The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1889-11-08
CONCENTRATION OF WEALTH
Chicago Times

Thomas G. Sherman, the well-knOwn
New York statisticlan, has been engag'
ed for some time in collecting facts &c
show as precisiy as possible the proper
ton of the wealth of the country held by
d few rich men and families; and be
finds greater concentration of wealth
here than in any other country. The
result of his investigation will appear
in the Forum for November, from advance
sheets of which the following facts
are taken. Mr.. Sherman makes the
following enumeration OF owners Of
more than $50,000,0O0:
Sl50,000, 0O0-J j .Astor, Trinity church
500, OOO, 00O-C. Vanderbilt, w. c.
Vanderbilt, Jay Gould, Leland Stand
ford. j. ID. Rockefeller.
$40, 000, 900 Estate of A. Packer
$4,000, O00-John l.. Blair, estate oil
Charles Croker.
$50, OOO, OOO-WIlliam Aston, w. W.
Astor, Russell Sage, Z. A. Stevens
estate of Moses Taylor, estate of Brown
& Ives.
$40, OOO, OOO-P. ID. Armour, +. L. Ames,
William Rockefeller, III. Nj. Flagler
Bowers d WeIghtman, estate OF Z. Goe-
let.
So, OOO, OOO-C. P. Huntington, d. o.
Mills, estate of I. A. Scott, j. w. Garrett.
$4,000 000-G. b. Roberts, Charles
| Pratt, Ross Winans, L. b. Coke, Claus
Spreckels, A. Belmont, r. j. Livings-
ton, Fred Weyerhauser, Mrs, Mark
Hopkins, Mrs. Hetty Green, estate of s.
V. darkness, K. w. Coleman, l. M.
| Singer.
S25. OOO, OOO-A. j. Drexel, ]. S. Morg-
an, j. p. Morgan, Marshall Field, David
Bows, j. G. Fair, f. I. Gerry, estate of
Gov. Fairbanks, A. L. Stewart, A. Scher-
S22 500 1000. II. PAYNE. estates of E.
A. Drexel, 1. V. Williamson, w. F.
Weld.
$40, 1000, OOO-F. w. Vanderbilt, Theo-
dore Havemeyer, ii. O. Havemeyer, W.
q. Warden, w, P. Thompson, Mrs.
Schenley, j. b. Haggln, II. A. Hutchins 8,
estates of w. Sloane, f. s. Higgins, G.
! Tower, William Shaw, DR.. Hostetter,
William Sharon, Peter Donohue.
These seventy names represent an
aggregate wealth of $2,700, 100000, an
average of more than S37 500 600 each.
Although Mr.. Sherman IN making this
estimate did not look tor less than 20.
millionaires, he discovered incidentally
| fifty others worth more than $4,000, 600
each; and he says that list of 100 per-
sons can be made whose wealth average
| $40 200, 900 each, and another list OF 100
persons whose wealth average 50 200 600.
No such lists can be made up in any
other country. "Tbe richest dukes Of
England" he says, ''fall below the aver
age wealth of a dozen American citizens,
while the greatest bankers, merchants,
and railway mangates OF England can
not compare in wealth with many
Americans"
The average annually income of the
richest 100 Englishmen is about S45O, 900,
but the average annual income of the
richest 100 Americans can not be less
than.Sl zoo, 900 and probably exceeds ST.
500, 900. The richest of the Rothschilds
and the world-renowned banker, Baron
OveIstone, each left about $l7 200, 600.
Earl Daudley, the owner OF the richest
iron mines, left SIC, 100000. The duke
ofBuccleuch land the duke of Buccleuch
carries half of Scotland in his pocket)
lett about S30,000,0O0. The marquis of
Butte was worth IN 1872 about S2S.OOO,OOO
inland he may now be worth $40, OOO,OOO
in all, The duke of Norfolk may be
worth SAC, 900, 600, and the duke OF West
minister perhaps $50, 100000.
Mr.. Shearman's conclusion is that %
600 persons own one-half the wealth OF
Il United States and that the whole
wealth of the country is practically
owned by $4,000 persons, or one in sixty
of the adult male population; and he
predicts, from the rapid recent concen-
tration of wealth, that under present
conditions $4,000 persons will practi-
cally own all the wealth of the country
In thirty years or less than one in 500
of the adult male population.
Now, what is of most interest to the
people of this particular locality ID the
act that b. T. Hutchison Of Central
Pharmacy, Mankato, Minnesota, has the
finest stock of drugs, books, stationery,
toilet and fancy articles every brought
to Southwestern Minnesota, and you
don't have to be millionaire to buv of
him.