The Pickens sentinel. [volume] (Pickens, S.C.) 1871-1903, 1894-01-25
Wealth not we'll DIvIdea

George K. Holmes, special cspsus
agent on mortgage statistics, approach .s
the concentration of wealth in the cur-
rent number of the Political Scicrca
Quarterly. Instead of attempting to
compute the property buldinos of tho
rich ne strives to ascertain how much of
the national wealth tho masses of The
people possess. The census h1rcan
LOOK from every family in twcuty-two
States and Territories answers to the
questions whether it owned or hired the
larm or nome occupied, and the extent
of the incumbrance on owned Inrms an' ~
homes, it any, with tho value of the
property.
The results are believed by the Suipg-
Held Republican to be fairly representa-
i've OF the whole country. Assuming
this to be 80, 80 per ceLt OF the farm
families and GO per cent of the home
families in the country arc tenants.
Among sarmownlpg families 80 per cent
carry mortgage debts averaging i ,I3O
on farms whose average value Is $3, 100;
among homecoming families 30 per cent
carry incum brances averaging $l.l39 on
homes valued on the average al So 254,
The census will show the number OF
farms to be about 100000, leav,pg 8 =
l96, az 'amllles occupying homes that
are not farms. Mr.. Holmes confines his
wealth e'tlmates here 10 properlie,
valued at less than $4,000. Suco farms
encumbored constitute 80 per cen. IN
numter and So per cent in value ofall
encuIn pered farms, and such ercumbertG q
homes constitute 80 per cent in lumber
ana 46 per cent in value of all encum-
bertd homes. The CELSIUS did net take
the values OF unencumbsred farms and
homes. and the percentages 10 the Other
case are adopted here as probably tic
truth.
According to the estimates tabulated
oY Mr. Holmes VI per cent OF the iaml-
lies vi tne country own no more than
ao"ut ~ per cent OF the wealth. Aud
Mr.. Holmes beIieves his es,im ATT 8 do
not overstate the case against the poor.
Ihese conclusions are about as DUBIOUS
as an. which have ever been reached in
the study OF This question. Proceeding
10 diVide The richer 9 per cent If the
families as between the rich and moder-
alelY we'll off Mr.. Hul ues takes tae
Ne" York Trbune'~ list Of mlll;onairca
Il O4O nd gives them uu AVERAGE ut
ABOUT $4,000 000-thiS estimate bcinu
also partly baseL upon the results Of
In )mas G. Shearmau's claims in ,hc
same line.
This gives TO the 4 ,O47 very rich fam
Nles, or three-Eundredths OF | pcr cen,
CT all The families, about $I2 900, coo 900
or 2O per cent OF the nations wenit.
and leaves the remaining property ,f
The nation (5l per cent? 10 Q per cent
OF the families, including the compara-
lively lew mlllionaires. The rcsul,
seems Incredible TO Mr.. Holmes. That
4,o47 families should possess nearly as
much Wealth--seven-tenths as much at
least-as IL ,593 1887 families is, in Iced
rather startling. But it is probable. he
contends, that the statement is approx
correct. Excluding the million
ares, The wealth OF the l 1,OO2,2l fami- |
lies lying between them and the great !
mass OF people holding property val
led at less $4,000 becomes an aver
age OF $28, 900 family, which seems
arge Tor 80 many, but which, Mr..
dolmes goes on 10 demonstrate, must !
be about the case.