Yet it is not a fair test of the value of an immigrant to this country to measure it by the cost of his bringing up and education, either by the standards of his old home or by the American standards. Professor Mayo-Smith pointed out the fallacy in the oft-quoted estimate of Kapp, made up on this basis, that "the capital value of each male and female immigrant was about $1,500 and $750 respectively, making an average of $1125."[215] Dr. Young, formerly Chief of the United States Bureau of Statistics, chooses as a basis the "market value" rather than the "cost of production," and estimates the approximate yearly addition made by each immigrant to the realized wealth of the country in the form of farms, buildings, stock, tools, and savings, to be about $40, which, capitalized at 5%, gives $800 as the value of each immigrant.[216] An interesting German calculation in 1881, made in much the same way as Dr. Young's, put the capital value of each immigrant at $1,200.[217] Another method of gauging the amount contributed to the earnings of the country by each immigrant, is to multiply the average daily wage of $1 by one-fifth the total number of immigrants, and that by 300, the number of working days in the year.[218] Taking the values of the immigrant over fourteen years of age and under forty-five, as $1000, and estimating conservatively that 80 per-cent of the foreign-born enumerated in the census of 1900 reached the United States between those ages, the Scandinavians so enumerated represented a capital value of about $850,000,000, to which the immigration from the North countries in the next five years added not less than $230,000,000. Viewed from one point, this capital was just so much given by the gods of plenty to accelerate the development of the West. [215] Kapp, _Immigration and the New York Commissioners of Emigration_, 146; Mayo-Smith, _Emigration and Immigration_, ch. vi. [216] Young, _Special Report on Immigration_ (1871), vii-ix.