The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1857-06-03

one dollar has the same ratio to the per
cent. of any number of dollars, that one
dollar has to the required number of dol
lars s7
Z, The practical utility of this principle
is So generally known that it is useless to
pursue it farther In concluding the re-
marks upon this subject it is pleasing to
revert to the fact that o great increase of
knowledge on this branch has been dffus-
ed among the teachers Of this county within
a few years past. Entering school now
our ears and understanding are no longer
shocked with such demonstrations of the
rule as, multiply the second and third
terms together and divide the product by
the first, if more requires more and the
converse of this if more requires less.
The involution and evolution of roots
are important principles of arithmetic.
1t is difficult, however, to illustrate them
by the present means. 1t is thought that
the name of root was first applied to this
branch of arithmetic, because it is neces-
sary to seek the source, as it were in either
case. The word root is derivatiye from
radiz having a meaning similar to source,
fountain, &c. 1t would only consume time
aud space to give an illustration of rails
ing number to a given power, or extract
its root, therefore, it is here omitted
is, doubtless, no part of arithme-
tic which should oe more thoroughly un-
derstood by every business man than that
which treats Of the subject of interest.
Nothing in this progressive and money
loving age SO strikes the affections or en-
cages the attention of mankind, as the
acquisition and accumulation of wealth or
money This desire is a ruling passion
among men, pervading all classes, from
Prince down to the peasant. this has al
ways been the case since the possession Of
property and ownership, was recognized
Iby civil law. 49, saE
Being the chief object of pursuit among
men, it should be regulated by uniform
rules, aud governed by the same uniyer-
sal usage wherever found. This, it must
be said, is not the case, its value, in some
places, is made uniform by legislative en-
actment, though its use, whichis the pres.
ent object of discussion, is still left an un-
defined and arbitrary matter among men
That specific and general rules should be
established for the computation of inter.
est seems to be demanded by age is quite
apparent, and their absence has long beer
felt as loss in commercial TRANSACTIONS
No uniform rule for calculating interes
fexists in this country, and the many meth
1 DDS in use, serve to illustrate the necessi
ty of uniform fixed rule.
/ There should evidently be some unifor
nifty in this respect, as the result obtained
by calculating the interest on given sun
of money will be different according t,
1 the method of computation. This differ
ence is greater in money due at difieren
times, and at irregular payments. Gu
students in arithmetic are perplexcd a
finding SO many rules in our textbook
!, for counting interest on those deferre'
payments. If the teacher is asked to ex
plain this difficulty, it is an unpleasan
task, because he, can give no reason VIII
there should be any difference in countin
, interest on payments Of this kind. Will
! uniformity has been sought and obtaine
in matters of secondary Importance, thi
question has not received the attentio
which its Importance demands. Specif
3 rules are established for calculating gov
2 ernment interest, yet there is no approx
III fho nc
: States. But little attention has been pal
t to the subject by the Judiciary of th
!, country, thus far, and while diplomatic il
9 te:course and international compaets hav
: contributed to the advancement of huma
4 industry in a variety of ways, little hs
y been done through this channel to max
i the use of money as universal as its valu,
q 1t cannot consistently be said that this
S minor question, because the credit sy'
e tenn in this country is carried on to an e,
travagant extent.
:, The rate per cent. of money. though
some Importance, is not the most impor
If ant part to be considered, but it is til
e manner of calculation that requires col
S siderate attention. No reason belle,
n can be assigned why the interest on su
n of money loaned should be due at the tin
# of lending the money. at the end of thre
s six or twelve months, or any other tin
is intermediate to the time of payment. II
/ true way it is thought is to consider tt
= interest due at any, all times, that is
every instant and thus be continual
'e augmenting the principal and itself dra1
> ing interest.
L Could system of this kind be on
l. introduced all misunderstanding would
% at an end, and perfect uniformity o
le served in all money transactions. Pc
= sons not unfrequently vio.ate the usu
n laws ignorantly, owingto diversified mea
y of computing interest as has already be
g observed different rules Of counting t
interest will give differentresult. Whe
of a rule is legalized it is not generally q
8, derstood, as every person is apt to lea
of this arithmetic and does not look to q h
u book for the information which should
ne in our arithmetics. On the whole CO