New Ulm weekly review., 1881-05-04
WHOLE NUMBER l73.
Pecuniary Independence.

Pecunfary Independence.
There are two millions of persons in
France who live quietly and moderately
upon their incomes from investments in
real estate or other property. In En-
gland there are probably half as many,
who live in a simple and unostentatious
manner under the same circumstances.
The English Government funds known
as "consols'' in the technical terms of
the money market, pay three per cent.
per annum; the French 1'rentes'' paw
about the same rate of interest. The
average income from these sources to
each owner of these funds is not more
than three hundred dollars per annum,
and on this amount thousands of per-
sons live simple and contcnted lives,
enjoying in a modest, unassuming man
ner the fruits of their carefulness and
economy.
A French "rentier,'' or an English
owner of ''the funds" or person who
may be possessed of real estate, occu-
pied or rented, enjoys certain social
distinction on account of his "inde-
pendence,' to which term there attaches
distinct idea of certainty of income
with the assurance of a competency
and freedom from the cares and incon-
veniences of poverty or embarrassment.
So long as these persons live within
their incomes, they are privileged per-
sons in an easy and well-defned posi-
tion; persons of moderate fortune who
can afford to look upon their front door
as secure from the possible presence of
the typical IS won," which is the dread
of all those who live by uncertain en-
ployments. But without the strictest
Plainness and economy of living, all
these people would become .of all
men the most miserable Their prop
erty saved by years of industry and
economy, would soon disappear and
leave them, in their old age, in poverty
knowing their security and realizing
their comfort, are tempted to risk their
income in the hope of increasing the
rate Of interest by riskful investments
or speculations.
How fortunate it must be for Ameri-
cans if they would but take lesson
from such examples as these! What
misfortunes, what losses, what disap-
pointments and even miseries would be
avoided by more contended dispo-
sition, more devotion to simplicity of
life and economy Of living? What
secure friendships, what continued
social pleasures, what permanent family
affections and happiness in our home
lives could be enjoyed, if people were
only more contented with their present
fortunes and the modest enjoyment of
what they now have in secure possess
| sion? The foul demon of speculation
keeps us all in turmoil; society seethes
| and bubbles over with the excitement
due to the constant race for riches; to
the struggling pursuit of more wealth.
! This is common to all classes Farmers
and country dwellers are tempted to
send their small savings to be swallowed
up in the whirlpool of speculations in
the cities, in the vain hope of acquir-
ing riches that have never existed. and
! which they can no more secure than
they could grasp a shadow. The busi-
ness man and the man who possesses
already snug competence, haste to
throw their property away in the same
foolish manner to be swallowed up in
the bottomless nav of speculation.
And so the wrecked hopes and fortunes
may be counted by the thousands and
crime, ignominy and wretchedncss are
present everywhere. In less degree
the evils of everything, too, prevail, and
men and families mourn for want of
that which they have unwisely squan-
dered and wasted in a way that brings
no solid comfort to them.
There is no happiness in living be-
yond ones means. Those who have no
debts to pay as they 60 and make this
their rule. are more careful and eco
nomical than those who buy on credit
whatever they may desire or think they
need. Buying on credit is our National
bane, an evil which saps the founda-
tions of our social comfort. 1t keeps
man in debt, increases his expenses;
makes his necessities greater, and
tempts him to risk his property in vain
efforts to extricate himself from Pc
cuniary difficulties. It is quite easy to
spend what we have not; but man al
ways thinks twice before he breaks
upon small accumulation which he
already has, and will rather add to it
than trench upon it. Therefore the
habit of saving, once created, is safe
guard against careless spending and
should be encouraged in every legitimate
and proper way. There is an economy
that is mean and stingy; but it is very
easy to avoid this fault without falling
into the opposite vice of extravaganza,
and to hit the happy mean of a sensible
and wholesome economy.-Rural Nes0
Yorker.