The Camden journal. [volume] (Camden, S.C.) 1866-1891, 1886-07-08
Foundation and Capital.

The estimated true valuation o.
property in the United States ir
1850 was S7.l35,7S0.2-2. or %3G6,
per CAPITA. in 1860 tile estimated
value was Sl6.l59,Gl6,06s, whicl.
was s5l4 per capita. The value il
1870 was. estimated ct &30,06S,51s.
SIT or $3.50, per csr;ta. The in
crease of wealth per capita in ten
years, from 1850 to 1850, IVES 81 PEI
cent, or 8 7-1Otbs per cent per an
mum. The neSt len years the in.
ease was SO per cent, c. . is pei
t per unnun. Tie nGxi tel
hrs jcnding in 1880 the increase
Sas 10 IS per cenE, or about l PEI
knt per arnnm per caniia. ~ e.l
TE&aiing tue increase ar we.lth il
decade fom 1853 10 1880 with
regard to population. we fuA The
|rease in tile first decade 115 pc,
It or ] / 1-5 per cent per annum.
tine second decade Sc per cent OF
8 3.5 per cent PEI: annum; in the de.
cade ending in 1880, 45 per cent, OF
4 1-2 per cent per a1num.
From these statistics we learn
that the increase of wealth in the
United States. whether regarded as
q whole, or per capita, has greatly
diminished since 1850, and that in
every decade there is greater dim
mutton, and in the last decadethe in
crease in wealth per capita was re-
duced to l per cent-as whole to
A. per cent. THUS it appears hat
the accuuulation of wealth in the
hands OF q few has O tendency to
diminish rather than to increase the
production Of wealth and general
prosperity of The country. When
wealth increased most rapidly, mil.
liouaires we're scarce. Now that
nillionaires are numerous and their
accumulations have reached into
tens, and hundreds of millions gen.
eral prosperity dinlinishes, therefore
whilst the concentration of capital
impoverishcs the many and fails to
produce general prosperity, or in
crease the production Of wealth, ii
has tendency to deprive labor OF
an equitable share of its own pro-
ducts.
By acombiration Of capital the va.
rje1 industries ofour cuntry are emonOp-
olized and the profits thereof appro-
priated by corporations. S3,394,340,
029 are invested in maoufac.
lures, the greater part Of which is
controlled by corporations. Thev value
of the product OF tEeso manufactures
is s5,S9G.6G7,7GG. After deducting
wages paid. material used, and in
terest on capital we find q balance
of net earnings amounting to $780,
O92,35S, a snm equal to Il per cent
on the investment. In railroads
(nearly oil of which is monopolized
by corporations Ss7,495,47l,311 are
invested. The stock Of these roads
has been increased by watering
until the apparent average cost of
these roads per mile has reached the
sum of S55, ,461, and the net earnings
on this inflated stock is about 5 per
cent; but the actual cost of rail-
roads would, perhaps, not exceed
one.third of the inflated stock; there
fore Is per cent would be nearer
the actual profit realized upon 'ail.
road investments. Banks realize
about 10 per cent On their invest
ment. How can ether occupations |
or employments agricultural or me-
chanical, realize any profits when
the average per cent or increase of
wealth is 4R per cent? and trans
portation and manufacturers realize
is per cent of one-6fth on the value
of the entire property of the United
States, or more than three times
their equitable share of average per
centage of profits. The excess of
their net earnings, above an average, |