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
It would also be groundless to think that the years 1898 and 1899 have
altered the firmly established [SN: THE YEARS AFTER 1897.] machinery of
concentration of the national wealth. No, the concentration of wealth in
these two years has undoubtedly been more rapid than in any two previous
years. For the trusts, etc., have been more active, and have obtained
greater net incomes on account of the war than in any two years before.
While in addition to the [SN: THE TAXES INCREASED.] more rapid
concentration of wealth by the combines, the war revenue caused a great
increase in the rates of the indirect taxes, etc. And since “these taxes
were imposed by Congress, under the Revenue Act approved June 13, 1898,”
both the propertied and the propertyless people continue to pay them up
to date as a drain additional to the other losses in favor of the
wealthy few.
It should also be remembered that, remaining unabated, the more rapid
concentration of wealth [SN: INCREASE OF THE CONCENTRATION OF WEALTH AND
RIGHTS.] and of property rights to-day, produces a still more rapid
concentration of wealth and of rights to-morrow, because increased and
concentrated wealth consolidates into interest-bearing property—the rate
of interest being derived from the growing population which by hunger,
thirst, and other forces is compelled to work for the mighty few. And
what will be the consequence?
According to Mr. J. K. Upton, special agent of the Eleventh Census, “the
estimated increase of wealth from 1880 to 1890 was 49 per cent. A
proportionate increase from 1890 to 1900 would indicate wealth of nearly
$100,000,000,000 at the beginning of the twentieth century,”[174] say,
at the end of 1901. And if the present situation continue, it will not
be difficult to guess the time when nearly the whole nation would
consist of desperate slaves of dividogenesure, and of about 1,000,000
masters distributing places of employment at will—in accordance with the
highest efficiency and profitableness of the employed—for the cheapest
remuneration favorable to a few multimillionaires.
As exposed in this work, the situation precludes the entertaining of any
better view, however desirable it may be. For the following estimates of
the increase of the people prove that the situation has even been worse
than here represented.
“PRESENT POPULATION OF THE
UNITED STATES.”
“According to estimates made for the World Almanac by the governors of
the States and Territories for 1900,”[175] exclusive of Alaska and the
Indian Territory, the “grand total, January 1, 1900, is 79,354,444
individuals.”
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