_Amount_ (000,000 _Per Cent_ _Wealth Groups_ _Omitted_) _of Total_ 1. Real Property (land and buildings) $110,676 59 2. Public Utilities (railroads, street railways, telegraph, telephone, electric light, etc.) 26,415 14 3. Live Stock and Machinery (live stock, farm implements and manufacturing machinery) 13,697 7 4. Raw Materials, Manufactured Products, Merchandise (including gold and silver bullion) 24,193 13 5. Personal Possessions (clothing, personal adornments, furniture, carriages, etc.) 12,758 7 Total of all groups $187,739 100 The bulk of the exchangeable wealth of the United States consists of "productive" or "investment" property. If, to the total of 110 billions given by the Census as the value of real property, are added the real property values of the public utilities, the total will probably exceed three quarters of the total wealth of the United States. If, in addition, account is taken of the fact that much of the wealth classed as "raw materials, etc.," is the immediate product of the land (coal, ore, timber), some idea may be obtained of the extent to which the estimated wealth of the country is in the form of land, its immediate products, and buildings. Furthermore, it must be remembered that great quantities of ore lands, timber lands, waterpower sites, etc., are assessed at only a fraction of their total present value. The personal property of the country is valued at less than one fourteenth of the total wealth. It is in reality a negligible item, as compared with the value of the real property, of the public utilities, and of the raw materials and products of industry. The wealth of the United States is in permanent form--land and improvements; personal possessions are a mere incident in the total. In truth, American wealth is in the main productive (business) wealth, designed for the further production of goods, rather than for the satisfaction of human wants. 3. _Ownership and Control_