The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1892-06-15
OUR MILLIoNAIREs.

OUR MILLIONAIRES.
The New York Tribune publishes list of
the millionares OF the United States divided
by States. 1t is interesting reading. Though
not absolutely accurate, as it Omits the
names Of some who are nearly, II not quite,
worth a million, but who eluded the re-
search Of the reporter, and includes otherS
who, if they ever were mililonalres, long
ago ceased to figure IN that category yet
still il is approximately correct - quite
sufficiently SO as to serve as basis Tor rea-
soning
1t appears that of the 100000 inhabi-
tants Of the United States, 1904 are worth a
million each. That would give 67 Million
aires to every million of people. But the
distribution of fortunes is very unequal. In
the South, where before the war slaves con-
stituted the chief riches Of the well-tO-do
class. the humiliation of that form of prop
eriy has made millionaires few and far be-
tween, and there are hardly any inherited
estates. In Georgia, which is the richest
State ia the South, there are ], S73, 900 people,
and according to the ratio for the whole
country there should be 1l5 million aires;
in point of fact there are but II. In Mis-
sssippi, which has about the same p0pula-
ZION as Ldll1UlLids AllCAb aAO bAh WV vi
the other hand this State, with p0pula-
ton Of 1900, 600, shows up with list Of 162
mil.ionaIres, which is nearly thrice the
general ratio for the country at large.
Illinois, which is accounted a very rich
State, has population falling short Of four
millions. and $40 millionalTes, or So to the
million. New York with a population Of
about six millions, has 1903 milli0naires, or
ffat nj n
between tie Empire State and its sisters
arises in part from the fact that large pro-
portion OF those who make million outside
Of New York go there TO live and spend it.
The only States which surpass California
in the number of miliionaires are old States.
which were settled when this State was
wilderness, and have been growing rich by
agriculture and industry ever since. They
are New York, Pennsylvania, Illinois, Mas
sachusetts and Ohio. If we leave out of the
list OF California millionaires the group Of
railroad fnancieTs, the great fortunes Of
this State were made in mines and in fruit
and wheat lands. People are in the habit
Of regarding the bonanza kings as the
only people who grew rich cut OF
mining on this slope, but 1t ap-
pears from the Tribune list that quite a
large lNLLbCI VI IiE4Sul4e u llO lAGhCA AtAu
anything to do with the ComstOck dug
their millions cut Of the earth. Perhaps as
many grew rich by buying landed estates
in the early days at few cents an acre and
holding them until they were worth $50 an
acre OF more for fruit or grain. There are
laudholders 10 the river valleys who put
$4,000 to $4,000 into land twenty-five or
thirty years age. and who are easily worth
d - iii
fornia fortunes are trgceable to judicious
purchases Of city real estate. while others
less gifted with foresight cannot sell their
holdings to-day for what they gave for them
in the sixties. No fortunes in this State
have been acquired by manufacturing in
duslry.
Sismondi, in his history Of the Italian re-
publcs, observes that the acquisition Of
mass OF wealth is not Of so much conse-
quence to State as its distribution. In
the dark days which interviewed between
the downfall OF the Empire of the West
and The foundation Of Tie Italian republics
there we're in Italy 20C0 or 5000 families
whose possessions and whose wealth were
greater than those Of any noble families Of
the present day. But the great mass Of the
Inhabitants Of Italy were enduring poverty
more gTluulns than had ever Decn known
In the times Of the Romans. all tie land
had drifted into the ownership of the great
families; there were no manufactures; pee
PIE who were lot soldiers became perfoTce
agricultural laborers, and the problem for
their employer was how 70 get the
greatest possible amount Of work out Of
them at the least possible cost They ac-
tually endured such privation in tile shape
Of poor and se8nty food that pestilence
broke out at intervals among them from
insufficient nutrition.
1t is the pride Of California that while it
counts among its people more rich men than
any other State Of its age, it does not
contain many paupers. The distribution Of
wealth, upon the Importance Of which Sis
mondi so wisely dwells. is general in this
State Even the poorest seldom lack food
OF raiment Labor il generally well re-
muneTated. The extremes Of paupeTdom,
which are seen at every corner in Europe,
and are not unknown in New England. New
York and Pennsylvania, are seldom wit
messed here.