Delaware gazette. (Wilmington, Del.) 1837-1883, 1864-09-02
Poor Richards Reasons for Buy
ing United Statea aecuritieR.

be had rather have railroad stocks than the
U $. stocks, for they paid higher Interest,"
Jest then Poor Richard came up, and said that
he just ought some Of Uncle Sans three years
notes, paying seven and three. tenths per cent.
interest. My rich friend exclaimed, "You |
l thought you had no money to buy with"
! "Nes,' said Richard, II had little laid up,
for you know it is we'll to have something laid
up against a wet day, aud have kept a little
fmy earnings by me-" Now Poor Richard is
known to all the country round 10 be very
prudent and industrious, aud withal, wise man;
for Richard never learned anything he didn't
know how 10 make use Of, and his wisdom and
prudence had become proverb. So when he
took out his saving and brought the notes,
more than one was surprised. and IL 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 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 I have looked round a
good deal upon my neighbors, 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 always dealing IN
money, and he made great deal, but was nov.
Vt Satisfied without high interest. 80 he lent
most of his money 10 aome 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 lont to went to smash. He got
back about ten cents on the 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
everybody said It was the best stock in the
country aid ten per cent But what did the
old man do but sell his stock the next day L..
WhyH why said everybody. Because it pays
TOO much dipidsaa. And in elk months the
hank went to smash. Now, that know to be
a fact Wen, Mr.. Smith, you say railroad
stocks as best, because they pay high diyidendsH
Can you tell how long they will pay them
like railroads helped to build one, and 60
In for useful things. But tell you what
knOit about them. One-third of the railroads
don't pay any dividend and two thirds (aEd
some Of them cracked up tOO.) do not pay as
much as Government stocks. Now that brings
me to the Government securities, and will tell
you why prefer them ! take 1t you will ad-
init, Mr.. Smith, that 10 the long run the in
veslment which lie best should have these qaull-
ties First, ii should be psltsefiy secure; second
ly, that the income shonld be uniform and per-
maasnt-not up one year and down the next;
and thirdly. that it ah ,uld be marketable, SO
when your wet day comes, and you want your
money. you can get it back. Aud / think
these notes CT 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 Statistica.
used to think II wasn't worth much; bn' since
l began to study il, tell you, found out
great many things useful for me to knoW.
found out, by looking at the crops, and the
factories and shipping, &c, that q don't mean
the Rebel States) are making thousand mil
lions Of dollars year more than we spend. -
So you see that lsinee the increase Of debt
isn't half that we are growing rich instead of
poorer, rs John Bull and the croakers would
have us think. Then the debt will he paid
anyhow, no matter how long the war Is. Be-
sides, did you ever hear Of r government that
broke before the people did, Look into your
big his.orlesi MIR. Smith, andi you wnnIhnd the
people break before the governments. Well,
then, call that stock perfectly secure.
Secondly, you want the income uniform and
permanent. Well, I want you to take up list
Of banks, railroads, mines, insurance compa-
nies-anylhiug you choose-aud tell me (hOnor
! bright, now y how many have paid uniform,
income for ten or twenty years. Not one in a
hundred, Mr.. Smith, and you know II.
''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
marketable 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 pro
Psrty that is Giioays sdlsbis, because they will
sell dny,vhere in the World
SNOW. Mr.. Smith, this is Dhy put my little
saving in Government stocks. ] confess, too,
that wanted to help that dear old country,
which is my home aud any country" 81 con-
fess," said Mr.. Smith, 81 hadn't thought of all
this. There is good dsal OF sense in what
you say, and will go so far as to put two or
three thousand dollars 10 United States stocks.
1t can do ne HARM
We left Mr.. Smith going towards the bank,
and Poor Richard returning home. with that
calm and placid air which Indicated the sere-
nifty Of bis disposition aud the consciousness,
of doing right towards bis country and his fell
low man. mre