Salt Lake Telegram | 1932-02-13 | Page 10 | Gains in Wealth, Income Show Nation's Progress

Gains ns in in Wealth In Income come Show zo w Nations Nation's s 's Progress UNITED STATE NATIONAL WEALTH EXPANDS 1930 By y ALLARD ALLARI SMITH Executive Vice President the Union Trust Company Compan Cleveland Cleveand Statistics of national wealth and national income offer oHer conclusive e proof that despite its it occasional setbacks setbacks setbacks set set- backs the United States is steadily progressing in the general scale of prosperity National wealth for 1930 1030 according accord accord- ing ig to a statement prepared by the national Industrial conference board was vas Wi wh while e national income was This I would be at the rate of oC 1061 capital capi- capi al tal tl and 2366 income for each family in n the United States Compared w with h 1929 wealth showed a loss of 89 per cent while the decrease decrease decrease de de- de- de crease in Income was 16 per cent cent This represents represent shrinkage of values and md prices and decrease of earning power from 1929 to 1930 The last receding preceding estimate of national wealth was in 1922 When we ve go back to the figures of 1914 1014 however we see sec what the general general gen gen- eral cral progress of the country has been over even a comparatively short term of years years In 1914 the wealth of th the nation naton was estimated at this figure gure being based on th tire the distribution of wealth by states an and excluding nationally owned wealth On the same basis the wealth i in 1930 showed an increase of 71 7 per pc percent cent cent Expressed In I the value of 1913 dollars the wealth in 1914 was and that of 1930 an increase of 35 per cent which certainly represents represent the minimum minimum minimum mini mini- mum ph physical sia growth of our national assets When we add to this evidence o of increasing wealth the thc fact that th the increase in the national Income fo for forthe forthe the same 16 years from 1914 to 1930 expressed in the value of the 1930 dollar dolar was 14 per cen cent we get a fal fair understanding of the pace at which notwithstanding recessions the na na- na- na been steadily forging ahead