Note 140 — Chapter V
Reading edition
"Wealth and Biography of the Wealthy Citizens of Philadelphia." By a Member of the Philadelphia Bar, 1845.
The misconception which often exists even among those who profess the deepest scholarship and the most certainty of opinion as to the development of men of great wealth was instanced by a misstatement of Dr. Felix Adler, leader of the New York Society for Ethical Culture. In an address on "Anti-Democratic Tendencies in American Life" delivered some years ago, Dr. Adler asserted: "Before the Civil War there were three millionaires; now there are 4,000." The error of this assertion is evident.