"Lest you should fancy that the force of Storiot's statement of the economic situation in the United States during the last third of the nineteenth century owes anything to the rhetorical arrangement, I want to give you just a few hard, cold statistics as to the actual distribution of property during that period, showing the extent to which its ownership had been concentrated. Here is a volume made up of information on this subject based upon analyses of census reports, tax assessments, the files of probate courts, and other official documents. I will give you three sets of calculations, each prepared by a separate authority and based upon a distinct line of investigation, and all agreeing with a closeness which, considering the magnitude of the calculation, is astounding, and leaves no room to doubt the substantial accuracy of the conclusions. "From the first set of tables, which was prepared in 1893 by a census official from the returns of the United States census, we find it estimated that out of sixty-two billions of wealth in the country a group of millionaires and multimillionaires, representing three one-hundredths of one per cent of the population, owned twelve billions, or one fifth. Thirty-three billions of the rest was owned by a little less than nine per cent of the American people, being the rich and well-to-do class less than millionaires. That is, the millionaires, rich, and well-to-do, making altogether but nine per cent of the whole nation, owned forty-five billions of the total national valuation of sixty-two billions. The remaining ninety-one per cent of the whole nation, constituting the bulk of the people, were classed as the poor, and divided among themselves the remaining seventeen million dollars. "A second table, published in 1894 and based upon the surrogates' records of estates in the great State of New York, estimates that one per cent of the people, one one-hundredth of the nation, possessed over half, or fifty-five per cent, of its total wealth. It finds that a further fraction of the population, including the well-to-do, and amounting to eleven per cent, owned over thirty-two per cent of the total wealth, so that twelve per cent of the whole nation, including the very rich and the well-to-do, monopolized eighty-seven per cent of the total wealth of the country, leaving but thirteen per cent of that wealth to be shared among the remaining eighty-eight per cent of the nation. This eighty-eight per cent of the nation was subdivided into the poor and the very poor. The last, constituting fifty per cent out of the eighty-eight, or half the entire nation, had too little wealth to be estimated at all, apparently living a hand-to-mouth existence.