The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-07-17

are reported as having only from 81 900

are reported as having only from 1000
to $4,000.
Nebraska has developed largely in the
last fifteen years from the sterile plains
| that formerly constituted it's territory
Its assessed valuation is now $90.5S5. 1872
Gold and silver are much more extern
| sively used in the West than in the East.
| On the Pacific Coast the gold and silver
almost supplant the paper money as a
circulating medium.
According to the eleventh census the
wealth of the country was distributed
very unevenly, the Northern and West
ern states being far heavier in proper
ton to population than the Southern.
! In wealth, pennsylvania ranks next to
New York, having an assessed valuation
OF 1883, 459.O16, owing largely to the en-
ormous manufactures carried on within
the limits Of this commonwealth.
The greatest difficulty in estimating
the wealth of the United States lies in
| ascertaining the value of the personal
property. which constitutes very con-
siderable item of our national wealth.
An authority on clothing estimates
| that every man, woman and child in this
country has at least $40 worth of clothes.
This would make the value Of our nation
al garments exceed $500 000,0 900.
The total amount Of gold coined at our
minis from 1898 to 1892 was 81, 5S2 600 900;
of silver, during the same PERIOD there
| have been 1861, 900, 900; and of subsidiary
coinage of all denominations, $4,000, 900.
In the year 1891 there were circulating
in the United States $1,175, 100000. The
! gold, silver and currency held in the
United States treasury at the same time
would increase the nominal sum to over
$4,000, 000, 900.
Our savings banks, being supported
mostly by the middle and poorer classes
| of people, furnish perhaps the best in
RI tf0y1 80
In 1891 the United States contained 1,O11
| savings banks.
Between 1860 and 1870 the abolition of
| slavery destroyed nominal wealth of
a quarter of billion of dollars; during
the same period the Northern states
! gained enormously in wealth, by the es-
Establishment of many new industries.
When the last census was taken the
| value of the railroad property of this
| country was considered to be equal to the
cost of construction and equipment, as
reported by the railroad companies. No
account was taken Of the increase of
| stock.
| The decade between 1870 and 1880 does
not show as much progress as might be
| expected, owing to the fact that through
| over-production, stimulated by the war,
| there was an immense shrinkage in APP
parent values, and also in assessed val
| uation.
In 1880, according to the returns of the
tenth census, the United States was the
wealthiest of all nations, Great Britain
| being second; and there is no doubt that
the last fifteen years have greatly wild
ened the gap between us and the English
OF the professional classes Of this
| country, such as doctors, lawyers,
teachers. journalists and clergymen, 40
| per cent have less than 81 900 capital; 50
per cent rejoice in capital Of from ST. 900
to $4,000: per cent have from SIC, 900 to
100000, and only l per cent enjoy more
than 500, 900.
The difference in valuation of property
at the last census was very remarkable
| In some states the assessment was no
! more than Is per cent of the real value of
| the property, while in other cases it is
| believed to have been as high as the sell
ing price.
The last census made no account of
| notes. bonds or other promises to pay
| whether public or private, and these were
| not included in the estimated wealth for
the reason that, while they are owned by
| one individual or corporation, they are
| owed by another
In 1850 the total wealth of this country
was $,136, 100000, about 1908 per capita; in
1860 it had risen to SIG, 100000 or about
$514 per head; in 1870 it was $30, O69 900 O0O
or about $3.50 per head in 1880 it had risen
to $43,642, 900, 000 or $50 per head; and
in 1890 to $62, 600, 00O, 900, or 81 900 per head
| When the last census was taken the
| depositors In the savings banks num-
| bered 4,533,217, or about one third of the
number of voters, while the deposits
amounted to $1,623, 600, 900, an average to
each depositor of about 1858. IT is be-
lleved that no other country can show SO
large an amount of savings as this.
OF the farmers of this country one
fourth. or rs per cent. have property val
ued at less than 81 900; 70 per cent have
holdings rated at from $1,000 to $4,000;
and only per cent have property valued
at from $4,000 to 100000. The number
| of millionaires among the farmers is SO
| inappreciably small that it dos not ap-
pear in the census returns.
Twenty per cent of the business men
| of this country have a capital of less
| than 81 600; so per cent have from 81 600
| to $4,000; Is per cent transact business
| with capital Of from $4,000 to $100, 000
as per cent have capital of between
| 100000 and 81 200, 900; and only 2-1Oths
per cent of the business men of the
| United States have a capital Of more
than 81 .000.0 900.
| In 1860 the real estate of this country
was estimated at $1,000, 900. 900, and the
personal property at SIS. 100, 900, 900: in 1870
! the real estate was valued at $4,000, 00O,-
| 000 while the personal property had dim
| inished to $4,300000,O0O; in 1880 the real
property had still further increased to
$4,000. 100000, and personal property had
diminished to $4,000, O0O, 900. 1t is not be-
| lieved that the value of the personal
| property actually decreased; the differ
ence arising. most probably, from in
creased skill in evading the assessments.