New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-07-09

Tie Ecv. j. J.. Wa-,ou in Tie North American Review.
lIr scheme. in brief i- FIR taos. who arr most
in ca h. o. more .-iJi', any INt j. "iI '. GOA"
pound interest," until tnr Principal shall Doe. ,ar -u
IuMcl-. aat the interest annually 'ru.lg from 30
NiA Doe JAR. enough to change l-e VioIr 4''. OF o
c..fy. H. order o. bring tAt matter m0r nearly nome
tr.l-f, say in the year 1923. lad t a'd' tial ''-
Of money, vlth the provl-o that neither principal nor
which time itf Whole amount shouli De sdc,H IhEV ~
and thee interest forever after devoted % the a!c'Ia
ton ot poverty and % such Other humane ollr,'r 1i
should commend Themselves - wisely seieciel boAfl
OF Auu-Puveriy trustees two OF whom might pefhai
be- Mr. George and Or. McGlynn ! venture To say
that the actual money result to-day Of such fln!
would surpass the widest dreams OF the cranAasi
Amt Poverty disciple IN thc world.
As thus, for instance: Assuming that when pu,
out compound interest, the principal doubles tse
every fifteen ycars-no very extravaZant assumption
tic 10000 invested in 1929 would TODAY amount u
iuconrcvably enormous Of 8ls4, 207 800 900
And this sum Invested at the rate oi per cent
would Yield an annual income Of S7,36s pa 400
which sum, be 70 remembered, would 10
available every year in pcrpctuty for the
noble but misty objects OF mc Ant-IovefS
81. i,tr But order 70 allow for icakag's, and 10
avoid tho consideration Of cum1rons n,iliDtf ~
maze interest al an even five billion dol.aI9
The actual interest Of our fund What then VIII We NC
able % DO with this great Income ,,,,... g
FIRST 81 al. notice rae fact that I'VE bhloh' Oh
zion JOB thu civilized world. This mesus that Laii .'o
auspices and for tLc sole benefit Of our supposed
Anil Poverty s0ci.ty. Moreover, u large proportion
OF ITO capitalists enI employers o! lAb'l Ut Va
world would Doe simply The agents of the Nt-to''if
society. The banks and other institutions when no.
lend money would lrd much. n not all. Of Their DIS,
hess gone. In- tir Anu-pOvrffy society WON"
virtually own the earth and everything thereon
AID would. therefore, D. tie greatest leneins ih,u'D
ilon ia The world n could exact iis own terms oI
interest and controlling. as ~ would, most oi tl,
labJr the money, and commo-iues % UNI
Wgl.. Or would have ab-o,1t" power I'D "'iIi.
tIc property ~ me world On accordance win IT, pm
Clri... The capitalist. ODE man ni business. ug5
o. r-i u4H of wealth. a.d the W.rhiN- iiti' u q
would De- paying percentage uIf nf Their l-t'Mh '"
flls great a4t1rIa. OF human destiny. b. WOMB
ho c.er NJ once strike suas thai Nigh may ~
wOud-provc fatal 10 TIE society. unless u succ 'l I'd
iu MAKING over this human nature of ou.a. ~
ttrrrchrancd acQu.sliiyc men, whose vcry nature 10 j.
to word. with both brain and hand JOB order To- arqlr
vcs.t.. would LOSE heart and $40? Wofhin6. 'H lno
ofI.f lald Immense nuinb'r. pIa.inA a Wal'i-.'
.f f.~ unrf- vsrl.4ua mon. knowing t.a. t, Nj'i'
would provide Tor them auTho". W1uid also Stop
working Or n they worked a. on. wold Dos I'D a
l.-flr-, way that would be OF Ntl5 value So. Icn
fore. Tie worlds industries would como % -ul7h
and disastrous sfaudst. and az The cod II iNe year
Doe 50 900 900 900 0f interest due thr Ant-PoNcf,
society would NOT be PAD on accoun. OF the fencf l
cessation OF work. And there would Pc NO. wa -
enforce The payment. unless all The civilkc govern
ucuts Of The world should unto 90 d. % liHf even
that would not avail II the debtors I'D not have the
money 70 meet thelr Obligations, TOR you cannot
squeeze blood out IT a stone.