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
Let us see, then, what it is that the Nineteenth Century has stored up,
which is to result in such a terrific convulsion in the Twentieth
Century.
The following diagrams present the Logical Premises from which the
“revolution and bloodshed,” as a conclusion, must inevitably follow,
provided their action is not checked.
Distribution of Wealth in the United States.[5]
Population: 62,622,250. Wealth: $65,037,091,197.
Millionaires .03 } Millionaires 20 }
Rich 8.97 } .09 Rich 51 } .71
Middle 28 } Middle 20 }
Lower 11 } .91 Lower 04 } .29
Poor 52 } Poor 05 }
“These diagrams showing by percentages the population and wealth
distribution in the United States, according to tables compiled by
George K. Holmes, U. S. Census Expert on Mortgage Statistics, are from
the Encyclopedia of Social Reform.”
The contents of the above diagrams show on the bases of statistics that
in 1890 three hundredths of one per cent of the population, [SN:
PERCENTAGES OF WEALTH AND PEOPLE.] which are the millionaires, held 20
per cent of the nation’s wealth. Eight per cent and ninety-seven
hundredths of one per cent of the population, which are the rich, held
51 per cent of the wealth. The middle class, consisting of 28 per cent
of the population, held 20 per cent of the wealth. The lower class,
consisting of 11 per cent of the population, held 4 per cent of the
wealth. And the poor class, consisting of 52 per cent of the population,
held but 5 per cent of the national wealth,[6] as this table shows:
Table I.
+-----------+------------+-----------+----------------+--------------+
| | | | | Distribution |
|Percentages| Population |Percentages| Aggregates of | of wealth |
|of People. | in Groups. |of Wealth. | Wealth in | per head |
| | | | Dollars. | in Dollars. |
+-----------+------------+-----------+----------------+--------------+
| 00.03 | 18,786 | 20 | 13,007,418,274 | 691,867 |
| 08.97 | 5,617,172 | 51 | 33,168,916,461 | 59,041 |
| 28.00 | 17,534,216 | 20 | 13,007,418,253 | 741 |
| 11.00 | 6,888,432 | 4 | 2,601,483,644 | 377 |
| 52.00 | 32,563,644 | 5 | 3,251,854,565 | 99 |
+-----------+------------+-----------+----------------+--------------+
| 100.00 | 62,622,250 | 100 | 65,037,091,197 | 1,036 |
+-----------+------------+-----------+----------------+--------------+
Public-domain text, read in full here on John Shaqi.
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