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
This remarkable man lived to the age of eighty-one; when he died in 1863
in a splendid mansion which he had built in the heart of his vineyard,
his estate was valued at $15,000,000. He was the largest landowner in
Cincinnati, and one of the largest in the cities of the United States.
The value of the land that he bequeathed has increased continuously; in
the hands of his various descendants to-day it is many times more
valuable than the huge fortune which he left. Cincinnati, with its
population of 325,902,[168] pays incessant tribute in the form of a vast
rent roll to the scions of the man whose main occupation was to hold on
to the land he had got for almost nothing. Unlike the founder of the
fortune the present Longworth generation never strays from the set
formulas of respectability; it has intermarried with other rich
families: and Nicholas, a namesake and grandson of the original, and a
representative in Congress, married in circumstances of great and lavish
pomp a daughter of President Roosevelt, thus linking a large fortune,
based upon vested interests, with the ruling executive of the day and
strategically combining wealth with direct political power.
The same process of reaping gigantic fortunes from land went on in
every large city. In Chicago, with its phenomenally speedy growth of
population and its vast array of workers, immense fortunes were amassed
within an astonishingly short period. Here the growth of large private
fortunes was marked by much greater celerity than in the East, although
these fortunes are not as large as those based upon land in the Eastern
cities.
MARSHALL FIELD AND LEITER.
Public-domain text, read in full here on John Shaqi.
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