The impending crisis : $b conditions resulting from the concentration of wealth in the United StatesBouroff, Basil A.
History
The impending crisis : $b conditions resulting from the concentration of wealth in the United States
Bouroff, Basil A.
Trusts, Industrial; United States -- Economic conditions; Wealth
These diagrams indicate by percentages the exact conclusions of Mr.
Shearman in respect to the population and the wealth distribution in
this country. The author [SN: LOOSE AVERAGES.] of these conclusions
obviously put too much salt of his own into his averages; for, by
parceling out the wealth of a number of the well-to-do and rich people,
he succeeded in persuading his readers, that, in America, the body of
tens of millions of propertyless people, the paupers and the tramps, do
not possess, on an average, less than $200 worth of wealth for each
person, including women and children of all ages. Whereas, in reality,
the wealth from which he made the fictitious averages, belongs to a very
few persons of the nation. While an astonishing majority of the people,
as we shall see, have no rights whatever to this wealth.
Let us again illustrate the conclusions in a tabular way for the sake of
definiteness:
Table II.[12]
+------------+-------------+----------+------------------+------------+
| Percent. | Population | Percent. | Aggregates of | Wealth per |
| of | in economic | of | wealth per group | head |
| population.| groups. | wealth. | in dollars. | in dollars.|
+------------+-------------+----------+------------------+------------+
| 1.4 | 876,710 | 70 | 45,525,973,867 | 51,928 |
| 9.2 | 5,761,242 | 12 | 7,804,450,932 | 1,354 |
| 89.4 | 55,984,298 | 18 | 11,706,676,398 | 209 |
+------------+-------------+----------+------------------+------------+
| 100.00 | 62,622,250 | 100 | 65,037,091,197 | 1,036 |
+------------+-------------+----------+------------------+------------+
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