Page:Walter Renton Ingalls - Current Economic Affairs (1924).pdf/160

146 I divided my estimate of the physical wealth at the end of 1920 according to heads. A condensation thereof is as follows, in billions of dollars:

An itemization of the industrial property, including public utilities, as of the ends of 1916 and 1920, is as follows. It will be observed that in these estimates the value of the railways of the United States is put at a much higher figure than was tentatively allowed by the Interstate Commerce Commission.

Of the above enumerated wealth a good deal may be allocated as being of general ownership besides what has