Mr Goschen on the Distribution of Wealth.

Evening Star, Issue 7429, 26 January 1888, Page 3

Mr Goschen on the Distribution of Wealth.

The inaugural address for the ensuing session of the Royal Statistical Society was delivered by the Chancellor of the Exchequer, before a large assembly of members, at Willis's rooms. In the course of his remarks he alluded to the growing force in our economic, social, and, he might almost say, political system of the middle class ; and it was, he maintained, always to the advantage of a State that the great central body of the community should be reinforced both from above and from below. The report of the Royal Commission on the depression of trade showed that the number of persons with ncomes of less than L 2,000 a year had increased more rapidly than that of the population, while incomes above L 2,000 had increased at a less rapid rate, and the number of those with incomes above L 5,000 had diminished. Of incomes under Schedule D ranging between Ll5O and LI,OOO, the number in the year 1887 was 317,839, whereas in 1886 there were 379,064, or an increase of 19.20 per cent. Of incomes between Lsooond L.1,000 there was no increase. I Owners of incomes below LSOO had not yet had time to accumulate money or time to die, and therefore they had not yet contributed largely to the probate duty. The business of insurance companies had increased from L 363,000,000 at the valuation before last to L 420,000,000 at the last valuation, that increase being chiefly in small amounts. On the test of dwellinghouses there was between 1880 and 1886 an increase of 19 per cent, in the number of houses of between L2O and L3O rent; while in the case of shops the tendency had been for large shops with large capital to oust the smaller ones. Statistics as to the increase of friendly societies, savings banks, and building societies were well known to experts, the deposits in savings banks in 18S6 having topped L 100,000,000. While some people were calling out for reconstruction of society on a socialistic basis, a silent process was taking place of the distribution of wealth over large areaß, which, from whatever point of \ iew it was looked at, was matter of congratulation. He hoped and trusted that the diffusion of wealth would be a source of greater comfort to increasing numbers of the community, and also of increasing powers in the stability of society and of our institutions.