The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1885-12-05
INDIVIDUAL WEALTH.

The accumulation OF immense fortunes
by individuals during the last quarter OF a
century in this country excels anything OF
| the kind in the worlds history. Spain in
her palmiest days, when she was mistress
of the Sc S and claimed all the treasures
from the mines in North and South Amer.
lea, could not boast of subjects possessing
such fortunes as are owned by men and
women scattered all over our land. The
wealth they are reputed to control is so
{ great as in some instances to actually seem
fabulous, or, at least, beyond finite com
| prehension. Where these immense sums OF
money came from or how they were &C
quired will doubtless forever remain a
mystery. Prior to the war a man who was
worth 100000 was considered wealthy,
while the few who could boast of 81, OOO,-
0 were looked upon as being among the
richest in the world. Now there are as
many reputed to be worth a million as
there were those who owned one hundred
thousand at that time. The richest man
in the United States is William H. Wander
biIt, OF New York City, whose fortune was
estimated in 1881 at the immense sum of
5000, O00, 900. Whetherhe has more or less
now is not known to any degree OF certain
ty. The probabilities are that his fortune
has increased, because it is difficult to con-
ceive how he could spend the interest de-
rived from such an immense sum.
1t is reported, however, that he lost in
cpoo,,1o finr IN %ho fono,r &C.,,
$40, 1000, O0O. In addition he sustained a
%shrinkage in the value OF securities held by
him OF as much more, making a total de-
cline in his wealth. according to the best
authenticated computation, OF from $751;
100000 to $4,000, 900. If this be true,
his available means have been reduced to-,
say $125, OO0, 600. This amount would be
considered a pretty snug fortune by many
OF our readers. The presumption is against
any shrinkage whatever in his wealth, and
in favor Of it's having been considerably en-.
larged during that time. The very fact oil
having increased the mount SOC, 1000, 900.
inherited by him from his father, since 1877,
to at least 5000, OO0, 900 in 1881, strongly
refutes the presumption OF any loss. This
seems almost incredible, but it is founded
on such good authority as to leave no rea-
son to doubt it. What is most remarkable,
in the career OF this millionaire, is the fact
that prior to coming into his inheritance
he was never known to make a dollar. His
father had very little, if any, confidence in
his sons ability to make money, or to
transact any mercantile. commercial, man.
ufacturing or other intricate business which
required financial skill; for. in his lifetime,
he purchased a farm on Staten Island for
his son, and entertained very serious doubts
OF his ability to manage it. In his opin-
he a not in error, because Will
lam had not been in possession of
it any length OF time before he applied
to a friend for a loan Of $4,000 on a |
mortgage against his farm. The friend not
having the money to spare applied to the
elder Vanderbilt for the amount. The
father at first refused to advance it., but
finally being persuaded that his SON.
property would be swept away, gave the
money to the friend with instructions to
take the mortgage in his own NAME.
III CllCb dDlC SuCCCoO " IL ]
Vanderbilt subsequently, together with the
immense fortune inherited by him. and it's
marvellous increase in a few years in his
hands, sounds more like a fairy story than
a recital of actual well authenticated facts.
Few persons can form any conception OF
the magnitude of such a fortune. If an at
tempt were made to count it, dollar at a
time, occupying ten hours every day, Sun
days included, it would take four years,
six months and twenty days. The interest
alone computed at 5 per cent, and his in
vestments average no less than that, his
amounts to 100000 600 per an
$3.50. 1913. 80 per month; $27,394.52
per day; $1,4O0.6 COY per hour; $19.01 per
and a mere fraction less than 80
cents per second. This immense fortune
places it's fortunate possessor head and
above any other millionaire in
the land. His like we may never look upon