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
Finally, as long as the concentration of wealth in the private
monopolies, trusts and combinations not only absorbs all the yearly
increase of wealth produced by the nation, but absorbs the wealth
formerly [SN: IT IS A QUESTION OF TIME ONLY.] owned by the people, it
does not make a difference whether these combinations raise or lower the
high prices of utilities which they speculate in upon the market, the
whole wealth and the entire rights for wealth must sooner or later be
concentrated in the hands of a very few families, because all the means
of concentration are within their hands. Consequently, it is not a
question whether these all pervading combinations are beneficent or
malificent in their character, as in either case they work out the same
evil result. But the question is only a question of time: how long
before the people with all their superior productivity and phenomenal
increase of wealth will have neither wealth nor property, nor rights,
nor sufficient means for existence? How long before they all shall in
all details be absolutely dependent upon the very few speculators, whose
unbounded fortunes the tens of millions of workers are constantly
compelled to increase? See Appendix II.
Again, this concentration of wealth can neither be hindered by raising
the prices of the raw materials and products, nor even by the [SN:
REFORM IS NECESSARY.] raising of wages, nor by lowering the prices of
consumable utilities, nor by lowering the present rents, because the
rate of concentration of wealth now surpasses all degrees of change
which may be effected by such regulation, while the net profits from the
nation’s energy and labor are ultimately derived only by the few, who
are becoming fewer.
The millions of individuals must therefore free themselves from the
delusive hopes of some day becoming rich; for the strong tendency, as we
have seen, is to deprive [SN: VAIN HOPES OF THE PEOPLE.] every one of
his proper food and of the satisfaction of other increasing needs. In
order to become free from the economic bondage and slavery of
dividogenesure, it is necessary that the distribution of wealth should
be made to bring about more equal results, and that the present means of
the concentration of wealth should work in favor of all the people
engaged in the numerous spheres of human activity. See Appendix III.
And it is again to be hoped that the present parents in the United
States would in nowise hesitate to provide some better conditions of
life for their children in the far and near future.
APPENDIX.
I.
Percentages and numbers of families in the United States in 1890, under
owned and rented homes and farms, were represented by Dr. C. B. Spahr as
follows:
[Families Identified with Farms and Homes.]
Public-domain text, read in full here on John Shaqi.
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