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Subject Area: Economics
Subject Area: Political Theory
Subject Area: War and Peace
Topic: The American Revolution and Constitution

OBSERVATIONS. - 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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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).

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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 at4 per cent.gives50 }times the original sum.
at5 per cent.—131 }
at6 per cent.—339 }
at10 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.