Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1884-08-23
INTERESTING.
Reply of "A Rancher" TO :" Bricklayer'
Concerning Interest Computation.

Concerning Interest Computation.
EDS. RECORD UNION In your issue of
Saturday last noticed a somewhat lengthy
communication from one who signs him
self Bricklayer" treating of interest in
general and particularly of Interest Made
Easy recent publication by Professor
Atkinson. Bricklayer" draws his in
| ferenceS regarding the work from the
RECORD MONS review, and gives it as his
opinion that, while it is not exactly correct,
il is yet short and labor-saying method.
He also atfirms that mis- old schoolmaster
taught him the same over thirty years ago,
and proceeds 10 give examples 10 show its
practical application. Having been favor.
ably impressed by your notice of Interest
Made Easy" | sent for and obtained Il copy
of the book. have from time TO time
continued my examination of it, until |
| feel justified in saying that | thoroughly
understand the method of it, ! find that
can solve any problem in interest in less
than half the time consumed by any other
published method, and with still greater
saving in figures; and | infer, from the
practice have had, that in time l could do
much of the work mentally.
As TO It's not being correct, let me call
" Bricklayer's attention to the fact that
business calculations are not based upon
accurate interest, and that the commercial
custom of reckoning $50 DAYS To the wear
is now sanctioned by law throughout the
entire country. The provision is as fol
lows: For the purpose of calculating
interest. q month Shall be considered the
twelfth part OF a year, and as consisting Of
thirty days and interest for any number of
d0ys.lcS than a month shall be estimated
by the proportion which such number of
days bears TO thirty" From this il will be
seen that the method referred TO is correct
IN every particular, i'll 4 commercial point
OF view. Government transactions. how
ever, are based upon accurate interest in
which a day figures rs onc-threc hundred
siXty-iifth of a wear. | notice however
that the author Of Interest Made Easy
has provided for economy in reckoning ac-
curate interest, and this saving Of time by
this branch of the method is greater than
that which is affected by the other.
The method which Bricklayer'' learned
from his old schOolmastcr differs little
from that given in Interest Made EASY "
in reckoning for days. and for any other
rate than per cent, although the reason
ing is much the same. ! heartily concur in
" Bricklayer's' observation that the
method of reckoning interest which one
learns i'll youth will stick to him through
life, no matter how tedious and timc-eating
ii may be; and this suggests the prOpriety
of placing none but the best before the
youth of the country. l regard this new
method of reckoning interest to be simple,
practical and labor-saving-in short, the
best vet given to the public, and | trust
that it Will soon find its way into the text
books used in our common schools.
Bricklayer's - apology for writing upon
this subject shall be mine, namely the
large family circulation of your valuable
paper, and the consequent easy commune
cation with parents and children; and l
close by affirming that if he is Il " Brick
layer | am A RANCHER.
Fairfield. August 20. 1884.