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
If an Austrian wine-producer or a farmer is six times less capable to
produce than an American farmer; and if this Austrian farmer [SN:
POVERTY IS IMPOSSIBLE.] can easily defray the multiple expenses of his
family and his own out of the results of his less capable labor and live
comfortably every year, the American farmer ought to have five times as
much of net profit from the results of his capable labor energy as the
Austrian farmer can spend every year for his living. So that, living in
the same way as the Austrian, the American farmer ought to be in six
years fully thirty times wealthier than an Austrian farmer of an
ordinary type.
How is it then that the wealth of the sturdy American farm tenant
consists on the average of but $360 per family of nearly five members
each; while an Austrian farmer is incomparably better off, being almost
always a propertied man?
And if seven American laborers are able to serve 1,000 persons with
bread and feed themselves every year, it is perfectly legitimate, then,
that every one of them should have a yearly profit of his labor, which
is equal to the value of bread, yearly consumed by nearly 143 men. And
this yearly profit must quickly make a considerable amount of wealth in
his store.
How is it then that the millions of American producers of bread, each
supplying hundreds of [SN: POVERTY EXISTS.] persons, are obliged to live
from hand to mouth, having neither property nor land, nor any other
wealth in store for their future? And if their productivity testifies
that they are able to feed and clothe the world, as Mr. Atkinson very
reasonably affirms, is it not highly important to find out who profits
by their remarkably efficient labor energy? Or, who yearly devours the
surplus of their products, leaving them in poverty?
Further, the work of one American miner, “for one year, divided between
the coal-mine, the iron-mine and the iron-furnace,” ultimately [SN: NO
ROOM FOR POVERTY.] “suffices for the supply of 500 persons” with the
metallic goods and utilities they consume in a year. “One operator in
the cotton factory can provide goods for 250, in the woolen factory for
300, in a boot or shoe factory for 1,000 men or more than 1,000
women”—one worker in any of these industries, in one year, can work out
the respective goods these numbers of consumers require for a year, thus
showing that the productivity of every operator is simply phenomenal.
Public-domain text, read in full here on John Shaqi.
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