Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1881-03-09
v~AnpERBIIr's VIEWS.


His Theories On Fiaaneial uansgs-
msns. spseulasies, asd 0pisisss
or Tom Scott and lay Could.
A representative OF the New York
Herald the other day had an interview
with ". b. Vanderbilt, in The course Of
which that noted millionaire and emil
mont fnancisr gave some Of his views
on financial management, speculation,
wealth, and money matters generally.
We extract
Vanderbilt said !: ! believe when prop
srty Ia well invested II 10, % Q rule, safe
to let It alone. Il will stand all iuetua-
tons and panics In street, for the value
will always be there. rarely change
my investments, and only when ! be-
come satisfied that there 10 danger from
depreciation in value from causes beyond
the control OF the management. lneces-
sarily invest largely. after satisfying
myself that the property Is we'll worth
the cost, and my interest therein gives
me an opportunity OF knowing all about
the management and participating IN 1t.
Many persons. getting their information
from the newspapers, believe me to 30 .
great Spectator. In this they do nae .
great injustice. Almost daily ! read In
the papers Of q huge transaction with
which my name 10 connected, and / have
q good laugh over these stories. In most
cases the whole affair arises purely from
the Imagination Of the writer's. have
q great many persons in Wall street con.
stantly calling upon me, and every day
I hear a. many different theories OF what
Gould, Sage, Keene and others are do
ing as I have callers. Every man In
Wall street seems to have = theory OF
his own. The moro ridiculous the story
which has been manufactured. may be
the more II will affect the market for the
time being. Looksrs-on marvel at this,
but 1t only shows how speculation I'M
balances and aemoralizes the Judgment
OF men. There are many properties In
this country which would be good invest
ments IL they had owner who would look
after them, and Who would manage
them as they would their private bust
ness.
After o man has got q million, and has
secured for his family all they require,
he II as we'll Of a. II. he had q hundred
millions i'm fact, he Is better Of, for he
has all the comforts and enjoyments
that be can reasonably require without
the increasing care Of increasing millions.
A man who has Q controlling desire to
accumulate great wealth should be very
much on his guard against o feeling Of
undue missrlinsss which 10 apt to come
with this eagerness for increased wealth.
consider Thomas A. SCOTT the best
railroad manager and executive officer I
ever came In contact with. Jay Gould
Is able and shrewd. Jewett has had
much railroad experience, and I consider
him Q man Of superior judgment and
ability. ]. w. Garrett stands among
the foremost Of our men to accumulate
greater wealth in their heads, which the
public give them credit for. The
man who has nothing, or next to
nothing, to lose il all right enough,
but I have known men who have been
working all their lives to accumulate
forty or fifty thousand dollars. and then
lost II all in Wall street. After oil. all
men are gamblers. There are o couple
Of thousand Of the smartest fellows down
there in Wall street. Now they don't
live on each other. They live on the
outside public, and he who has anything
to lose 10 Q perfect fool to try his game
with those men. I never bay anything
for q turn; what / bay I buy a. an in
vestment. OF course. II q concerted Of.
tack were made on New York Central,
Lake Shore, or any OF the properties In
which I am greatly interested, and were
10 buy Q certain number Of shares to
support the market, aud afterward, upon
the reaction. let the market have this
stock again at Q fair profit. / should
consider IL a. Q protection to my prop
erty. we'll knowing that the value 10
there. .
have been on the other side several
times, but I never saw anything In Eu.
rope that would make me. for one mo-
ment, desire to change my place Of resi-.
dence. ! haven't seen any place In the
last ten years. London and Paris not
excepted, that I would exchange for New
York as q place OF residence. New York
suits me. I am American, thoroughly
American,
Vanderbilt thought that the popular
tendency was to exaRgerate immensely
the possessions Of rich men. People
now talk about millions n they once
used to talk about thousands. II q man
il worth a million. you will hear at once
that he il worth ten. and II he IL worth
Ave or ten millions. you will hear that
he is worth forty. You may put 1t down
a. q safe rule that u he makes o large
amount you'll hear Of 1t three or four
times a. often as when he incurs Q heavy
loss.
New York Ia bound to be always the
great metropolis Of America. The other
great cities will also grow. to be sure,
but their growth will only help New
York all the more. With every year, /
think, Now York IL bound to come
more aud more into the foreground.
The monsyed interests Of the country
will always centre here, and its ratio OF
increase in money and the moneyed po-
sition will continue as great In the next
fifty years as II has in the past, every
town, village aud hamlet throughout