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nydus/The History of the Great American FortunesPublic

This work examines the origins of large American fortunes by analyzing the social and industrial systems that facilitate their accumulation. The author seeks to move beyond both celebratory narratives and sensationalist critiques to provide a factual, systemic interpretation of how these vast concentrations of wealth are formed.

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Table of Contents

CHAPTER VI

A considerable portion came from business buildings and private residences on much of the very land which New York City once owned and which was corruptly squirmed out of municipal ownership. For the large rentals which they were forced to pay, the business men recouped themselves by marking up the prices of all necessities. Another, and a very preponderate part, came from tenement houses. Many of these were also built on land filched from the city. And such habitations! Never before was anything seen like them. The reports of the Metropolitan Board of Health for 1866, 1867 and succeeding years revealed the fact that miles upon miles of city streets were covered with densely populated tenements, where human beings were packed in vile rooms, many of which were dark and unventilated and which were pestilential with disease and overflowed with deaths. In its first report, following its organization, the Metropolitan Board of Health pointed out:

The first, and at all times the most prolific cause of disease, was found to be the very insalubrious condition of most of the tenement houses in the cities of New York and Brooklyn. These houses

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