"Money goes where money is” is an adage of unknown authorship that has been cited in print since at least 1891. It explains how the rich (who have money to invest) often get richer and the poor get poorer. The adage also explains how New York City (Wall Street) became a financial capital.
Cassell’s Family Magazine (1891), “That Little Woman” by Ida J. Lemon, pg. 617, col. 2:
Money goes where money is, so does love.
9 August 1896, Philadelphia (PA) Inquirer, “Gambling in Europe” by Sterling Heilig, pg. 31, col. 3:
The bank playing a heavier game, falls also under the fundamental law of all gambling, which is that “money goes where money is.”
18 June 1910, Poverty Bay (New Zealand) Herald, pg. 5:
“There’s an old adage which proclaims that ‘money goes where money is,’ and Auckland, on its own modest admission, is already so blessed with the bounties of Nature and the beneficences of its individual enterprise that is not surprising to find that it is to be enriched spiritually.
A selection of the world’s proverbs arranged linguistically. With authoritative introductions to the proverbs of 27 countries and races.
By Selwyn Gurney Champion
London: G. Routledge & Sons
Money goes where money is.
A Little Tea, a Little Chat
By Christina Stead
New York, NY: Harcourt, Brace
“Money goes where money is, money yearns where money is.”
Freedom and Beyond
By John Caldwell Holt
New York, NY: Dell
To put it another way, in a market economy money goes where money is. Wealth tends to concentrate. Poverty, on the other hand, tends to spread, like a disease.
Letters to My Son:
A Father’s Wisdom on Manhood, Life, and Love
By Kent Nerburn
Novato, CA: New World Library
So if you want to make money, you do well to be near money. Money goes where money is. You need to rub against it so that it can rub against you.
Meltdown: Money, Debt and the Wealth of Nations
Volume 4 of an anthology of articles from the Journal of the Committee on Monetary and Economic Reform, January 2004 to June 2005
Edited by William Krehm
Toronto, Ontario: COMER Publications
For some time after the march Finnolly thought about wealth transfer. He devised what he later came to call the Servus law of Money: “Money goes where money is.” That is, the rich get richer and the poor get poorer. It was the law of the free market economy.
New York City • Banking/Finance/Insurance • (0) Comments • Thursday, March 17, 2011 • Permalink