ing mathematics under Professor L127M72421Male, of the University of Mars, will remember that where any number such as X, in passing through a progressive cycle of change, grows at the end of that cycle by a proportion p, then the value of the original X, after n cycles, becomes x(1+p)n.
"Obviously, in this case, X equalled one Dollar; p equalled three one-hundredths; and n will depend upon any number of years which we care to consider, following the date of deposit. By a simple calculation, those of you who are today mentally alert can check up the results that I shall set forth in my lecture.
"At the time that John Jones died, the amount in the First National Bank of Chicago to the credit of John Jones the fortieth, was as follows." The professor seized the chalk and wrote rapidly upon the oblong space:
| 1924 | 10 years elapsed | $1.34 |
"The peculiar sinuous hieroglyphic," he explained, "is an ideograph representing the Dollar.
"Well, gentlemen, time went on as time will, until a hundred years had passed by. This First National Bank still existed, and the locality, Chicago, had become the largest center of population upon the earth. Through the investments that had taken place, and the yearly compounding of interest, the status of John Jones's deposit was now as follows."
He wrote:
| 2014 | 100 years elapsed | $19.10 |
"In the following century, many minor changes, of course, took place in man's mode of living; but the socalled socialists still agitated wildly for the cessation of private ownership of wealth; the First National Bank still accepted Dollars for safe keeping, and the John Jones Dollar still continued to grow. With about thirty-four generations yet to come, the account now stood:
| 2114 | 200 years elapsed | $364.00 |
"And by the end of the succeeding hundred years, it had grown to what constituted an appreciable bit of exchange value in those days—thus:
| 2214 | 300 years. | $6920 |
"Now the century which followed contains an important date. The date I am referring to is the year 2292 A.D., or the year in which every human being born upon the globe was registered under a numerical name at the central bureau of the National Eugenics Society. In our future lessons which will treat with that period in detail, I shall ask you to memorize that date.
"The socialists still agitated, fruitlessly, but the First National Bank of Chicago was now the first International Bank of the Earth. And how great had John Jones's Dollar grown? Let us examine the account, both on that important historical date, and also at the close of the 400th year since it was deposited. Look:
| 2292 | 378 years | $68,900 |
| 2314 | 400 years | $132,000 |
"But, gentlemen, it had not yet reached the point where it could be termed an unusually large accumulation of wealth. Far larger accumulations existed upon the earth. A descendant of a man once known as John D. Rockefeller possessed an accumulation of great size, but which, as a matter of fact, was rapidly dwindling as it passed from genera-
