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
But the first trouble about this table[34] is, that the author of it has
omitted $38,468,981[35] worth of wealth from the aggregate wealth of the
group 4, for the sake of roundness [SN: FIRST DIFFICULTY.] in the great
numbers, I suppose. Otherwise it is impossible to admit that the omitted
wealth did not belong to anyone in the United States at the time of his
making up the table. So that, restoring the $38,468,981 worth of wealth
to the 4th group, we find its aggregate amounting to $48,638,468,981
worth of wealth. And it thus begins to correspond with the great masses
of wealth owned by the first two groups in the 1st table, p. 28 or 29.
This omission cannot be regarded as a serious one; but, to reach a
definite conclusion, we must restore it.
The second trouble in the same table, p. 32, is, that the total of
families in it contains exactly 1,000,000 families more than the nation
consisted of in the year 1890. For there were 12,690,152 families in the
United [SN: SECOND DIFFICULTY.] States, whereas the second table
represents 13,690,152 of them, an absolutely round number having been
added to some group of the families. As this table has been published
since 1896, it may be that the author of it had a reason to add one
million families to the 1st group, because, as the population has
increased, so the families without property have also greatly increased
during the seven years since 1890. And he is undoubtedly right in his
calculations as to the growth of the propertyless. The statistics of
1890, also, represented an ample ground for similar calculations on the
part of anyone who has studied them.
The estimates of Mr. G. Holmes, however, do not warrant the conclusion
that there were 7,871,099 family-tenants of farms and homes in the
United States in 1890. For, whatever degree of moderation [SN: NOT SO
MANY TENANTS.] might be in his estimates, this number of the
propertyless families could not have existed at that time in the United
States. For, if so many propertyless families had been in existence ten
years ago, a thousand presidents at this time might lose their heads in
view of the national troubles that could result from that abnormal
situation of so vast an extent. The individuals that now howl about an
unusual prosperity might be the indirect butchers of human flesh before
they themselves are butchered. No, we drop out the surplus million
families from the 1st group of the 2d table, and the table will be more
correct as follows:
Public-domain text, read in full here on John Shaqi.
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