Iowa state bystander. [volume] (Des Moines, Iowa) 1894-1916, 1895-04-05
RICHES OF THE WORLD
AMERICAS AGGREGATE IS BY
FAR THE LARGEST.
Per Capita the United States Take Fourth
Place, Che United Kingdom Leading
All Other Nations with Valuation OF
1890 Per Head.


It is a common impression In this
country that the United States STANDS
at the head OF the nations of the world
In aggregate wealth and the equality OF
its distribution. This is probably true
in the narrow sense that the aggregate
valuation of property in the United
States is larger than in any other coun-
try, but, according to the st. LOUIS
Globe-Democrat, it is not true IN the
sense in which it Is generally under
stood, that the average wealth per IN
dlY1dual Is greater, If the statistlcs OF
European economists regarding their
own countries can be accepted as trust
worthy. The aggregate for the United
states is larger than for any other cotln-
try, because the population is larger
than that of other great commercial ma
lions, but the proportion of wealth to
the population is less than in Australia,
Great Britain and France. The figures
Tor Australia, however, are not really
indicative of the wealth held in that
country, as the property of the island is
very largely mortgaged to British cap
italists.
England stands pre-eminent in the
actual holdings of wealth by her own
people. The estimate Of the wealth of
the United Kingdom of Great Britain
and Ireland made by DR.. Robert Giffin
in 1885 was f1o, 0s7, 0Oo. 900, or about $50
900, 100000. The classification of this val
uation was about s,4oo, 100000 for land,
$500, 100000 for constructions, 23,000,-
O0O,0Op for foreign industrial and ma
tional securities and public funds, S.
FL, to-. to-, al ,,,1 COL
public funds and $4,000, 900, 900 for move
ables and tools Of trade. This estimate
is somewhat higher than that made by
Michael D. MuIhall in his Dictionary
OF Statistics" for 1892. His figures for
1883 are f9,400, O00, 900, or about $4,000
QUO, 900, an increase of $1,400000 900 over
1852. DR.. Gifin's estimates were based
primarily on the income tax of Eng
hshmen as shown by the income tax
returns, which he proceeded to capital
lze at various rates of interest. DR.. Gift
lin has given much study to the subject
and took account of many other ele-
ments and much data besides that of
the income tax.
The population of the United Kingdom
in 1885 was 36,O13, 937, which would afford
an average valuation Of about $3.50 per
head, or $3.50 for family Of five. The
figures would show a considerably high
er average for England, Scotland and
Wales If Ireland were excluded. The
average, even for the United Kingdom,
is higher than for any other country
except Australia, where land values are
a large element in the reported wealth
This inclusion of land values in thinly
settled countries, where much Of the
land is unimproved, is subject to more
or less criticism in an effort to ascertain
the degree of affiuence of the people, and
adds greatly to the apparent per capita
valuation of our own western states,
like Nevada, Wyoming and Arizona.
The wealth of France is placed by
several of her leading economists at
200, 600, 100000 francs, or about $4,000
100000, which affords a valuation of
1,0S1 per capita, or IS, 405 per family of
five. France ranks second in wealth
among the great commercial nations
and shows a much more even diffusion
Of wealth among the masses than Great
Britain. There is slight difference
between the estimates of M. de Foville
and those given by Prof. Charles Glide
in the last edition of his "Principes
"A
fication of French property, but the diff
ference appears to be due to the differ
ent manner of setting off negotiable
securities against the property which
they represent. Prof. Glide gives $1S,-
200, 100000 in lands, $4,000, 100000 in
houses, $4,000, 900, 900 in negotiable Sc
,urities and $4,000, 900. 900 in movables
and money, making a total of $4S,000,-
100000; but he deducts 00OO00,O00 Gao
billiards of francS) for national securi-
ties and mortgages held in France
against French property, in order to
avoid the duplication Of figures. NJ.
lie Foville, as quoted by Prof. Claudio
Janet in lie Capital, la Speculation ct
a Finance" gives the figures at $14,-
700, 000,0 900 for securities, $4,000, 100000 for
and, $S,000 100000 for buildings and ST.,
,00,000,000 for movables and tools not
represented by securities.
1t is the great wealth of England and
ler large investments abroad which
enable her to dominate the money mar
iet through the London stock ex-
change. Prof Jannet declares that in
$50 there We're quoted on the London
market 2,4S2 securities and at Paris only
800. Prof. Glide, in speaking of the
growth of stock investments, declares
hat in 1915 only five securities were
quoted on the Paris bourse; in 1860,
E02, and in 1893 more than 1000. The
political success Of Germany in the
war and the settle
nent Of the French indemnity brought
Berlin within the circle of the worlds
great money markets, and 1900 securi-
les We're quoted in 1890 on the Berlin
stock exchange, but since that date
Berlin has fallen behind Paris as a
financial center. Prof. Jannet thus ex-
plains the financial supremacy Of Lon
Ion among the money markets of the
world:
Paris is far below London as the place
If liquidation of international engage
nents. London. thanks to the none
airy system based upon the gold stand
lrd and to the grandeur of British COM
nerce, has concentrated the market for
he precious metals and almost the en-
ire market for exchange between Eu-
'ope on the one side and the extreme
asst and North America on the other.
One has only to cast a glance over the
lnnual reports of the customs bureau
o see that France is able to regulate
Ter purchases in the United States, in
ndia and in China only by the inter-
'ention of England. 1t is the same with
ther countries of Europe. Foreign gov
like Germany and Russia.
,eep considerable deposits regularly in |
he banks of London to protect their
reasury operations.
A Wonderful African Mimic.
DR.. Moffatt, the distinguished mis- |
ionary and father-in-laN of D. Liv- |
ngstone, once preached a long sermon,