nominated by the general term of "spent" money.
The other stream of wealth flowing to the rich is what is termed "saved" money, and goes into the building of new machinery of production, new railroads, canals, iron furnaces, mills, etc. It is this last channel for the "saved" money that has been the great sluice-way for carrying off the surplus product of labor and so avoiding the constant menace of a plethora in our industrial system.
Notwithstanding that the prodigality of the American rich in unbounded luxury is the wonder of the ages, still the percentage of the very rich is so small (three one-hundredth of one per cent own $12,000,000,000) that all their efforts in lavish "spending" have had little effect economically compared with the wealth they have been forced to "save" owing to lack of ingenuity in discovering modes fer "spending." There is a grim satisfaction in the reflection that the "saving" capacity of the nation is increased by this concentration of wealth. Thrift is no longer a difficult virtue when it requires more labor and pain to "spend" than it does to "save," and this is the predicament of the very rich Americans.
No man cares for two dinners, and when Mr. Rockefeller with his $40,000,000 a year income "spends" over a thousand per day on his household he finds it probably both pleasanter and
