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
This being so, and disregarding the crooked ways of making profits, let
us then make up the complete summary of the preceding losses by the
United States people during the period from 1891 to 1897 inclusive, as
follows:
2d Table of the Concentration of Wealth.
----------------------------------+--------------------
Monopolies and Combinations. | Total Net Incomes.
----------------------------------+--------------------
The natural monopolies[155] | $ 4,255,826,950
Mortgagee monopolies[156] | 3,775,470,286
Owners of rentable houses[157] | 5,503,857,212
Monopolies of rentable lands[158] | 4,585,276,226
Owners of rentable offices, etc., |
in cities | 3,033,425,468
Manufacture and mechanical trades | 7,812,000,000
Mining monopolies | 560,000,000
----------------------------+--------------------
Grand total | $29,526,156,142
National and local taxes paid by |
them[159] | 3,455,963,952
+--------------------
THE TOTAL CONCENTRATION OF WEALTH | $26,070,192,190
|
The total increase of national |
wealth | 21,787,908,803
----------------------------------+--------------------
Excess of net incomes over and |
above the total increase of the |
national wealth | $ 4,282,283,387
----------------------------------+--------------------
The above table of the net incomes shows the conclusions that must
deeply astonish the thinking people. It shows that a “terrible change
has occurred in the conditions of life in America within fifteen or
twenty years.” But this concentration of wealth has taken place within
seven years, when the national expenditures for wars and the incomes of
monopolies and trusts started to increase. The latter obtained
$26,070,192,190.
Think of this total concentration of the wealth in seven years! It is
twenty-six thousand seventy millions of dollars’ worth of wealth. [SN:
TOTAL LOSS OF WEALTH.] While the total increase of the national wealth,
during the same time, only amounted to $21,787,908,803, which was
entirely concentrated in the hands of monopolies and combinations,
together with the additional concentration of yet another amount of
$4,282,283,387. This astonishing fact indicates that the _net income of
about one million families in the United States has been greater by
$4,282,283,387 than the total increase of the wealth collectively
produced by the nation_ during the period under consideration.
Public-domain text, read in full here on John Shaqi.
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