American Indian Wealth in the Early Twentieth Century

Abstract

We use data from the Bureau of Indian Affairs annual reports between 1912 and 1927 to examine the wealth of Indigenous nations in the contiguous United States during the early twentieth century. Our estimates reveal considerable heterogeneity in wealth holdings across Indigenous nations. In 1912, the average real per capita wealth of Indigenous nations was high relative to other groups, but it declined systematically throughout the period of our study. Given the available contemporary evidence, our estimates imply a dramatic widening of the wealth gap over the last century.