Daily union and American. [volume] (Nashville, Tenn.) 1865-1866, 1866-01-21
ssmethins about wealth and wc.ssh,
MEN,
New York cor. Of the s.. Iouis Rspssliesn.l

/
New York cor. of the 81. Louis Repablican.l
WEALTH OF EUROPE AND AMERICA.
The vast wealth Of some Of our million,
aires is really astonishing and must excite
sense Of despair in those who have beer
modestly toiiing along with few hundred
or thousands Of dollars. The acquisition o
wealth Is said TO be phenomenon of on,
age and place, but a. rnie il Is supposed
we have no such colossal fortunes as some OF
the European countries, and bv 4 blessed
dispensation we are in no danger Of perpet-
uating them in the same families. The rule
u, what one generation heaps MP the next
squanders, and vice versa. In foreign conn.,
tries the bankers are generally the greatest
accumuIators Of wealth. consisting In great
part Of Jews and their like, who become a
kind OF respectable pawnbrokers, in lending
money at large interest 10 needy p0tcntases.
and at critical times, whereby they acquire
vast political power The Rethschild
family Is supposed to be worth between one
hundred and fifty and two hundred millions
OF dollars. Banking is VIGOROUSLY a prof.
table business in this country, but AZ our
Government has borrowed but little ill
lately, and that from the people il is spared
THIS usurious drain to amass huge individual
fortunes. There is in the United States a
more equitable distribution Of wealth than
in Europe ; the average wealth for capital
Is also greater than in any country except
Holland, that Of Great Britain with her
pauper millions being little less than our
own someof her private revenues amounts
ing to ten million dollars year, while three
hundred thousand Of her people are in the
SOME COLOSSAL PRIVATE FORTUNES.
Although not generally known, We have
AZ least one individual whose possessions and
whose annual income bears no mean COM
parlson to the best of the Europeans. Alex
ander T. Stewart, Scotchman, who came 10
New York in 1925 as young man, with
s., $50 IN his pocket, and who straighfway
commenced peddIing hosiery and SMALL
wares, selling laces by sample. and soon after
renting little hole Of q shop In Maiden
Lane, is at this moment BY far the richest
man on the continent. The value of his
real estate is between fifty and sixty millions
Of dollars, and his total possessions cannot
be less than one hundred and twenty millions
Of dollars, upon which he does not owe
dollar. His income from real property is
between FIVE and six millions, and the net
profits Of his business are ten millions annu-
ally. He does the largest drv goods trade
in America, il net In the world, his business
this year amounting to hundred aud ten
while that Of his nearest COMPETE
tor, @. B. Clafin & Co, Is seventy-five mil
lions. M a @
Stewart is long-headed, hard-fsted. selfish
trader. He has no scruples of honor about
breaking down weaker competitor. which
be can dc without legal penalty. His for
tune Is the result of very close application
10 business, sticking right 10 the line OF his
own commerce, and isa relentless competitor
with all rivals BY his great moneyed cap
tai he can and has broken up thousands of
and less afluent men. He does a
:ash business, buying and selling for cash.
He has, however, been largely assisted BY.
Is he has nourished and catered to tie van
ty of American women, with whom, il is
jocularly said, he is in conspiracy
o ruin their husbands. He has ransacked
he markets Of the world for the rarest and |
most. costly goods, and has made his store the |
Emporium of the continent Yet this man,
With all his vast wealth. is far from being
comfortable
&. THE APPLICATIONS OF WEALTH
One of the richest men in all the world is
,ne Of the most miserable. There Is an ex-
nipple here in New York Of prominent
business man who is continually driven by
ais affairs 50 that he cannot take even one
lay out OF seven for rest, and not one in a
rear for recreation. lie never or rarely in |
rites any one to dine with him, and il is |
aid his domestic relations are dreadfully In |
ectious Though this Is not peculiar to mill
ionairps He Il rq,,nrted IN have offarad
Us Wiie NAH million iately 10 consent TO
1sorce, ou, she, with q cunning and an
sariee worthy OF ner selfish spouse, refuses
'opins 70 ou.ASe him. lie has no heirs OF
Us own put mas several oy side-lssues- lie
lows ms Wue q splendid house and ten
ho'isahd wear 'or pm money ana Is o''iid-
ng q new ls,ls'lai nla,sioh on rum avenue,
coss = million ao'la,s whlie ne allows
ne ~ a ms a',,s.s, NOUS anu rI nv 'eOs
n Of his personal safety, and not long ago
discovered plan TO abdnct him 50 as to ex-
.rt money from MN py io,ce. ne never
We anysnins 70 ehaii'y' D"' solhe''nes
o T 70 loii'l'5'
Inc secohu weal'niese person IN New
Iork = eoinh'9oore ,ahuelou', whose m
rests IN aoeks, ie'l estate, SNIP, eIs7
housii Ine'oa'ins, ~ 'slllna'eu Z. MY NH
pnS. ne aiso y shrewu speeuia'or, OF
ioiiaiini :, descent. iils "nserupuious
coflers ~ '9e s'ock h,arket nave male
/, 'he areaoeu non =. shal 'hicket. Ihs
'oii'nouo'e slvss put i,''le 70 ehatitS ana
as ous one weaNhea's ts'ae y q iohuneSS lof
oise-ns esl o oe1hs one ~ she men VINO can
Po,s q sJvcoV team on the bioominguaie
oau. rta'iaia d. As'or y 'ne mex. IN
ruer' iiis rear es'a.e = vaiueu az uhirty,
We ",iih2ns' most ~ Tnici was ihneri'en
'o" n,. ms l,''er, yonh 'acoo -As'or' nc Is
ho'ieeapie e]alnplc Where son mas IN
efi.eo .ne ae,lniS.ttseness VI the iatner.
le = q ,ns v'a nhieesrp y! descent. ne
as salei''liy hs's'an'sa ms inheritance; una
auui,is ~ :. ,ol M neiss. iae SEES n.sle
society' kises niue 10 'hS deSerfing
'ariIies, a''y .hinss o.hsr People shouia DC
saving ana 'hr'''y o. 'heir pennies as ne
;,,, o,,,.,.,,,n,. nn.,,r,.,,,.. x,,.
m 0i' ZEN a4'' DIE pnoi hhnS VI No"
onn
IN contrast tothose Ian giad tooe informed
'at there are some gentlemen OF meas
new iofk VINO shough not nearly 20 rieh
re noted for tneif active sympatnes with
re poor; Mr. sponord OF the hrm Of
poDora, :iieston ~ ,og yeafsago gave up
~ attention 70 ms business and devoted
'mseii 70 private ana nnheraiaed charities.
y saie 10 assume s'at curing the past
eek when. the cutting night winds were
erpIuQ their lev kIHft9 the sIqQflQ4e Mr.