The Heaping Up of Riches

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Pacific Press Publishing Company · Oakland, California · Nov 25, 1903

FromSigns of the Times, Vol. 29, No. 47.

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The Heaping Up of Riches

In 1830 there were not more than a half-dozen millionaires in the United States, and of these only two were prominent, Stephen Girard and John Jacob Astor. Now there are not less than four thousand. Two years ago it was estimated by the New York Herald that these four thousand men possessed more than $16,000,000,000 (sixteen billion dollars) of the nation's $81,750,000,000. In other words each of the 4,000 possessed on an average $4,000,000, while the 76,000,000 million of people held $867 each. One twenty-thousandth part of the people own one-fifth of the nation's wealth; and by their perfection of organization and combination control very much more. At the close of 1902 the capitalization of the trusts in this country, according to “Moody's Manual of Corporation Securities,” amounted to over nine billion dollars, and including railroad consolidation, $15,000,000,000. Surely this is “heaping up riches!”