The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1864-09-03
Poor Richards Reasons for Buy
ing United States Securities,

The other day we heard rich neighbor
say he had rather have railroad stocks than
the U. S. stocks, for they paid higher inter
est. Just then Poor Richard came up, and
said that he just bought some of Uncle Sam
three years notes, paying seven and three
tenths per cent. interest. Ny rich friend
exclaimed, "You | thought you had no
money to buy with eyes" said Richard,
81 had little laid up, for you know it is
we'll to have something laid up against wet
day, and have kept little of my earnings
| by me-" Now Poor Richard is known to
all the country round to he very prudent
and industrious, and wthal, wise man for
Richard never learned anything he didn' t
know how to make use of, and lis wisdom and
prudence had become provclb So, when
he took out his savings and bought the notes.
more than one was surprised, and twas no
wonder rich Mr.. Smith asked why. SO Poor
Richard, in a very quiet humble way--for he
never assumed anything-replied, 81 sup
pose. Mr. Smith you know great deal bet
ter than | do what to do with money, and
how to invest; for never had much, and all
got | lad to work hard for. But have
| looked round good deal upon my neighbors
and seen what they did with their money;
| | will tell YOU some things | saw and what
| thought of it. One very rich man was always
| dealing in money. and he made great deal
out was never satisfied without high interest
/ SO he lent most of his money to some people
| uIp hn Of l. IL
rate and he often told how much he got
till one day the people he lent to went to
smash. He got back about ten cents on a
dollar Of his money. | 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. Butwhat did the old man do but sell
his stock the next day! Why? why? said
everybody. Because it pays too much diri-
7end: And in six months the bank went to
smash. Now that | know to be fact
| Well, Mr.. Smith, you say railroad stocks are
rest, because they pay high dividends? Can
YOU tell how long they will pay them? I like
| railroads. ] helped to build one, and 90
| in for useful things. But tell you what |
! know about them. Orethird of the railroads
don't pay any dividend, and two thirds land
some of them cracked up, too.) do not pay
rs much as Government stot ks. Now that
| brings ME to the Government securities, and
| will tell you why prefer them. take it
YOU will admit, Mr.. Smith, that in the long
run the investment which is best should have
these qualities: First, it should he pcrfectly
secure; secondly, that the income should be
uniform and permanent-not up one year
and down the next; thiruly, that it should
ne marketable, so when your wet day comes.
and you want your money, you can get it
back And think these notes or bonds
have got these qualities more than any other
ind OF personal property you can name
| Try it.
First, then, have been looking into that
great book you call the Census Statistics.
used to think it wasn't worth much but
| since | began to study it, tell you. | found
ont a good many things very useful for me to
know. | found out. by looking at the crops;
and the factories and shipping. &c, that we
| Il don mean the Rebel States are making
a thousand millions of dollars year more
| than We spend. SO you see that since the
increase of debt isn't half that we are grow
ing rich instead of poorer, as John Bull and
he croakers would have us think. Then the
debt will be paid anyhow. no matter how
long the war is. Besides did You ever hear
- r'po'iI''''G.': lna' proNe before inc pGo'
,e o,u ''o"n ,mIp A",T nls histories NJ
L 'nith' anu you VIII ma tne people qreaK
IuIott 'lit uoTerl I Well 'hei' call
INA. sto'h P H. Sec"'t e. .-...
anal noc"u? y" E VAN 'ne income ""9orm
"m' g T.t 20 h", we'll want yon TO take
toll mo Ihnnnrhr;,h ,,a', h',. ,,,,,. L,,,.a
mid a ,aiGr,, ncnn,n gor r,.'", n,'t