The Elk Mountain pilot., 1880-06-24
COLOSSAL FORTUNES.
Individual Wealth in Ancient and Modern
Times.

this day in all civilized communities
are better housed, fed, clad, and paid
than the same class at any other time
in the history of the human race; yet
there never was a time of greater dis
satisfaction among workingmen. Dur
ing the magnificent reign of Louis
XVI. there was more extreme poverty
in France than there is now in all
Europe, Ireland included. The con-
dition of the emancipated Russian
serf is far better than that of the
French or German peasant two centu-
ries ago; and within the historical era
there is no record of time when fifty
millions of the common people and
poor were SO comfortably situated as
the fifty millions who now inhabit the
United States.
But if the condition Of the poor has
improved, the private fortunes of the
rich have so increased as to utterly con-
found all attempts at comparison with
the rich men of past ages. Gas rich
as Cresus" has stood for an adage
these twenty three centuries. Yet
CrGsus was king who devoted his
whole energies to the acquisition of
gold, and there is good reason to be-
lieve that we have not less than half
dozen men and women in this state
who are richer in gold and its equiva-
Tents than this Lydian monarch. The
richest man in Rome at the time of
Caesar was Crassus. His fortune has
been carefully estimated by several
historians, but never above So,
900 Of our money. This is not much
more than William H. Vanderbilt's
yearly income, and it is more than
SI;ooo,co Lelow the asppraiscr;ei1t of
the fortune of the late William S.
O'Brien, of this city. The Astor
estate was valued ten years ago at
$40, 900, 900. At moderate rate of
accretlon-say S per cent.-lt must
now amount to 500, 1000, 900. The
yearly income at the same rate is
$4,000, 900. This is third more than
the entire income of the monarch of
the British empire, and good deal
more than the entire revenues of the
English government ESQ years ago.
1t is asserted that there are eight or
ten English peers whose incomes each
exceed the allowances of parliament
to the queen, and yet the richest men
in England are commoners. Half a
century ago the reputed wealthiest
man in America was Stephen Girard,
of Philadelphia. His estate was ap-
praised below $4,000, 900. There
are probably now one hundred private
foatunes in the United States each
greater than Girard's, and half dozen
more than twice as great. In the pur-
chasing power of money the ancients
had the advantage. A dollar would
buy more thousand years ago than
five will now. Forty years back a
man who had $4,000 was rated as
quite rich, and one of $500, 900 phe-
nomenal. The latter class were not
as numerous in this country as those
OF $4,000, 900 are now.
Of course there is not gold and sill
yer enough in the world 10 represent
the aggregate of these little private
fortunes, nor tithe of~-them. They
are invested in lands, houses, govern
ment, railway, bank, mining, and
other stocks. The national bonds of
England, France, and the United
States cover nearly ten thousand mil
liops, and the railway securities of the
United States alone cover nearly five
thousand millions. The largest pri-
vate landed estates are held in Spanish
America, Mexico, Russia, England,
and the United States, but the largest
of all in the latter country, are by
corporations. 1t is thought. and justly,
a great hardship to the common peo-
pie of England and Scotland that the
duke of Sutherland should own over
100000 acres, and many other
lprminent mobiles more than LOO, 900
each. But there is one corporation in
this country that has been granted
\ l.