Fremont journal. [volume] (Fremont, Sandusky County [Ohio]) 1853-1866, 1864-09-09
'OOr Richards Reasons for buying United
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Poor Richards Reasons for buying United
't+ 3'o' States Securities. -'iit
The other day we heard rich neighbOT say be |
had rather have railroad stocks than the u.
stocks, for they paid higher interest Just then
poor Richard came up, aud said that he Just
bought some Of Uncle Sans three year notes,
paying seven and thEee-teHths per cent interest
My rich friend exclaimed, sYOuI l. thought you
had nO money Ia buy with "Yes," said RICH
ard, al 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 knoxn to- all tbe.
country round To be a very prudent industrious
aud virtual, wise man; for Richard never learn
ed anything he didn't know how to make use Of
aud h's wisdom and prudence had become a
PFOyerb- So, when he took out his savings. and
bought the notes. more than one was surprised
and it was wonder rich Mr. Smith asked why.
So poor Richard, III very quite humble way
for he never assumed ything-Teplied Il sun
pose, Mr.. Smith, you know great deal better
than D do what 10 do with money and how to
invest; for | never had much, and all got had
10 work hard for. But have looked round a
good deal upon my neighbOrs and seen what
they did with their money and ! will tell you
some things saw and what thought of. One
very rich man was always dealing in money.
aud be made great deal but was never satis-
iied without high interests So he lent most Of
bis money to some people who he thought were
very rieh at a very high rate; and he often told
how much he gOi, till one day the people he lent
TO went tO smash. He got back about ten cents
on dOilar of his money. ] know another old
gentleman, who had some bank stock and he
wehtto the bank dgot ten per cent. dividend.
Ibe President and everybody said it WAS the
best stock IN the country-Paid ten per cent
But what did the old man do but SeH his stock
4 fl,s,n ns.NfH hu1 a IL.
Because, it pays too mach ,ticieJe1,d And in six
months the bank went to smash. Now, that
j know to be fact. Well Mr.. Smith, YOU say
railroad stocks are hest, because they pay ki9k
dividends? Can you tell how long they will
| pay them2 1 like railroads. / helped Ca build
vne, and go IN for useful things But tell
| you what k5,oto about them. One-thirci of the
railroads don't pay diridelsd, and two thirds
| (and some OF them cracked up, tOO,) do not pay
as much as Governments stocks. Now that brings
me to the Government securities, and | will tell
| you why preferthem- / take it you will admit
Mr. Smith, that in the long run the investment
(which is best should have these qualities: First
lit should be perfectly secure: secondly, that the
Income should be uniform and 11ermancat-not
Iup one year and down the next; and thirdly,
Ithat it should be marketable, SO when yOur wet
Iday comes, aud you want your money, you can
fget it back. And / think these notes or bonds
kind of OfpeTsonal property you eau name. Try
Fit. .i 4 -r, ttia a.
First then, have been looking into that great
book you call the Census Statistics / used TO
Ethink il wasn't worth much; but since began
ltostudy it, tell You, L found out good many
Things very useful for me to know. I found out
lby looking at the crops, and the factories and
lshpping, DC, that we (I don't mean the Rebel
IStates) are making an thousand millions of dol
lars year more than we spend. So you see
THAT (since the incFeaseSOf detbs isn't half that)
1--we are growing rich instead Of poorer, as John
bull and tbecroakers would have us think
Then the debt viii be paid, any how, no matter
how long the war is Besides, did you ever hear
IOfs Government that broke before the people
ibid? Look into your big histories, Mr. Smith,
land you will find the people break before the
Government. Well, then call that stock per-
lfectly secure. .a b. 15ia
Secondly, You want the income uniform and
} lpeT1Rdnent, Well want you to take a list oi
banks, railroads, mines, insurance companies
I Ianything you choOse-and tell me (hOnor brigh
nowi) how many have paid a uniform incom,
J for ten or twenty years. Not one in HUNDRED
Mr.. Smith, and you know it. -f,.-. 4. +,
J "NOw here is the Government will pay Yo,
without varying title. Now like kesomethin.
that gives me my income every year a4ii'i
Thirdly, you wantsOmething which is mark
etd6te any day IN the year. Now, if you ask
: any bank President, he viii tell you tha
Government stocss are The only kiHd lproperti
that SdloGys SGLdble because they will sell q,ev
lohere in The lOOrId a H -H r-- =
Nov, Dir. Smith, that is aOhy put my littl,
savings in Government stocks. confess, too
, that | wanted TO help that dear old country
which il By home and nay country i"I confess,
said Mr.. Smith. Il han't thought Of all this
There is good deal of sense in what you say
and will go so far as TO put two or three thous-
! and dollars in United States stocks. Il can dC
, no HARM" ~j .i'rec l
We left Mr. Smith going towards the bank
and Poor Richard returning home, with tha
} calm aud placid air which indicated the seren.
ity ofhis disposition and the CONSCIOUSNESS 0
doing right towards his country aud his fellow
> man. ,-...--