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THE IMPENDING CRISIS

Conditions Resulting from the Concentration of Wealth in the United States.

by

BASIL A. BOUROFF,

Graduate Student of the University of Chicago.







Publishers,
Midway Press Committee,
Chicago.
1900.

Copyright, 1900, by
Midway Press Committee.




                                PREFACE.


This is not a novel, nor a work of fiction; it is based on the facts of
the Eleventh Census and other statistical reports, and on the most
reliable authorities on these subjects. This book represents the most
essential and fundamental features of the nation’s situation. It shows
the reasons why your cities rapidly become the property of a
comparatively very few persons; why the American farmers lose their
ground, and the urban population lose liberty; and why all become
absolutely dependent upon a few multi-millionaires. It exposes the
conditions in consequence of which the whole nation becomes a nation of
mere tenants of farms and homes, paying rents; and, while the wealth
increases, the greatest majority of the people come into desperate
struggle not for pleasure, but for simple existence.

In order to impart as much knowledge in regard to the situation of the
nation as possible, it was found necessary to supply the readers with a
sufficient comparison of statistical facts, pointing to the differences
of averages made by different authorities on the subject. This
comparison has also been introduced for the purpose of indicating
certain truths of special value, and for finding the true bases of
reasonably dealing with the most vital problem of the national
existence. This problem involving conditions that cause the commonly
recognized social unrest of the present time is a problem which grows in
intensity.

Recognizing the difficulty in solving the problem and the danger of the
situation, we should not wonder, if the very persons who are always
inclined to make discounts in established truths, will be profoundly
surprised to know from the final conclusions here presented, that the
time of discounts has passed away, and that it is now too late to ignore
the facts of so serious significance.

If this work should come to be regarded as a general diagnosis of the
diseased situation, we may rest assured that there are many thousands of
people who will count it their sacred duty to find the proper remedy for
curing the disease of the national organism. For it will be seen that
the situation is rapidly growing worse every year with the increase of
population, and there must be an end to the disease. Surely, if the
increase of the national wealth is becoming less than the continual net
incomes of the private monopolies, trusts and combinations, it is not
difficult to recognize that the situation is already very bad. It is
therefore desirable that every one should carefully learn the situation.

                                                          THE AUTHOR.

   Chicago, April 1, 1900.




                               CONTENTS.


                               CHAPTER I.
              DISTRIBUTION OF WEALTH IN THE UNITED STATES.
                                                                   Page.

 Preliminary: opinions and views                                       1

 Conclusions of Mr. G. K. Holmes, U. S. Census Expert,                 5
 illustrated by diagrams and Table I

 Conclusions of Mr. Thos. G. Shearman                                 11

 Diagrams, Table II, and explanation                                  12

 Conclusions of Dr. C. B. Spahr                                       18

 Diagrams, Table III, and explanation                                 20

                              CHAPTER II.
                      STATISTICS OF WEALTH OWNERS.

 Statistics of aggregate wealth                                       27

 Economic classes of families analysed                                28

 Holders of wealth, tenants and mortgagors                            32

 Reciprocal comparison of contradictory classes                       39

 Comparison of the poor and the rich families                         42

 Right table resulting from comparisons                               45

 Comparison of families in tables of different authorities:           47
 averages of family wealth

 Illustrative chart showing worth of individuals                      50

                              CHAPTER III.
                THE PROPERTIED AND PROPERTYLESS PEOPLE.

 Fundamental difference in number of resources of the propertied      53
 and propertyless

 Sources of multiple incomes of the wealth owners                     54

 (Extent of mechanical forces applied to labor in favor of the        57
 wealthy)

 A propertyless man himself is a source of multiple expenses in       61
 favor of the propertied

 Primogen