Bozeman avant courier. [volume] (Bozeman, Mont.) 1872-1882, 1878-07-04
The scs!urIiVcncss Of Interest.

The sCluctivencss-o one might almost
say the flscination-ot interest got. or tC
be got, from money is very remarkable
Ordinarily. people who have not had money
at interest care very little about it. indeed.
never think of it. But after they have once
had nterest-hayC tlmilia,iZcd themselvC,
with the fact that money is worth SOME
i!in--thcy very rarely forget it. or fail to
act upon it. Capitalists. whether big or lit
tie. almost never allow any amount OF
money. however small to lie idle. They
invest and reinvest as fast as they get any
thing. and rich men in business are quite
rs likely. if not more likely. TO he short OF
cash. as men of ordinary means. They
come to regard any amount OF money less
rs Il given sum than as Il source OF income
thinking OF a thousand dollars nj 6 or
or 10 per cent. per annum rather than rs a
thousand dollars. Ii is the habit OF mind.
doubtless. which, among other things.
makes men Of capital more unwilling to
part with any portion oft than men with
out capital are 10 lei what they may chance
TO have on hand slip through their fingers.
The former mentally calculate the interest
of every amount: the latter merely con
slider the sum itself.
Large capitalists often feel poor, not
from any loss they have sustained. but /
from their inability TO invest surplus funds
in such stocks orpropcrty rs they approve.
The instance of the wealthy New Yorker
who refused 70 contribute to.a worthy
charity because he had quarter OF Il mil
lion of dollars in divers banks without in
tercst sounds Ike satire; blt ii is iluStra-
tive OF his class. Interest, excellent as it is
in itself frequently has Il bad Influence. as
example quoted. on the mind of the per-
son expecting it Or receiving it. Up to a
certain extent. within What is known rs
legal rate. interest is of reciprocal advan- !
tayc to the borrower and the lender. and
is 4 well regulated feature of commercial
law. Carried TO a higher figure. made
usrrious, interest ieba.iches and democrat
lies. rs hundreds of men. originally Just
and uneXtortionatc. have found. After
getting 10 per cent. for some time they
want ID; after getting II they want 20. I'M
til at last the spirit OF the pawnbroker en-
tering into them, they are absorbed and
controlled by the passion of avarice. Lend l
ing money at usurious rates destroys. al
ter 4 time, the common feeling of human
ity: units a man for tile common enjoy
ments OF life: turns him into 4 mere mon !
eymakng machine. 1t all springs from Z
the seductiNeness OF interest. Re~riling 4
him at first. it fastons upon. masters and $
morally consumes him at last
II is singular. too. how a!luring interest 5
is to persons in the humblest crclln.-
stances, particularly after they have had !
the pleasure Of receiving it. The man t
whose life is continued toll can hardly I'M {
derstand how he can get anything except +
from downright hard work: but finding s
that he can. he is so delighted with his cX-
pcrience that the memory remains with {
him always. and is Il constant source of i
satisfaction. 10 have little money work '
ing for him. working when he is asleep
so he is apt 10 PIT it--captiyatcs his fancy I
and very naturally. because he does not
it, because it isa mystery, rem
tlerS the thing more alluring and increases d
his satisfaction. He is likely to value two !
or three dollars which he has gained rs in
terest more than he would twenty or thir-
" that he has earned bv labor. Money
earned digniiies him: interest on money t
puzzles and seduces him. lie will incur c
any number Of risks FOR the expectation of |
interest, dear to his heart because it is. !
within him. a sort of financial superstition. c
Il clear gai,i. since it seems TO yield some a
thing from nothing. No wonder that TO I
him. and TO such as he is, it is Il yeritable i
seduction. q
The way in which tine average man is !
affected by interest, and the hope of it. eX- c
plains why so many worthless banks and ,
all over the country. have been I
able TO secure deposits. They had no I
credit. nor were they entitled 10 any. In
lieu of it. they hung out signs and adyer '
tised generally that they allowed interest !
the main concern TO the multitude, who 6
seldom stop % make further inquiry. Sa-
racious men of the world accep. appear !
ance OF promise of nothing until they
have discovered whether they are accom-
panied by responsibility. They are more
solctous as to the safety OF their invest I
nent ,haH Of the rate of interest 10 be de-
lived 'front.' II. They are made suspicious
md deferred when the rate is above what
lie rules of ordinary business VIII justify. |
Not 50 with the worldly and inexperienced
nan. The offer of interest SO eXcites his I
.upidity and blinds his Judgment that the
question OF security seldom occurs 20 him |
until it is too late. Even after lie has lost
after lac has been manitestly swindled- e
nc il too much disposed to the next sharp '.
r who telnpts him with large interest. lie :
,oes not remember that the fellow who en- !
,ects 10 stea. the principal feels that ne I.
,an afford to pay any rate VI interest, and Z
hat the less honest banker or merchant !
,r corporation is. the more ready he or IL
. viii, big pro,nisas.-N J.. Hsmes. W