The Lansing state Republican. [volume] (Lansing, Mich.) 1855-1874, 1864-09-14
Poor Richards Reasons for buying United
States Securities.

The other day we head rich neighbOr
say he had rather have railroad stocks than
the L. :. stocks, for they paid higher inter
est. Just then Poor Richaad came up and
said that he just bought some Of Uncle
Sans three years notes, paying seven and
three-tenths per cent. interest. My rich
friend exclaimed, You thought yon
had no money 10 buy with 80 1es, said
Richard, Il had little laid up, Tor you
know il is well To have something laid up
against a wet day, and l have kept a little
OF my earnings by me-" Now Poor Richard
is known TO al the country round to be a
very prudent and industrious, aud withal.
wise man: for Richard never learned any
thing nc diden't know how TO make use OF.
and his wisdom and prudence had become
prOyerb 60, when ne took Out his sd-
wings and bought the notes, more than one
was surprised and II was no wonder rich
Mr.. Smith asked why. SOPOOr Richard, in
a very quiet humble way-for he never as
sumed anythlng-replled, Il suppose, Mr..
Smith, you know great deal better than 1
do what ~ do with money. and how Ia in
vest; for l never bad much, and all | got
had TO work hard far But have looked
round a good deal upon my neiShbOrs, and
seen what thoy did with their money and
will tell you some things l saw and what l
thought OF il. one very rich man was al
WAYS dealing in money, and he made a
great deal, but was not satisfied without
6igh interest. 60 he leht most OF his money
TO some people who he thought were very
rich. at a very high rate; and he often
told how much he got, till one day the peO-
pie he lent TO went 10 smash. Hegot back
about ten cents on the dollar of his money.
l know another Old gentleman, who had
some bank stock and he went 10 the bank
and got ten per ceAt. dividend The PTesl-
dent and everybody said il was the best
stock in the cOuntry-paid ten per cent
Bnt what did the old man do but sell his
stock the next day Why. WAY, said
everybody. Because, It payS TOO much dtCt-
dead And in SIX months the bgnk went
to smash Now, that know TO be 4 fact.
Well, Mr.. Smith, YOU say railroad stocks
are best, because they pay high dividends
Can you tell how lOu~ they Will pay them
/ like railroads heived To build one, and
IgO in for useful things. But 1 tell what l
kHOac about them. one third OF the rail-
roads don't pay any dividend. and twO-thirds
land some OF them cracked up too do
not pay as much as Government stocks
Now that brings me 10 the government Sc
curities, and | will tell you why prefer
them. l take il you will admit, Nr. Smith,
that in the long run the investm mt which
is best should have these qualities First,
it should be perfectly secure: secondly, that
the iucome should be uniform and l'crnaa-
neRt-not up one year aud down the next;
and thirdly, that il should be marketable,
so when your wet day comes. and YOU want
your money, You can get IL back. And thinl
these rOtes or bonds have got these quail
ties more than any other kind of personal
property you can name. Try it,"
First, then. / have been looking into
that great book YOU call the Census Stats
ties used 10 think il wasen't worth much;
but since l began 10 study il, l tell you,
found ont a good many things very useful
for me TO know. | found out by looking al
the corps, and the factories and shippings
SC, that We II don't mean the Rebel Statesl
are making thousand millions OF dollars a
year more than We spend. 80 You see that
(since the increase of debt isn't half that
We are growing rich instead of poorer. rs
John Bull and the crOakerS would have Us
think Then the debt will be paid. anyhow
no matter how long the war Is Besides
did you ever hear OF a Government that
broke before the people did. Look into
yeur big histories, Mr.. Smith, aud you will
ind the people bOtore the Governments
Well, then, call that stock perfectly secure.
Secondly, You want the income uaifOrm
and permanent. Well want YOU TO take
up list Of banks, railroads, mines. insu-
rance cOmpanies-anything YOU choose
and tell me (honOr bright. now y how many
have paid uniform income for ten or
twenty years. Not one in a hundred. Mr..
Smith, and you know il"
NOW here is the Government Will pay
you without varying a title Now l like
something that gives me my income every
year.
lnlrdy, you want something which is
marketable any day in the year. Now if
you will ask any hank President he will
tell you that GOrerNmsAt stocks are The OsI5
KIND or property that IS allrayS salaJle he
cause they viii sell dEytrbere is the ,ror1}
Now, Mr. Smith, this is lchy put ny
little savings inGOvernment stocks. leon
less, too, that l wanted 10 help that dear
old country. which Is n1y home and an,
country" u confess. said Mr.. smith -
hadn't thought Of all this. There i oood
deal OF sense in what you say. and M, on.
so far as TO put two or three thousand al
iars IN United states stocks. II can do no
HARM N' "o
We left Mr.. Smith going toward the hank
ana Poor Richard returning home. with
mat eainhand placid air which indicated
tne serenity OF his disposition and the con-
seriousness Of doing right towards his coun-
try and his fellow man.