The Iowa transcript. (Toledo, Tama County, Iowa) 1858-1866, 1864-09-15
Poor Richards Reasons for
buying United states Securities

Dor say ne had rather have railroad
stocks than the L. S. stocks, for they
paid higher interest Just then Poor
Richard came up. and said that he Just
bought some Of Uuncle Sans three
years notes, paying seven and three.
tenths per cent. nterct. Ny rich
friend exclaimed, "You thought You
had no no, y TO buy with. '"Yes" said
Richard. = had a little laid Up, for Won
know it is we'll to have eometEin. laid
up against wet day, and hay, kept,
y little of my earnings by me- Now
Poor Richard il known to all the coun
try round to be very prndcnl and IN
du>trons, and wi,hal, wise man: for
never learned anything he didn't know.
how to max, use of, aud his wisdom
and, prudence had become = proverh.
50. when he took out his savings and
brough! the notes, more than one was
surprised, and i, was NJ wonder rich
Mr. Smi,.' asked why. So Poor Rich
ard, in very quiet humble way-fo,
he never assumed any,hng-replied,
II suppose, Mr. Smith, you known a
grea, deal better than do what 10 do
with money, and how to invest for |
never had much, and ali go, ! had 10
work hard for. Bat l have looked
round a good deal upon my neishbors,
and seen what they did with their mon
ey and Twill tell you some th;n-s | saw
and what I though, Of it. One very
rich man was. always dealing i'll money,
and he made great deal, hut wasnev
or satisfied without singh interest. So
he lent most ofhis money TO some PEG
nlc who he thought were very rich, at
avery high rate; anlhe often told how
much he got, till one day the people he
le'.to went 10 smash. He got back
about ten cents on d,llar Of his mon
ev. know another old glcntleinan
VIII, had some bank stock ana he wen,
to the bank md 20. ten per cent divi
, aeni. The Presitlcnt and everybody
said il was the bes. in the country
paid ten per cent. But what did the
old man do hat seN his stock the next
day Whs9 why ? said everybody.
A Because it pays too much d'riasnI
1 And in six months the bank went to
smash. Nov. 'hH | know TO be fact .
Well, Mr.. Smith, you say railroad stocks
are best, best because they pay high
/ dividends Can You tell how long they
will pay them? | like railroads. !
helped 70 build ono, and 90 in for use
ia! thngs. 81. tell yon what kaow
about them, Onc third Of The railroads
don't pay auy dividend, and two thirds
& and some Of them cracked up, too.)
10 not pay as much rs Government
stocks. Now ,ha. brings me to the
Government securities, aud will tell
you why prefer them | take it you
will admit, Nj. Smith, that in the long
run the Investment which is he.t should
have these qualities First. il >ho.l'i
be perfectly secure secondly. that the
in. ONE shonll +, uniform and lesrn,na
eut--not up one year and a3sG I, {
next and thirdly, thai j; should be
marketable, So when yonr W.T. day
comes, n. y.sn wan senr money. You
can get II back. A j sh;nk ties.
notes Or bonds have 2 these inait.-
more than any other kind IT personal
property yon can name. Try it.
"FiIst, then, have been looking in
to hat great book you call the Census
Statistics. fused 10 think itwasn't worth
much bu, ince I began 10 study il,
tell you, l found out a good many
things very useful tor me to know
found out BY looking at the crops, and
the factories and shipping, &c, that
We q don't mean the Rebel S,ates) are
making thousand millions Of dollars a
year more than we speud. 80 you see
that (since the increase Of debt isn't
half ,haD We are growing rich instead
Of poorer, as John Bull and the croakers
would have us tn nix. Then the debt
will be paid anyhow, no matter how
long the war is. Besides, did you
ever hear of Government that broke
before the people did ? Lock into your
big histories, Mr.. Smith, and you will
find the people break before the Gov
ernments. Well, then, | cali that stock
perfectly secure.
"Secondls, you want the income nm
form and permanent. Well, | want
you to take up list Of banks, rail
roads, mines, insurance companies
anything you choose-and tell me
(honor bright, now !. how many have
have paid uniform income for ten or
twenty years. Not one in hundred,
Mr.. Smith and you know it.
"Now here is the Government will