St. Landry democrat., 1880-02-07
Haste in Money.Maliny.

The rapid advance III prices, by which
Il few people haze gained LARGE suns Of
money, has had an unwhoIesome effect
on many others, unwise and uncarned
IN business affairs, by whctting their
lust tor wealth or making them discon-
tented and bitter because they have not
obtained it.
The requirement Of wealth save bv in
hcrltancc or studiouS and wearing in
dustry Is one Of the rtrpst accidents of
life, so rare that men of only ordinary
wisdom will count it out rs mot amon%
the possibilities. Fortunes are never
made out OF nothing. and any individual
IN torccastlng the probability Of his own
! success must ask himself (5 whether he
has the requisite qualities in himself
such as sagaclly, persistencv and phvSi
cal strength-and (2) whether Il he re-
sources about him and the demand for
what he has to produce are sufficient. If
ne IS unable or unwilling to pay fo" IL
| fortune, he can not have it.
Yet the hope of getting rich without
effort and hy luck is the most common
OF errors. Hence the prosperity Of lot
teries, gambling concerns and Stock OK
changes. The managers of such joSti-
tutlons have the making of u
to!erahly sure income in the ex-
erci-c Of their wits and the PATRONAGE
Of fools. But it is pcrpct,lal
marvel that, against all reason and hui
man experience, men vii! stcp aside
from their Legitimate calings and haI-
ard their money in Il scheme of pure
chance where the PROBABILITIES are largely
against them, ortake a speculative risk
III a commodity or security with which
they are not familiar. They see "a small
number OF men made wealthy by stock
operations. and are seized with the craze
OF imitation. They do not reflect THAI
these successful ones, starting with au
extraordinary intellectual equipment for
their work, have devoted their lives To
the study of their subject, have worked
as few people work, and subjected
themselves to 4 nervous drain and har-
assmcnt that pertains to few other call
lnGs, and hat they have been constant
ly menaccl with the fate that has car
ricd the majority of their competitors
down to failure. The risks of Wall
Street bu~lnes, are SO great that there
are many men of years experience
there who never buy share of stock for
themselves Except, of course, that they
permanently invest their sayings). but
rely for their income solely on their
commissions as brokers for other ppv-
pie.
And here let it be said, shun brokers
who profess to have special opportuni-
ties for knowing the future course of
stocks or 4 peculiar insight into the ten
denotes Of the market, and on these
grounds solicit business. They mostly
lie. The best brokers are like the best
doctors-they do not profess to glaran-
tee a cure. And if they give advice,
they do it in the most cautious way, lest
they, while making a commission them
selves, should lead their principal to
loss. 1t is Il safe rule also never to let
funds pass out of ones own control.
Any body who intrusts money to
broker to speculate with as he sees fit
thereby makes a humiliating confession
of his own ignorance, which ought to
moderate his aspirations for wealth.
1t is not easy to decide on the best
way of disposing of surplus earnings,
but the question is greatly complicated
by too high notions as to the rate
Of income on investments. Savings
banks, Government, State and munich
pal bonds and good mortgages furnish
the best security with a fair return.
There is one mode of legitimate specu-
ation, in which a few people may en-
gage with tolerable safety, and that is
.he purchase of securities in full when
he market is depressed to be held for a
Use. The success of this method de-
bends, OF course, upon the knowledge
md sagaciy of the operator, and no.
body should adopt it who has not a
borough familiarity with the paper
which he handles AID the market in
Which he deals. There is of course risk
wen here, but he who really owns what
lie has bought can outride Il storm that
will wreck thousands that cling to their
holdings by the narrow margin of u
mall per cent, and if he has chosen his
nvestnent wisely, he can look with
almness on any temporary fall Of the
market below his purchasing figure.
he rule " make haste slowly" finds
owhere more proper and successful
pplication than in the accumulation OF
honey. -SprinqfeM Republican.