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Long ago wo determined tbat it shonld not be our lault il' out readers did not soon botter appreciuto tho aocuniulatious of interest, and how iuipossible it is for any business min to long pay ourrent high rutes. Possibly eome have nltnost tired soeing our oft-ropuatod table about the aocumulations of ono dollar at dift'erent ratos for a hundred vaars. Uut, tirud or not, it is a healthful sight; and overy bui-iuoss man espeoially onght to have that table where it will meet Iris eye at least onco a week ; and even then it is probable! he will allow many dollars unnccossarily toaccumulato thoir interest agaiust him. This may bo in dead stook, in unnooessary fixtures, or in various expenses oagily disponsod with. If he would be succes8ful, ho should count the intorest he might reoeive as wcll as that lio has to pay. Espeoially in making pormanont investments lot no ono forget the interest account. Howover familiar rith this subject, thero arO probably fow who would not bo startled at tho statement that tho oost of the outfit of Christopher Oolumbus in his first voyage of disoovery, put at interest at six per cent., would by this time have amounted to more than the entire money value of this continent, togethor with tho aoonmulations from the industry of all who havo lived tipon it. If any doubt this, let thom reckoü tho amount, estimating the ontiro outfit to havo oost only the small mm of five thousand dollars, and remembering that monoy doublos, at six per cont., in a little less than twelve years - or aoourato, ly, in eleven years, ten nionths and twonty-one days. Allowing it to doublé every twolvo yeara, this five thousand dollars at interest at six per oent , since 1403, it will be found, would havo amonnted to 117,995,700,000,000, whioh, estimating tho population of the entire continent oí America to bo eighty-live imllions, or seventeen niillion familioi", (avoraging five memberg oach) wonld give more than n million dollars as the posaeasion of evory onc of theso. The interest ujon a raillion dollars at six per cent., ig gixty thonsand dollars, whioh would bo the princely annual incomo of each of these scventeen inillion families frons the scoumulationa upon so small a snm as that named for tho outfit of the discoverer. Wa are glad to soe the following oomputstioos going tho round of the press : " Una thousand dollars loaned at six per cent. in 12 years will nconmulate to $2,000 ; in 2-t years to $4,000 ; in 36 years to L8,000 ; in 48 years to $16,000 ; in 60 years to 32,000 ; in 72 years to $64,000; in 84 yoars to $128,000; in 96 years to $2ü6,000; in 108 yeara to $512,000; in 120 years to $1,024,000. Multiply this sum by 1,02-1 and it -will give the aooumulation for 120 years more, or $1,048,576,000. Multiply this product by 1,024 and wo shall have the accuiuuïation during the next 120 years, or a total period of 360 years- $1,073,741,824,000- one trillion, seventy-throe billions, neven hundred and forty-ono millions, eight hundred and twentv-four thousand dollars. This is rather an incomprehensible amount for even a nation to nianago, but perhaps we can make use of one year's interest on the sum, which amounts to $64,424,509,450, or over $20 a minute for every minuto in tbc age of the world, allowing it to bc 0,000 years old. Or if this calculación Í8 too complicated to bo readily apprehended, vvo can take tho interest of it for four montbs and pay off the whole national debt." Our table of the accumulations of one dollar allnded to1 above we again subjoin for the benefit of any "who may porchanoe never have ieen it, as well as tlos; who havo not as yet fully cousidered the important lesson it teaehes. If one dollar be investod, aud the interest Ekdded to the principal annually, at the rates nanted, fe ahull have the f'ollowing result as the accuinulati on of one hundred years : %ï, 1 00 yeurs, at 1 per cent., $2.75 " " 3 " 19.25 " " 6 " 340.33 " " 8 " 2,203 " " 9 " 5,543 " " 10 " 13,809 " Ï2 ■ 84,695 ► " Ï5 " 1,174,405 " " IS " 15,145,007 " " 24 " 2,551,709,404


Old News
Michigan Argus