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
Furthermore, the landowner had an efficient and never-failing
auxiliary. He yoked society as a partner, but it was a partnership in
which the revenue went exclusively to the landowner. The principal
factor he depended upon was the work of collective humans in adding
greater and greater values to his land. Broadly speaking, his share
consisted in merely looking on; he had nothing to do except hold on to
his land. His sons, grandsons, his descendants down to remotest
posterity need do even less; they could leisurely hold on to their
inheritance, enlarge it, hire the necessary ability of superintendence
and vast and ever vaster riches would be theirs. Society worked
feverishly for the landowner. Every street laid and graded by the city;
every park plotted and every other public improvement; every child born
and every influx of immigrants; every factory, warehouse and dwelling
that went up;--all these and more agencies contributed toward the
abnormal swelling of his fortune.
A PROLIFIC BREEDER OF WEALTH.
Under such a system land was the one great auspicious, facile and
durable means of rolling up an overshadowing fortune. Its exclusive
possession struck at the very root of human necessity. At a pinch people
can do without trade or money, but land they must have, even if only to
lie down on and starve. The impoverish, jobless worker, with disaster
facing him, must first perforce give up his precious few coins to the
landlord and take chances on food and the remainder. Especially is land
in demand in a complicated industrial system which causes much of the
population to gravitate to centers where industries and trade are
concentrated and congest there.
A more formidable system for the foundation and amplification of lasting
fortunes has not existed. It is automatically self-perpetuating. And
that it is preeminently so is seen in the fact that the large shipping
fortunes of a century ago are now generally as completely forgotten as
the methods then used are obsolete. But the land has remained land; and
the fortunes then incubated have grown into mighty powers of great
national, and some of considerable international, importance.
Public-domain text, read in full here on John Shaqi.
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