Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1864-09-01
Poor Richards Reasons for buy
Ing United states Securities.

Poor Richards Reasons for buy
Ing United states Securities.
The other day we heard rich neighBor
say he had rather have railroad stock. than
the u. s. stocks, for they ii hiyher inter-
est. Just then had 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! Thought you
had no money to bu, with" "Yes," said
Richard II had little laid up, for you
know it is well to have something laid up
against wet day, and / bsve kepta little
Of my earnings by me-" Now Poor Rich
ard is known to all the country round to be
very prudent and Industrious, and withsl,
wise man; for Richard never learned any
thing he didn't know how to make use Of,
preverb 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
very quiet humble way-for he never as
sumed anything--replied, Il suppose, Mr..
Smith, You know great deal better than [
do what to do with money, and to invest
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 ynu some things l saw and what I
thought 1T. One very rich man was al.
ways 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 a very high rate. and he often told
how much he got, till one day the people
ho IN RI ,Sh ua hooly
about ten cents on dollar of his money. l
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 country-paid ten per tent. But what
did the old man do but sell his stock the
next day! Why? why? said everybody
Because, it pays too much diridend, Aud in
in six months the bank went to smash
Now, that | know to Be fact. Well, Mr..
Smith, you say railroad stocks are best, be-
cuse they pay high dvidsnds2 Can you
tell how long they will pay them? i like
railroads. helped to build one, and go
in for useful things. But | tell you what |
kno,o about them. One.third of the rail-
roads don't pay any dividend, and two
do not pay as much as Government stocks.
Now that brings me to the Govern,net se--
curities, and will tell you whv 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, that the
income should be uniform and pero,anent-.
not up one year and down the next; and
thirdly, that it should be marketable, so
when your yet day comes, and you want
your money. you can get it back. And I
think these notes or bonds have got these
qualities more than any other kind of per-
sonal property you can name. Try it.
First, then, have been looking into
that'grest book you call the Census Statis-'
tics. | used to think it wasn't worth much;
but since began to study it, tell you, t
found out good many thing very useful for
me to know found out, by looking at
the crops, and the factories and shipping,
&C., that We don't mean the Rebel States)
are making e 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 u.s.
think. Then the, debt will be paid, any,
how, no matter how long the war is Be-
sides, did you ever hear of Government
that broke before the people did? Look
into your big histories, Mr.. Smith, and YOU
will find the e,ple break before the Gov
ernments. Well, then. CALI that stock
4 pert city secure.
i Secondly, you want the income unij5rns
and permanent Well, want you to take
up a list OF banks, railroads, mines, insu-
rance companies-anything you choose
and tell ME (honor bright, now y how many
have paid a uniform income for ten or twen-
ty years. Not one in hundred, Mr.. Smith,
and you know it. .4H.at' u "a
'Now here is the Government will pay
you without varying title. Now like,
something that gives me my income every
year. tftfF
Thirdly, you want something which is
n,arketate any day in the year, Now, if
you will ask any bank President he will tell
you that Government stocks are the only
4 land of property hat IS al,oays sabedble. be-
cause they will sell any,oheye n the ,oorld.
Now, Mr.. Smith, this is iohy put my
little savings in Government stocks. Icon
fess, too, that wanted to help that dear
old country, which is ay home and my
country II confess" said Mr.. Smith,
Il hadn't thought Of all this There is .
good deal OF sense in what you say, and l.
will go so far as to put two on three thous-
and dollars in the United States stocks, Ii
can do no HARM"
We left Mr.. Smith going towards the
bank, and Poor Richard retursingi home,
with that calm and placid air which indica-
ted the serenity Of bis disposition and the
consciousness of doing right towards his
country and his fellow man.
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