The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1890-10-02
THE GREAT MONEY POWER.
The Protective System Not Responsible
for the Vast Accommodations
Of Capital.

this (protective] system is transferring
the wealth of the many into the pockets
of few thousand people
In an article written by Thomas G..
Shearman, in the September number of
the Forum of 1888, and which has not
been contradicted, he shows that less
than $4,000 persons own $3l 800, ,OOO, 900
OF the national wealth, which is more
than one.half the entire amount.
Seventy persons are named by him in
one of his articles who own $2,7OO, ,OOO,-
ooo.-Roger Q. Mills to the farmers Of Io,oa,
August 2s.
The names and fortunes of the seven.
ty persons who, according to Thomas G..
Shearman, owns 81, zoo, ,0OO, 900, are given
below as he gave them in the November
Foram, 1889. We have added the busi-
ness in which each fortune was amassed !:
$15O,OOO,0OO: ]. J. Astor, fur trade
and real estate Trinity Church, real
estate.
$lOO,OoO,oOo: G. Vanderbilt, rail-
roads; W. K. Vanderbilt, railroads |;
Jay Gould, railroads; Leland Stafford,
railroads; ]. D. Rockefeller, standard
oil.
$7O,OOO,OOO: Estate of A. Packer,
coal mining and railroads.
$60,00O,0OO: John 1. Blair, railroads
and banking; Estate of Charles Crocker,
railroads.
$5O,0OO,OOO: VIM. Astor, real estate;
w. w. Astor, real estate.
$5O,OOo,OOO: Russell Sage, railroads
and speculation E. A. Stevens, real
estate Estate of Moses Taylor, railroads
and trade; Estate of Brown & Ives,
trade, real estate and cotton manufactur-
ing.
$40,000000: P. D. Armour, provis-
ions; F. L. Ames, railroads, principally
VIM. Rockefeller, standard oil; H. M.
Flagler, standard oil Powers & Weight.
man, chemicals Estate of P Goelet,
real estate.
S35,000,O0O: @. P. Huntington, rail-
roads; d. o. Mills, railroads; Estate of
T. A. Scott, railroads; Estate of J. w.
Garrett, railroads.
$3O,0OO,0OO: G.. B. Roberts railroads;
Charles Pratt, railroads; Ross Winans,
railroads and engineering G. B. Cox.
coal and mining; Claus Spreckles, Ha-
wiian sugar; A. Belmont, banking; R.
J.sLivingston, real estate; Fred weyer.
hauser (?); Mrs. Mark Hopkins, rail.
roads; Mrs. Hetty Green, speculation
and banking; Estate OF s. v. Harknesa,
railroads; Estate of R. w. Coleman,
manufacturing (f); Estate of I. M. Sing
er, patents.
$25,000,000: Al. Drexel, banking;
J.. s. Morgan, banking; ]. P. Morgan,
banking; Marshall Fields, dry goods
trade; David Dows, flour and specula-
tion J. G. Fair, railroads and silver
E. T. Gerry, real estate Estate of Gov.
ernor Fairbanks, patents; Estate of A.
T. Stewart, dry goods; A. Schermer.
horn, real estate.
$22,5O0,0O0: o. H. Payne, oil; Estate
of F. A. Drexel, banking; Estate of I.
V. Williamson, real estate and general
trade; Estate of w. F. Weld, trade,
commerce and real estate.
$2O,OOO,OO0: F. w. Vanderbilt, rail-
roads; Theo. Havemeyer, sugar refining;
81. o. Havemeyer, sugar refining; w.
6. Warden, standard oil; w. P. Thomp.
son (?); Mrs. Scheneley, real estate
J. B. Haggin, speculation H. A. Hutch
ins (O; Estate of w. Sloane, retail
carpet trade; E. s. Higgins, real estate,
principally Estate of @. Tower, coal
land speculation; Estate of VIM. Thaw,
railroads; DR.. Hostetter, patent medi-
cine; VIM. Sharon, railroads and spec.
ulation; Peter Donohue ~.
Reliable information is not now at
hand as to the manner in which five of
these fortunes were amassed but care
full examination reveals the fact that out
OF the other 65 not more than four were
made in protected industries, the other
81 having been piled up in trade, specu.
lation, railroads, oil and other industries
which are in no way affected by the
Tariff.
It is difficult to believe that Mr.. Mills
did not know that he was misrepresent-
ing when he cited these fortunes to
Western farmers as examples of how
Protection is concentrating wealth into
the hands of few. Roger q. Mills in
zane hatred of protection is rapidly win
ming for him an unenviable notoriety for
shameless demagogism.-Economist