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
Now, every one knows that whatever the wealth of a nation may be, it is
primarily derived from land which is the only inexhaustible source of
riches, or, of derived wealth. And when a person gets [SN: LAND PRIME
ORIGIN OF WEALTH.] into his possession a portion of land, whether it
will be in a city, town, or in the country, he then obtains a number of
resources for his life; he becomes a propertied man, and he can apply
his strength, his skill or his intellect upon his own property and thus
reap the fruits of his labor. The land then is the first store of
wealth; but it almost never yields anything to man, unless he labors,
works upon it, with a hoe, a plough, a scythe or some other implement
that aids him to draw greater returns from his land. Again, if iron, for
instance, is primarily derived from land, then [SN: LAND MAIN FACTOR OF
WEALTH.] when it comes to the forge, where the hammer, the anvil and the
other tools aid the blacksmith to make an ax out of the rough iron, the
ax will be of a greater value than the material he used for it. But what
really made the ax is his personal strength and the skill that were
aided by the tools he used. These tools with the blacksmith, and those
implements with the farmer are economically called [SN: SKILL SECOND
FACTOR OF WEALTH.] “capital,” because they aid to draw more wealth by
the labor of man. It follows, that land is the main factor of wealth;
that human energy or labor is the next factor of wealth; and that
capital, as aiding labor and land to produce more wealth than they can
yield without it, is the third factor of wealth. Money is not regarded
as direct capital here.
As _capital_ is a very important source of income to a propertied man,
and as it is perhaps not clearly understood by all, let me illustrate
this factor of wealth by introducing more examples of it.
Public-domain text, read in full here on John Shaqi.
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