Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1872-10-31
INTEREST.

weloas ago determined that !, should se&
Be our fauit if our readers did not scoa
better appreciate the. ..accumulaticns Of ia-
serest. and how impossible il 10 for any
business to long pay current high rates.
Possibly some have almost tired OF seeing
our off-epeated table about the aeeumula-
tons Of one dollar at different rates Tor q
hundred pears. Buts tired or not, Il 10 .
healthful sight; and Jsvery Business myes
especially ought to have that table where
1t viii E;eet his eyes at least once q week !;
aud even then it is probable he viii allow
many dollars unnecessarily to sccumulate
their interest agains, him. This may be
in dead stock. in unnecessary fixtures. or
in various expenses easily dispensed with.
Ii he would be successful. he should count
the interest he might receive as well a. that
| he has to pay.
Especially in making permanent invest.
ments let no one forget the interest account.
However familiar with this subject. there
are probably few who would not be startled
at tue statement that the cost Of the outfit
of Christopher Columbus in his frat voyage
ofdiscovcry. put at interest at six per cent,
would by this time have amounted TO more
than the entire money ralse cfMis c5r,i-
nert, together 'cih the Accommodations from
Il; i':dsstry Of all rho hare iired upon Il.
II any doubt this. let them reckon tho
amount. estimating the entire outfit to have
cost only the small sum of Eve thousand
dollars. and remembering that money
doubles. ct six per cent, in = little. less
than twelve yeE.s-cr accurately. in elev-
On years, ten months, and twenty -one days.
Allowing it to double. twelve years, this.
five thousand dollars at interest at six per
cent, since 1899, it will be found. would
have amounted to gil. 1895. 700. 900. 900.
which. estimating the population Of the
entire continent Of America to be eighty
ive millions or seventeen million families
averaging 6Ve members each) would give
more than million as the possession Of
every one Of these. The interest upon .
million dollats at six per cent, il sixty
thousand dollars. which would be the
rrinccly annual irecme Of each os these
seventeen millions families from the accu-
mutations upon % small . sum % that
named for the outfit of the discoverer.
We are glad to see the following COM
putation going the round of the press:
"One thousand dollars loaned at 6 par
Ct. in IL years win accumulate TO q, 900;
in "a years to "a. 900; iu-- 80 years 70
$s. 600 in As years to SIG. 900; in 60 ycars
to So, 600; in - years to S6i, 900; in
81 years to GIGS. 600; in So years to
S256. 900; in 1Os years % S5l2. 600 !;
In 40 yeass to 81, ,024, 900. Multiply
this sum by 1.O24 and it will give tho
accumulation for l2D ycars more. or Sl.-
04s, SIG. 900. ,Multip,7 this product by
l .024 aud We shs.l have the accumulation
during the next 120 years, or total pe-
riod Of $50 years-el .O78, TAI ,S24; 600
-one trillion. seventy three billions,
seven hundred and forty lone millions,
siss. hundred and twenty-four thousand
dollars. -. ;.,
This IS rather an iucomprehensibls
amount for even . nation to manage. but
perhaps We can make use Of ono yeats in
tsrest on the sum. which amounts 70 k6A,-
4a. 500. 440. or over $50 minute II the
age Of the world. allowing il 70 b 200
years old. Or if this calculation d Too
complicated 70 be readily spprehsndsd. ws
can take the interest OF it for four months
and pay of our whole national debt"
Our table Of the accumulations Of ono
dollsr. alluded to ahovo. 1e again subjoia
for the benefit Of any who may percbanes
never have seen it. as we'll Is, those who
have net as yet fully considered the i'm
pofians lesson IL teaches
If one dollar be invested. and tho inter.
est added to the principal osnaally, at Tho
rates named, We shall have the following
result as the accumulation Of one hundred
Years: