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
About the year 1887 there developed an agitation in New York City
against the horrible conditions in tenement houses, and laws were
popularly demanded which would put a stop to them, or at least bring
some mitigation. The whole landlord class virulently combated this
agitation and these proposed laws. What happened next? Significantly
enough a municipal committee was appointed by the mayor to make an
inquiry into tenement conditions; and this committee was composed of
property owners. William Waldorf Astor was a conspicuous member of the
committee. The mockery of a man whose family owned miles of tenements
being chosen for a committee, the province of which was to find ways of
improving tenement conditions, was not lost on the public, and shouts of
derision went up. The working population was skeptical, and with reason,
of the good faith of this committee. Every act, beginning with the mild
and ineffective one of 1867, designed to remedy the appalling conditions
in tenement houses, had been stubbornly opposed by the landlords; and
even after these puerile measures had finally been passed, the landlords
had resisted their enforcement. Whether it was because of the bitter
criticisms levelled at him, or because he saw that it would be a good
time to dispose of his tenements as a money-making matter before further
laws were passed, is not clearly known. At any rate William Waldorf
Astor sold large batches of tenements.
AN EXALTED CAPITALIST.
To return, however, to William B. Astor. He was the owner, it was
reckoned in 1875, of more than seven hundred buildings and houses, not
to mention the many tracts of unimproved land that he held. His income
from these properties and from his many varied lines of investments was
stupendous. Every one knew that he, along with other landlords, derived
great revenues from indescribably malodorous tenements, unfit for human
habitation. Yet little can be discerned in the organs of public opinion,
or in the sermons or speeches of the day, which showed other than the
greatest deference for him and his kind. He was looked up to as a
foremost and highly exalted capitalist; no church disdained his
gifts;[157] far from it, these were eagerly solicited, and accepted
gratefully, and even with servility. None questioned the sources of his
wealth, certainly not one of those of his own class, all of whom more or
less used the same means and who extolled them as proper, both
traditionally and legally, and as in accordance with the "natural laws"
of society. No condemnation was visited on Astor or his fellow-landlords
for profiting from such ghastly harvests of disease and death. When
William B. Astor died in 1875, at the age of eighty-three, in his sombre
brownstone mansion at Thirty-fifth street and Fifth avenue, his funeral
was an event among the local aristocracy; the newspapers published the
most extravagant panegyrics and the estimated $100,000,000 which he left
Public-domain text, read in full here on John Shaqi.
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