The Cadiz sentinel. [volume] (Cadiz, Ohio) 1864-1911, 1864-09-07
Poor Richards Reasons for buy
ing United States Securities.


The other day we heard rich neighbor
say he had rather have railroad stocks than
the L. S. stocks, for they paid higher in
terest Just then Poor Richard came up,
and said that he jttst bought some of Uncle
Sans three year notes, paying seven and
three-tenths per cent. interest. My rich
friend exclaimed, You! l thought you
had no money to buy with " Yes" said
Richard, 81 had little laid up, for you
know it is well to have something laid up
against wet day, and have kept little
of my earnings by me-" Now Poor Rich
ard is known to all the country round to he
very prudent and industrious, and withal
wise man; for Richard never learned any
thing he didn't know how to make use Of
and his wisdom and prudence has become "a
provcrb So. when he took ont 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 assn
med anythimg-rcplied, Il suppose, Mr.
Smith, you know great deal better than |
do what to do with money. and how to in
vest; for ] never had much, and all got |
had to work hard for. But have looked
round good deal upon my neighhors, 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 in money and he made great
/ &, L.
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. lie got back about ten
per cents IN dollar Of his 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 eve
ryiOdy said it was the best stock in the coun
hy-paid ten per cent But what did the
OIL man do but scN his stock the next day
Why? why? sail everybody. Because, it
po3m too mHch dirilcUd. And in six months
the bank went to smash. Now, hW ]
know to be fact. Wen, Mr.. Smith, you
say railroad stocks are best, because they
pay hiyh dividends? Can you tell how long
they will pay them? | like railroads |
helped to build ono, and | go in Tor useful
thing. But tell you whatI EnoW about
them. Onethird Of the railroads don't
pay 0ay dividend, and two thirds (and some
Of them cracked UP, too.l do not pay as
much as Government stocks. Now that
brings ne to the Government securities, and
I will tell 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 perfect
W Secure: secondly, that tie income should
be 1UWtorm am1 DnDh1Rcaf-not mp one year
and down the next; and thirdly, that it
should be maricfui|c, SO when your wet day
comes and you want your money, YOU can
get it back And | think these notes or
bonds have got these qualities more tEIanany
other kind pcrsonaIpropery youcannamc
Try it,
First, then. have hccit looking into
that great book you call the Census StatiS-
tics used to think it wasen' worth much;
but since began to study it. | tell you.
found out good many things very useful
the crops, and the factories and shipping,
&c. that we Il don mean the Rebel States
are making thousand millions of dollars
year more than we spend. So you see that
lSincc the increase Of debt ism half that
We are growing rrh instead OF poorer, as
John Bull and the croakcrs would have us
think. Then the debt will he 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 peonle break before the Govern
ments Well then, | call that stock perfect
~ S~curp.
Secondly you want the income uniform
nnH pnmancm Well, | want you to take
up list of banks, railroads, mines, insu-
rance companies ANYTHING you choose
and tell me thonor bright. now y how many
have paid nitorn income for ten or TWEEN
ty years. Not one in a hundred, Mr.. Smith,
and Won know it.
"Now here is the Government will pay
YOU without varying title. Now like
something that gives me my income every
year.
''Thirdly, You want something which is
maihrtobr any day in t. ne year. Now, If
You will ask any bank President. he will tell
y0u that G0rrAnlqat Stochs are thr only
if,Rd Of Jropctv that is dl1cdM Stlcnbic be-
cause they will sell nnWrhrrc in tie morM
"Now, Mr.. Smith. this is why put my
little savings in Government stocks.-|
| confess, too that wanted to hcl p that
dear old country, which is mn home and my
"I confess" said Mr.. Smith,
II hadn't thought Of all this. There is
good deal of sense in what you say, and ]
will 90 50 far aa to put two or three thou
sand dollars in United State stocks. 1t can
do no harm
Welett Mr., Smith going towards the bank,
and Richard returning home, with that calm
and placid air which indicated the serenity
Of his disposition and the consciousness of
doing right towards his country and his fel-
low man.