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
They give no explanation of the fundamental laws and movements of the
present system, which have resulted in these vast fortunes; nor is there
the least glimmering of a scientific interpretation of a succession of
states and tendencies from which these men of great wealth have emerged.
With an entire absence of comprehension, they portray our
multimillionaires as a phenomenal group whose sudden rise to their
sinister and overshadowing position is a matter of wonder and surprise.
They do not seem to realize for a moment--what is clear to every real
student of economics--that the great fortunes are the natural, logical
outcome of a system based upon factors the inevitable result of which is
the utter despoilment of the many for the benefit of a few.
This being so, our plutocrats rank as nothing more or less than as so
many unavoidable creations of a set of processes which must imperatively
produce a certain set of results. These results we see in the
accelerated concentration of immense wealth running side by side with a
propertyless, expropriated and exploited multitude.
The dominant point of these denunciatory emanations, however, is that
certain of our men of great fortune have acquired their possessions by
dishonest methods. These men are singled out as especial creatures of
infamy. Their doings and sayings furnish material for many pages of
assault. Here, again, an utter lack of knowledge and perspective is
observable. For, while it is true that the methods employed by these
very rich men have been, and are, fraudulent, it is also true that they
are but the more conspicuous types of a whole class which, in varying
degrees, has used precisely the same methods, and the collective
fortunes and power of which have been derived from identically the same
sources.
In diagnosing an epidemic, it is not enough that we should be content
with the symptoms; wisdom and the protection of the community demand
that we should seek and eradicate the cause. Both wealth and poverty
spring from the same essential cause. Neither, then, should be
indiscriminately condemned as such; the all-important consideration is
to determine why they exist, and how such an absurd contrast can be
abolished.
In taking up a series of types of great fortunes, as I have done in this
work, my object has not been the current one of portraying them either
as remarkable successes or as unspeakable criminals. My purpose is to
present a sufficient number of examples as indicative of the whole
character of the vested class and of the methods which have been
employed. And in doing this, neither prejudice nor declamation has
entered. Such a presentation, I believe, cannot fail to be useful for
many reasons.
Public-domain text, read in full here on John Shaqi.
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