The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-02-11
Acquiring a Competence.

Acquiring a Competence.
Notwithstanding that wages are far
higher and the cost OF living lower. and
that the opportunities for making
money are greater than in the earlier
yearly more difficult for the average
man to acquire a competence simply by
thrift and saving. not for the reason
| advanced by the demagogues, that the
rich are becoming richer and the poor
poorer through the operation OF existing
laws, but because OF the more equal
distribution Of wealth and the superb
bundance, not the scarcity. of money.
Yearly the amount required TO consti-
tute a competence, even for a man Of
modest ambitions, is becoming larger,
due In part. of course. to the higher
standard of living. but in far greater
proportion to the reduced earning ca
pacity OF money.
While the fields for investment have
constantly widened. as the resources of
the country have been developed, the
accommodations of capital have more
than kept pace with the increased de-
mand for 1t In new enterprises; and.
with a suddenness that is surprising to
consider, this country has reached the
European level. as far as concerns the
earning value OF money. One genera
ton here has achieved as much as GEN.
turtles there. Capital today brings no
higher returns In interest, on what are
considered absolutely safe Investments,
! than II does In Great Britain. and dur
ing the past year there has been wit
messed the phenomenon OF American
money In enormous quantities being left
abroad because 1t could earn greater in
terest there than at home
or course this condition OF affairs re-
lates only TO what are considered the
most absolutely safe and conservative
Investments for money, where the Sc
curity Of the principal is OF more i'm
portance TO the lender than the amount
OF interest. and yet II is to precisely In
vestmenis OF this class. and 10 this
alone. that the possessor Of modest
competence. acquired through industry
and thrift. looks when he contemplates
retiring from the hard struggle OF bust
ness life 10 his well-earned rest. And
u is for this reason that the amount
required to constitute a competence has
grown to such large proportions.
Thirty-fiye or forty years ago a man
with ten thousand dollars had a com
Portable provision for his old age, espec-
isliy IN any part Of the West He
could ind at home safe and conserv-
alive investments which would net him
10 per cent An income from Invest
ments of $1,000 a year was fully up to
the standard Of the smaller Western cit
les. and on Il an old couple could live
in modest comfort. above rather than
below the standard OF their associates.
aud be considered as well-to-do or even
wealthy persons. Today the safe In
come which can be had from I'VE times
that amount. under present standards.
would not be relatively so large
Yet with all the increased opportunl.
ties and the larger wages which are
had today IL can hardly be said that
$50 600 can he acquired as readily as
could sle,eoO In the past generation.
Money Is easier 70 make. bu, money has
not the same value. and the first saw
inEs 30 not grow with such rapidly.
Conditions are better FOR the wage
Garner. but worse FOR the capitalist II
Is easier 10 make living. but harder
to acquire sufleleucy on which 20
retire from work.
With these conditions presented. con-
dltions which every man recognizes az
existing. there are stm those who insist
THAI more money is the crying need u
the world, and that ideal conditions
can only come when interest rates are
reduced practically 10 the vanishing
point OF altogether eliminated. When
the happy day arrives when these the
Dries are put into practice. the pro-
vision for old age will be kent az IN
medieval days. In the possession Of the
| owner and drawn on from time TO time
l.. ..s..... $3.50 e