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
The people cannot set this question at rest until they know the truth of
the different statistical tables, indicating the nation’s situation and
destiny. And we cannot rest until we make a series of propositions for
the purpose of producing more equal distribution of wealth in this
country. And even then we cannot rest, until our propositions be applied
to the irrational life of the nation, with the purpose of working out
justice for the people. When we see all this in their actual life, then
we shall rest, as the people shall be regaining their freedom, their
property, their resources of income, their rights to work and to enjoy
the fruits of their toil. The intelligent people cannot and must not
rest before they reach a resting place. They cannot always be deceived
by the shallow and selfish arguments which prove that the national
wealth increases enormously,—for it so increases only with the few and
rapidly decreases with the entire people. But the time will come when
the tens of millions will no longer vote for men who deprive them of all
rights, self-respect and liberty.
As we shall see later on, the 32,563,644 persons [SN: UTENSILS AS
WEALTH.] of the last group of the table I possessed no real wealth at
all even at the census in 1890. For though the diagrams represent them
as having had $99 worth of wealth to every head, yet this wealth was
personal and not productive.
STATISTICAL CONCLUSIONS OF MR. SHEARMAN.
“An estimate of the distribution of wealth in the United States was made
by Mr. Thomas G. Shearman [SN: RESEARCHES OF MR. SHEARMAN.] in the
‘Forum’ for 1889, and for January, 1891. It was based on careful
estimates of the wealth of the very wealthy, a list of which he gave,
and estimates of the division of the remaining wealth of the country
between the middle class and the poor based on assessors’ returns.”[10]
“Mr. Shearman came to the conclusion that 1.4 per cent of the population
own 70 per cent of the wealth; 9.2 per cent of the population own 12 per
cent of the wealth; and 89.4 per cent of the population own only 18 per
cent of the wealth.”[11]
In these conclusions, we have a still greater twist of facts by wrong
handling. Now, to illustrate these conclusions as they stand by another
set of diagrams, they will be as follows:
Population: 62,622,250. Wealth: $65,037,091,197.
The wealthy 1.4 The wealth
of the
wealthy .70
Independent 9.2 Independent .12
The poor and Dependent
dependent 89.4 and the poor .18
Conclusions of Unrestrained Averages of 1890.
Public-domain text, read in full here on John Shaqi.
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