Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1864-08-26

Poor Richards Reasons for buying United
States Securities.
The other day we heard a rich neigllbor say he.l
had rather have railroad stocks than III 81 stocks,
for they paid higher interest just then Poor
HelHird came up, and sud that he just bought
some of Unee Sans three year notes. paying sew
en- and three tenths per cent. interest Ny rleh
friend exclaimed 'sAou | thought you had no
money to buy with " Yes, said Richard, 4
had ttle laid up, for you know it IS well to have
something laid ap AGAINST a wet day. and nave
kept little of my earnings by me- Now oof
Richard Is known TO all the country round 10 pe q
Very prudent and industrious, and wIthah wise
man; for Richard never learned anything hedidn
know how to make use Of, and his wisdom ana
prudence had became a proverb, 80, when ne
| took out his savings and bought the notes more
than one was surprised and it was no wonder rich
! AIr Smith asked why. SO Poor klchard, III q
very quiet humble Way-for he never assumed
anything-replied, ] suppose, Mr.. Smith, yo1
know a great deal better than lido what to do with
money, and how to invest; for never bad Inucn,
! and ell got had to work hard Tor. But nave
looked round good deal upon my neighbers, ana
seen what they did with their money ana VIII !
| tell You some things | saw ana what thought oi
/ II One very rich man was always dealing IN mon
on. and he made a great deal, but was never sats
! Jed without hiqh interest. So he lent most OF his
money to some peonle who he thought were very
rich, at q very high rate ; and he often told now
much he got, till one day the people ne lent 70
went to smash, He got back about ten cents ol 4
| dollar of his money. know another old gentle
mau, who had some bank stock ana he @ehi n,t -
| the bank and got ten per cent. dividend, ne
President ana everybody said II was the best STOCK
IN the country--paid ten per cent. But WhaJ {ua
the old man do but sell his stock the next day -
WHY why said everybody Because, IT palS
too much 1iridei,d. And IN sx months the = pank
went to smash. Now, that Know TO pc Iael.
Well Mr. Smith you say railroad stocks are pest,
/ beeaIise they pay Ifqh dividends ? Can you tell
how long they Will pay them like ralroads.-I !,
! + belped to build one, and ! go III tor useful
| things But / tell you what dtfcic about thehl.
0ne-third Of the railroads don pay aag diNlaeho'
and two thirds land some or them cracked up
/ TOO do not pay as much as Government stocks
| Now that brings me to the Government securities,
and / will tell you | prefer them. ! take It you
| viii admit Mr. Smith, that IN the long run the
investment which IS best should have these quail
tiles First, it ahould be perfectly secure: see,
! endly, that the income should be alryofHt a'aet
/ perntdneRt-not up one year and down ihe heAt >
and thrcllv that it should be nldrseta6te 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 oth-
er lind Of personal property you can name, II!
! sFirst, then, ] have been looking into that
great book you cali the census StatlsucS usea
I to think it WASH t worth much but since began
4 I'd. study IT. / tell YOU found out a good many
! things verv useful for me to know found out.
bv looking at the crops and the factories and shlp-
hing Re that we Ct don mean the Rebel otatesj
Are making a thousand millions OF dollars a year
! more than we spend. 30 you see that tslhce tiie
increase of debt ism half thatl we are growing
reb instead Of poorer, as Joha Bull and the croak
/ ers TouId have US think Then the debt viii be
| maid. ANYHOW, no matter how long the War Is
1 Resides did You ever hear of Government they
| broke before the people did Look into your big
histories, Mr. Smith and you will lind the people
! break before the Governments. ell, then, L
| call that stock perfectly secar: :.
| Secondly you want the income Nitfof3t Gt3
| permanent Well, | want you to take up Inst
of banks, railroads, mines, INSURANCE eomp3n!eS
| anvtiine yoll choose-and tell me taonor bright
now 4 how many have paid a ratgolpa income Iof
ten or twenty years Not onem hundreds 9lr
Smith and you know It. :,
ssNow here is the Goyernment wrl pay You
without varvinea title. Now | Ike something
that gives me my income every year.
Thirdly YOU want something winch Is laGf2-
etabfe any day in the year Now, II you VII ask
any bank President, he viii tell you that tf0ce'h-
1,ecat stocks are the only kind n property tiat ls
nl.cae salaJle, because they will sell dayGhee fR
the ,coFid
Now, Mr.. Smith, this is aoHy put my little
savings in Government stocks. / confess, too,
that wanted to help that dear old country, which
is D,y home and my country. | confess ~ said
Mr. SIaith j hadn t thought OF all this here
is a good deal of sense III what you say aud VIII
60 80 far as to put two or three thousand dollars
I'm United States stocks. 1t can do no harm
/ We left Mr. Smith going towards the bank, and
Poor Richard returning home, with that calm and
placd air which indicates the serenity OF hls dis
position and the consciousness OF DONG right to-
wards his country and his fellow man.