The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1924-03-17
$4,000 FOR EACH
WORKER IN U. S.;
THAT'S HIS SHARE
Did You Get Yours ?
Is Economist Query
Rv LELAND OLDS

(r ederated Fress Industrial Editor)
Do you own $4,000 worth of prop
erty with at least $4,000 of it in stocks
and bonds? If not why not? That
is your share, as one of the 100000
900 gainfully employed persons, Of
the country's total wealth. And if
you haven't got it then someone else
must be holding back your share.
The wealth of the United States,
according to the latest estimate of the
United States census bureau, amount
ed to the huge sum of 1926, ,00O,-
900 on Dec. 81, 1922. This repres-
ents an increase of 1870 since Dec.
81, 1912, when the total wealth Of
the country was figured at $187,739,-
100000.
But as the wealth of the country
increased an ever larger share was
getting into the hands Of the capital
lists who own stocks and bonds which
facilitate the absentee ownership of
property.
The proportion of the country's
wealth controlled by stockholders and
bondholders increased from about
33es in 1914 to more than 1870 in
1924. The following table shows the
wealth represented by the New York
j stock exchange in 1914 and in 1924:
CLASS OF SECURITY
1914 1924
(Last column of ciphers left off,
Stocks with
par value) $1s,17s,4se s1S,82s,OSO
| Stock (no
par value) ...... 6,253,638
bonds -. 12,s94,288 1s,48O,e24
War bonds ..... 14,584,00O
---- --------
Total $26,o72, $50 s5s,1O6, S42
This huge mass of capital never
stops growing. During the last IL
months it increased by nearly 49,
900, 100000. And every increase
means an added burden of interest
and dividends for the country to
carry. According to the Wall Street
Journal:
Greatest Wealth In World.
'The New York stock exchange
represents more wealth than any in
stitution in the United States. An
evidence of this is shown by the fact
that total interest payable on all
bonds not including liberties amount
ed to $S96,216,000 annually on jan
uary last compared with $3.50, 345,-
900 on the corresponding date of last
year, a gain of $35, S71, 900.
Including the war bonds annual
! interest payments aggregate a-total
of approximately $1,500,0 600.
These heavy annual interest payments
give one a good idea of the great
amount of money available for inter-
est at the end Of each month, par
ticularly on January 1 and July 1.
1t is probable dividend and interest
payments on securities listed on the
New York stock exchange aggregate a
total Of between $4,000, 100000 and
! $2.500, 100000 annually"
But, according to the Journal, even
this enormous flow Of money to the
owners Of stocks and bonds does not
fully reflect the wealth and prosperity
from corporations, many of them
Standard Oil companies, interest on
municipal and state bonds, notes, etc.,
not listed would add heavily to the
stock exchange total.
Income Without Work.
AS a matter Of fact the U. S. de-
partment of commerce reports total
dividend and interest payments dur
ing 1923 at $3,587, S44, 900 while the
total amount represented by stocks
and bonds is estimated at $136,000,-
0OO,00O This is the modern embodi-
ment of power. 1t gives owners the
right to require certain amount OF
income, i. e., goods and service from
the country each year without furn-
ishing any service in exchange. And
what is more it gives them right to
direct the work of an ever larger
portion of the population, that is, tC
govern.