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
---------------------+--------------+------------------+------------
Economic classes of | Number | Aggregates of | Average
families. | of families. | wealth per class | wealth per
| | in dollars. | family.
---------------------+--------------+------------------+------------
The wealthy classes, | | |
$50,000 and over | 126,750 | 33,000,000,000 | 260,355
| | |
The well-to-do | | |
classes, $50,000 | | |
to $5,000 | 1,394,250 | 22,676,863,197 | 16,264
| | |
The middle classes, | | |
$5,000 to $500 | 5,584,576 | 8,522,541,600 | 1,526
| | |
The poorer classes, | | |
under $500 | 5,584,576 | 837,686,400 | 150
---------------------+--------------+------------------+------------
Totals | 12,690,152 | 65,037,091,197 | 5,125
---------------------+--------------+------------------+------------
Now, this restoring has been made up by borrowing $323,136,803 from the
wealth found in the 2d group; and again by adding $37,091,197 worth of
wealth which was omitted in the round numbers of the total aggregate of
wealth. These two amounts, consisting of $360,228,000 in the restored
table, have on the basis of the original averages been distributed among
the families of the 3d and the 4th groups. So that the 3d group of
families appears to be richer by $322,541,600; while the 4th group by
$37,686,400; and the 2d group appears to be poorer by $323,136,803 worth
of wealth. Hence, we have made the 1st R. table represent the
distribution of wealth by $360,228,000 more equal than the author of the
original table has actually found it to exist.[31]
On the other hand, in restoring the numbers of family-members to the
census average of 4.93, we [SN: FAMILIES MADE EQUAL TO CENSUS.] add
about 7 members to every 100 families of five members each, as Dr. Spahr
represents them. This addition of 190,152 families to the whole renders
the average-family and the total number of families in the United States
exactly as they were given by the census in 1890.
Public-domain text, read in full here on John Shaqi.
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