Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1875-01-01
1 we believe ought to pass.

Mr. Watterson of the Loulsv,.c,n IL
journal, now in Washing. ,ae
believe that the Republ;,, 81 P.u'
nlreodv A. y ani pulation OF 9TH
hoard sias men who invest for d-
vRdirect business results and, 81.
80 for income, that shall be receiv-
n " and regularly TO supply the
oI 4 life.
ALI se railroad scheme Is started.
MI ors look 10 see how they can make
y out of 1t. Schemes more numer-
we have space TO describe are en-
,rupon 10 speculate in lands, 10 con
Of, in bonds, in anything. Business
boo forward their own interests, help
on T. II will open up their land to SET
d,u.and improvement, raise the value
tho s.ssanerly along the line, help their
~ As, facilitate their business Inter-
n1o. bud benefit them in so many WAYS,
80 HI subscribe TO the stock, or take
tho, rs; yet they will often do II with
a. FmOIest expectation that the road
NO.. tas an investment, or that they can
H any direct way, gel their money
m, 10 ibese men of speculation and
lac, Sbss we have nothing 10 say. They
IT, sir own risks and will take care of
nm,' q; but the third class Of invest
b,o, 4glrs called upon TO aid the prof.
loo, lRey are, Of course, uniformly bit
bro H|N fn experiment in railroads, or
Iico NtI ies, or any sort OF business en-
tb,. BE invest or for income has moth
a. BhOlld have nothing to do. No
ooJ MR Of large dividends should seduce
In, Aiust in the proposed mansge-
a. n show of confidence on the part Of
u,M business men, should be permit ted
III lim off his guard. He should let
ried enterprise alone, and touch
under any circumstances, that
, demonstrated its ability 10 earn The
II | Abromised in his bond, or expected
i dl,idend. All new railroad bonds
81 md BIZ stunned as temptation of the
devil. II the business world cannot build
its railroads without calling for help from
those who have no money 10 lose, let them
remain unbuilt until it can. Nothing will
sar by the delay.
The grand desiderata with all investors
for income are genuine security in The pay
ment Of interest, and punctuality. For
these, in the natural order of things, we
have always TO pay, in one way or another,
a premium. In other words, to get these
we must accept a moderate rate Of interest.
y ,igh percentages of interest walk hand in
"a End with risk and with risk the investor
.l.;n ehnr,lI I,ot t,1of liffla IN do
mt possible. No new banking institution,
nc new mandatory, no new railroad, no
steamship line, no new business en-
Trprise of any kind, or, to put the whole
4. alter in its briefest form and truest light,
experiment should ever receive n dol
e from him. There Is always good bank
-,ock for sale at IFS value. There are Gov
tnmeut and State bonds always TO be had
for their value. The investor for income
must be content with moderate interest,
for the sake of security and for the sake Of
and in the stock of well-es-
,ablished banking institutions, in the
bonds of old and prosperous railroads, and
in State and National securities, he can al
ways lind what he wants. Better than any
of these investments is The mortgage on
zeal estate for money loaned. Land, when
too near the Mississippi river, does not
away. Tens of thousands of business
~en invest in mortgages and bonds 10 in
sure themselves against losing their all in
the handling, while investors for income
are beset on every hand by them TO engage
in new schemes in which they do not dare
10 put their own money.
The great foes which investors for IN
come are 10 fight constantly are their own
greed, their own ignorance, and their own
crcduity. If they will believe nothing
touching an investment that has not been
proved, if they will make it a rule never
to touch an experiment, If they Will re-
member that perfect security of their prin-
cipal is better than higher rate of inter
est upon it, and stop reading the advertise
ments of new schemes in the newspapers,
they will, when the door Of the next PAN
ic shuts, have their coat-tails safely under
their arms, and may turn around and ex-
anime the situation at their leisure.-Dr.
J. G.. Holland, in Scri6ner'S for d 'cember.