The Highland weekly news. [volume] (Hillsborough [Hillsboro], Highland County, Ohio) 1853-1886, 1864-08-25
Poor Richards Reasons for Buying
United States Securities.

| paid higher interests. just then Foor
Richard came up and said;he had just
bought some of Uncle Sans three years
notes, paying seven:and three.tcnth per
cent. interest. My rich friend exclaim-
ed, "YouI | thought you had no mon
ey to buy with" eyes," said Richard,
IL had little laid up, for you know it
is well to have something laid up against
a wet day, and have kept little earn
ings by me-" Now Poor Richard is
known to all the country round to be
very prudent and industrious, and with
al, wise man; for Richard never learned
anything he didn't know how to make
use Of and his wisdom and prudence
had become proverb. So, when he
took out his savings and bought the
the notes, more than one was surprised,
and it was no wonder rich Mr.. Smith
asked why. So Poor Richard, in a quiet
humble way-for he Dever assumed any
thing replied, ~ suppose, Mr.. Smith,
you know a great deal better than I 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 a good deal upon my
neighbors, and seen what they did with
their money, and I will tell you some
things | saw and what 1 thought oft.
One very rich man was always dealing
in money, and lie made a great deal
but was never satisfied without hiqh in
terest. 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 he lent to, vent to smash h j..
He got ba OK about ten cents on a dollar
of bis money. 1 know another old gem
tleman, who had some bank stock, and
he went to the bank and got ten per
cent. dividend. The President and ev-
rybody said it was the best stock in the
countrywide ten per cent. But what
did the old man do but sell his stock the
next day. Why? why? said every.
body. Because it pays too much diri-
dend. And in six months the bank
went to smash. Now, that I know to be
a fact. W ell, Mr.. Smith, you say rail.
road stocks are best, because they pay
high dividends2 Can you tell how long
they will pay them? 1 like railroads.
l helped to build one, and I 90 in for
useful things. l tell you I hnoO about
them. One-third of the railroads don t
pay any dividend, and two.thirds (and
some Of them cracked up, tOo,) don't
pay as much as Government stocks.-
Now that brings me to the Government
securities, and [ will tell you why 1 pre-.
fer them. I take it you will admit, Mr..
Smith, that in the long run the invest
ment which is best should have these
qualities; First, it should be perfeetb
Secure; Secondly, that the income should
be uniform and permanent up one
year and down tho next; and thirdly
that it should be marketable, so wher
your wet day comes, and you want you
money, you can get it back. And
think these notes or bonds have go
these qualities more than any othe
. kind ofpersonal property you can name
, Try it.
"First, then, have been looking int
that great book you call the Census Sta
y tstics. used to think it wasn't wort
much; but since l began 10 study it,
tell you, found out a good man
things very useful for me to know.
found out, by looking at the crops, an
the factories and shipping, &c, that "
q don't mean the rebel Sla,es) al
making a thousand millions of dolla,
year more than we spend. SO yc
~ sec that (since the increase of debt ism
half thaD we are growing rich instes
&C. of poorer, as John Bull and the croa
Gu ers would have us think, Then Il
rd. debt will bo paid anyhow, no matt
'w how long the war is. Besides, did VI
'ns ever hear of Government that bro
/. before the people did2 Look into 20
big histories, Mr.. Smith, and you W
find the people break before the Go
ernments. Well then, call that sto
perfectly secure.
l.. Secondly, you want the income %
=, form and permanent. Well, I want Y
hat to take up list Of banks, railroa
OOd mines, insurance companies-aDythi
you choose-and tell me honor, brigh
Row many have paid a uniform inco
rty. " for twenty years. Not one in hi
T, rty. dred, Mr.. Smith, and you know it.
"NOw here is the Government ,
" pay you without varying a title. N