When a loan is made, the attention of the borrower is seldom called to the rapidity of increase and the dangers of accumulation. If this were done, and a prompt return of both principal and interest required, at the end of the term the borrower would soon be alarmed at the hopelessness of permanent gain through debt. Peter Cooper, it is said, taught this lesson to a friend who was talking of borrowing for six months at three per cent. We clip the following story: "Why do you borrow money for so short a time?" Mr. Cooper asked. "Because the brokers will not negotiate bills for longer." "Well, if you wish," said Mr. Cooper, "I will discount your note at that rate for three years." "Are you in earnest?" asked the would-be borrower. "Certainly I am. I will discount your note for ten thousand dollars for three years at that rate. Will you do it?" "Of course I will," said the merchant. "Very well," said Mr. Cooper. "Just sign this note for ten thousand dollars, payable in three years, and give me your check for eight hundred dollars, and the transaction will be complete." "But where is the money for me?" asked the astonished merchant. "You don't get any money," was the reply. "Your interest for thirty-six months at three per cent. per month amounts to one hundred and eight per cent., or ten thousand eight hundred dollars. Therefore, your check for eight hundred dollars just makes us even." There has come to this table, a letter recently sent by a wise uncle to his nephew, who sought from him his first loan. Usually the interest is minimized while the hopeful youth is permitted to indulge his dreams of fancied good, to be easily gained by a loan. "My Near Nephew: "I enclose a draft for forty dollars with a note for the amount to me, due in one year at six per cent., which please sign and return to me. This is probably the first note that you have ever given, and there are one or two things about a note that maybe you have never discovered. One striking peculiarity is, that they always come due, though they are drawn for a year. It may seem a long time, but when you have a note come due at the end of the year it seems altogether too short and has gone before you are aware of it. Another peculiar thing is, that while interest is a little thing apparently, yet it never works on the eight-hour system, but continues steadily through the whole twenty-four, and through the whole seven days in the week. Its about the most industrious animal of my acquaintance, working nights and Sundays as well, and apparently never becoming in the least fatigued, consequently, though it appears to be so slow, still if you do not watch it closely, the first thing you know you will be astonished at what an amount of work it has accomplished. There are other things equally striking about notes, but these two are the most important, and the ones I particularly wish to impress on your mind. "_________________