History of the Great American Fortunes, Vol. I: Conditions in Settlement and Colonial TimesMyers, Gustavus
History
History of the Great American Fortunes, Vol. I: Conditions in Settlement and Colonial Times
Myers, Gustavus
United States -- Economic conditions; Wealth -- United States
thefts of money and the franchise, tax-exemption, and other measures put
through the legislature or common council were men of wealth in the
background, who thereby immensely increased their riches and whose
descendants now possess towering fortunes and bear names of the highest
"respectability."[154]
The original money of the landholders came from trade; and then by a
combination of cunning, bribery, and a moiety of what was considered
legitimate investment, they became the owners of immense tracts of the
most valuable city land. The rentals from these were so great that
continuously more and more surplus wealth was heaped up. This surplus
wealth, in slight part, went to bribe representative bodies for special
laws giving them a variety of exclusive property, and another part was
used in buying stock in various enterprises the history of which reeked
with corruption.
From being mere landholders whose possessions were confined mainly to
city land, they became part owners of railroad, telegraph, express and
other lines reaching throughout the country. So did their holdings and
wealth-producing interests expand by a cumulative and ever-widening
process. The prisons were perennially filled with convicts, nearly all
of whom had committed some crime against property, and for so doing were
put in chains behind heavy bars, guarded by rifles and great stone
walls. But the men who robbed the community of its land and its
railroads (most of which latter were built with _public_ land and money)
and who defrauded it in a thousand ways, were, if not morally
exculpated, at least not molested, and were permitted to retain their
plunder, which, to them, was the all-important thing. This plunder, in
turn, became the basis for the foundation of an aristocracy which in
time built palaces, invented impressive pedigrees and crests and
coats-of-arms, intermarried with European titles, and either owned or
influenced newspapers and journals which taught the public how it should
think and how it should act. It is one thing to commit crimes against
property, and a vastly different thing to commit crimes _in behalf_ of
property. Such is the edict of a system inspired by the sway of
property.
RENTALS FROM DISEASE AND DEATH.
But the sources of the large rentals that flowed into the exchequers of
the landlords--what were they? Where did these rents, the volume of
which was so great that the surplus part of them went into other forms
of investments, come from? Who paid them and how did the tenants of
these mammoth landlords live?
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