Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1876-03-18
TINE LAW or ACcuMULAxroN.

TIME LAW or ACCUMULATION. n.
Everybody knows that money makes
money; but it is not everybody that
pays attention to the mode BY which
this is broughS about, and the practical
consequences which follow. School
boys are taught the rule Of compound
interest; but nine out Of ten Of them
forget all about il for the remainder of
their lives. Yet this principal has more
to do with the accumulation of large
fortunes than any other cause whatsssr; !;
and it has bearings ON the increase Of
wealth, and on The ratio and psty3s Of
expenditure, both personal and national,
of which the practical character cannot
be oyerrated. Tits only when il has
been in operation for o long series of
consecutive years that we see what the
force Of compound interests. For the
first few years the augmentation is al
most imperceptible but when once the
power Of increase has been developed, il
goes on at an augmenting ratio, until
the results are almost incredible. This
Is the secret Of the large fortunes Of The
great bankers and capitalists, whose
money goes on accumulating from gen.
Grafton to generation, and augments
with prodigious rapidity after thirty or
forty years have passed on. aiisti7l5'A
It then becomes q general truth, that
the younger the man ia the moro valna-
BILE money is to him. Five thousand
dollars is to o man Of twenty-one, the
making Of q fortune but Ave thousand
to man Of fifty would be Of compare.
lively small amount in that respect. l5 |
! Suppose . man begins life with eco-
nomical habits, and BY rigid self-denial
accumulates five Thousand dollars by
tine time he is twenty-five. The sum
will amount to competency by the time
hs desires to be free from the cares of
business. and he can then, and indeed
for years before, have the pleasure OF
laying out his money freely and without
fear. in gratifying his tastesor in dong
good. aas aii i4ai- aIaa17
But If he be inclined to crafty his
tastes when young, 10 buy, we will say,
expensive furniture, or 70 mingle too
freely in society, so that he never saves
at all until he is 1--WE and forty, what
good will FIVE thousand dollars do him
thenf Itis, Of course, good in itself,
but as the foundation Of q fortune is
utterly inadequate. : :
The points Of the whole matter are
therefore this Every dollar saved in
youth is fifty dollars in old age every
hundred dollars spent in foolery or
finery before five-and-twenty is simply
five thousand dollars thrown away OF
provision for the time when work must
be q burden. q lr* 3 aTi5aag zlisai
Let our young men in business think
of this, They are exposed, on entering
life,. to innumerable temptations to
spend money. Let such be steadily
resisted. The course in youth is quick
saving and careful economy. BY and
by q time will come when this will bear
its legitimate fruits. Then is the time
for 0penhanded freedom ia expenditure,
when the Judgment If rnatnred, when
knowledge of the world In acquired,
and whom capital has been accumulated
TO such an extent that even if there be
no more saving there need be no furth-
er anxiety. 'D'Ti'oS y
III should not be forgotten that the
majority OF the merchant-princes who
have reached the highest honors to
which . citizen can aspire. have been,
in their earlier days. poor but thrifty
men. They never squandered money,
NOR wasted their substance in reckless