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Observations on the Importance of the American Revolution, and the Means of Making it a Benefit to the World. To which is added, a Letter from M. Turgot, late Comptroller-General of the Finances of France: with an Appendix, containing a Translation of the Will of M. Fortuné Ricard, lately published in France (London: T. Cadell, 1785).

Author: Richard Price
Author: Anne-Robert-Jacques Turgot
Author: Charles-Joseph Mathon de La Cour (Fortuné Ricard)

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TABLES.

No. I.*
TABLEof the Produce of a Sum of 100 *Livres, with its accumulating Interest, during* 100 *Years, at* 5 per Cent.
Years.		£.	s.	d.	Years.		£.	s.	d.
* RULEfor an easy Conversion of Livres into Pounds Sterling. Strike off from the number of livres the two figures on the right hand, and multiply by 4 the remaining figures. The product increased by a tenth of itself will give nearly the number of pounds answering to the number of livres. Thus. 100,000 livres are equal nearly to 4000 multiplied by 4, and the product (4000) increased by 400. That is, they are equal to 4400l. In like manner, 1,725,768 livres are equal to 17,257 multiplied by 4, and the product (69,028) increased by 6902. That is, they are equal to 75,930l.—Translator’s note.
		100	—	—			115	15	3
	Int.	5	—	—		Int.	5	15	9
1		105	—	—	4		121	11	—
		5	5	0			6	1	6
2		110	5	—	5		127	12	6
		5	10	3			6	7	6
3		115	15	3	6		134	—	—
		134	—	—			1145	14	—
		6	14	—			57	5	6
7		140	14	—	51		1202	19	6
		7	—	6	&c.
8		147	14	6	60		1866	3	—
		7	7	6			93	6	—
9		155	2	—	61		1959	9	—
		7	15	—	&c.
10		162	17	—	70		3039	13	9
&c.							151	19	6
20		265	4	—	71		3191	13	3
		13	5	—	&c.
21		278	9	—	80		4951	4	6
&c.							247	11	—
30		431	18	—	81		5198	15	6
		21	11	9	&c.
31		453	9	9	90		8064	18	9
&c.							403	4	9
40		703	8	3	91		8468	3	6
		35	3	3	&c.
41		738	11	6	99		12511	5	9
&c.							625	11	3
50		1145	14	—	100		13,136	17	—

OBSERVATIONS.

We found among the papers of the late M. Ricard a great number of very curious tables, but they have not been inserted here because they had no direct relation to the object of his Will. He had computed the produce of a sum of 100 livres, with the accumulated interest of 100 years, according to the different rates of interest; and the results varied much more than could be believed from the proportion of those different rates.

Interest at	4 per cent.	gives	50 }	times the original sum.
at	5 per cent.	—	131 }
at	6 per cent.	—	339 }
at	10 per cent.	—	13,780 }

From hence it follows, that if the operations are well managed, and the money laid out to advantage, even by sinking the principal, (as is done in the fund for the 30 girls of Geneva) and converting afterwards the annual produce into capitals, the executors might considerably accelerate the accomplishment of the benevolent dispositions of the testator.

By laying out the money every three months, as is the custom in some commercial places, the operations might also be accelerated, although but in a small degree.

REMARK, by theTranslator.

These observations shew that M. Ricard was himself possessed in a high degree of that knowledge of arithmetic which he has required in the comptrollers-general (p. 139) as a condition of the redemption of the debts of France. In the last paragraph, however, there is an incorrectness which shews that he had not attended sufficiently to one circumstance in the improvement of money by compound interest. This will appear from the following calculations.

One hundred livres will amount, if improved at 5 per cent. interest,

	Paid yearly. Livres.	Half-yearly. Livres.
In 100 years to	131,501	139,560
In 500 years to	3″,932,400′,000,000—	5″,296,100′,000,000

	Paid quarterly.
In 100 years to	143,890 livres.
In 500 years to	6″,166,000′000,000 livres.

By directing, therefore, that the last hundred livres should be improved at 5 per cent. quarterly interest, M. Ricard might have gained an additional sum equal to 2″,234,000′,000,000 livres; that is, nearly equal to a hundred thousand millions sterling, which is a sum more than sufficient to encompass the earth with a belt of guineas all close and five feet broad.

No. II.

Tableof the Produce of each Sum of 100 Livres, bequeathed by the Testator, from one hundred to five hundred Years.

It has been proved by the preceding table, that a sum of 100 livres, with the interest accumulating at 5 per cent. for 100 years, will produce 13,136liv. 17sous. By multiplying this sum by itself four times successively, it will appear that the following sums are the produce of each 100 livres at the end of each century.

	Liv.	sous	den.
1^mo. Produce of 100 livres, with the accumulated interest during 100 years	13,136	17	—
2°. Produce of 100 livres, with the interest, during 200 years,	1,725,768	5	6
3°. Produce of 100 livres in 300 years	226,711,589	12	6
4°. Produce of 100 livres in 400 years	29,782,761,461	13	—
5°. Produce of 100 livres in 500 years	3,912,516,739,074	15	3

No. III.
TABLEof the Disposition of the first Sum, amounting to 13,136 *livres* 17 *sous.*
	Livres	sous	den.
A prize of	4,000	—	—
Three others of 600 livres each	1,800	—	—
An edition of the Prize Discourse, extracts from the three others, with 50,000 copies	7,336	17	—
Total	13,136	17	—

No. IV.
TABLEof the Disposition of the second Sum, amounting to 1,725,768 *livres* 5 *sous* 6 *den.*
	Livres	sous	den.
A fund for 80 prizes of 100 livres each,	1,600,000	—	—
Reserved towards defraying the expences of the executors,	125,768	5	6
Total	1,725,768	5	6

No. V.
TABLEof the Disposition of the third Sum, amounting to 226,711,589 *liv.* 12 *sous* 6 *den.*
		Livres	sous	den.
Five hundred patriotic banks for lending money without interest		196,000,000	—	—
Building 12 museums at 500,000 liv. each	6,000,000 }	30,000,000	—	—
Fund for an annual income of 100,000 livres for each museum	24,000,000 }	30,000,000	—	—
Reserved towards defraying the expences of the executors		711,589	12	6
	Total	226,711,589	12	6

During the three years employed in building the museums, the income of 100,000 livres is to be laid by, towards purchasing the library, the cabinets, the carriages, the horses, and all the furniture of the museum. Afterwards it is to be employed as follows.

	Livres.
Table-expences for the 40 members of the museum, the six secretaries, the designer, the engraver, and all the domestics, coachmen, cooks, gardeners, &c. }	50,000
Salaries of the secretaries, designer, engraver, and wages of the domestics, }	12,000
Expences of the stable and carriages,	10,000
The library and cabinets,	10,000
Repairs of the building and furniture,	8,000
Printing and unforeseen expences,	10,000
	Total 100,000

No. VI.

Tableof the Disposition of the 4th Sum, amounting to 29,782,761,461 liv. 13 sous.

Towards building 100 towns, containing each of them 150,000 souls.

In order that these towns may be wholesome and convenient, it will be proper to consecrate to each of them a very large circular piece of ground, containing 6000 acres; which being estimated at the highest, may be valued at 1000 livres each acre. By judging from the towns which now exist, there will not be required more than from 4 to 5000 houses for 150,000 inhabitants; but it is not conducive to the health of mankind, to be so crowded together. I suppose then that each of these towns may contain 7500 houses* , which, one with the other, will cost 35000 livres in building. Each town will cost

	Livres.	sous.
Six thousand acres of ground at 1000 livres per acre	6,000,000	—
7,500 houses, at 35,000 livres each house	262,500,000	—
Public buildings, town houses, bridges, churches, &c.	29,000,000	—
Total	297,500,000	—
The preceding sum multiplied into 100, gives	29,750,000,000	—
Reserved towards defraying the expences of the executors,	32,761,461	13
Total,	29,782,761,461	13

No. VII.
TABLEof the Disposition of the 5th Sum, amounting to 3,912,516,739,074 *liv.* 15 *sous* 3 *den.*
The national debt of France,	6	thousand	millions.
— of England,	12
A fund towards dividing annually 15 hundred thousand livres among the pacific powers of Europe,	30
A similar distribution among all the powers of the world,	100
Abolition of lotteries,	1
Extinction of useless offices,	1
Suppression of venality in offices of of importance,	1
A domaine to be offered to his Majesty,	1
A fund to be employed in annuities and pensions,	2
An addition to the settled stipends of the clergy,	1
Allowance to children under three years of age,	2
A foundation for 500,000 small freeholds with commodious cottages,	4
Enfranchisement of vassals,	2
Foundations for houses of education for the people,	6
Houses of industry,	20
Asylums for penitent young women,	1
Hospitals of Angels,	2
Statues, busts, and public honours,	1
Houses of health,	10
Total of appropriated sums,	203
Remain unappropriated,	3,709,516,739,074		15	3
Total,	3,912,516,739,074		15	3

FINIS.

[* ]It would have been much better if M. Ricard had allowed a house for every family, which would have made the number of houses about 30000.

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TABLES. - Richard Price, Observations on the Importance of the American Revolution, and the Means of Making it a Benefit to the World [1784]

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