Ideas for Boys (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1915. Excerpt: ... VALUE OF PROPERTY IN THE UNITED STATES. Under the laws of the United States various corporations doing business in the United States are required to make annual reports to the Federal Government and to pay a corporation tax. The annual report of the Commissioner of Internal Revenue for the year 1913 shows the capital stock of the corporations in the United States amounts to nearly $62,000,000,000, and the bonds, etc., of these corporations amount to nearly $35,000,000,000, the total capitalization of these corporations being nearly $97,000,000,000. The United States census for 1910 places the total value of farm property in the United States at about $41,000,000,000. The bonds, etc., of the Federal, State and The value of other property in the United States, such as city and town real estate and business conducted by individuals and partners, etc., may be roughly estimated at $50,000,000,000, which makes a total of nearly two hundred billion dollars, about one-half of which represents the value of corporation property. The owners of all this property receive income each year from their property, which totals about six billion dollars, and if this income should be divided equally between the 100,000,000 people who live in the United States each person would have an income of about $60.00 a year, but this sum of course would not be nearly enough to support persons in civilized life. What would happen if we all lived on income from property without working? Civilization would soon end. The wood in the homes and buildings would soon decay and crumble. The plows and the machinery on the farms would soon be destroyed with rust. The engines and rails permit persons or things to be long idle and continue to live or be useful. Most men work from necessity. We must...