he would never grant a pardon under any circumstances.

Questioned closely about how he would use Executive privilege, Rockefeller said that he would be inclined to oppose a President's refusing to let his aides testify on the Hill on nonsecurity matters. But again, he prudently declined to commit himself in advance. He explained, "If Congress decided to abuse this--the other side of the coin--it could make the management of the Government virtually impossible."

Responding to the Senators, Rockefeller carefully disengaged himself from Spiro Agnew, saying that he had refused a request by the former Vice President to help arrange financing for his novel about political life in Washington. He also noted that John Ehrlichman, the former domestic affairs adviser to Nixon, had written twice to ask for money for his legal expenses. "From a human point of view," Rockefeller testified, "I'm embarrassed to say I didn't answer the letters."

All very interesting, but Rockefeller's money, his clout and the relationship between the two were naturally the Senators' main concerns. The witness anticipated them by passing out mimeographed copies of a 72-page statement he had written himself. The subheadings of the statement had a quaint 19th century flavor: "Origin of the Family Ethic," "Grandfather's Early Years," "Influence of My Mother."

Rockefeller related how John D. Rockefeller Sr., his grandfather, helped found the forerunner of Standard Oil while still in his 20s and, believing that "Providence had made him a trustee of his fortune for the benefit of man," gave $550 million for philanthropy during his lifetime. The patriarch's only son, John D. Rockefeller Jr., slightly surpassed that figure, spending $552 million for good works.

Nelson noted in his statement that he "grew up in a closely knit, religious family, involved in human concerns, influenced by cultural forces, and inspired by father's credo that 'every right implies a responsibility; every opportunity an obligation; every possession a duty.' "

Awe and Worry. In his lifetime, Rockefeller estimated, he has given away $33 million, has promised to do nate another $20.5 million in art and real estate and has paid $69 million in federal, state and local taxes. Explaining with some embarrassment why he had paid no federal income tax in 1970, Rockefeller said that changes in his trusts' portfolio happened to reduce his income that year below normal levels. If he had realized this at the time, said Rockefeller, he would have cut his contributions to charity ($1.2 million) and thus made himself liable to federal in come tax. He did, however, pay $814,701 in other federal, state and local taxes in that year. Rockefeller put his net worth at $62.6 million and said that he receives the income from two trusts valued at $116.5 million (see chart).

Large as it was, the amount was only part of the holdings of the entire Rocke feller family. Nelson Rockefeller's six children get the earnings from trusts worth $35.7 million, and his wife Happy from a trust valued at $3.8 million. Then there are the holdings and trusts benefitting Rockefeller's sister Abby, his three surviving brothers, Laurance, Da vid and John D. Ill, and the heirs of his fourth brother Winthrop, the former Governor of Arkansas, who died in early 1973. No outsider really knows, but according to some estimates, the personal holdings and trusts of the Rockefellers may total as much as $1.3 billion.

This fortune both awed and worried some Senators. They were not altogether reassured by Rockefeller's promise to put his personal securities and holdings into "blind trusts" that would prevent his knowing which securities he owned at any one time. Nor were the Senators convinced by Rockefeller's protestations that accounts of his economic influence were a "myth." The witness pointed out that the Rockefellers own no more than 2.06% of any oil company and a scant 2.54% of the so-called family bank, the Chase Manhattan, 3rd largest in the world (its chairman: David Rockefeller). Rocky insisted that he had so little pull at Chase that he had to borrow money at 12% interest. "I've got to tell you," said Rockefeller in his husky voice, "I don't wield economic power."

Wanton Massacre. For all its earnestness, it was a rather disingenuous statement. The Rockefeller economic power is measured not only in stockholdings but also in terms of contacts, prestige and ability to raise capital. Nor did the witness point out that his family has contributed an estimated $25 million to his various political campaigns.

The Senator who was most irritated by Rockefeller's claim of powerlessness was West Virginia Democrat Robert C. Byrd, who grew up in an impoverished mining town during the Depression. "Can't we at least agree," Byrd demanded, "that the influence is there, that it is a tremendous influence, that it is more influence than any President or Vice President ever had?"

"Could I get you to add the word 'potential' influence?" Rockefeller asked.

"Very well, very well," said the exasperated Senator.

"Because..."

"Mr. Rockefeller," Byrd broke in, "you can answer my question with one word, yes or no, and I'll be satisfied. Can you separate the interests of big business from the national interest when they differ?"

"Yes, sir," Rockefeller boomed. "No problem."

After Rockefeller was excused, 22 witnesses got their chance to air their views on his nomination. Chief among them was Angela Davis, the black radical, who attacked Rockefeller for having permitted "one of the most wanton massacres in the history of the United States" at New York's Attica prison in 1971 during a revolt in which 32 prisoners and eleven hostages died. Rockefeller had told the Senators that while he deeply regretted the bloodshed, he still felt justified in having sent in the police to try to rescue the hostages. Said Rocky: "I do not believe in negotiating with people who are holding hostages on threat of death."*

After the hearings, the committee seemed sure to endorse Rockefeller, unless a review of his tax returns now being conducted by the Internal Revenue Service raises awkward questions. Because the Senate will recess in mid-October for the upcoming elections, Chairman Howard W. Cannon does not expect the committee to vote on Rockefeller until November. The House Judiciary Committee will probably conduct its hearings after the elections, which will prevent Rocky from campaigning for fellow Republicans. Then, presumably before year's end, both the House and the Senate will vote on the confirmation of Nelson Rockefeller as the 41st Vice President of the U.S.

*The trials of 58 Attica prisoners who allegedly took part in the uprising began last week in Buffalo. There are nearly 1,400 charges, ranging from sodomy to murder. No guards or policemen have been indicted.

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