The evening times., 1900-10-03

in our Industrial economy. AS population
grew denSer and transportation upon them
earned but modest dividends upon capital
actually invested came to earn dividends
SO excessive that to shield themselves
from reductions of rates which the public
would have demanded. they had recourse
to the Issuance OF watered stocks and
bonds until today by the admission OF
''Poor's Railway Manual and other rep
resentatives of railway interests, one
half of the capitaliZation of American rail-
ways represents nothing but capitalized
extortion, better known as water" Tho
owners of these railways, like the own
ers OF the protected manufactures, and
the owners of the bonds, lived III the cit
les, and the railway policy pursued not
only gave unjust enrichment to q small
class in the cities at the expense of all
! the rest OF the country, but particularly
injured the rural districts. TranSporta-
tion rates were fixed, not according to the
cost OF the service rendered, as it is in
every competitive business, but on the
principle of charging all that the traffic
Will bear" AS a result the farming dis
tricts and the small towns, which are
served by cnly one railroad, have been
made to pay far more than the cities
which are served by two or more roads
which fear each cther's competition no
matter what secret agreement may exist
DSiHSSu the IldudSSIS- bs ISdSot1 VI the
/ heavier charges imposed en- these rural
districts and small towns. business and
population have been forced into the cit
les. where from the first wealth has been
unevenly distributed. Thus through a
third factor the cities have become the
seats of Il new plutocracy more powerful
than that which the civil war overthrow.
In 1870, despite the fact that some OF
these adverse forces had been at work for
several years the farms Of this country,
containing but little more than 10 per cent
of the people. co>tained exactly 40 per cent
Of the tangible wealth. In the census OF
1890 the farms of the country, containing
exactly 10 per cent of the population, con-
taiRcd only 25 per cent Of the targibIe
! wealth.
In both cases the real wealth on the
farm was less than tie tangible wealth for
even in 1870 a great many OF the farmers
were burflened by mortgages whose own
eTs. with few exceptions. lived in the
towns and cities. ia 1890. however. the
amount of these mortgages was far greater.
not only actually but relatively. We have
no census of mortgages for 1870. but dur
( ing the decade from 1880 to 1890 while the
estimated value of farms increased but p
per cent the value OF the mortgages annu-
ally recorded increased over 70 per cent.
Al the present time the farmers of this
country own much less than 25 per cent
of this real wealth. In fact. when the
census Of 1880 was taken, the people on
the farms and In the farming villages and
in the towns with less than 1900 people,
taken together, held only one-half of the
real estate. by the official returns, and
barely one-fourth of the personal properly.
by estimates which are practically official
The estimated aggregate wealth OF the
one-third of the people who live in cities
of over 1900 is $3S, ,000, coo, Geo The esti-
mated aggregate wealth of the two thirds
OF the people who live in the rural dis
trictS IS but S2f coo 000, coo. In the rural
districts property is as widely and as well
distributed as il ever was Three-fourths
OF the families there own their own land;
and if they are not subject 10 4 heavy mort
gage, are able to assert their political in
dependence. But the average wealth OF
the people in the rural districts is only
about 50, coo per family, while the average
wealth of the families in the cities ex-
ceeds 50, coo
One-eighth of The families of America
own seven times as much OF the wealth as
the remaining Seven-eighths, and 1 per
cent of American families own more than
the remaining 80 per cent
According to a statement received at
Democratic headquarters here today Ty-
biographical Union, No. g. Of New York,
better known as Big Six has Just passed
resolutions condemning the Republican
party because of its affiliation with corpo-
TatiOn5 and trusts inimical to the cause of
organized labor. and has opened central
| bureau from which literature is being sent
TO the allied labor organizations of the
country. Big Six It was said this morn
ing is in touch with more than l 200 labor
unions of all kinds in the State of New
York alone. The labor leaders are not de-
pending solely on literature. but have per-
sonaI representatives on the ground
This fight Of Big Six on the Republican
candidates for President and Vice Presi-
dent is not confined to New York, but the
war is waged just as relentIessIy in Ohio.
West Virginia, and Indiana, and in those
States where organized labor is said to
hold the balance of power
This is one Of the many reasons why the
Democrats, it was said this morning. are
so confident of victory. 1t was the vote of
organized labor in the close States, Repub-
licans admit, that elected Mr., Mckinley in
1896.