The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1893-12-28
WHY WE ARE NorN1ILLloNAIREs
The Condition of the MASSES Duo to tx
traynganUe-SOme Interesting Facts.

The Condition of che MASSES Due to TX
traynganUe-SOme Interesting Facts.
George X. Holmes, special census
agent on mortgagestatistics, approaches
the concentration OF wealth question
from the other side. He writes in tho
current number of the Political Science
Quarterly. Instead of attempting to
compute the property-holdings OF the
rich, ne strives TO ascertain no" N uen
OF the national wealth the masses oil
the people possess. The census bureau
took from every family in twenty-five
states and territories answers TO the
questions whether it owned or hlred
the farm or home occupied, and the ex-
tent Of the incumbrauce on owned farms
and homes, if any, with the value oil the
property. The results are believed TO
be fairly representative OF the whole
country. Assuming this to be 80, ~
per cent OF the farm families and 63 per
cent OF the homo families in the coun-
try are tenants. Among farm-ownlng
families 80 per cent carry mortgage
debts averaging sl,l3O on farms whose
average value is $3.50; among nome
owning families 20 per cent carry IN
cumbrances averaging Sl.lS7 homes
valued on the average at $3,254.
The census will show the NUMBER oil
farms to be about 100000, leaving
S, 1856, l52 families occupying, homes
that arc not farms. Mr.. Holmes con-
fines his wealth estimates here TO prop
critics valued at less than $1,000. Such
farms incumbered constitute So per
cent in number and SO per cent in value
OF all inCumbered farms; and such ln-
numbered homes constitute 81 per cent
in number and 46 per cent IN value OF
all incumbered homes. The census did
not take the value OF unincumbered
farms and homes and the percentages in
the other case are adopted here as prob
ably near the truth. Mr.. Holmes thus
proceeds to compute the distribution OF
wealth of these poorer classes:
$4,000 families hiring farms 500, a.,
worth $50 above debts"-s 2i0,OOo'OOO
1890 families owning incurl. e. ,
bered farms worth less
than 5000. deducting In
CUmbrance and other
debts and allowing them
500 additional wcalth....., l,S5g,7ilr 700
1864 families owning free farms
worth lens than $1,000. al
lowing 81 900 for addition
al wealth above debts...... 53OD,569,6OO
j.l50796 home hiring fRmilie
worth $500 above debtsr- 2,5I9,S9s,OOO
790Gl9 families owning incum-
- bered homes worth less
than $1,000 deducting in
cumbrance and other
debts and allowing 500
for additional wealth...".. !, l42,53l $50
i,7Gi,273 families owning free
homes worth less than
5000, allowing S2,00O for
additional wealth above
debts .""..,...... ................ 6,1i9OI6,09j
il595,88 families worth :sl7, a568s7,a4s
Total number of families in United
l26gO, 10!
Total Of national 900 600 900
Thus Of per cent OF the families of the
country own no more than about 90 per
cent OF the wealth; and per cent own
II per cent OF the wealth. And Mr..
Holmes believes his estimates do not
overstate the case against the poor.
His allowances OF holdings above debt,
etc, are certainly much too large for
the south, he says, and for the whole
country are probably none too small.
These conclusions are about as dubi.
Gus as any which have ever been reached
in the study of this question. Proceed
ing to divide the richer per cent Of the
families as between the very rich and
the moderately well off, Mr.. Holmes
takes the New York Iribme's list OF
millionaires (4,047) and gives them an
average of about $1,000, O00-thisi esti-
mate being also partly based upon the
results OF Thomas G. Shearman's claims
in the same line. This gives to the
Z, 047 very rich families, or three-hun-
dredths OF per cent of all the families.
about Sl2, 900 0O0,0 900, or 20 per cent Of
the nations wealth; and leaves the re-
naming property Of the nation (5l per
cent? to per cent of the families, ex-
Guiding the comparatively few million
aires.
The result seems incredible to Mr..
Holmes. That 4,O47 families should
possess nearly as much wealth (seven-
tenths as much, at least) as II ,593, 1857
families is, indeed, rather startling.
But it is probable, he contends, that
the statement is approximately correct.
Excluding the millionaires, the wealth
OF the great mass of people holding
property valued ut less than 5000 be-
comes an average of $4,000 family
which seems large for SO many, but
which, Mr.. Holmes goes on to demon
strate, must be about the case.
He attributes the condition OF the
great mass OF families partly at least to
the well-known extravaganza OF the
American people; and it is questioned
whether the extravaganza, this lavish
spending OF money for material COM
forts, enjoyments, and knowledge has
not been OF greater good to the nation
than such saving as the French people
practice. We do not understand him
to conclude that on the other hand the
riches of the rich have been the result
Of frugality altogether; he admits that
land monopoly, and he might have
added railroad and patent monopoly,
have done wonders in the way OF play
ing so large fraction Of the nations
accommodations into the hands of so
small number. The opportunities for
the accumulation OF excessive fortunes
are rapidly passing away, he thinks,
but the dispersion OF those already
heaped up does not show any signs Of
development in the natural order Of
affairs, and the great problem they
present to the republic tends rather to
become more and more aggravated.
"a SNAKE in the grass" is all the more
dangerous from being unsuspected.Ii So
are many OF the blood medicines offered
the public. To avoid all risk, ask your
drupnist for Ayer's Sarsannrilla md