The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1883-11-01

MIR. w. ii. ANDERBILT was re-
Gently interviewed by reporter of
the New York Times, and in the
course of the interview he said:
"A man whose judgment 1 can
rely on told me while l was in the
White Mountains that the middle of
November would see a great change
and that securities would be up. In
six weeks you will see all the railroads
driven to the utmost with business.
When you see the report of the New
Y ork Central you will see that it has
earned its dividends and more too.
Money is only IL and drug on the
market. Who ever saw money at
that price in October before? There
is plenty Of money, but the people
have not confidence to invest it.
Too many worthless securities
have been put on the market,
and the trouble is people
have not Disseminated between them
and the good ones. My brother used
to tell me that deople invested to Sc
cure the interest without looking at
the principal. I do not mean to say
that all the securities that have lately
been put on the market are worthless,
but far too many of them are not
worth the paper they are written on.
The good ones have been borne down
with them. When my father died
New York Central sold at 102. That
was because of the feeling Of uncer-
tainty among people as to the future
oil the road. It has since sold at $50.
The stock is as good now as it was
OF
then as now. Michigan Central
is selling Is per cent lower
than it was year ago, but the real
value is unchanged. Lake Shore is
worth as much as it was before the
decline. The fall of the substantial
properties from one and two years
ago has been too much and cannot
last. When 1 put money in an inter-
prise l do not do it to benefit myself
alone, but every one else as well who
is interest ested. l always look into
the investment to see that it is safe
and do not drag peoplein to lose their
money. 1t is strange how different
people are. A man who acquires
money quickly is apt to lose it in the
same way. A man who earns his
money by hard work knows the value
of it and takes care that he does not
lose it.
"How do you look upon the future
of the countryp"
"This is a growing country, and
cannot be kept down. The immense
immigration will be the salvation of
the country. The mingling of the
different nationalities will preserve
the peace and contribute to the pros
perity of it. The people of one race
will be a check on the people of
another and prevent any one class
from acquiring an undue influence.
You see no riotous demonstrations
here such as you see elsewhere. The
people here are free and equal-all on
the same level. Immigrants come to
America who in their own countries
were held down. Here they find that
their rights are as good as any one
else's. and they are stimulated to bet
ter thoughts and higher ambitions.
The effect is to enable and enlighten
them. There is one thing that [ do
not like to see, and that is
the redemption of the govern
ment bonds. Look at the bonds
to-day. They are quoted at 120. L
bought mine at 164. They ought not
to be called in the way they are. The
country should have a larger debt and
give every one who can an oppertu-
nifty to buy. That is what adds
strength to France. If a man can hold
bond, that makes a loyal and good
citizen of him, and too much cannot
be done to make all men love their
country. When l see spirit of COM
munism creeping out / cannot help
thinking of public opinion and how
much care should be taken in molding
1t. Public opinion is right nine times
out of ten. Wrong acts are only done
in haste. One man in the heat of
feeling might lead mob to unlawful
acts, but people who thought it over
soberly would see how ill-advised it
was. If public opinion has time to
mature it is infallible. The press
Yields a great power, and should
be used for good which it can accom-
pliSh."