Crossword Genius

Wherein the poor total is about a pound? (4)

Ross

I believe the answer is:

slum

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'wherein the poor' is the definition.
I can't tell whether this defines the answer.

'total is about a pound?' is the wordplay.
'total' becomes 'sum' ('sum' can be a synonym of 'total').
'is about' indicates putting letters inside.
'a pound?' becomes 'l'.
'sum' going around 'l' is 'SLUM'.

Can you help me to learn more?

(Other definitions for slum that I've seen before include "Squalid, overcrowded dwelling" , "Ghetto" , "Run-down area of city with tenements" , "Poor-quality accommodation" , "Squalid neighbourhood" .)

I've seen this clue in the Evening Standard.
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