Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1884-09-06
INTEREST METHODS AGAIN.
An Expert with Bis Little Ratchet After
Mathematical Scalps.

EDS. RECORD UNION: There appeared in
your paper recently, under the head of
q New Publications" review of work
entitled " Interest Made Easy" and very
soon thereafter would-be criticism by
| "Bricklayer." This communication was
so lengthy that l did not have patience to
wade through it all at the time, but re-
cent communication from Rancher" has
caused me to give my attention to it again
This time I have perused it carefully from
| beginning to end, and propose to give you
| Il few lines in relation thereto. Being an
expert, took particular notice of an asser,
| ton which he was pleased to make, and
which has something to do with my writ
| ing these lines. He asserts, with much
| seeming assurance, that he has often looked
over the shoulders of experts, computed
interest mentally, and set the answer down
before they we're half through with their
old methods.
Let US weigh this assertion for a mo-
ment. He. to use his own words, IS
neither teacher nor fair mathemati-
clan" vet he can mentally out reckon one
who lives, as it We're, IN the very at
mosphere of figures from morning till
L
Many an old woman knows more than the
doctor. Many a country Justice can out
Blackstone the Supreme Bench itself; and
| doubt not, Mr. Editor, but there are per-
sons who daily walk the streets of your
citv anxiouSly waiting for an opportunity
10 look over your shoulder and tell you
how to run the RECoRD-UNIoN. But let
us bring this mathematical prodigy into
focus.
First he exhibits lack of knowledge OF
business customs, by asserting in the onset
that the method of reckoning interest de
scribed by you is incorrect: but OF this
" Ranchcr" has very CURLY informed him,
therefore pass to notice the sum which
he has propounded and so deliberately
worked out. He attempts to demonstrate
that the interest of S7,2S3 for years, !
months and % days, at u per cent. pei
annum, is S4OlS IS and takes about &
column Of your paper to obtain the result
and explain the operation. lie proceeds
with the astounding assertion that reckon
ing 80 days for Il month incurs loss IN the
above example of 80 days, or the Interest
on the principal for that time
assert that there is gain instead of a
loss. His reasoning is false and his result
incorrect. The true answer by all accepted
methods for business transactions Is
$500 o. and by accurate interest, OF una
used in Government Transactions 1t woulc
be 1892 GS. The processes are indicated
as follows: $7.2s3X4, 3S8 < 125-S3, 935 0:
81, 2S3 x. G68M 075) 365=$3, 932 So
The patronizing air with which he
alludes to the author is indeed refreshing
hopes he has taken into consideration The
difference between 800 and 3G5 days, etc.
and if not it were well that he should, etc
I sincerely hope that "Bricklayer" has
by this time "causht on " to the ironica
sweetness Of the authors reply. | think
81 Briclllaycr's mortar has been too long
exposed to the elements, for the structure
that he builds does not bear inspection.
In conclusion, | wish to give him very
easy problem to work: What is the lntercs
of $500 from August l, 1882 to August
1854, at per cent. per annum? wish t(
have him reckon by both methods-usua
and accurate interest. In the mean time
shall pursue my vocation # EXPERT.
San Francisco. September l. 1884.