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
Besides these certain facts, the highest rentals derived from the
offices, hotels, and other rentable properties found in the central
parts of the cities above and below 100,000 population are to be
ascertained. And no one will doubt that the comparatively very few
owners of these city-centers must have collectively drawn a greater
amount of the net incomes from rent, than can be expressed by three
billion dollars’ worth of wealth, derived without work by the few owners
of the most valuable parts, especially of the 28 cities far above
100,000 population.
Further, we have not treated the net earnings of the companies and
combinations filling up the large storehouses of the wholesale and
retail business in the same great cities, which distribute the
industrial products of the people, for consumption at home and abroad.
And while the distribution of these products is carried on by cheap
laborers, we have not represented here the few monopolists that grow
into multi-millionaires behind the busy work of the distribution. The
net incomes of these will be included into the incomes of the
Manufacture and Mechanical Trades hereafter.
But further still, we entirely omit the indication of the net earnings
of “the meat companies” in the large cities, like those of the Chicago
stockyards, “the cattle companies, [SN: THE TRUSTS’ NET INCOMES
OMITTED.] uniting more than $100,000,000; combinations of the millions,
invested in the elevators of the Northwest against the wheat-growers; in
whiskey and beer about $100,000,000; in sugar, $75,000,000; in leather
over $100,000,000 (1894). The trust of piano-makers was to have a
capital of $50,000,000, and there is the Cordage Trust that gets from 40
to 50 per cent on its capital; the Cotton Seed Oil Trust and Lard Trust”
and others.[129]
Finally, we have not treated the earnings of some other well-known
monopolies, trusts and combinations, which have, as all the others, been
established with no other purpose or end in view than to draw from the
productive people all they can for themselves by means of speculation.
For, drawing wealth by combined speculation is the easiest thing in the
world for those who were enabled to make its beginning.
Public-domain text, read in full here on John Shaqi.
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