Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1864-08-31
POOR Richards Reasons for
Buying United States secur-
tiles.


Dor say ne. had rather have railroad
stocks than the United States stosks, for
they paid higher interest. Just then
poor Richard came Up, and said that ne
had just bought some of Uncle SANS
three years notes, paying seven and
three tenths per cent. interest. Ny rich
friend exclaimed, "You! | thought you
had no money to buy with" Yes"
said Richard, Il have 4 little laid up,
for you know it is we'll to have some
thing laid up against II wet day. and
have kept = little OF my earnings by me-
Now. Poor Richard is known to all the
country round to De u very prudent and
industrious. and. withsl. wise man: Tor
Richaro never learned anvthIng he
didn't know how to make use oil. and
his wisdom and prudence had become q
proverb. So. when be took out bis sa-
wings and bought the notes. more than
one was surprised. and il was no wonder
rich Mr.. Smith asked why. So. Poor
Richard, iii very quiet humble way
for he never assumed anything-replied.
81 suppose. Mr.. Smith. YIu know a good
deal better than | do what to do with
money, and how to inyset; for [ never
had much, and all got [ had 30 work
hard for. Bat I have looked round a
good deal upon NV neighbors, and seen
what they did with their money and
will tell you some things I cav and
what l thought of it. One very rich
man was always dealing in money, and
he made a great deal, but was never sat
listed without high interest. So he lent
most of his money to some people who
he thought were very rich, ats very high
rate: and he often told how much he
got. till one day the people he lent to
went to smash. He got about ten cents
on q dollar of his money. l know anoth'
er 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 co~untry-psid ten per cent. But
what did the old man do but cell his
stock the next day! Why? Whv! SAID
everybody. Because. it pays too much
d,r;Iend. And in six months the bank
went TO smash. Now, that / know to be
a fact. Well. Mr.. Smith. you say rail
road stocks are best. because they pay
HIGH dividends Can you tell me how
long they will paw themf I Ike rail-
roads. ! helped to build one. and / 60
in for useful things. But I tell you
what / know about them. One-third
Of the railroads don't pay any dividend
and two-Lhirds land some fthem cracked
HID. tool don't pay as much as govern
ment stocks. Now that brings me to the
government securities, and l will tell you
why ! prefer them. 1 take it you will
admit. Mr.. Smith, that in the long ruD
the investment which is best should have
these qualities: First, it should be per
fectly secure: secondly, that the income
should be uniform and psrmdnent-not up
i one year and down the next; and third
ly that it should be marketable, so when
your wet day comes, and you want your
money, you can get it back. And /
think these notes or bonds have got
these qualities more than any other kind
of personal property you a name. Try
it.
First, then, | have been look ing into
that great hook you call the Census Sta
t~istics. | used TO think il wasn't worth
much; but since began TO study it., /
tell you. | found put e good manythings
very useful for me TO know. found out
by looking at the crops. and the factories
and shipping. &C.. That we'll don't mean
the Rebel States)ar making thousand
millions ofdollars a year more than we
spend. So you see that(since the increase
eff debt isn't half that)we are growing
Yiek instead of poor. Rs John Bull and
| the eroakers would have US thiuk. Then
the debt will be paid. anyhow. no mstter
how long the war is. Besides, did you
ever near of . government that BROKE
before the people did? Look into your
hig histories, Mr.. Smith, and you will
find the people break before the govera
ments. Well, then, l call that stock
Perfectly seevro.
"SecondIy, you want the income uaifor7'
ard permanent. Well, l want you TO take
up a list of banks, railroads, miner in
panies-urance comanything you choose
and tell me (horor bright, .now!lhow
many have paid a uniform income for ten
or twenty years. Not onein a hundred,
Mr.. Smith, and you know it.
Now here is the government will
pay you without varying a little. Now
l like something that gives me my in
come every year.
Thirdly. you want something which
is marketable any day in the year Now
if you will ask n bank President, he
will tell you that Government stocks are
d. only Kind yproperty Mat is always saidSk
because they will sell anywhere in the
world.
Now. Mr.. Smith, this is why / put
my little savings in government stocks,
l confess, too, that l wanted to help that
dear old country. which is my home and
my country. 81 confess" said Mr.. Smith,
81 hadn't thought of all this. There is
a good deal of sense in what you say, and
and | will go so far as to put two or three
thousand dollars in United States stocks.
1t can do no harm"
We left Mr.. Smith going towards the
bank, and poor Richard returning home,
with that calm and placid air which in
Dictated the serenity of his disposition and
the consciousness of doing right towards
his country and his fellow man.