The Somerset reporter., 1889-11-07
Who owns the United States.

In spite Of the rapid Increase in the
number of miilionalrs in the nIted
States in recent ears. the popular notion
is that wealth is vet very much more
evenly distributed in this country than in
England Mr. Thos O Sherman. tie
well known New York statisticlan. has
been engaged for some time in collecting
facts to show "a precisely as possible the
proportion Of the wealth Of the country
held by few rich men and families; al q
he find a greater concentration Of wealth
here than in any other country. The re-
suits of his Investigation will appear in
The Forum for November, from advance
sheets which the following facts are
taken. Mr.. Shearman makes the follow
ing enumeration Of owners Of more than
+ $4,000 900 each
$4,000. 900: J. J. Aston, Trinity
Church.
100000. 900: c. Vanderbilt. ". X.
Vanderbilt, Jay Gould. Leland Stanford,
J. d. Rockefeller.
5000 10. 900 Estate Of A Packer.
500, 0,oo6; John l Blair Estate Of
Charles Croker
$3.50. 900. 600 VIM Aston, ". W. Aston,
Russell Sage. E. \. Stevens, Estate Of
Brown & Ives.
$40. tAl .tfl . l. II. ATuNHIt T l. anu
VIM Rockefeller, II. NJ. Fiagler. Powers
4 Weightman. Estate Of p Goelet-
So. 900 600 c. ?, Huntingdon. y. @.
Mills. Estate of T. \. Scott, J. W. Gar
rett.
SO, 900 900; G. B. Roberts. nari--
Pratt, Ross Wiuiaus. +. b CaXe Claus
Spreckels, A Belmont K. J. Livingston,
Fred Weyervauser. Mrs. Mark Hopkins,
q TT Of d
ness. K. W. Coleman, |. NJ. Singer.
o25 900 600 A. j. Drexel, J. ; Morgan,
j. P. Morgan. Marshall Field Bows. j.
G, Fair, Z. T. Gerry, Estates of Gov.
Fairbanks, A. 7. Stewart, A. Schermer-
horn.
S22 500 600 o. H. Payne, Estate Of F.
A. Drexel, l. V. Williamson. ". F.
Weld,
$4,000 600 F. W Vanderbilt, Theo.
Hayemeyer, II. O. Havemeyer, W. G.
Warden, W. p. Thompson Mrs Schen-
ley, j. B. Haggin. H A. Hu'chins, E>-
tates of ". Sloane. L. t. Higgins, c.
Tower VIM. Thaw, DR.. Hostette. VIM.
Sharon, Peter Donohue.
These 20 names represent an aggregate
wealth of So 100 900. Q00, an average of
more than So 800 900 each Although
Mr., Sherman, in making this estimate
did not look for less than twenty mill
ionares. be discovered incidentally fifty
others worth more than SlO, Go9, ooo each
and he SAYS that list IF ten persons can
he made whose wealth averages sloo. 900,
900 each. and another list of one hundred
persons whose wealth averages S25, 600
600. No such lists can be made up in
any other country. The richest dukes
of England" he says. fall below the
average wealth of dozen Americn cit
liens; while the greatest bankers, mer-
chants, and railway magnates OF England
cannot compare in wealth with many
Americans"
The average annual income of the
richest hundred Englishmen is about Si5,
900, but the average annual income of the
richest hundred Americans cannot be less
than 81 200, 900 and probably exceeds
Sl.jo0 900, rhe richest of the Roth>-
childs, and the world-renowued banker.
Baron Overstone, each left about ST.
100000. Earl Dudley, the owner of the
richest iron mines. left $50 200 600 The
Duke of Buccleuch and the Duke of
Bucclcuch carries half of Scotland in his
pocket left about $50, 900 90. The Mar
quis of Butte was worth, in ls12, shout
SIS 600 600 in land and he NAV now be
worth $40 0o0, o00 and the Duke of West
minister perhaps $50, 900 600.
Mr. Shearmans conclusion is that 25.-
900 persons own one half of wealth of
the United States and that the whole
wealth of the country is practically own
ed by 250, 900 persons, or one in sixty of
the adult made population; and he pre-
diets, from the rapid recent concentra-
tons of wealth, that under present coudi'
tiDus 80 600 persons will practically own
all the wealth of the country in thirty
yesrs-or less than one in 500 of the
adult made population.