The labor world. [volume] (Duluth, Minn.) 1896-current, 1910-07-30
THE POWER OF WEALTH.
BY Rev. Charles Stelzle. -.

BY Rev. Charles Sickle. +.
The wealth Of the United States
amounts to about $4,000 900, 900.
This Is nearly twice as much as the
wealth of Great Britain and Ireland,
two and half as much as that of
France and Germany, more than
three times as great as the wealth of
Russia and about six times as much
as that Of Austro- Hungary. The
wealth per capita in the United States
is approximately. $1,400. AS a mat
ter of fact, however, this great wealth
Is very unevenly distributed.
1t is difficult to secure accurate
figures, but it is said by financial
experts that one per cent of the fam
lilies hold but one-eighth of the ma,
uonal wealth. It is said that while
not the absolute owners, there is
within the control Of score of men
an estimated sum amounting to over
$2o'ooO,000,000. This Is an, amount
greater than the wealth of Austro-
Hungary, the combined wealth of
Italy and Belgium and one-quarter
greater than the combined wealth of
Spain, Portugal, Switzerland and the
Netherlands. 1t is impossible, Of
course, to estimate the actual wealth
OF the richest man in the United
States, but his real influence in the
United States is very much in. ex-
cess of the amount of money that he
absolutely owns.
The stocks of the railroad COM
panies of the United States are held.
by about 100000 persons, but a
mere handful of men control tho
property owned by these milliox
stockholders: The great railroad sys-
TENS of the United States have been
reduced to a few groups by means
OF consolidation and reconsideration
Ten of these groups comprise three
fourths Of all the railroad lines. in the
country, with a mileage of 100000,
and with a combined capitalization
OF approximately $4,000, 900, 900. It
Is not. inconceivable that, through a
process Of reconciliation, the rail-
roads OF the United States will be
merged: into a single monster corpora
ton. even though laws may be
farmed seeking to prevent such con-
solidation. for it is a well known fact
that some OF the cleverest brains Of
the country are at work to circur1-
vent. such laws :.
The: Standard Oil company controls
III subsidiary companies with a COM
bined capitalization of ..$238, 400.
Were the real market value of this
fol3 ~o$
would exceed three-quarters Of q
billions dollars. It Is well known that
In addition to the above, mining
railway, \ franchise, land. banking
transmission and manufacturing cor.
porations are owned and controlled
either by the Standard OIL company
! or its chief stockholders. These
equal many times the value of the
Standard oil company itself.
When one thinks of the vast army
! of men employed by the STANDARD
OIL company, by the United State!
Steel corporation. by the great min
Ding and railroad companies, there
must come realization of the ire.
mendous power Of these corporation!
over the lives and destinies of men
women and children. It Is true tina;
the corporation does not usual,
systematically set itself out to destro,
the liberty Of the Individual work
1ngman nor take away his chances
OF making a living, but frequentl,
by the manipulation of the market,
on: the part of INSCRIPTIONS stock.
holders, these things actually han
pen.
| This concentration Of power mus
lead to the close organization O.
workers, for only as the workingme,
themselves organize will they be IL
a position to present united from
against the unjust conditions which
may be imposed upon them. -.