Progress and Achievements of the Colored People: Containing the Story of the Wonderful Advancement of the Colored Americans—the Most Marvelous in the History of Nations—Their Past Accomplishments, Together With Their Present-day Opportunities and a Glimpse Into the Future for Further Developments—the Dawn of a Triumphant Era. A Handbook for Self-improvement Which Leads to Greater Success
John Stuart Mill · en
“Some banks burst.” True, but not a good bank, the shady ones always
fail when they get a good sized roll.
If you do not know enough to put your money in a safe place, you do not
deserve to have any, and you generally do not.
SAVE YOUR MONEY AND MAKE IT WORK FOR YOU
There is one open opportunity that everybody can take if he wishes to do
so, and with very little exertion on his part.
The man who makes his money earn money for him relieves his own back of
many heavy burdens.
To do this is the object and aim of every go ahead person, and there are
many men who walk our streets who have money making money for them, even
while they sleep.
All you have to do is to save your dollars instead of giving them away
for somebody else to work with—work them yourself.
It is worth knowing that when you squander, or spend unnecessarily, one
dollar, you are at the same time parting with a servant that will bring
you in profitable returns—you are killing the goose that lays golden
eggs.
Stop and think that whenever you part with one dollar you are
sacrificing two or more dollars, some say, five or ten, for the reason
that in the course of a few years, your dollar will earn you several
other dollars by being put out at interest, or in bonds that pay good
rates of interest.
It is a comforting thought to know that when you can not work, your
money is working for you every moment.
The following tables will show you just what it does:
TIME IN WHICH MONEY DOUBLES.
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Per Cent │ SIMPLE INT. │ COMP. INT.
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2 │50 years │35 years
2½ │40 years │28 yrs. 26 da.
3 │33 yrs. 4 mos. │23 yrs. 164 da.
3½ │28 yrs. 208 da. │20 yrs. 54 da.
4 │25 years │17 yrs. 246 da.
4½ │22 yrs. 81 da. │15 yrs. 273 da.
5 │20 years │14 yrs. 75 da.
6 │16 yrs. 8 mos. │11 yrs. 327 da.
7 │14 yrs. 104 da. │10 yrs. 89 da.
8 │12½ years │9 yrs. 2 da.
9 │11 yrs. 40 da. │8 yrs. 16 da.
10 │10 years │7 yrs. 100 da.
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=A Dollar Saved Is a Dollar Earned=
A small sum saved daily for fifty years will grow at the following rate: