OCR Text |
Show Under the head of "Tho Almighty , Dollar," an oaatern exchange shows the accumulating power of interest, ' and says one of the causes ot business bankruptcy ia that so few people appreciate ap-preciate its undermining operations. They often borrow money at a ruin ous rato that no legitimate business can stand. Very few people have figured on the dillerecco between G and 8 per cent. One dollar loaned for 100 years at 6 per ccut , with the iuterebt collected annually and addtd to the principal, wilt amount !o $340. At 8 per ceot. it will amount to $2,20S, or uew-rly seven tiaioj as much. At3 por cent., the usual rale of interest in England, it amouuts to $19.25; whereas at 10 per cent., which has beon a very common rale in the United Stalts, it is $13,609, or about 700 times as much. At 12 per cent, it amounts to $81,075, or more than 4.000 limes as much. At 18 per cent, it amonntB lo $15,145,007. At 24 per cent., which we Bomctimea hear tulked of, it reaches the enormous sum cf $-.551,-79S.4U4 |