The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1864-08-24
Poor Richards Reasons for
buying United States Securities.

OOE D4CAAdGEAA 4NCGbSOAA0 wi
buying United States Securities.
TIE other day we heard a rich neighbor
say he had rather have railroad stocks
than the U. s. stocks, for they paid higher
interest. Just then Poor Richard came
up, and said that he just bought some of
Uncle Sans three years notes, paying
seven and three-tenths per cent. interet.
My rich friend exclaimed, "You! I
thought you had no money to buy with"
ayes" said Richard, 81 had a little laid up,
for you know it is we'll to have something
laid up against q vel day, and 1 have
kept a little of my earnings by me-" Now
poo Richard is known to all the country
round to be a very prudent and industri-
Gus, and withal, wise man; for Richard
never learned anything he didn't know
how to make use of, aud his wisdom and
prudence had becme a proverb. So, when
he took out his savings and bought the
notes, more than one was surprised, and 1t
was no wonder rich Mr.. Smith asked why.
So Poor Richard, in a very quiet humble
way-for he never assumed anything
replied "I suppose, Mr.. Smith, you
know a great deal better than I do what
to do with money, and how to invest; for
L never lad much, and all I got l had
to work hard for. But [ have looked round
a good deal upon my n%eighbors, and seen
what they did with their money | will
tell you some things I saw and what l
thought of it. One very rich man was
always dealing in money, and he made a
great deal, but was never satisfied without
high interest. So he lent 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 people
he lent to welt to smash He got hack
about ten cents on a dollar of his money.
1 know another old gentleman, who
had some bank stock and he went to the
bank and got ten per cent. dividend.
The president and everybody said it
Was the best stock in the country paid
ten per cent. But what did the old man
do but sell his stock the ncxt day! Why?
why? said everybody. Because, it pags
tho mach diUtdend. and in six months the
bank went to smash. Now, that I know
to be a fact. Veil, Mr.. Smith, you say
railroad stocks are best, because they pay
high dividends? Can you tell how long
J they will pay them? I like railroads 1
helped to build one, and I go in for useful
things. But I tall you what l kno,o about
tQCIu. Ou6-LulTu VI TIC IdliECduS oOu I
pay any dividend, and two thirds (and
some of them cracked up, too,O do net
pay as much as Government stock.
Now that brings me to the Government
securities, and 1 will tell you why I prefer
then. take it you will admit, MIR. Smith,
that in the long III the investment which
is Jest should have these qualities: First,
it should be perfectly secure: secondly,
that the income shouldibe uniform and
permanent-not up one year and down the
next; and thirdly, that it should be mdrke-
you want your money, you can get 1T back.
And 1 think these notes or bonds have
got these qualities more than any other
kind of personal property 20 can name.
Try it.
"First, then, I have been looking into
that great book you call the Census Static
tics. I used to think it wasn't worth
much; but since 1 began to study it, 1 tell
you. l found out a good many things very
useful for me to know. I found out, by
looking at the crops, and the factories
and shipping, &C., that we II don't mean
the Rebel States) are making a thousand
mi llions of dollars a year more than re
spend. So you see that(since the increase
1 Oh uGGb ISL Y hdAl lhdbJ We " SiO"ihS Itb
instead of poorer, as John Bull and the
croakers would have us think. Then the
debt will be paid, anyhow, nomatter how
long the war is. Besides, did you ever
hear of a Government that broke before the
people did? Look into your big histories,
MIR. Smith, and you will find the people
break before the Governments. well,
then, I call that stock perfectly secure
SECONDLY, you want the income ami
form and permanent. Well, 1 want you
to take up a list of banks, railroads, mines,
insurance companies-auything you choose
and tell me (honor bright, nowD how
many have paid a uniform income for ten
or twenty years. Not one in a hundred,
Mr.. Smith, and you know it.
"Now here is the Government will pay
you without varying a title. Now L like
something that gives me my income every
year.
"ThIrdly, you want something which
is marketable ony day in the year. Now,
if you will ask any bank President, he
will tell you that Government stocks are
the only Kind of porperty that rs aheays
salable, because they will sell any,chere IN
the acorld.
"Ncw, Mr.. Smith, this is whyI put my
little savings in Government stocks. 1
confess, too, that 1 wanted to help that
dear old country, which is my homo and
my country" ~ confess" said Mr..
Smith, II hadn't thought of all this
There is a good deal of sense in what you
say, and 1 will go so far as to put two or
three thousand dollars in United States
stocks. 1t can do no harm"
We left Nh. Smith going towards the
bank, and Poer Richard returning home,
with that calm and placid air which ind
Gated the serenity of his disposition and
the consciousness of doing right towards
his country and his fellow man.
Wholesale Surgery
A correspondent writes: GA few days
ago some three hundred rebel wounded
fell into our hands. OF these twenty one