Dynastic America, and those who own it - 1921 - Klein, Henry H

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Online TahoeBlue

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Reference: Wealth Disparities in U.S. Approaching 1920's Levels

Dynastic America, and those who own it ([c1921]) Author: Klein, Henry H., 1879-1955

This book is dedicated to those who  believe in Constitutional Government of, by, and for the people.
...

Rockefeller is the Colossus that bestrides the world. The Rothschilds in Europe, whose wealth is estimated at Two Billion Dollars, and the Guggenheims, DuPonts, Vanderbilts and Astors, whose family possessions approximate half a billion dollars each, are subordinate to Rockefeller.

In a single lifetime, John D. Rockefeller has amassed a fortune greater than that of any other individual or family. His wealth is estimated at TWO BILLION, FOUR HUNDRED MILLION DOLLARS, including the holdings in the Foundations.

[ This is equivilant to approx. : 3,600,000,000,000 or 3.6 Trillion Dollars today ]

Mr. Rockefeller is worth one billion dollars in oil alone. His railroad holdings are estimated at $400,000,000. His holdings in industrial corporations outside of Standard Oil, are appraised at $400,000,000, and his interest in gas, electric light and traction, is fixed at several hundred millions more. He has several hundred million dollars in bonds of the United States and other countries and in the bonds of cities and states. He owns many millions in real estate and mortgages. Part of this vast wealth is held in the Foundations.

When Mr. Rockefeller dies, his estate will show far less than he owns, because a large share of his fortune has already been transferred to his children.

A Classification of American Wealth - History and genealogy of the wealthy families of America

The Walsh United States Industrial Commission investigated incomes and excessive private fortunes and reported in 1916 (pp. 32 and 33), that the wealth of the nation "has become concentrated to a degree which is difficult to grasp."

Quoting Prof. William I. King, it says: "the 'rich' 2% of the people own 60% of the wealth; the 'middle class" 33% of the people, own 35% of the wealth; the poor 65% of the people own 5% of the wealth."

The report continues :
"The actual concentration has, however, been carried much further than these figures indicate. The largest private fortune in the United States, estimated at $1,000,000,000, is equivalent to the aggregate wealth of 2,500,000 of those who are classed as 'poor' who own on an average about $400 each.

An analysis of 50 of the largest American fortunes shows that nearly one-half have already passed to the control of heirs or to trustees (their vice regents) and that the remainder will pass to the control of heirs within 20 years, upon the death of the 'founders.' Already these founders have almost without exception, retired from active service, leaving the management ostensibly, to their heirs but actually to executive officials upon salary."

As illustrating wealth concentration, Basil M. Manley, who was director of Research and Investigation for the Walsh Commission writes :
"I examined in the course of my investigation every stockholder's list made public in the last three years, about 300 all told, and found that taking them all together big companies and little companies, banks, railroads and industrials less than 2 per cent of the stockholders, owning 1,000 shares and over, hold more than 50 per cent
of the stock.

William L. Harkness died in 1919, leaving $55,000,000. His brother, Charles W., left $170,000,000 in 1916 and his brother, Lamon V., left $100,000,000 in 1915. Here are $325,000,000 left to heirs in six years a compact mass of wealth sufficient to destroy the very foundation of this republic if wielded in that direction.

Lincoln, in the midst of civil war, saw the menace of private monopoly when he wrote :
"As a result of war, corporations have been enthroned, and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands, and the republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of war. God grant that my suspicions may prove groundless."
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Online TahoeBlue

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Re: Dynastic America, and those who own it - 1921 - Klein, Henry H
« Reply #1 on: December 13, 2013, 02:10:12 PM »
https://archive.org/details/standardoilorpeo00kleirich

Standard oil or the people : the end of corporate control in America ([c1914])

Author: Klein, Henry H., 1879-1955
   Subject: Standard Oil Company
 Publisher: New York City : H. H. Klein
  Possible copyright status: NOT_IN_COPYRIGHT


"Save your pennies," says John D. Rockefeller.
Is there anything else left to save ?


The United States is passing through an economic crisis which means freedom or slavery to the people. The
present hardship is due to the fact that corporations, not the people, controlled the government.


Standard Oil has been the chief factor in the affairs of the nation and conditions are largely what Standard
Oil made them. The author here endeavors to tell exactly what these conditions are. He also presents a program
for the permanent cure of "hard times" in America.

In the hope that this cure will be adopted and that prosperity will be restored, this book is offered.
...

April 11, 1914.

A halt must be called to the greed of Standard Oil before it is too late. The nation is impoverished and the warning of other countries should suffice.

In Sparta eight hundred years before Christ, wealth was concentrated and the people poor. Lycurgus, the lawgiver, redistributed private property and provided common eating places for all the people.

Such a redistribution is impossible in America to-day.

...

And more business failures due to "hard times" than ever before in the land All because a few "great" men needed a panic in 1907 to possess themselves of wealth belonging to others and because "big business" coveted the riches of other, smaller, concerns. The "panic" achieved both ends.

There is little or no "come back" left in the nation to-day, because the few who had great wealth have acquired virtually everything of value.

They own the principal railroads, mines and public utilities, and they own the leading industries. They own even the money of the people, through the banks and other -financial institutions which they maintain.

Such is the condition in America to-day that a large part of every dollar spent goes back to these few rich men and only a small portion of it remains with the people.

For that reason there is no prosperity for the masses.
...

As a financial factor, Standard Oil is the greatest power in the civilized world. The combined wealth of Rockefeller and his associates is greater than that of the
Rothschilds, and it has been produced in only one generation.

Their influence is sufficient to overthrow the government and destroy civilization itself
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Offline Owais

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Re: Dynastic America, and those who own it - 1921 - Klein, Henry H
« Reply #2 on: November 08, 2014, 03:31:38 AM »
Yeah it is great book and i feel like reading more like this book.