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
Omitting the above trusts and combinations, because of the uncertainty
of their net earnings, we have positive means to find out the [SN:
OWNERS OF THE CENTRAL PARTS OF THE CITIES.] highest rentals of all
central parts of the cities and towns spoken of before. In estimating
the total income of the nation for the year 1890, Dr. Spahr found that
“the total income from house and office rents, as estimated in the text”
(his text) “is one-seventh of the total income of the non-agricultural
population.”[130] And the total income of the latter population was
$8,200,000,000,[131] one-seventh of which is equal to $1,171,428,571
3-7—apart from the agricultural land rents. This one-seventh, then, paid
seven times in seven years, amounted to the same $8,200,000,000, which
amount shows that the owners of the central parts of the cities and
towns obtained at least $3,033,425,468 rent from their properties.
It does not, however, make a difference whether we accept the whole
amount of rent estimated by Dr. Spahr or simply add the three billions
and over to our grand total, p. 150. In any way, these facts indicate
that the wealth has concentrated with the very families that were
enormously wealthy in 1890 and appeared to be much wealthier in 1897.
Yet the concentration of wealth is not only very rapid in drawing the
wealth of all the 11,190,152 families worth $5,000 and under[132] to
[SN: CONCENTRATION OF WEALTH IN HIGHER SPHERES.] a very few families of
the 4th group in the 2d table,[133] but it is also rapid among the
families worth $5,000 and over,[134] so that all are crushed by the
monopolies, the trusts and combinations. In order to illustrate it, I
here quote the same authority that estimated the increase of the wealth
from 1890 to 1897 before making a conclusion from the foregoing,
respecting industries, as follows:
“As to development of ‘the’ trusts before 1890,” Mr. G. B. Waldron says:
“Of the manufacturing and mechanical industries, whose statistics were
returned in the census [SN: TRUSTS IN INDUSTRIES.] of 1890, there are 43
whose manufactured product for the year 1889 was about $30,000,000,
whose capital averaged above $10,000 per establishment, and which
admitted of comparison with the census of 1880. Of these 43 industries
we have chosen 30 as especially illustrating the growing concentration
of capital during the 10 years from 1880 to 1890.
“It is a significant fact that while in 1880 these industries were
carried on by 84,708 establishments, or about 33 per cent of the total
number of manufacturing establishments of the country, the same
industries in 1890 were carried on by only 69,659 establishments, or
about 22 per cent of the total establishments, and fewer in number by
over 15,000 than in 1880.
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