Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1876-03-13
LEGISLATIVE.

The Virginia House Of Delegates has passed
the Senate bill to confer upoo the Corporation
Court for the city of Alexandria jurisdiction to
remove from Office justices and constables Of
said city with Senate amendments to House
amendments.)
On Friday Mr.. Purcell introduced resolu
ton, which was referred, to amend the cleo
ton law so as to provide for an election Oh the
4th Thursday of May, 1876, to fill vacancy in
the Office of Commonwealth Attorney for
Prince William county.
The State Seuate, in striking out the 56th
section Of the present inspection laws, relieves
the exporters from having inspected the to-
bacco they send from Virginia abroad.
The Senate bill amending the act lncorpo
rating the Virginia State Agricultural Society,
30 as TO allow it to mold 5000 900 worth of
property, 10 which might be Included one hun.
dred acres Of land exempt from taxation, was
defeated 10 the House Saturday. A motion
was however, made to reconsider, and the
motion passed BY.
The tax bill was again under consideration
in the House on Saturday. The prloclpal
changes made in the committees bill were that
the tax on steamboats, was fixed at one per
cent. on gross earnings Instead OF at two per
cent, aud stockholders 10 toll bridges, &C.,
we're relieved from personal responsibility Tor
the penalty that may BIO incurred by these Cor
poratious 10 the event of failure on their par,
to comply with the law requiring reports.
RULES FOR CALCULATING INTEREST. a
correspondent of the Richmond Dispatch says ::
In talking with gentleman on the above
subject in reference to rule which had been
published I observed that this rule, though ar
bitrary, seemed to be rapid method OF cacu
latng. He thereupon mentioned a rule which,
though not original with himself, he was sccus-
toned to use-yiz: multiply the amount, rate
and divide the product by thrty-sx and then
by marking off the three e, right hand figures
we will have the interest in dollars or cents
Having enlarged this rule find that it will hold
true for any rate per cent, or for any length Of
time to run. It is not arbitrary but based upon
arbitrary rules which do hold true in al cases
as evidenced by comparing results in one case
with results III another; but this rule, for all
rates and for any period OF time. is ms.heInsti
cally demonstrated IS follows: If We take an
amount say 500, and wish to find the interest
twenty days, by multiplying the amount by the
rate the product in cents will be the interest on
the amount at the given rate for ono year. Then
dividing y $50 (boing the number of business
days in Year, the quotient will be the interest
on the amount 1t tho given rate for one day.
The interest for one day multiple By the num-
Der Of days two years. nine months and twenty
days-lO lO days. gives the nterest for the ent re
time, which in this case is Sic 49, Thus the rule
is strictly thenaticsl. aud is not only true for
any one rate, but equally true tor ali Rates,
whether FIVE per cent, six per cent, seven per
eent or any per cent. Now, for the sake OF sb-
brevistio IN, the cipher is eliminated from the
divisor $780, hence it becomes 81. But to make
up for the cipher eliminated in the division we
E! ointt off one mcre figure in the quotent max
ing three pointed off ID all. Hence we have the
simple rule: Multiply together amount, rate
per cent and tims reduced to days, and divide
the product by So. Then pointing off the three
right hand figures We have the interest in dol
lars, cents and mills.