The Bourbon news. [volume] (Paris, Ky.) 1895-19??, 1921-01-21
GREAT WEALTH OF NkTION
HELD BY FEW FAMILIES

lies in the United States control over
500, 100000 each; 100 families con-
troll over $50,000,000 each and 500
families control over $10,00O,00O
each.
John D. Rockefeller's estate is now
up to $3,000,000,000.
Five billion dollars of wealth in the
United States has been handed down
to heirs, many of whom were incom-
petents, in the past fifteen years.
Two hundred persons in the United
States control 5,000,000,000 in
France the same amount is controlled
by $50 times that number of people,
or 5000.
Industrially, the United States is
becoming dynastic-there is verit-
able dynasty in each important indus
trial structure, some of which are:
Sixty per cent of the tobacco trust
wealth is in the hands of ten families.
Twelve families, with the Rockefel-
Ter family away in the lead, control
SO per cent of the oil industry.
The railroads of the country are
controlled by 1.3 per cent of the
stockholders.
One and one-half per cent of the
stockholders in the steel trust pos
sess 81 per cent of the stock.
Two families control 81 per cent
of the stock in the harvest interests.
Klein Gives List.
These figures on the concentration
of wealth in the United States were
obtained from Henry H. Klein, dep
uty commissioner of accounts of New
York City, and a deep student of
economic affairs. He has spent ten
years collecting conceret facts on the
pyramiding of American wealth.
Mr.. Klein's attention was called to
the recent statement of George P.
Hampton, managing director of the
Farmers National Council, that thir-
ty-three individuals own per cent
of the entire American national
wealth. He estimated this 2 per cent
at about $4,837, 100000. Mr.. Hamp-
ton gave no names, but the following
list of individuals and estates and the
vast holdings, checked up to a recent
date, was given by Mr.. Klein:
j. D. and William Rockefeller, 3 to
5 billions; Pratt family, $4OO,OO0,-
900; Hardness, 100000, 900; Carne-
gle, $300,000,00O; Weyerhauser es-
tate, $300,00O,OOO; Vanderbilts,
$300,000,000; Astors, 100000, 900 !;
Payne Whitney family, 100000, 900;
Prick estate, $150,00O,00O; Goelets,
$1O0,000,000; J. ]. Hill estate,
$10O,O00,O0O; Hetty Green estate,
100000, 900; Field estate, 100000
900; Hartman, $1OO,OOO,OOO; Nor
gains, $3.50, 100000 to 100000, 900.
Armours, 500, 100000; Flagler es-
tate, $100,000,000; Anthony Brady
estate $100,00O,000 Goulds $780,
100000; Widener, $4,000, 900; Geo
Farrbaker, $80,000,000; Stillmans
$60,000,000; Isaac Stevenson, $70,-
100000; Kennedy Todd group
$75,000,000; Sage estate, 100000
600; Blair estate, $50,00O,O00'
$50,000,000; Rogers
$50, 100000; Archbold estate
$50, 000,0000; Mills estate, $50,
100000; Daniel Reid estate
s50,000,000; Plant estate, $4,000
600; Searles estate, $40,000,000
Swift, $1OO,O0O,OOO; Morris, $50.
100000; A. C. James family, $50,
900, 900; Cleveland Dodge, 100000.
100000; Pullman estate, $50,000,-
900.
Concentration In Last Stage.
There are many families, Mr.. Klein
in the $40,000,000 class
and this includes Mrs. William Leeds
now Princess Christopher, of Greece
and Alexander Smith Cochrane, until
recently Americas richest bache-
or" and now the husband of Nine
Gamma Walska, opera singer.
Mr.. Klein's list, which is several
pages long, does not 60 below the
81 100000 class.
He has compiled these figures and
data on those "who own America" to
point out the danger of the concen-
ration of wealth in the United States.
the evils of tax-exempt securities
which are heavily held by the big
estates, and in advocacy of a consti-
5utional amendment for the limitation
Of private fortunes. Mr.. Klein pointed
out that most of the Rockefeller in
stitutions are supported by wealth in
vested in tax-exempt securities, "and'
he added, 'they haven't spent what
they have saved in taxation"
''The concentration of wealth ir
The United States" the deputy COM
missioner declared, ''has reached the |
asst stage. 1t will be very dangerous
TO permit it to go further. The econ
omic structure is top heavy and it car |
not be cured by any wild-eyed |
theories of Socialism or Bolshevism
The top must be sliced off; it must
be made to stand the burden of gov
expense.
Expects Industrial Serfdom.
Colonel House at the peace con-
ference proposed a capital tax on
wealth throughout the world to pay
for the war, but his suggestion never
received much publicity. I talked
with him about the matter. Some
hing along this line must be done to
bring the world situation back to /
normal. Under the present system |
Europe can not pay her debts. The
,nly remedy / see is for the govern
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