The Grand Haven news. [volume] (Grand Haven, Mich.) 1858-18??, 1864-08-31
Poor Richards Reasons for Buying
United States Securities.

tOi o"N HS ii'H ItttlcI nave IdllTOAu SJOCkS
than U. S. stocks, for they pay n higher
interest. Just then Poor Richard came
up, and said that he had just bought
some of Uncle Sans three wears notes,
paying seven and throe.tenlhs per cent
interest Ny rich friend exclaimed, "You!
thought you had no money to buy
with" "Yes," said Richard, 81 had n
little laid up, for yousknow il is well to
have something laid up against wet day,
and have kept little Of my earnings
by me-" Now poor Richard is known to
all the country round TO be prudent and
industrious, and withall, II wise man; for
Richard never learned anything he didn't
know how to make use of, and his wis
dom and prudence had become proverb.
So, when he took out his savings and
bought the notes, more than one was sur
prised, and it was no wonder rich Mr..
Smith asked why. So Poor Richard, in
n very quiet humble way---for he never
assumed anything-feplied, IL 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 around upon my neighbors,
and seen what they did with their money
and | will tell YOU some things saw aud
what / thought Of it. One very rich
man was always dealing in money, aud
he made great deal, but was never sat
isfied without high interest. So he lent
most of his money to some people who
he thought we're very rich, at very high
rate; and he often told how much money
he got, till one day the people be lent to
went to smash. He got about ten cents
on a dollar of his money. know anoth-
er old gentleman, who had some bank
stock and he went to the bank and pot
ten per cent. dividend The President
and every body 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? whyg said
every body. Because, it pays TOO much
dividend. And in six months the bank
went to smash. Now, that know to be
fact. Well, Mr.. Smith, you say rail
road stocks are best, because they pay
high dividends Can you tell me how
long they will pay themG | like rail
roads, helped to build one, and / 90 in
for useful things. But tell you what |
know about them. Ohe-third Of the rail
roads don't pay any dividend, and two
thirds (and some of them cracked up, to,)
do not pay MS much as Government
stocks. Now that brings me to the gov
ernment securities, and will tell YOU why
l prefer them. | take you will admit,
Mr.. Smith, that in the long run the in
vestment which is best should have these
qualities: First. 1t should be perfectly
secure; secondly, that the income should
be uniform and permanent up one
year and down the next; and thirdly,
that it should be marketable, so when
your wet day comes, and you want your
money, you can get it back. And l think
these notes or bonds have got these quail
tiles more than any other kind of person.
al property you can name. Try it.
"First, then, have been looking into
that great book you call The Census Sta
tistics. l used TO think it wasn't worth
much; but since l began TO study it,
tell you, found out good many things
very useful for me to know. found out
by looking at the crops, and the factories
and the shipping &c, that VIC Il don't
mean the Rebel States) are making a
thousand millions of dollars a year 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 bo paid,
anyhow, no matter how long the war is.
Besides, did you ever hear Of Govern
ment that broke before the people did p
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 mi
form and permanent. Well, want YOU
to take up list Of banks, railroads,
mines, insurance companies-anything
you cboose-and tell me (honor bright,
now J how many have paid a unit6rns
income for ten or twenty years. Not one
in hundred, Mr.. Smith, and you know
il.
"Now here is the Government will pay
you without varying title. Now | like
something that gives me my income eve
ry year.