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Story
May 7, 1931
The Carbon County News
Red Lodge, Carbon County, Montana
What is this article about?
Lawyer C. J. Starkey from Hollywood calculates that Queen Isabella's $6,000 jewelry investment in Columbus' voyage to America would have grown to $4.5 trillion at 5% interest compounded twice yearly, surpassing the value of the United States and its possessions by 11.5 times.
Clipping
OCR Quality
100%
Excellent
Full Text
C. J. Starkey, lawyer, of Hollywood, and accustomed to big figures, says Queen Isabella got a poor return when she invested $6,000 worth of jewelry in Columbus' trip to America. If she then had invested $6,000 at 5 per cent, compounded twice a year, it would amount now to $4,500,000,000,000, and that, says Mr. Starkey, is "eleven and one-half times the value of the United States and all its possessions." The figures are impressive, but anyone who would sell the United States now for four and one-half trillions would make a bad margin.
What sub-type of article is it?
Curiosity
What themes does it cover?
Fortune Reversal
Exploration
What keywords are associated?
Compound Interest
Historical Investment
Columbus Voyage
Queen Isabella
Wealth Calculation
What entities or persons were involved?
C. J. Starkey
Queen Isabella
Columbus
Where did it happen?
Hollywood
Story Details
Key Persons
C. J. Starkey
Queen Isabella
Columbus
Location
Hollywood
Story Details
C. J. Starkey notes Queen Isabella's $6,000 jewelry investment in Columbus' trip would have compounded to $4,500,000,000,000 at 5% twice yearly, eleven and one-half times the value of the United States and possessions.