Political institutions and their offspring in the form of laws being generally in the control of the trading class, the conditions were extraordinarily favorable for the accumulation of large fortunes, especially on the part of the shipowners, the dominant class. The grand climax of the galaxy of American fortunes during the period from 1800 to 1831--the greatest of all the fortunes up to the beginning of the third decade of that century--was that of Girard. He built up what was looked up to as the gigantic fortune of about ten millions of dollars and far overtopped every other strainer for money except Astor, who survived him seventeen years, and whose wealth increased during that time to double the amount that Girard left.
[49] "The Astor Fortune," McClure's Magazine, April, 1905.
[50] Innumerable were the sermons and addresses poured forth, all to the same end. To cite one: The Rev. Daniel Sharp of the Third Baptist Meeting House, Boston, delivered a sermon in 1828 on "The Tendency of Evil Speaking Against Rulers." It was considered so powerful an argument in favor of obedience that it was printed in pamphlet form (Beals, Homer & Co., Printers), and was widely distributed to press and public.
[51] Various writers assert that twenty dollars was the average minimum. In many places, however, the great majority of debts were for less than ten dollars. Thus, for the year ending November 26, 1831, nearly one thousand citizens had been imprisoned for debt in Baltimore. Of this number more than half owed less than ten dollars, and of the whole number, only thirty-four individually had debts exceeding one hundred dollars.--Reports of Committees, First Session, Twenty-fourth Congress, Vol. II, Report No. 732:3.
[52] In his series of published articles, "The History of the Prosecution of Bankrupt Frauds," the author has brought out comprehensive facts on this point.
[53] The eminent merchants who sat on this committee had their own conclusive opinion of what produced poverty. In commenting on the growth of paupers they ascribed pauperism to seven sources. (1) Ignorance, (2) Intemperance, (3) Pawnbrokers, (4) Lotteries, (5) Charitable Institutions, (6) Houses of Ill-Fame, (7) Gambling.