East Saginaw courier. (East Saginaw, Mich.) 1859-18??, 1864-08-31

United States Securities.
The other day we heard q rich
neighbor say he had rather have rail
road stocks than the U. s. stocks, for
they pay niger interest just than
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, "You i
thought you had no money to buy
with" eyes," said Richard, 81 had
a little laid up, for you know it is well
to have something laid up against a
wet day, and 1 have kept little Of
my earnings by me-" Now, poor
Richard is known to all the country
round to be very prudent and indus
trious, and withal, wise man; for
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 it was 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 a great deal better
than L do what to do with money, and
how to invest; for never had much,
and all l got l had to work hard for.
But L have looked around great deal
upon my neighbors, and seen what
they did with their money and l will
tell you some things saw and what
l thought Of it. One very rich man
was always dealing in money, and he
made a great deal, but was never sat
isfed without high interest. So he
lent most Of his money to some people
who he thought were very rich, at a
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 q dollar of his
money. l know another old gentle
man 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-paid ten per cent
But what did the old man do but sell
his stock the next day! Why? why?
said everybody. Because it pays too
much dividead. And in six months the
bank went to smash. Now, that i
know to be a fact Well, Mr.. Smith,
you say railroad stocks are best, be-
cause they pay high dividends? Can
you tell how long they will pay them.
/ like railroads.. i helped TO build
one, and L GO in for useful things
But 1 tell you what / know about
them. One-third Of the railroads
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 i will tell
you why l prefer them. l 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
that the income should be uniform and
perma,tnt-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 l think these
notes or bonds have got these quail
ties more than any other kind of per-
sonal property you can name. Try it.
"First, then, 1 have been looking
into the great book you call the Cen
sus Statistics. i used to think it
wasn't worth much; but since | be-
gan to study it, tell you, ! found out
good many things very useful forme
to know. found out, by looking
at the crops, and the factories and
shipping, &C., that we Il don't mean
the Rebel States) are making u thou
sand millions of dollars year moro
than we spend. So you see that (since
the increase Of debt isn't half that
we are growing rich instead of poor
CT, 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 q Government that broke be-
fore the people did9 Look into our
big histories, Mr.. Smith, and you will
find the people break before the Gov
eminent. Well, then / call the stock
perfectly secure.
Secondly, you want the income
uniform and perm6'oa. Well, / want
you to take up list of banks. rail
roads and mines, insurance companies
anything you choose-and tell me
! n "a L 4