ECCENTRIC OFFICIAL STATISTICS 99
such values represented no social wealth. For the same reason in any fair comparison of the later valuation with that of 1850 and 1860 we must also eliminate such property values as repre- sent only special privilege.
At the last census the value of all real and personal property in the United States amounted to $65,037, 090, 197.' Of this $39,544,544,333 was of real property exclusive of mines, quar- ries, telegraphs, telephones, and the exceedingly valuable land occupied by railroads. The mines were valued at $1,291,291,- 579, and the railroads at $8,685,407,323. Of this property prob- ably considerably less than one-half represents the cost of improvements, or wealth created since the first white man landed on our coast. The land is the endowment of the Creator and its increase in value does not represent an increase of wealth on the contrary, with forests and mines and the fertility of the soil to a large extent exhausted, there is a decrease instead of an increase of wealth of this character. Could the few be enabled to preempt the air as they have the land and compel us .to pay for the privilege of breathing it, we should have an increase of property values which Colonel Wright might with equal propriety quote as conclusive proof of increased equality of opportunity.
H. L. BLISS.
CHICAGO.
1 This includes property owned by foreigners. The value of such property was estimated by Giffen at one billion pounds sterling in 1880.
