Smyrna times., 1932-02-03
States WEALTH EQUALS
S27Q6 FOR EVERY CITIZEN
VALUE NATIONS RESOURCES
FOR 1880 AT 1929, zoo, 900, 900
Physical Wealth of Nation In
creased Over Previous Year in
Spite of the Dollar Decline

Physical Wealth of Nation In
creased Over Previous Year in
Spite of the Dollar Decline
The total national wealth of the
United States in 1880 was 1929.
700,000,O00 the National Industrial
Conference Board announced last
week. The total national income
for the same year was ST., 0OO.-
100000. If, the board said, these
sums could have been distributed
equally among all the families in
the nation, each family would have
had $10,961 of capital and So. 1856
of income. Per capita wealth in
Delaware was given at $2,7O6. The
total wealth = tangible, physical
assets-for the whole nation fell
$32, 100000 or SO per cent
from 1929; while income repre-
senting the sum of personal in
come of all individuals in the coun-
/ try, plus business savings drop
ped $14,OO0,0OO,O0O or 1914 per
cent. The boards estimate of
wealth and income is the only reg
ular and comprehensive similar re-
search now being made. The last
estimate of the United States cen
sus was in 1922 showing national
wealth of $500, 800, 100000. The
per capita wealth in 1880 was 81
GIT as compared with S2,977 in
1929; and the per capita income
was $578 in 1880 as compared with
SOL in 1929. The wealth per gain
full worker, including the unem-
ployed was $6728 in 1890, and his
income was S1452. The term
tgainful worker" excludes, for in
stance, women engaged in house
hold tasks without specific paw,
and children. Among states, Ne
vada had the greatest per capita
wealth with $685.; Wyoming was
second with $4,480 and South Da-
kota was third with S4,356. Mis-
sissippi was last with S1,11O. Sim
liar detailed figures for national
income are not yet available. The
figure for distribution of wealth BY
states was 1922, 100000, GOO in 1880
as compared with 1855, 100000, 600
in 1929. The difference between
the figures for national wealth and
for the distribution of it by states
is accounted for by the fact that
the state figures do not include the
value of ships in the United States
Navy, privately owned water sup
ply systems, and gold and silver
coin and bullian, which cannot be
allocated geographically among the
states. 1T is of interest" the
board said, ito note the increase
of national wealth in the period of
16 years 1914 to 1880 both in ac-
tual or current dollars and in 1913
dollars. (The value of the dollar
varies with its purchasing power.
BY using the value of it in 1913, a
stable figure for comparative pur-
poses is obtained.) In 1914 the
national wealth distributed by
states, in current dollars was $685. /
600,000,0O0; in 1880 it was S322,-
700,000,000, an increase of II per
cent. In 1914 the national wealth +
distributed by states in 1913 dol
lars, was $189, 100000, 900; in 1880
in 1913 dollars, it was S261 ,O00,-
100000, an increase of 35 per cent.
The latter per centage therefore
represents the actual physical
growth in national assets. The in
crease of the national income by
for the same 16-year
period was ia per cent in actual
or current dollars" Applying the
same comparative process to 1880
Is compared with 1929-that is.
computing the wealths of the 1929
md 1880 in 1913 dollars the board
ound the actual physical wealth
If the United States increased S4,-
'00,000,000 in 1880, despite the &C
ual current dollar decline of S32,-
-00,000,000.