In
our Library - where Books are free
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Chapter 3 - Progress and
Poverty -
From Poverty by James Platt
POVERTY. P48
"Facts" are too strong for the indictment against the rich, on behalf
of the poor, made by Mr. George in "Progress and Poverty." The annual
income of the United Kingdom increased from £819,000,000 in 1868,
to £1,065,000,000 in 1879. Of this increase of £246,000,000, the
working class, and those whose incomes were under £100 a - year,
received £123,500,000, whilst the classes with incomes of £1,000
and over received £63,500,000. The estimates of annual rental of
the land of the United Kingdom have risen as follows: -
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Books - Factual
Sociology
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1801
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£32,500,000
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1834
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£34,300,000
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1865
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£62,100.000
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1878
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£67,200,000
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What rate of interest do these "monopolizers"
get? According to Mr. Giffen, the capital value of land is £2,010,000,000;
the income, £67,200,000; or an average of about 3 per cent. If
the State bought the lot, how much less could it charge? Let us
compare the remuneration upon money invested in Consols for the
same period, with the certainty of 3 per cent. to the day, and
no trouble, and the possibility of gain by waiting for a favourable
time to sell. In 1804, Consols averaged 564, and we find a steady
advance in value; 1801-10, average 63; 1811-20, average 66; 1821-30,
average 84; 1831-40, average 89; 184150, average 92; 1851-60,
average 95; 1882, average 100. The income of the United Kingdom
has increased from £350,000,000, in 1815, to £1,120,000,000, in
1877; out of this immense increase, the owners of land have benefited
to the extent of £43,700,000 since 1801. Yet Mr. George, with
these facts open to him, deliberately asserts that "capital and
labour" have not benefited by our material progress, because "rent
swallows up the whole gain, and pauperism accompanies progress."
We will turn to the records of the Probate Court, and to the Registrar-General's
death-record, and compare the number of people dying who left
over £5,000, and the number of people
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© Peter Smith 2008
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