, 1881-07-17
nISTRTRUrI0J Of WEALTH

4 certain variety of Communists who,
without positively atlvocating' the shotgun
a1ldithe torch AS agents to check tile accumll-
latioa OF wealth, are constantly cxaggerating
the concentration of capital aud croaking
over, what they are pleased to cali "startIing
faotsp
A letter from one of this class appeared in
yesterdays TRIBUNE: III the present distrlbu-
tion ofwealth, which was also full Of evil
| prophecies, worthy of Cassandra. This
writer, noticing the statements Of T. O. Por-
ter, Special Agent Of the Census Bureau, in
regard to the Concentration of the 81 eat bulk
| Of the registered bonds:in the hands Of less
| than LOO capitalists and corporations, says
that his own Investigations show that one
| half the general wealth Of the country Is
owned by 2 per cent OF the populationl
| There is Il vast difference between the in
yestigntiors Of Mr.. Porter and those Of
this writer. AIr. Porter has q talent
for statistics, commands larger force Of
assistants, is III actual correspondence with
representative men all over tile country, and
| makes up his estimates upon trustworthy
data. The other makes sweeping assertion,
which. without any inherent probability, is
put forth unsupported by evidence.
It is preposterous to maintain that one
half the wealth of the United States is con-
centrsued in tile hands OF per cent Of the
population. L single reflection will serve to
dls5ipate any sucll tlelusion. The lands and
possessions OF the agricultural part OF the
American people constitute about one-half
the wealth OF this country. But the farmers
Of the United States number, III round
figures, 100000 families. and represent
about 2o,ooU,0uo people, counting five to
family. This estimate does not embrace the
colurcd population Of the South. but only the
white landowners Of the Union.
It follows, then, that about 0ne-half the
wealth Of the country is distributed among
abtut 10 per cent Of the population. OF the
other 81 per cent, the bulk Of which Is urban,
it Is self-eyident that the real estate, town
lois, private residences, shops, mills. factories,
the stored goods. the stocks Of all kinds are
not concentrated within ! per cent OF the
people who inhabit the cities. nor within ten
times that number. Tile accumulation OF
great wealth, indeed. Is So exceptional that it
becomes matter Of nutorirty in every COM
munity, while the distribution Of small pos
sessions, ranging from $4,000. to $4,000, is
common and widespread. 1t. is estimated
frum careful Investigation. for instance. that
70 per cent OF all the married mechanics in
Philadelphia own their own houses. The |
proportion is probably not SO large in
younger cities, but must approximate that |
figure in cities like Pittsburg, Albany, Cin-
cinnati, and ST. Louis. In the Smaller cities |
and villages It is the rule fur The occupant to
own the house he lives in. Take the whole |
Milton together, three-fourths OF the families
own homesteads. and the bulk OF the other |
fourth consist of tile lately e1nancipated |
slaves and recently-arrived foreigners.
The last reports of the Bank Commissioners
Of New York State show that 1000 millions
of dollars are held in the savings banks uf
that State alone by nearly 400, ,003 depositors,
all Of whom belong to the laboring classes.
This money is loaned ont to the employers
Of labor. The laboring classes OF the New
England States have as much inOl1ey in the
savings banks as their fellows of New York.
1t is perfectly safe estimate to state that
Ut all the lands and three-fourths
Of all the dwellings In the United States oc-
,upied by white families are owned by them.
The mass Of the American people are indie
pendent freeholders. and there is no rubbing
,nt.thof fart