The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1875-12-11
ChegnteIIi9enesr.

------
gQUEsnOE OF INTERFERING have
,.criyed a copy OF u pamphlet letter to
n, secretary OF the Treasury by PIiny
freeman. E-l, In this pamphlet he dis
1..c, claborateIy the question OF inter
r.ton money, and as that Is topic now
oplqr discussion in our West Virginia
s,i,Iaulrc perhaps some extracts in
,,,arl to 1t will he read with interest by
,ls members, On page IA he Introduces
some important facts and figures on this
.abtec,. lie says, among other things, that
many persons CarGlessly infer that the
increase OF money at GpeF cent is just
twice as rapid at three per cent, but in
reality the increase Is vastly more FaPlu
than this, In one hundred years, at SIX
cant tbe'increase on any given sum
y" , ,,, ,;,L,oor ,imos ns much ns M
a''"' ''s n, ,Ion ,,;,,", ,,rIo T.,
three per cent i'o '"'" s''' '"o'V ''
shich be shows the interest on one dollar
h, hundred Years at various per cents
,'.,,, Aisiv NOR cant tho ann totoI
l"'''s," s,,, ,,., ~, ,.,,, ,an, :, MI, h.,
will be S5iO' O''' NJ l. Pe' ee"' II WIZ pe
s. 1875, while at2i per cent 1t Will be
| 40 iiI 7yolOI,
.,,, !, ,he incroosc of money bv
20 oB'ea' " VI, "' I =. ~
virtue oI interest 'l"' Tue ""."oI a"yS
that il the cost Of the outfit OF ChristO'
Ma, Columbu,, in his first voyage of dis.
"' laIIoor mn, n, ir,orost a, n mar
over, """ 'I." ', -, -, ..,,,, H..
cent, II "O"'" "o" a''o"n' W "'o'e '''"
he entire money value oil this continent,
rclndinO the accumulatiOns from the in.
....9 II, ,.l, Lovo I;vod u,on I,
'u'H! u ''' ""' ""'> ''e' nv" "
III any doubt this, lot them reckon the
,monnt, estimating the entire outfit to
have cost only the small sum OF five thon-
and dollars, and remembering that
money doubles, at six per cent, In a little
E. than twelve years--Or accurately, in
leycn years, ten months, and twenty'One
y.. Allowing 1t to double every twelve
,ear., this five thousand dollars ut inter-
.l at six per cent since l4O2, 1t will he
onnd would have amounted to SIT 7,SO6,-
|OOOOOOOO; which, estimating the pOpnla.
ion Of the entire continent OF America
North and South to be eighty'tiye mil
Millions or seventeen million families
averaging tIye members eaGhl, WouIu
,..o,ai"n ~. ,a"'S ai AZ" "vory nm" oi these ThO
| interest upon million dollars at six
er cent is sixty thousand dollars, which
olld now DO 'he PrlhceIy ahnua' income
y1," i,am " III" "''v "cc,,m'ISlio" mn IN this
me upon so small a sum AZ that named
OF the outfit Of the discoyerer.
"ln iIIIdrelh,' History 3l the United
,ilsrw,rI ,tts "r' ''"y r"lIoJ I'i Ns% Am.,rr%a%
ON the Civ Of New YOrk--was bought
y the Dutch from the Indians, for sixty
alIders, or iIeHiy:tour dollars va Gi and
aus. o"g "0y' Hnd '"U "ot U II ,he rrchosers @
| |o@M haye securely placed that S2I
here it would have added to the princi-
II annual interest at the rate Of Z per
ant., the accumulation would exceed the
resent market value Of all the real Gs-
te Of the City and County Of New
ork
By way Of still further illustration of
ono,ro. ofin,o.o,, o,oor,r,,o,o ,l,o an.
'P'"'' " VI ''''e'S'' '"".V''"'e''''," ."
of oil tic pamphlet before us introduces
e eexample Of n man who at 20 years Of