The Union. [volume] (Georgetown, Del.) 1863-1866, 1864-09-02
Poor Richards Reasons for buy
ing United States securities.

ing United States securities.
The other day we heardN rich neighbor
say he 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 interest. My rich friend
exclaimed, "Youl / thought you had no mo-
ney to buy with" YES" said Richard,
~ had o little laid up, for you know it is
well 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 be a very prudent and
industrious, and withal, wise man; Richard
never learned anything he didn't know how
to make use of, and his wisdom and prudence
had become proverb. So, when he took
out his savings and bought the notes, more
than one was surprised, and II was no won-'
der rich Mr.. Smith asked why. Poor Rich
ard, in very quiet humble way--fassh he
never assumed anything-replied, II 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
I ,:ot had to work hard fr But ! have
lo, ked round good deal upon my neighb1rs
and seen what they did with their money
and tell you some things saw and what
Thought ofit.- oo.i,ss very rich man vas nj.
ways dealing ia money. and he made ercat
deal. but was pevor satisfied without hin
interest. So he lent most of his money ito
sone people who he thought were very rcl
at very high rate and he often told h W
much he got, till one day the peop'e he lent
to went to smash. lie got back about ten
on dollar of his money. know an iher
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 pa'd
ten per cent. But what did the nls man do
hut sell bis stock the next day! Why? why?
SAID everybody. Because, it pays TOO much
dividend. And in six months the bank went
To smash. Now, that / know to he fact.
Well, Mr. Smith, you say railroad stacks are
host, because they pay high dividends?-
Can you tell how long they will pay them
Ike railroads. helped to build one, and
7 co in for useful things. But tell you
what kao,c about them. One-third of the
railroads don't pay any dividend, and two
thirds land some of them cracked up, too,
dn not pay as much as Government stocks
; Now that brings me to the Government secu-
rites, and will tell you why prefer them
7 take it you will admit, Mr. Smith, that in
the long run the investment which is bes
should have these qualities: First, it shculf
he perfectly secure: secondly, that the income
should be uniform and permanent-nos nv
one wear and down the next; and thirdly
that II should be marketable, so when YOU
wet day comes, and you want your money
| You can get it back. And / think thes
notes or bonds have got these qualities NOR
4 than my other kind of personal propert,
you can name. Try it.
"First, then, have been looking into tina
!; great book you call the Census Statistics.
ueod m think it wasn't worth much :. bu
since began to study it, tell You, I fouu
out good many things vcrv useful for m
: to know. found cut, by looking at tn
!, crops, and the factories and shining. &c
that we II don't mem the Rebel States) ar
:. making at housand millions or dollars yea
more than we snend. So YOU see that tsinc
the increase Of dept isn't half that) we AZ
: growing rich instead of poorer, as John Blu
and the cronkers would have US think. The
the debt will be paid, anyhow, no matte
how long the war Is. Besides, did you eve
y hear off Government that broke before II
III people did? Look into your big historic
he Mr.. Smith, and you will find the peon
at break hef re the Governments, WE'LL the
Sc I call that stock perfectly secure.
h Secondly, you want the income uafor
;s and permanent. Well; want ynu to tn
10 up list of banks, railroads mines, iusuran
compsnies- anything you choosc--1nd re
~ me (honor bright. nov! how many ha'
AZ paid uniform in.ome for ten or tweu
years. Not one ina hunl,el, II. Smit
IN and you know it.
re Now here is the Government viii pa
you without varying little. nav LII
IN something that gives me my inc me evei
q. year.
es Thirdly, you want something which
- marketable any day in the year. Now,
o. you will ask any bank President, he " Il Il
u' you that Government stocks are the only XII
Of property that is altodys salable, becau
they will sell any,ohere in the toorld,
snow, Mr.. Smith, this is Why put my
100 tie savings in Government stocks. conf,
too, that wanted to'help that dear old COT
try, which is my home and my countr,
lu- 81 confess" said MIR. Smith, Il had
thought of all this. There is good deal
he sense in what you say, and will go 80
ng as to put two or three thousand d,llars
ers United States stocks. 1t can do no harm
Sc We left Mr.. Smith going towards the ba
nm and Poor Richard returning home, with I
$50, calm placid air which indicated the serer