The Union and journal. [volume] (Biddeford, Me.) 1858-1882, 1864-09-09
Poor Richards Reasons for Buying US.
r.l Securities. r


The other day we heard rich neighbor
say he had rather have railroad stocks than
the U. S. stocks, for they paid higher interest.
Just then Poor Richard camc up, and said
that he just bought some of Uncle Sans
three years. notes, paying seven and three
tenths per cent interest. My rich friend ex-
claimed, "You / thought you had no mon.
cy to buy with" "Yes." said Richard, "I
had little laid up, for you know 1t is well
to have something laid upagainst wot day
and have kepta little of my earnings by
NO." Now Poor Richard is known to all
tho country round to bc bcavcry prudent and
Industrious. and withal, wiso man for Rich.
ard never learned anything he didn't know
how to make use OF, and his wisdom and pru.
dence had become proverb. SO, when he
took out his savings and bought the notes,
moro than one was surprised, AID it was no
wonder rich Mr.. Smith asked why. So Poor
Richard, in q very quiet, humble way-for
he never assumed anything-rcplied, "l sup
pose, Mr.. Smith, you know n great deal bet
ter than do what to do with money, and
how to invest for never had much, and
all had, had to work hard for. But !
have looked round good deal upon my
ncighbors, 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 o
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 very high rate and hc often told
how much no got, till one day tho people he
lent to, went to smash. lie got back about
ten cents on dollar of his money. KNEW
anOther old gentleman, who had some bank
stock, and he went to the hank and got ten
per cent. dividend. The President and every
body 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 !!
Why3 why 7? said every body. Because it
pays too much diuidend. And in six months
the bank went to smash. Now that know to
be fact. Well, Mr.. Smith, you say
railroad stocks are best, because they pay
high dividends. Can you tell how long thcy
will pay them I like railroads. I helped to
build one, and I go in for useful things.
But tell you what I knoic about them.
One.third of the railroads don't pay any
dividend, and two.thirds (and some of them
cracked up, too,) do not pay rs much as gov
ernment stocks. Now that brings me to the
Government securities, and will tell yon
why Iprefcr them. take it you will admit,
Mr.. Smith, that in the long run the invest
mcnt which is bes. should have these quail
tiles First. it should be perfectly secure
secondly. that tho income should bo uniform
and pcrmanent-not up one year and down
the next and thirdly, that it should be mar
,etablc, so when your wet d.y comes. and you
want your money, you can getit back. And
think these notes or bonds have got these
qualities moro than any other kind Of person.
al property you can name. Try it.
First, then, have been looking into that
great book you call the Census Statistics. I
used to think it wasn't worth much; but
since began to study it, tell you, l found
out great many things very useful for mo
70 know. found out, by looking at the
crops, and the factories and shipping, &C.,
that we, II don't mean the rebel Sttcs) arc
making thousand million dollars q year
more than we spend. Soyou SEQ that (since
the increase Of debt isn't half thaD VIC are
growing rich instead Of poorer, as John Bull
and the croakers would have us think. Then
the debt will be paid, anyhow, no matter how
long tho 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 people break
before the governments. Well, then, ! call
that stock perfectly secure.
Secondly, you want the income uniform
and permanent. Well, l want you to take
up a list Of banks, railroads, mines, insurance
companics-anything you choosc-and tell
mo (honor bright, now.) how many have
paid q 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 mc my income every year.
Thirdly. you want something that is mar
kctablc any day in tho year. Now, Il you
will ask any bank President, he will tell you
that Government stocks are The only kind Of
property thoi is ai,says saieab'e. because they
will sell anywhere in tho world.
Now, Mr.. Smith, this is why | put my
little savings in Government stocks. I con.
fes. too. that I wanted to help tho dear old
country. which is nay homoaud my country.
"T confess" said Mr.. Smith, ''I hadn't
thought Of NIL this. There Is good deal Of
sense in what you say, and I will 90 50 faras
to put two or three thoualnd dollars In
United States stocks. II can do no harm.