THE WEALTH OF THE NATION.
Reading edition
The Census Bureau and Bradstreet's agency have made from the most accurate examination possible an estimate of the wealth and business of the nation: Aggregate wealth of the United States in 1880 was $43,642,000,000 (forty thousand and a half billions); the total amount of capital invested in business was $8,177,000,000 (over eight billions); and the number of persons engaged in commercial business was 703,828. Twenty-two per cent of all the business capital of the country is credited to the State of New York. Massachusetts ranks second, Pennsylvania third, Ohio fourth, Illinois fifth, and Michigan sixth. The aggregate business capital of these six States was $5,113,087,000, leaving to all the other States $3,063,923,000. The total recorded number of traders in the United States in June, 1880—those having distinctive position in the commercial or industrial community—was 703,328; a trifle over 40 per cent were in the Western States. For the United States as a whole the average amount of capital employed to each venture—as indicated by the aggregate of capital in the country invested in trade (as explained in the table compiled from the forthcoming census work) and the total number of individuals, firms, and corporations engaged in business—is, in round numbers, $11,600.
The wealth of the country is, or was June 1, 1880, distributed as follows:
Millions.
Farms$10,197
Residence and business real estate, capital employed in business, including water-power9,881
Railroads and equipment5,536
Telegraphs, shipping, and canals410
Live stock, whether on or off farms, farming tools and machinery2,406
Household furniture, paintings, books, clothing, jewelry, household supplies of food, fuel, etc.5,000
Mines (including petroleum wells) and quarries, together with one-half of the annual product reckoned as the average supply on hand780
Three-quarters of the annual product of agriculture and manufactures, and of the annual importation of foreign goods, assumed to be the average supply on hand6,160
Churches, schools, asylums, public buildings of all kinds, and other real estate exempt from taxation2,000
Specie612
Miscellaneous items, including tools of mechanics650
Total$43,642
It will thus be seen that the farms of the United States comprise nearly one-fourth of its entire wealth. They are worth nearly double the combined capital and equipments of all the railroads, telegraphs, shipping, and canals; more than double all the household furniture, paintings, books, clothing, jewelry, and supplies of food, fuel, etc. The live stock is more valuable than all the church property, school houses, asylums, and public buildings of all kinds; more than all the mines, telegraph companies, shipping, and canals combined. It would take more than three times as much "hard" money as the nation possesses to purchase all these domestic animals. The farms and live stock together exceed the value of any two other interests in the country.