"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:
| 1931 | 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. The First National Bank still existed, and the locality, Chicago, had become the largest center of population upon the earth. Through the investments which had taken place, and the yearly compounding of interest, the status of John Jones's deposit was now as follows." He wrote:
| 2021 | 100 years elapsed | $19.10 |
"In the following century, many minor changes, of course, took place in man's mode of living; but the so-called socialists still agitated widely 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:
| 2121 | 200 years elapsed | $364 |
"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: