The Secret Of Wealth
132 total pages.
Demosthenes, the greatest orator, lived with his mother and sister upon an income of $120 a year, "exclusive of house rent" as the record says. His father was a merchant and left a fortune of 14 talents, which was regarded as considerable property. A talent equaled about $1,225 of our money, so a man who was worth 14 of them, or about $17,000, was a rich man. The richest man of all was Callias, whose wealth was estimated at 200 talents, or about $245,000. Not much compared with the millions that many Americans possess. An Athenian of the B. C. days could live respectably on the interest of one talent--about $17 a year! In the 12th century the cost of living had risen in Europe. But even then a man could with $50 pay the rent of a farm for a year, and equip it with three draft horses, twenty cows, and two hundred sheep. And he could hire harvest hands for 4 cents a day. The Lord High Chancellor of London had an income of only about $200 a year. Twenty-four dollars a year was a big salary, and 3 cents was the usual wage for a day's work. About the 15th century prices had risen further. For then a pair of shoes or a wagon load of wood cost 7 cents, and a fat sheep cost 19 cents. After the war of 1812 in America, the price of shoes had climbed to $1.20 a pair, and farm hands were paid $12 a month. After the Civil War, about 1877, the Thanksgiving turkey cost 9 cents a pound, and the bacon for breakfast was 6 cents a pound. But then $1.50 was good wages for a day's work, and a salaried man who received $50 a month was a high-priced man. When living cost the least--people had the least. Prosperity of the people grew as prices grew. The man of today who spends $1.50 for one chicken for Sunday dinner lives better than kings of the olden days when a chicken cost a cent. He makes money. He has money. He thinks in thousands where his ancestors thought in pennies.
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The Secret Of Wealth