The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1864-08-31
from Harper's Wesky.]
Poor Richards Reasons for Buying United
States Securities.

the u. Stocks, for they paid higher in
terest. 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, "YouI | though, you had
no money 10 buy with" Eyes" said Rich
ard, 81 had a little laid up, for you know it
is well 20 have something laid up against a
wet day, and | nave kept a little of MY
earnings by me-" Now Poor Richard is
known to all the country round 10 be a very
prudent and industrious, and withaI, wise
man for Richard never learned anything
he didn't know how to make use of, and
his wisdom and prudence had become a
provsrb. So, when he took out his savings
and bought the notes, more than one was
surprised, and it was no wonder rich Mr..
very quiet humble way-for he never as
somed anything-replied, 81 suppose, Mr..
Smith, you know a great deal better than !
do what 10 do with money, and how to in
vest for never had much, and all | got |
had to 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 it. One very rich man was al
ways dealing il money, and he made a
grea' deal, but was never satisfied without
high interest. So he lent most OF his money
to some people who he thought were very
rich, al a very high rate ; and be often told
how much he get, till one day the people
he lent 10 went 10 smash. He got back
about ten cents on a dollar OF bis 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
counlry-paid ten per cent. But what did
the old man do but sell his stock the next
day |! Why? why ? said every body. Be-
cause, it pays too much dividend. And in
six months the bank went 10 smash. Now
thGt know to bs a fact. Well, Mr.. Smith,
you say railroad stocks are best, because
they pay high dividends ? Can you tell how
long they will pay them | like railroads.
helped to bnild one, and l go in for useful
things. But | tell you what | know about
them. One-third of the railroads DOM pay
any dividend. and two-thirds (and some of
them cracked up, too,) do not pay as much
as Government stocks. Now that brings
me TO the Government securities, and | will
;ell 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 be perfectly
secure secondly, thar the income should be
UNIFORM and permanent-nol up one year and
down the next : and thirdly, that it should
be marketable, so when Jour wet day comes,
and you want your money, you can get il
back. And | think these notes or bonds
have got these qualities more than any 9th.
er kind of peraonal property you can name
Try il.
'Flrst, then, l have been looking into
that grea, book vou call the Census Statis-
tics | used 10 think il wasn't worth much
bat since | began to study it, | tell you,
found ont a good many things very usefu.
for me to know. | found out, by looking
at the crops, and the factories and ship.
ping, &C., that we & don't mean The Rebe
States) are making a thousand millions of
dollars q year more than we spend. ST
You see that isince the increase OF deb
isn't half that we are growing rich instead
of poorer, as John Bull and the croaker.
would have US think. Then the debt will
be paid, anyhow, 30 matter how long the
war is. Besides, did you ever hear Of
Government that broke before the people
did Look into your big histories, Mr.
Smith, and you will find the peopte break
before the Governments. Well, them, | cal
that stock perfectly secure.
Secondly, you want the income uniform
and permanent. Well, want you to take
up a list of banks, railroads, mines, insur-
ance companies-anyihing you choose
and tell me (honor bright, nowD how many
have paid a uniform income for len or twen
ty years. Not one in a hundred, Mr.. Smith,
and you know it.
"Now here is the Government will pay
you without varying a title. Now I like
something that gives me my income every
year.
"Thirdly, you want something which il
marketable any day in the year. Now, il
you will ask any bank President, he viii
tell you that Government stocks are the only
kind of property that is always salable, be-
cause they will sell anywhere in the world
Nov, MIR. Smith, this is why | put my
little savings in Government stocks. / con.
Tess. too, that wanted TO help that dear old
country, which is my home and ma coun-
try" al confess" said Mr.. Smith, 81 hadu'
thought of all this. There is a good deal o.
sense in what you say, and ] will go so fal
as to put two or three thousand dollars il
United States stocks. II can do no harm"
We left Mr.. Smith going towards the
bank, and Poor Richard returning home
with that calm and placid air which indica
ted The seraniiu of his diynnsitinn and tho