The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1864-09-16
Poor Richards Reasons for buying
United States Securities.

The other day we heard rich neighbor
say he had rather have railroad stocks than
L. S. stocks, for they paid higher interest.
Just then Poor Richard came up, and said
that he Just bought some Uncle Sans three
year notes, paying seven and three tenths
per cent interest. My rich friend exclaimed.
,'You thought YOU had no money to buy
with" "Yes," said Richard. " had little
laid up, for ypu know it is well to have
something laid up against wet day, and l
have kept little of my earnings by me.
Now Poor Richard is known to all the coun-
try round to be very prudent and industri-
Gus, and withal, wise man for Richard never
learned anything he didn't know how to make
use Of, and his wisdom and prudence had be-
come proverb. S when he took out his
savings and bought the notes, more than one
was surprised, and it was no wonder rich
Mr.. Smith asked why. SO poor Richard, in
very quiet humble eay-for he never assu-
med aaythIus-replied, Il suppose, Mr..
Smith. yoa, know a great deal better than l
do what to do with money, and how to in
lest; for | never had much, and all got
| had to work hard for But | have looked
round good deal upon my neighbors, and
seen what they did with their money and
lyyIll TOLL Nd hot
! thought of if. One very rich man was always
dealing in money, and he made great deal,
but was never satisfied without high interest
SO he lent most of his money to some people
who be thought were very rich, at very
got till one day the people he lent to went
to smash. He got back about ten cents on
dollar of his money. know another old
gentleman, who had sUme bank stock and he
went to the bank and got ten per cent. divi
dend. The President and every body said it
was the best stock in the country-paid ten
/ per cent. But what did the cd man do but
sc" ''' Sloeh 'Hc HtAt uaf why why
said everybody. Because, it pays too much
di-idead. And in six months the bank went
to smash. Now, ttat know TO be fact
We'll, Mr.. Smith, You say railroad stocks are
best, because they Fay hiyh dividends: Can
! YOU tell how long they will pay them >
ike railroads. helped to build one, and
60 in for useful things. But tell YOU what
/ I,.or about them. On--lhird of the rail-
roads don't pay any dividend. and two thirds
( land some of them cracked up, too.) DO not
pay as much as Government stocks. Now that
brings me to the Government securities, and
will tell you why prefer them. L take IL
,ol viii adGs.t, Mr.. Smith, that in the long
run the investment which is best should have
these qualities:
First, it shodld be perfectly secure second
". that the income should be uniform and
Pdmdneat-Eot up one year and down tn.
next; AMI thirdly, that it should he market
Ctle, so when Your wet day comes, and YOU
Sant your money, You can get it back. And
think these notes or bonds have got thess
qualities more than any other kind of person
al property you can name. Try il.
First, then. have been looking int
that great book you call the Census Stats
tics. | used to think it wasn't worth mNch
but since began 10 study it, | tell You,
found out good many things very usefr
for me to know, found out, by looking a
the crops, and the factories and shipping
&C., that we Il don't mean the Rebel States
: are making a thousand millions of dollars
year more than we spend. So you see tha
1 (since the increase of debt isn't half that W
i are growing rich instead of poorer, as Joh
Bull and the croikers wOrld have US think
Then the debt will be paid, anyhow, no ma,
ter how long the war is. Besides, did 70
ever hear Of a Government that broke befor
the people did ? Look into your big histo
= les, Mr.. Smith, and you will find the peop
;. break before the Governments. Well, the
= | call that stock perfectly Secure.
:, Secondly, you want the income unifor,
:. and permanent. Well, walt you to tax
. up a list of banks, railroads, mines, insuran,
u, Companies anything you choose-and te
me thonor bright, now y how many ha,
paid uniform income for ten or twenty VI
Not one in hundred, Mr. Smith. and "
/, know it.
-. Now here is the Government will p
=, YOU without varying little. Now | Ill
something that gives me my income eve
be year.
Thirdly, you want something which
10 marketable any day in the year. Now. if y
- will ask my bank President, he will tell y
that Government stocks are the only kind
property that is alvays solabIe, because tn
IN will sell Gnywhere IN the ,c0rld.
ad Now, Mr.. Smith, this is uby | put l
ha little savings in Government stocks. / ct
III fess, too, that | wanted to help that dear
n, country, which is my nome and my countr
81 confess said Mr.. Smith, 81 had
thought of all this. There is good deal
-na sense in what you say, and will go so far
or 20 put two or three thousand dollars
. , United States stocks Il can do no harm
80 We left Mr.. Smith going towards
,er bank, and Poor Richard returning home,v
tbs that calm and placid air which indicated
or serenity of his disposition and the conscic
a., ness of doing right towards bis country