Omaha daily bee., 1889-11-03
CONCENTRATIONS OF WEALTH.

Elsewhere IN our cOlumS Will Oe 1Ounu
an article written for the November
Forum by Mr.. Thomas G.. Shearman,
the well-known statistician, which is one
of series in answer to the question,
"Who Owns the United StatesY This
article, of which advance sheets were
furnished the press, has attracted a
great deal of attention and comment,
and while the criticisms upon
it have tended to somewhat
diminish its value as an
authoritative and trustworthy presen-
tation OF the subject, its general merit,
and its worth especially in calling at
tention to matter which ought to be
of absorbing interest to every Ameri-
can citizen-that Of the concentration
of wealth have been fully recognized
and commended.
Making every allowance for errors,
and it is not questionable that
the article: contains some, it is
still most interesting and sug-
gestive exhibit, worthy of the at
tentive consideration of all citizens
Mr.. Shearmap gives list of seventy
names, representing an aggregate
wealth of twenty-seven hundred mil
lions Of dollars, an average of thirty
seven and a half millions of dollars
each. He names ten persons whose
wealth is estimated to average one hun
dred millions of dollars each. and one
hundred persons whose wealth averages
twenty-five million dollars each, and
this, he says, can not be done of
any other country. From an array of
such facts Mr.. Shearman concludes that
half the wealth of the entire country is
owned by twenty-five thousand persons,
and he expresses the opinion that in
thirty years fifty thousand persons will
practically own all the wealth of the
country.
1t is not necessary to accept unques-
tioningly this view in order to appre-
ciate the startling significance
of what it suggests. Let it
be assumed that the number Of persons
who now own half the wealth of the
country is double that stated by Mr..
Shearman, and then the matter will be
sufficiently serious in all its aspects. 1t
is true that this vast wealth in the con-
troll of comparatively few persons is
not boarded, and that while it is neces-
sary to express it in dollars, it is really
to a very great extent wealth of in
vestment, employed in enter
prises, nearly always profitable, which
contribute to the general welfare. But
even with this in mind it IS a some
what alarming fact that twenty-five,
or even fifty thousand persons are in a
position to compel nearly sixty-fve
million people to pay tribute to them,
and that under prevailing conditions
these persons must continue to increase
their wealth until in time they or their
descendants will own the entire wealth
of the country. Nor is it material that
in some instances Mr.. Shearman has
exaggerated the wealth of individuals.
With a general reduction OF twenty
five per cent from his figures the ag-
gregate will still be appallingly large.
The character OF the persons who
control this vast wealth, and the meth
DDS employed in acquiring it, are
matters worthy of consideration in con-
nection with the subject. How many
of the multi-millionaires named by
Mr.. Shearman have acquired
their great fortunes by processes which
can be approved AS fair and just? How
many of them do not owe their wealth
to methods by which the public has been
despoiled and plundered, and the ma
tional government itself victimized? A
thoughtful perusal of the facts pre-
sentod by Mr.. Shearman, making every
| allowance for errors and exaggeration,
cannot fail to impress the intelligent
reader withoD the conviction that
there is Urgent need of change
from a system that permits such a con-
centration of wealth and enables few
persons to put the masses of the people
under contribution to further swell
their store. Mr.. Shearman does not
suggest a remedy, but ne indicates
with sufficient clearness one means OF
relief, which is to radically change the
national policy under which this enor-
nous individual wealth has grown and
is securely protected.
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