Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1875-03-05

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/ How tO live upon nothing J, one Of t..s
most Difficult; problems y hich the poor. in g.
large city. have TO solve IL j. more than
| probable that none Of them have ever g.
| compl.shed the task, although many have
/ come - near toward success A. nature,
/ under the most favorable circumstances.
viii permit. People who have abundant
means often hnt i, tificult to live; but
| then the difficulties are Of their ONE MA kin =
and can readily be cleared away it only
there be good Will to help the worS 1t
I is not 80 with the poor With them the jill
fculty l. t0u often beyond their control and
how they manage to meet i, j.. as We thiak
viii rca 1liy b. admitted Oisen source at
wonder TO their more prosper u uei-hho-s
Bot dilEcIlt a. the proposition intrinsic
ally Is. some Shrcwd business men in Lon
don have taken hold Of it, and company
has been formed which undertakes - give
practical proof Of the possibility Of solving
il very literally The Directors of this
company show in their prospectus that,
under certain conditions, - live upon moth
inc j. really matter Of no difficulty what
ever IL only requires 4 little time and iinar-
Cierln-. anu We must ~ay that their prupO-
siti1u t. . say the least OF Il, ingenious Il j.
based upon the idea ot amaS>ing the listle
items OillS .aunt which are generally rec lect-
cd by rea ~ money purchaser. .Tud investing
them az compound interest. The company
slpplie- merchants aud stJrekcsper- wi;h
coupons representing sums OF money iroai
tGelye cents To FIVE dollars. charging Il pre-
MUM IF FIVE per cent. upon their uOnina.
value, which premium represents the DR.
count for cash. Any person iaviug 1ut
money with such merchants may. by ask
3 trt- ltr h.rV . 80 -
amount he ha> txperiet. A. soon II Ice
has accumulated coupons e. the yaiue 3D.!
S25 he RENTS them t. the company. aLt IA
retarn receives a hand Of the -ame value,
signed by t~O directors, rydocmabie sooner
or later Without any deductions. The FIVE
per cent premium paid By tho merchant Gn
receiving the coupons in the first instance
heinz allowed to accumulate at compound
interest. constitute the iurd OGt rf which
this result i u he ohtaincd. a. well ~ that
from which the working expenses { the
company are to be betrayed
The rationale OF tni> proposal is simple
enough. Supp1s- that . GeI>0n lay out S25
with his grocer. lie receives Mt the same
time cIup pun- Ol the same iaee-vaiue, which
the company exchange for s25 bond. The
premium paid uu thuS.; coupons Wa about
81 p, which. invested ~ only hye per cent
compound interest. would Weld in seventy
five wear. >0uleN here about doahls the
amount Il the bond. The company nave
recognized the objection that pcnplc will
not care to wait seventy-fye years for the
return of their money they have. perhaps,
oyerrated this but they propose o. meet 1t
by setting apart portion OF their annual
receipts to redeem some of the bonds every
half year. which would accomplish tue OBJ
ects of tie company % some extent almost
Immediately. and people would begin to
have all the money thev have laid out Tor
provisions restored 10 them.
As We have said, the scheme l. certainly
ingenious. Ii has these advantages, too /:
Very little capital is needed. and tie pub
lie, who are TO bentfif bv il, invest noth-
ing. The merchant. who buys the coupons,
viii he glad to do - for the in
creased business that comes to him in
consequence, and. after all. ho l. only
spending the discount allowable on cash
transaction. tie is not money out Of pocket
Neither do We think that the holders OF the
bonds need object 70 the time they may pos
siby have to wait for their redemption
They have cost them nothing, and Ihey viii
at any rate serve a. an acceptable legacy at
the death Of the first holder. They rep-c-
sent, practically, in fact, an lnvestlGeut #
nothing, Nnlcu III uuc ltmc viii nave Dc-
come equivalent to the entire Dutlsy for liv
ing of the first owner ot the coupons Sup
posing that the existence Of the can l.,ny
Is permanent, the redemption ot Ihs bunds
will continue 10 be sourue oi Livelihood +,
differing oniy from the original value by
any altered value ir money that may have
ensued since the bonds were issued IL may
also be reckoned that manv bonds and cou-
pons will. from various causes. get lost or
DESTROYED. all of which will be 50 much
strength 10 the company to enable !. sooner
to ful,ill its obligations
Such, however is the general outline Of Z
proposal which, for one 50 simple. is little
curious, and We shall watch with some in-
| terest Tor its results. For it is not merely
theory We understand that the company
is rapidly extending its operation in Lem
don, where already some hundreds ot reial
houses are prepared to supply the eogp3ns.
If the plan succeeds, and With honest man
agement there seems to be no reason why it
shouid not, II il not likely to be limited to
the British metropolis-N Y. Times
Mrs. Jones complains sthat her husband
will not understand the state of things
caused by the freezing Of the water pipes.
He said they could get along we'll enough
:. Get along why. what 3 to be done about
the washing n exclaimed Mrs. j. in an irri-
tated manner. az Oh" replied Jones. get
ting an idea, - you can't take the washing
Straight can your ii't ~ 's