The Jeffersonian Democrat. [volume] (Chardon, Ohio) 1854-1865, 1864-09-09
Poor Richards Reasons for buying
United States Securities.


The other day VIC heard q rich peighbor
say he would rather havo, railroad stocks
than tho U. S. stocks, for they paid higher
interest. just then Poor Richard came up,
and said that he just bought some Of Uncle
Sans three year notes, paying seven and
three. .tcntbs per cent. interest. My rich
friend exclaimed, "You! | thought you bad
no money to buy with" Yes" said Richard
Ihavo little laid up, for yon know i, Is
wolI to have something laid up sgaiost .
we, day, and have kept little of my earn
ings by me-" Now Poor Ridhard is known
to all the country round to be very pru.
dent and industrious, and witbal, wise man;
for Richard never learned anything he
didn't know how to make use of, and his
wisdom and prudence bad become a prov
erb. So, when he took out his savings and
bought the Dotos, more than one was sur.
prised, and it was no wonder rich Mr..
Smith asked Why So Poor Richard, iu 0
very quiet humble way--for be never. as.
sumcd auytbing-replied, Il suppose Mr..
Smith, you know a great deal better than |
do what to do with money, and how to in.
vest; for never had much, and all ] got
had to work hard for. But I have look ed
round good deal upon my neigbbors, and
seen what they did with their money and l
will tell you some things / saw and what l
thought of 1t. One very rich man was al
ways dealing 10 money, and he made a
great deal, but was never satisfied witbou,
gh intereet So he lent most of bis mon.
ey to some people who he thought was very
rich, al very high rate; and bo often told
how much ne got, ill one day the people
he lent to went to smash. He got back
about ten cents on a dollar of his money. -
| know another old gentleman who had
some bank stock and he went to tho bauk
and got ten per cent. dividend The Pres
idont and everybody said it was the best
( stock in the country-paid ten per cent
But what did the. old man do but sell biz
stock tho next day! Why? why; said every.
body. Because,i II pdys Too much d,uidend
and in six months the bank went to smash
Now, hat Know to be a fact. Well, Mr..
Smith, you Say railroad stocks are best, be-
cause they pay high dividepds' Can YOU
tell me how long they will pay them:
| like railroads. l helped to build one, and
go in for useful things But toll you
what know about them. One.thrd of the
railroads don't pay any dividend, and two
thirds (hud somc Of them cracked up, too,
do not pay as much as, ,Governmett stocks
Now that brings me to tho Government SO.
curities, and will toll you why prefer
them. take it you viii admit, Wr. Smith
that in tho long run the Investment which
is best should have these qualities; First, il
should be perfectly sccurr; secondly, tina.
the income should be uajorm aud perma.
nrnt-not up one year and down the next
and thirdly, that it should be marketabie
so when your wet day comes, and you want
your money, you can got it back. And
think these notes or bonds have got these
qualities moro than any other kind OF per
sonai property you can name. TRY II.
First, then, have been looking into the
great boz ok YOU call the Census Statistics
| used to think it wasn't worth much; bu,
since Ibegan to study II, 1 tell you, found
out by looking at the crops, aud the fact o
ries and shipping, &c, that we Il dom
mean the Rebet Strategy are making tn ou
sand million of doiors year more than va
spend. So you sec that (slnce the increase
OF debt 'sn': half thaD ~e are growing rich
instead of poorer, rs john Bull and tho
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 a Government that broke before the poo
pie 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. ..Iss ai.
"Socondly, you want the income rai for m
and permanent Well, l wan. you to take
up a list Of banks, railroads, mines iusur
ance Notwithstanding you choose-ant
tell me (honor bright. now!) how many
havo puid a uniform income for ten OF, TWEEN.
ty years. Not one in a hundred, Mr. Smith
aud you know it. r.. -st.ra .,1
| NOW hero is tho Government will nav
you without varying a title. Now L like
something that gives mo my income every
! year.
"Thirdly. you want something which il
marketabl any day in tho year. Now, il
you will ask anv bank President. he will
tell YOU that Government stocks are he
only kind ofprope,iy that is dhOays sal a..
ble' because they viii! sell anywhere ia Me
pOrM .., ',..-..... ..s
Now, Mr.. Smith. this is why put my
| little savings in, Government stocks.
confess, too, that wantod to help tha,
dear old country. which is my homo M,
my country." 81 confess" said Mr.. Smitl
| hadn't thought of this. There 10 q goot
d deal of sense in what YOU say. and will g,
30 far as to put two or three thousand dol
lars in United States stocks. 1t can do n,
BARN"
We loft Mr.. Smith going towards tn
! bank, ard Poor Richard returning home
with that calm and placid air which indicat
cd tho seronity OF his disposition and tn
conscio usness of doing right towards hi
country aud his follow man. ,,rs, .u#