Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1864-08-11
Poor Richards Reasons for buying
United States Securities.

/
The other day we heard rich ineighbor
say he had rather have railroad stocks than
the e. s. stocks, for they paid higher in
terest. Just tfen 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. Ny rich
friend exclaimed, "You! I thought you
had no money to buy with" eyes," said
Richard, II had little laid up, for you
know it is well to have something laid up
against wet day, and I have kept little
Of my earning by me-" Now, Poor Rich
ard is known to all the country round to
be very prudent and industrious, and,
withal, wise man for Richard never
learned anything he didn't know how to
make use of, and his wisdom and pru-
dence had become a proyerb. So, when he
took out his savings and bought the notes,
more than one was surprised, and twas no
wonder rich Mr. Smith asked why So
| Poor Richard, in a very quiet humble way
for he never assumed anything-replied,
81 suppose, Mr.. Smith, you know great
deal better than / do what to do with
money, and how to invest; 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 will tell you
some things saw and what l thought of
| it. 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 he thought were very rich, at
very high rate; and he often told how much
he got, till one day the people he lent to
went to smash. He got back about ten
cents on a dollar of his money. i 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
countrywide ten per cent. But what did
the old man do but sell his stock the next
day Why? why? said everybody. Be
cause, it pays too much dividend. And in
six months the bank went to smash. Now.
that know to be a fact Well, Mr.. Smith
you say that railroad stocks are the best.
because they pay high dividends? Can you
tell me how long they will pay them? [
like railroads. helped to build one, and
! 60 in for useful things But tell You
what know about them. One-third of the
railroads don't pay any dividend, and two
thirds (and some of them cracked up, too, )
don't pay as much as Government stocks
Now that brings me TO the Government Sc
curities, and vii, tell you why l prefer
them. I take it you will admit, Mr. Smith.
that in the long run the investment whic!.
is best should have these qualities First,
it should be perfectly secure; secondly, that
the income should be uniform and peluea-
aent-not up one year and down the next !:
and thirdly, that it should be marketable, so
when your wet day comes, and you want
YOU. money, you can get it back. And
think these notes or bonds have got these
qualities more than any other of personal!
property you can name. Try it. o1
First, then, have been looking into that
great book you call the Census Statistics.
| used to think it wasn't worth much; but
since | began to study it, l tell you, |.
found out good many things very useful
for me to know. found out, by looking
at the crops, and the factories-and shipping,
&C., that we q don't mean the rebel Statesl
are making thousand million dollars more
than we spend. So you see that (since the
increase of debt isn't half that we are
growing rich instead of poorer, as John
Bull and the croakers would have us think
Then the debt will be paid, anyhow, no
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
people break before the Governments. Well.
then, call that stock perfectly secure.
Secondly, you want the income uniform
and permanent. Well, | want you to take
up list of banks, railroads, mines, insuir
ance companies-anything you choose
and tell me (honor bright, now y how manv
have paid a uniform income for ten or
twenty years. Not one in hundred. Mr..
Smith, and you know it.
Now here is the Government will paw
you without varying title. Now like
something that gives ne my income every
year.
Thirdly, you want something which is
marketable any day in the year. Now, i'll
you will ask any bank President, he will
tell you that Government stocks are the
only kind of property that is always sala-
bic, because they will sell anywhere in the
world.
Now, Mr.. Smith, this is why l put my
little savings in Government stocks. L /
confess, too, that wanted to help that dear
n L