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 when we look into the limits of towns and cities, we find millions
of rentable properties of all possible kinds; and every factory, [SN:
SOURCES OF INCOME.] every storehouse, every shop and every dwelling
house there is a sure source of income to the propertied man. The very
sweat-shops, where the working people can not, on an average, live
longer than 28 years—even these dens of poison and pestilence are
inexhaustible sources of income and profit to their owners.
As to the town and city lots, they are all sources of greater or less
income to the men who own them. Whether these lots of land are occupied
by [SN: SOURCES OF INDIRECT INCOME.] anything or are remaining waste,
makes little difference, because as the town population increases, their
values also increase in proportion as the city population and its
business increase; the owners of properties towards centers of the
cities are usually bound to be rich out of the resources of rent. Even a
simple house, somewhere about the marginal line of a city or town is
usually a source of indirect income to its owner, because he and his
family may have a comfortable shelter in it, without which they would
pay the rent for another’s house,[52] and would carry on all other
expenses of life, just as they do in their own house, in which they save
the rental money for some other purposes of living.
Now then, whatever property you may think of—whether natural or
artificial, whether animate or inanimate, that a person has possession
of—it is always wealth, and a source of income in his favor. [SN: WEALTH
CREATED BY LABOR.] The natural wealth is the land, wherever it may be in
convenient places, it may always provide one or more resources of income
in exchange for the application and expense of strength or skill of
labor upon it. The artificial wealth includes all capital, whatever it
may be, it is capital, if it can assist the labor energy to double,
triple or multiple the income and profit, drawn from the natural
resource to which the labor-strength is applied. The rentable house or
any other building is artificial wealth. And it is also a source of
income to its owner who, by a use of skill and by an application of
labor energy, can make his source of income give a multiple yield, in
return for the expense of his personal strength upon it.
Public-domain text, read in full here on John Shaqi.
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