Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1864-09-09
POOR RIsHARDs REASONS FOR BUYING UNITED
STATES SECURITIES


STATES SECURITIES
The other day we heard rich neighbOr say
he had rather have railroad stocks than the
o. S. stocks, for they paid higher interest
Just then Poor Richard came up, and said
that he had just bought some of Uncle Sans
three years notes, paying seven and three
tenths per cent. interest. My rich friend ex-
claimed, ''You !! l thought you had no money
to buy with" "Yes," said Richard, Il 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 Richard is known to all the cOun-
try round to be very prudent and industri-
Gus, and withal, wise man; for Richard new
er learned anything he did not know how TO
make use OF, and his wisdom and prudence has
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 We
ry quiet humble way-for be never assumed
anything al 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 a good
deal upon my neighbors, and seen what they
did with their money and will tell you some
things l saw and what l thought oft. One
very rich man was always dealing in money,
and he made 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 very high rates; and he Of
ten told how much he got, till one day the
people he lent to went to smash. He got
back about ten cents on dollar of his money.
know another old gentleman, who had some
bank stock and he went 90 the bank and got
ten per cent. dividend The President and ev-
erybody said it was the best stock in the coun-
try-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 dividend. And in six months the bank
went to smash. Now, that I know to be
fact. Well, MIR. Smith. you say railroad
stocks are best, because they pay high divi-
dends? Can you tell how long they will pay
them? l like railroads. l helped to build
one, and go in for useful things. But tell
you what l knOU about them. One-third of
the railroads don't pay any dividend, and two
thirds land some of them cracked up, tool do
Now that brings me to the Government Sc
curities, and L 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 perfectly SecGre: secondly, that the income
should be uniform and PeTmGnenE--not up
one year and down the next; and thirdly, that
it should be marketable, so when wet day
comes, and you want your money, you can
get it back. And / think these notes or
bonds have got these qualities more than any
other kind of personal property you can name,
Try it.
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, 1 found out q
good many things very useful for me to
know. l found out, by looking at the crops,
and the factories and shipping, &C., that we
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
increrse of debts isn't half that we are grow
ing rich instead of poor, 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 Gov
ernnent that broke before the people did p
Look into your big histories, Mr. Smith, and
you will find the people break before tie Gov
ernments. Well, then, call that stock per-
tectly secure.
Secondly, you want the income uniform
and permanent. Well, 1 want you to take up
list of banks, railroads, mines insurance COM
panies-anything you choose-and tell me
(hOnor bright, now , how many have paid
uniform income for ten or twenty years. Not
one in hundred, Mr. Smith, and you know it.
"Now here is the Government will pay you
without varying title. Now like some
thing that gives me my income every year.
Thirdly, you want something which is mar
ketablc any day in the year. Now, If you will
ask any bank President, he will tell you that
Government stocks are the only kind of prop
erty that is GlacayS sGlea6le, because they will
sell anylOhere in the sOorld.
"NoW, Mr.. Smith, this is qOhy put my
little savings in Government stocks 1 con-
fess, too, that wanted to help that dear old
country, which is my home and my country
81 confess" said Mr.. Smith, 81 hadn't thought
of all this. There is good deal of sense in
what you say, and will go so far as to put
two or three thousand dollars in United States
stocks. 1t can do no harm"
We left Mr.. Smith going towards the bank,
and Poor Richard returning home, with that
calm and placid air which indicated the seren-
ity of his disposition and the consciousness of
doing right towards his country and his fel-
low man.