The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1899-05-06
They Do Not Have the Influence
Here that They Do in England.
Matthew Marsha Apo
logizes for Thorn.
And Wants to Give Them a Show
in the Political World.

One result of the prevailing widespread
speculation in stocks and of the launching
upon the market of the enormous mass O
industrial securities recently created, will
probably be the harvesting of anoth
or crop of millionaire fortunes, to- b,
added to those already existing, write,
Matthew Marshall in the New York Sun.
Such a crop followed the great activity
In railway construction promoted by the
California and A ustrslia gold discoveries
in 1s49; another was the outcome of the
gigantic government expenditures during
the civil war, from 1861 to 1865, and an
other that Of the stimulus given to bust
ness by the resumption of specie payments
in 1879.
During each of these epochs industrials
which had been languishing revived and
extended, new ones sprang up Ike mush
| rooms, but unlike them. throye and en-
dured, and property and commodities for
which their owners had paid little or
nothing became immensely valuable. So,
now. sagacious or lucky men are growing
rich either by real increase of the earn
Ing power of their undertakings, or by
what, for selling purposes, is equally SER
viceable, popular faith in such an in
crease. Old stocks and bonds have risen
in price and host of new ones have been
created, the proceeds of nearly tho whole
of which are profit to their create 70.
A great many OF these ara undoubtedly
destined to relapss into their original
nothipgness, but enough of them will
either be sold or prove valuable to some
body and. as has been said, will help to
swell the list of American millionaires.
Already we hear of men heretofore un-
known to fame buying magnificent resi-
dences, aspiring to distinction in the
social world, to which great wealth is
supposed. to give title, and embarking in
enterprises which require the command of
sums which only millionaires possess
In the natural course of events more
such will come into view and take the
position which they covet.
NUMBER OF MILLIONAIRE EXAG-
GERATED.
The number of possessors of millions
among us, as we'll as the amount of their
possessions. has already been exaggerated
by popular estimation, and Is likely to
re still more SO. Seven years ago the New
York Tribune. after as thorough an in
quiry into the facts as 1t was possible to
make, printed list of names of men
residing in different parts Of the Union
who could justly be credited with having
property to the value ofiSi 900, oOO-and up
ward.
The entire number of persons men
whom 100 were residents of this city.
Some of them undoubtedly had at the
time, a million and more, but others in
the opinion of those we'll acquainted with
their circumstances, had less than mil |
lion, but, putting the average as high as
81, COO. 600 each. their aggregate fortunes
would come to only 50, 900, 100000, out of |
the 500, 900. C0O.OC0 which the census of 1890 |
estimated as the total wealth of the coun- |
Try.
Since 1892, when tile Tribune's list was
made up. the number and the riches of
ome of the persons entitled to figure in
t have undoubtedly increased, but SO,
90, since the census of 1890, have the
iches of the country as whole. IT, In
$50 there were 1000 of our citizens pos
assing in the aggregate IS, 900, 000. 900 out
# 65, 600, 600, 900, there are probably 5000
low possessing $4,000, 0C0, 900 out of $780,.
00, 900, 600.
4 fi~ct irrht ,cfr CO oxx |
Individuals should have control of one
Eighth of the common stock of the coun-
RVS wealth, but little reflection will
how that the same disproportion exists
IL regard to all objects of human desire.
That out of %. OO0,0 00 persons engaged in
.ainful occupations. according to the
ensus of 1890, only 1000 should succeed
n amassing So, 600, 900 each is no more ex-
than that out of the same
lumber as few proportionately should at
ain eminence in their trades or their
Professions.
EMINENCE COMES To FEW.
Thousands of young men every year set
themselves to make great names as
awyers, doctors, and artists, but scarcely
ne of them does it. Thousands of
Dung women, as well as young men, go
pom the stage every year. az actors and
irgers. but the stars among them. as we
80, are few, while IL any thousands more,
fter painful and laborious training, do
lot even get chance TO show that they
an shine at ALL Looking back over the
&c ords of history from the beginning
70 ilrd the same is true Of paintsi s
culptors, musical composers Tn1 singers,