The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1879-12-12
Intangible Wealth.

A series of calculations was presented to
the California Academy of sciences at its
last meeting, Mr.. Alex. Del Mar, which in.
wolves some very curious and instructive
results. 1t appears that the real and per-
sonal property in the United States has
been valued upon twelve occasions, at In
tervsls between 1880 and 1873 each val
ustion having been made at the period to
which it relates. These various valuations
were now, for the first time, brought to-
gether for comparison. After having been
reduced to money of the same purchasing
power, it appeared that the amount of tan
gible wealth per capita in the United States
had not increased during hundred years
in other words, that there is no more
property now than theSe was . century
ago.
When it was remembered that We enjoy
many com forts and luxuries to day which
were unknown to men of the past genera
tions, the correctness Of this result seems
open to question. But, on the other hand,
when it was recalled many items of worth
and expense We are enabled to dispense with
now, which were requisite in earlier times
for the purpose OF production, Its substantial
truth becomes apparent. For example, q
ten acre lot under the modern system OF
cultivation will support as many people se a
thirty-acre farm might have done under the
antique and wasteful process formely in
vogue. One ship under the steam will car.
ry as much freight in given time now Al
four ships under sail could have done /,
century ago. An ounce of silver paid fo
freight will now carry bushel of wheat
thousand miles to market; in former day
the same expenditure would hardly suffic,
to move the wheat twenty miles.
We have grown rich in Reproductive
power; but, on tho other hand, We hav
been enabled to dispense with good man
forms of tangible property and to substitut
for them bette; and cheaper ones. Th
numbering stage coach and six, the woode
plow, the distaf, the expensive and uu
wieldy loom, the groaning beast of burde
aud host of other agencies of which tn
past age of slow production, have give
way to the railway carriage and the steal
implements of . production which b,
!. grown to be infinitely more rapid. tt
o average amount of tangible capital h,
9 not increased in value; while its capaci,
d under mans superintendenoe, to produs
Q new wealth has become greatly enlarged.
In 1890 the average annual product,
I capacity of each individusl in this count
1t measured in dollars of o-day's purchasir
d power-was about $llO or $3.50 per famil
n 1t now amounts to upward of $3.50 p
/ family. Brain work now accomplish
d what numbering engines were required
&. effect in the good old times OF Ben Frsnkli
ut Mems capital is becoming idealized, cart
VS. allied, converted into intellectual tissl
ae 1t is becoming more and more remov
ID from the reach of the tax gatherer. 1t
st being converted into thought, skill and
ht invention--in word into intangil
ke wealth.
10 These considerations open a wide Fl,
ur OF thought. They beg the question as
sl- tween taxation upon tangible wealth q
Is. taxation upon the capacity of productio
no the former tending to remain station,
aud the latter to increase. They suge
N the increased encouragement of agenc
Aie TO accelerate this movement, aud thus pl
Tie the means of livelihood more and more
ne der the command of individuals and less
Ac- less within the power of mere tangi
OF wealth, 1t is half the work done to ascert
ny in what direction social reform is just
ot- practicable; and viewed in this light
me statistical observations 10 which stteni
we has here been called may prove to be OF
6 inconsidersbie value to the society and
s we'll wishers.
tha