The Hickman courier., 1872-10-12
interest.

Lsnc ago we determined that 1t
should not be our fault if our read
ers did not soon better appreciate
the accumulatiohs of interest, and
how impossible it is for any busi-
ness to long pay current high rates:
Possibly some have almost tired
seeing our oft repeated table about
the accumulations of one dollar at
different rates for hundred years,
But, tired or not, it is heathful
sight; and every business man es-
pecially ought to have that table
whore it will meet his eye at least
once a week; and even then it Is
probable he will allow many dol
lars unnecessarily to accumulate
their interest agsiat him. This may
be in dead stock, in unnecessary fix
lures. or in various expenses easily
dispensed with. IF he would be
successful, he should count the inter
est he might receiue as well as that
he has to pay
Especially in making permanent
investments let no one forget the
interest account. However familiar
with this subject, there are proba-
bly, few who would not be startled
at the statement that the cost OF the
outfit of Christopher Columbus IN
his first voyage of discovery, put at
interest ut six per cent, would by
Trs----+r.1r,l have nu1Uuurc-t m ore
than the entire a,15neg UdIite OF fels con-
tinenL to0etJier tcith the accumulatsOns
from The industry of all lCho haze fiC-
ed upon Il. If any doubt this, let
them reckon the amount, estlmat-
ing the entire outfit TO shave cost
only the small sum Of five thousand
dollars, and remembering that
money doubles, Mt six per cent, in
a little less than twelve years-or
accurately, ID eleven years, ten
months, and twentS-one days. AL
lowing it to double ever twelve
years, this five thousand dollars at
interest at six per cent. since I492,
it will be found, weuld have amount
ed to S17, 7,895, 100000, 600, which, es-
timating the population of the en-
tire continent of America to be,
cighty-fve millions, or seventeen
million families (averagingr five
members each) wouid give more
than a million dollars as the posses
sion of every one OF these. The
interest upon u million dollars at
six per cont. is sixty thousand dol
lars, which would be the plfncely
annual income of each of these -sey-
enteen million families from the &C.
emulation upon so small sum as
that named for the outfit of the dis
eoverer.
We are glad to see the following
computation going the round of the
press:e
Zone thousand dollars loaned at
6 per cent, in L years will accumu-
late to $4,000; in "a years to ST.
600; in 36 years to $4,000; in IS
years to $4,000. in 60 years to $780,
900; IN y years to $4,000; IN 81
years to 1928, ,OO9; in SO years to |
1856 600: in los years to $4,000; (
in 40 years to $l,024, ,000 Multi /
ply this sum by 1,024 and it viii give .
the accumulation for 120 years
more, CT $1,04S, ,576, 900. Multiply 1
this product by 1.024 and we shall I
have the accumulation during the /
next 120 years, or total period of
360 years-Sl, ,073, 741, ,S24, ,010-one +
trillion, seyenty-three billions, seven
hundred and forty-one millions,
eight hundred and twenty-four
thousand dollars
This is rather an incomprehensi-
bic amount for even a nation to
manage, but perhaps we cam make
use. of one years interest on the sum,
wDIcn amounts TO SOD, ,4Z4, sos, 40,
or over $40 minute for every min
ute in the age of the world, allow
ing tito be 6.6000 years old. Or if
this calculation is TOO complicated
TO be readily apprehendeed, we can
take the interest of it for four
-"onths and pay off our whole ma
=. 1ebt-
ional - ~, i the aceumulations of
Our taD!e u csIl,uo,d to above, we
gain subjoin fol the ayer Denea have "a seag aag
Who may perchance Ii "A not as
t, as well as those who ha. .tant
ret fully considered the impo-
esson it teaches. +.
If one dollar be Invested, and the
interest added to the principal an
aually, at the rates named, we shall !.
nave the following result as the ac-
of one hundred years;
)ne Dollar. 100 years, at PEI, cent So