15 | 2,260,968 | 23,276,477 | | 135,658 | | 16 | 2,396,626 | 25,673,103 | | | | | Principal Loan | 25,000,000 | | Surplus | 673,103 | SECOND CALCULATION. $2,500,000 annually collected and paid for sixteen years, amount to (the whole sum paid) 40,000,000 But the surplus of $673,103 deducted, leaves $39,326,897, the net sum applied to sink a principal of $25,000,000, and the interest for sixteen years, 673,103 ---------- 39,326,897 The annual interest of $25,000,000 at six per cent is 1,500,000, which at simple interest in sixteen years is 24,000,000, 24,000,000 Add the principal, 25,000,000 ---------- 49,000,000 Bring down 39,326,897 ---------- Surplus, 9,673,103 By these calculations it is clearly demonstrated, First, that a certain net annual revenue of two millions and a half of dollars is sufficient for sinking the loan proposed of 25,000,000 in sixteen years, and to leave a surplus of $673,103 after discharging both principal and interest. In the second place, that by this plan the public will save the sum of $9,673,103 more than if the same sum is borrowed in the usual way of simple interest; or in other words, the money on this plan will be borrowed at 3-1/2 per cent interest nearest, a sum well deserving the attention of the public at this, and at every other time, and it is for that purpose the foregoing plan and calculations are submitted.