The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-04-04
THE DISTRIBUTION OF WEALTH

Fifty years ago the New York Sun
printed a pamphlet containing the
names Of the citizens Of that city who
were then reputed wealthy. Recently
copy Of 1t was sent to the Sun, and
it has been republishing it in weekly
installments in It's Sunday issue. With
each name Is a brief biographical
sketch giving, with other matter, the
means by which the wealth was ac-
quired. AS basis Of comparison. both
With past and present conditions, and
as suggesting an inquiry whether con-
dftions affecting the distribution Of
wealth are any different now from
those existing in 1916, or have since
then undergone any material change.
the old directory is interesting and Of
value. The striking fact, as one scans
the columns of names. is the rare oc-
currence of instances where the million
dollar point Is reached, and equally
striking is the fact that so many men
OF what would now, there or anywhere,
be called of very moderate means, were
then accepted as among the wealthy.
Prominent, in fact almost alone.
among those who had passed the mil
lion dollar mark, were the Astors, and
their riches of course, all came from
the astuteness of the original John
Jacob, who foresaw that the time must
w no -
city would give to it's land great value
and who invested his surplus money
in acquiring real estate 1t was the
"unearned increment" turned constant
ly into more purchases and steadily
held to as a family policy, that has
made the Astors milliOnaires.
But, aside from these exceptions the
ratings run from 100000, which was
evidently regarded as the minimum
sum which entitled it's owner to be
rated wealthy, up to $500,O00 In the
900, left him by his father who was
British commissary," and Gouveneur
Morris, son of the famous Gouveneur
who made his money in land, the son
inheriting his wealth, who is described
as "a plain, unlettered farmer who
daily sends milk to the city" Aside
from these and one or two others.
whose landed property had lifted them
toward the million dollar point, the rest
were wealthy" in those days in more
modest sums.
Taking those Of this class we find
among them doctors and lawyers who
had gained their property in their vo
cations. One began life as a foot
peddler of tin pepper boxes and Yam
kee notions" and had accumulated
100000. Another made his fortune Of
$25O,000 as an auctioneer. James Kent.
the famous chancellor, was rich at
100000, made in the law, and the Ker-
nochans of today come from the Ker
nochan who Is described as ''of a poor
Irish family" who made his fortune of
100000 Gin Southern trade" Others
were merchants, hardware dealers. ship
owners, and. aside from inherited
wealth, or that gained through real
estate investments, all Of them gained
their position in the directory in the
ordinary pursuits of life. COMPARED
with this, how changed are the condi-
lions there today. The man with but
one million is regarded as poor by the
many who are vaguely ranked as "muI-
ti-millionaires." No directory Of the
rich Of today would accept 500, 900 a.
the lower limit of admission to its
columns, and $1.0O0.OO0 would probably
be fixed as the minimum. Fifty wears
has increased the entrance point ten
times.
Nor would such a directory today
show so large a proportion Of names Of
men who had grown wealthy In the or
binary vocations. Where lawyers have
reached the million dollar point. INQUIRY
would develop that it was not made
wholly in practice at the bar, but
mostly through their connection with
schemes that had their basis in some
use OF governmental function. For
tunes made as Stewart made his, in Ie-
ultimate trade, by virtue of great bust
ness ability, would be rare in the list.
while those whose owners had had, in
one way or another, the government
for a silent but very influential partner.
would be found to almost monopoI,za
the lists. In fact, fifty names would