The Mason County journal. [volume] (Shelton, W.T.) 1886-1927, 1890-01-24
SEVENTY RICH FAMILIES.
A Startling argument Concerning thu
Concentration of Wealth.

n startling Argument Concerning tho
Concentration of Wealth.
Thomas G. eShearman, the well-known
New York stl tistician, has been engaged
for some TIM in collecting facts to show
= preciselyEas possible the proportion
~ - wealN of the country held by
10" mh and families; and he finds
sioa00i S'ncentration of wealth here
IMAM In any otne. entry. The results
ofhis investigation appear in the Forum,
from which the following facts are
| taken. MIR. Sherman makes the follow
ing enumeration of owner, Of more than
$40, 10000
s15O,OOO, Ooo-J. ]. Astor, Trinity
| Church.
500, 600, 0OO-C. Vanderbilt, w. X.
Vanderbilt Jay Gould, Leland Stanford,
J. d. Rockefeller.
S7O, 1000, 000-Estate of A. Packer.
500, 900, O00-John l. Blair, estate Of
Charles Croker
$4,000, 00O-William Astor, w. w. AS
tor, Russell Sage, E. A. Stevens, estate
OF Moses Taylor, estate of Brown & Ives.
$4,000, 000-P. d. Armour, f. L. Ames,
William Rockefeller, II. M. Flaglor,
Powers & Weighman, estate of P.
Goelet.
$35, O,OOO-C. P. Huntington, D. O.
Mills, estate of T. A. Scott, j. w. Gar
rett.
| $4,000, 000-G. B. Roberts, Charles
Pratt, Ross Winans, f. b. Coke, Claus
Spreckels, A. Belmont. R. S. .Livings-
ton, Fred Weyerhauser, Mrs. Mark Hop
kins, Mrs. Hetty Green, estates of S. V.
Hardness, r. w. Coleman, j. M. Singer
$25, 200, 000-A. j. Drexel, j. S. Nor
gan, J. P. Morgan, Marshal Field,
David BOWS, j. q. Fair, E. T. Gerry,
estate of Governor Fairbanks, A. Il.
Stewart, A. Schermerhorn.
$22, 500, 1000. H. Payne, estates of F.
A. Drexel, 1. V. Williamson, w. F.
/ Weld.
800, ,OOO-F. w. Vanderbilt, Theo-
dore Havemeyer, 81. o. Havemeyer, w.
G. Warden, w. P. Thompson, Mrs.
Schenley, j. B. Haggin, Fl. A. Hutchins,
estates of w. Sloane, E. S. Higgins, C.
Tower, William Thaw, DIR. Hostetter,
| William Sharon, Peter Donohue.
These seventy names represent an ag-
gregate wealth of 50, 700, 900, 900, an aver
age of more than $37, 100000. Although
Mr.. Sherman in making this estimate
did not look for less than 2O-millionaires,
he discovered incidentally fifty others
worth more than $40, 000,0 each; and
he says that list of 100 persons can be
made whose wealth averages $40, 900
each, and another list of 100 persons
whose wealth averages $4,000, 900. No
such lists can be made up in any other
country. ''The richest Dukes of En-
gland" he says, ''fall below the average
wealth of dozen American citizens,
while the greatest banker, merchants
and railway magnates of England can
not compare in wealth with many
Americans"
The average annual income of the
richest 100 EnglisEmen is about $780,
900. but the average annual income of
the richest 100 Americans can not be
less than $1,20O,OOO and probably
exceeds 81, 500, 900. The richest of the
Rothschilds and the world-renowned
banker, Baron Overstone, each
left about ST., 100000. Earl Dudley, the
owner of the richest iron mines, left
$40, 0O0,0 900. The Duke of Buccleuch
land the Duke of Buccleuch carries half
of Scotland in his pocket) left about
$50, 900, OOO The Marquis of Butte We:
worth in 1872 about $2S, ZOO, 900 in lana ),
he may now be worth $40, 900, 900 in all.
The Duke of Norfolk may he worth $4O,-
$1,000, and the Duke of Westminster
perhaps S5O,OOO,OOO.
Mr.. Shearman's conclusion is that 25,-
600 persons own one-half the wealth of
the United States and the whole wealth
of the country is practically owned by
100000 persons, or one in sixty of the
adult male population; and he predicts,
from the rapid recent concentration of
wealth, that under present conditions
$4,000 persons will practically own all
the wealth of the country in thirty
years-or less than one in 500 of the
adult male population.