The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1880-02-07

The rapid advance IN prices bv -
few people have gained laroe,. ~nc
money, has had an unwholesomss my
on many others, unwise and unlssas.
in business affairs, by whett;nr =
lust for wealth or making them a..
tented and bitter because thew hsrs
obtained it. 10
The requirement Of wealth save hv !;
heritance or studious and weay;ns! y
dustry is one of the rarest acc;des,. =
life, so rare that men of only or5;s.N
wisdom will count it out as not smos!
the possibilities. Fortunes are me-
made out of nothing, and any ind;r;5,S.
in forecasting the probability of HE -.
success must ask himself az whefhss
has the requisite qualities IN himseM
such as sagacity, persistency and mir.
cal strengthened (2) whether IL
sources about him and the demsud 4.
what he has to produce are sufficient I
he is unable or unwilling to paw a, |.
fortune, he can not have II.
Yet the hope of; getting rich with~,
effort and by luck isthc most COM,
of errors. Hence the prosperity II II
teries, gambling concerns and stock !,
changes. The managers of such ipa;
tutions have the making Of 4
tolerably sure income in the a
ercise Of their wits and the patrou,,,|
of fools. But it is perpelrsl|
marvel that, against all reason and 4.
man experience, men will step al.
from their legitimate, callings and h,,.
ard their money in a scheme Of pur|
chance where the PROBABILITIES are lart,Ir|
against. them, or take a. speculative ~
in "a commodity or security With MIA
they are not familiar. They see srn,R
number of men made wealthy By storl
operations, and arc seized with the cns
of imitation. They do not. reflect thn
these successful ones, starting with a
extraordinary intellectual equipment n
their work, have devoted their lives 4
the study of their subject, have works
as few people work, and snbjecia
themselves to nervous drain and hss
assment that pertains to few other cal
ings, and that they have been conslxut
" menaced with the fate that has c,r
ried the majority Of their competitor
down to failure. The risks Of Wal
Street business are so great that then
are many men of years. expeaiens|
there who never buy share Of stock n
themselves Except, of course, that thq|
permanently invest their savings), ba
rely for their income solely on tn
commissions as brokers for other pee'
pie.
And here let it be said, shun broken
who profess to have special opportui
ties for knowing the future course d
stocks or peculiar insight into the e..
denotes of the market, and on the<
grounds solicit business. They m0Sly
lie. The best brokers are like the ~
dootors-they do not profess to gsIsrua'
tee a cure. And if they give advice,
they do it in the most cautious way, n
they, while making a commission then
selves, should lead their principal ~
loss. 1t is safe rule also never to n
funds pass out of ones own coptrcE
ANY body who intrusts money b I
broker to speculate with as he sees q
thereby makes humiliating confcssIcl
of his own ignorance, which ought 4
moderate his aspirations for wealth. -
1t is not easy to decide on the be-
way of disposing Of surplus earning
but the question Is greatly complicatsl
by too high notions as to the ri
of income on Investments. Saving
banks, Government, State and munid
pal bonds and good mortgages iurnia
the best security with fair return
There is one mode of legitimate specu
lation, in which few people may en-
gage with tolerable safety, and that
the purchase of securities in full vhe'
the market is depressed to be held for
rise. The success of this method Do
ponds, of course, upon the knoyledB
and sagacity of the operator, and no
body should adopt it who has not 1
thorough familiarity with the Pspe
which he handles ard the market 7
which he deals. There is of course RI
even here, but he who really owns whs
he has bought can outride storm q.
will wreck thousands that cling to thea
holdings by the narrow margin o. !
small per cent, and if he has chosen !.
investment wisely, he can look We
calmness on any temporary fall OF -
market below his purchasing figure
The rule {" make haste slowly" find.
nowhere a more proper and success.
application than in the accumulation g
money -gnr;,loffeH ReDubffcuu.