Betsy Gaskins (Dimicrat), Wife of Jobe Gaskins (Republican): Or, Uncle Tom's Cabin Up to DateHood, W. I. (William I.)
General
Betsy Gaskins (Dimicrat), Wife of Jobe Gaskins (Republican): Or, Uncle Tom's Cabin Up to Date
Hood, W. I. (William I.)
Gold; Interest; Money; Paper money -- United States; Populism
In this country we have abolished the law of primogeniture, by which the
eldest son inherited the landed estate of his ancestor, but here vast
estates are being rapidly accumulated in few hands, and this is
especially true during and since the War of the Rebellion. In 1860 there
were few millionaires and few large fortunes in this country, but since
then a rich class has sprung up, so that in 1890, according to reliable
statistics, ten per cent. of the people own as much wealth as the other
ninety per cent. In 1890 there were 12,690,182 families in the United
States, and according to George K. Holmes, in the _Political Science
Quarterly_, 4,047 of these possessed about seven-tenths as much as do
11,593,887 families. Just think of it. One family possessing the wealth
of 2,000 families the country over! In the city of New York alone there
are said to be five men whose aggregate wealth exceeds $500,000,000. How
many hundred millions are held by various wealthy corporations, coal and
oil syndicates and other trusts, I am unable to state. In the cities of
New York and Chicago hundreds of thousands of men and women, willing to
work, were out of employment last winter, many of whom must have
perished from want but for charity’s aid. These conditions another
winter promise to be no better.
The richest corporations and persons on earth are probably in the United
States. How have they accumulated their vast fortunes? Surely not by
their own industry and thrift, but by the aid of statutes regulating the
rights of property, generally statutes providing for the transmission of
property by descent or by will, or the creation of monopolies.
It is only by virtue of statutory law that man is permitted to make
disposition of his property by will, and it is only by virtue of
statutory law that one person is permitted to inherit property from
another, and it is by virtue of statute law that great corporate
monopolies have been built up.
No man has a natural right to dispose of property after death, nor has
one person a natural right to inherit property from another. As
Blackstone says: “There is no foundation in nature or in natural law why
the son should have the right to exclude his fellow creatures from a
determinate spot of land because his father did so before him, or why
the occupier of a particular field or of a jewel, when lying on his
death-bed, and no longer able to maintain possession, should be able to
tell the rest of the world which of them should enjoy it after him.”
Public-domain text, read in full here on John Shaqi.
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