Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1882-05-07

Subject What Becomes Of the
Money-LOsinRs-Banky'
Gen. 81: IA, Ills there yet any por-
ton or inheritance for us in our Faith
er's house5 Are We not counted of him
strangers? For He hath sold us, and
hath quite devoured also our money.
You are asked to do some Close, hard
and big thinking for the next thirty
minutes. We wish to appreciate the
value Of money in both small and large
sums. Perhaps IL will not be amiss to
begin with tho table Of Federal money:
10 mills make one cent,
ID cents make ono dime,
10 dimes make one dollar, etc.
Popularity tho dollar is one unit Of
value. BY the dollar we estimate wage 9
and expenses-how much we earn and
what We buy.
We all know what tho dollar looks
like. Now we want to know what it il.
Let us look at it till we can see in it ten
10-Cent pieces, till We can discover in it
tho 100 cents that belong there, till We
can clearly discern the 1000 mills that
compose it. Remember, please. that
you were asked to do Close and hard
thinking. DO it upon this dollar piece.
Scan it narrowly. For We want TO know
what the dollar is-hOw and how much
We have TO do to get it and what
we get for it-a certain standard moas-
ure of value by which arc measured the
hours We work, tho miles We travel, the
wares We buy and sell.
II we have this fixed in mind We may
work our way on and up. Multiplying.
81 by 10 gives rs tho eagle. Multiply
that again by ~ and We have $lOO.
which to the mass of people il quito .
comfortable sum of cash ON hand.
We might hurry through this enuIner-
alton. But Just now 1t il better to make
haste elOwly. We shall make moro
rapid progress by taking time to stamp
these sums upon our minds. We want
To realize what 300 amounts to. One
way to tell what it is worth is to think
what it will do. II will carry one pas
sengor across the continent. 1t will
mako all needful provision for tho aver
age American family for two moAths
and moro. 1t will cl0the tho average
family for q year and half. BY think
INC directly at il a moment We get this
500 amount we'll fixed and defined.
Then We multiply again by ~ and
have $1,000. Now we begin to climb the
f0othiils-$l0OO makes very reepecta-
BILE bank account. Il is good snug
sum to have, and used to advantage 10 q
means of no little good, comfort and
profit. And now as We begin TO multi
bly, the thousands we mount up rapidly.
A man with $4,000 ID we'll on; with
100000 he is independent; With $lOO,-
OO0 ho il q wealthy man and begins to
take rank an Q modern capitalist.
Hut 10000 il the lilo Of 1,OOO.OOO.
Multiply 800 900 by 10 and We have a
millionaire. Hero must begin the big
thinking of which notified you in the
beginning. A 100000 Is a large
sum to count over and appreciate. We
shall have 70 60 back to $lO0O and think
over the steep ascent several times. a
100000 il but lilo of 100000. II takes
10 times 100000 to make ,OO.OOO. And
with this We may AZ vel! arrest our
enumeration. A million OF money 10 =
great sum which ve do very well indeed
TO comprehend in any adequate meas
ure. And before We are through we
shall have TO multiply even millions by
thousands. But Just at this point let
us strive to compass in thought 81 ,00O,
600. We have problems ON hand that
| require M to take !, OO0, 900 as our basis
of calculation. And have taken all
| this time and pains to fix the value Of
| the 81, the 800, the $1,000 and tho $l,-
OOO,OOO % that tho working OF these
problems may not prove TO DO wasted
breath and time. Statistics arc very
apt to fall dry and proiitless. 1t Ii my
aim and effort to put q porsuaGlve tongue
| In these figures that shall make "a UNI
derstand what they say. Too long We
| have been deaf 70 them. Today let M
begin to hear and understand. For
I they are able 70 tell us what becomes
| of the money!"
In the year 1873 money crisis, f.
nancial panic, swept over the land.
hanks broke, mercantile establishments
| Of every kind collapsed, and railroad
oompanies went under. That was the
year that marked the stranding Of your
Northern Pacific, which began to fioat
again only after eight years Of exposure
on the beach OF bankruptcy. And
along with this widespread financial
failure came universal embarrassment
and distress among the people. And
now IL seems that We bTAvely struggled
| through the hard timos only to repeat
the ain and folly Of eQuanderin0 ths
precious dollars, the wasting Of which
brought N into such serious straits.
Want Of money vas tho occasion OF
the bleak and dreary hard times through
which We have cone. But Why did the
money fall1 Crops bad besn good, busi-
non Wae prosperous, new industrial en-
toYprisoo Woro DEVELOPING aleug shore
and inland. Why should money have
failed? We had recovered from the
spoliakion Of war. No plague Of poest-
lencs or famine had smitten ~. Nc