Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1864-09-16

Poor Rishard's reasons for buying
united States Securities.
The other day NC heard rich neighbor say no
had rather have railroad stocks than the U. s.
stocks, for they paid higher interest. Just tteu
| Poor Richard came up, and said that he Just
| bought some Of Uncle Sans three years notes.
| paying and three tenths per cent, intor-
est. My rich friend exclaimed "You I I thought
you had no money to buy with" "Y.s,r said
Richard, II had little laid up for you know it
is we'll to have som, thing laid up against q wet
day, and have kept little of my earning. By
me- Now Poor Richard is known to ali the
country round to be very prudent and industr-
ous and withal, wise man; for Richard never
learned nything be didn't know how to make
use Of, and his wisdom and prudence had become
a proverb. So, when be 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 worry quite humble way
for he mover assumed nything replied, II sup.
pose, Mr. Smith, you know great deal better
than do what t9 do with money, and how to in.
vest, for never had much, and all got I had
TO work hard or But | have looked round .
good deal upon money and will till You some
things saw and what thought of it. One ye,v
rich man was always dealing in money, and he
made great deal, but was never estisfsd with.
out high interest. so he lent most of his money
to some people who he thought were very rich, At
a very high rate; and no often told how much hs
got, till one day the PEOPLE he lent to went 20
! lilo ont haek h. NJ fop, 4
of his money. l know another gentleman who
had some bank stock and he wen, TO the bank and
got ten per cert. dividend. The President md
every body sand it the best stock in the coun.
| try-paid ten per cent. But what did the old
man do but sfH his stock the next day! WhyH
why said everybody. Because, pays too much
hrudsnd. And in six months the bank went to
smash. Now, that know to DO fact. Well,
Mr.. Smith, You say railroad stocks are best be.
cause they pay high dividends +? Canyon tell htw
long they will pay them! / like railroads
helped to build one, and 60 in for useful
things. But tell you what kpow about them
one.tLird of the railroads don't pay any dividend,
and two thrds (and some OF them cracked up,
too,) do not pay much Ms Government stocks.
Now that brings me to the Government sccurit.
les, aud l will tel ycu Why | prefer them. 1
take it you will admit, MIR. Smith, that in . long
run the Investment which is best should have
these qnsiites: fifst, it should be perfectly s-
eH-c; secondly, that the income should be sni-
form sni pumanssf-not up one year and down
the ; and thirdly, that it shonld DO MARKET.
cbls, when your wet day eomes and you waut
your money. you can get it back. And think
-. - H.
than any other kind Of personal property
you name Try it.
"Iirst, ther, l ave been Tookirg into nss
great book yeu call the Census Statistics. Used
to ,l,ink it wasn', worth mneh but Stree l began
10 study 1t, tall you, found out good many
thing. very useful for ME to know. found out,
by looking at the CROPS, and the factories and
,hil ping, dc, that Il don't mean the Rebel
Statt,) are making thousand millions Of
dollars year more than spend. so you see
that .iuce the increase Of d,b, i.n't half thats
are growing rich il stead OF peorer. John
Bull and iLo crUak,rs ~oull Ia yo US ,hiak-
Then tie dett will tie Iad any how, matter
how long the is. B.,les, did you ever hear
of a Government that broke before the people
dill Look into your big histories, Mr.. Smith.
and y,u viii find the people break before the
Governments. NtlI, then, call that stock
pa7e.hv ,azlte.
Secondly, you want the income Uniform and
pe-nen NJ Vel. wait you Il take up n Int
o. banks, railroads. mnts, insurance ccmI anies
Anything yeu c@Cosc-1nd tell me thouor bright.
INV } how many have paid uaita,n income
for ten OF twenty years. Not one in hundred,
Mr. Smith. ard you know it.
"Now here is the Government. will pay you
without varying lj,ilo. New I like something
that gives my income every year.
Thirdly, you want something which is marta-
aJle any day IN the yesr. New. il ycS ask any
bank President, he will tell you that Gceernm,af
stocks The only kina Of Trqnty that aiways
sata,h, t,c1ust ny e Il s,l ensrhps IN the
100. h.
Now, Mr.. Smith, this i. w6y I put my little
savings in Government stocks. 1 confess, too,
that I wanted to help that dear old country.
which is my home and my country 81 con.
fess,' said Mr. Smith, ~ hadn't thought of alt
this. There is god deal Of sense in what
you say, and l will go SO far as to pu, two or
three thous I'D dollars in United State. stocks
1t can do no HARM"
We lsft Mr.. smith going towards the bank,
and Poor Richard returned home, with that calm
and placid air which indicated the serenity oS
his dis position and the consciousness Of doing
right towards Lis country md his fellow man.