Wichita eagle., 1888-09-21
GEN. BUFFERS ADVICE.
A FEW FINANCIAL RULES FOR A
YOUNG MAN TO FOLLOW.

YOUNG MAN TO FOLLOW.
Nothing Safe for Investment as
Improved Real Estate-A Bit of the
Generals Experience-Marry Pru-
dent, Saving Girl.
/ think that more young men fail in the in
vestment OF what they earn or receive than
In any other way to acquire property. The
temptations to speculation are great, and
the desire to become suddenly rich SO strong,
that believe eight out of ten, if not mere Of
young men are wrecked at the very begin
ming.
When young man has very little money
let him buy some property. preferably a
piece. however small, according to his means,
of improved real estate that is paying rent.
He had better buy it when sold at auction,
under judicial sale. paying in cash what he
can, giving his notes for the balance in small
sums coming due at frequently recurring in
tervals, secured by mortgage on the prop
erty, and then use all his extra income in
paying up those notes. 1t is always safe TO
discount your own note, and il the notes
come little too fast, as soon as he gets any
ae is putting his money where it can
not be lost, and where the property is taking
care of the interest, and in a very short time
he will find that he has got very consider
able investment. He will bevome interested
in it. save his money TO meet his notes, and
be will directly come into considerable pos
session of property, and hardly know how it
came to him That is, he viii have had "a
e.. i -. -
that saving, and will not be tempted to enter
into specsllations.
A SAFE INVESTMENT.
Nothing is so safe for all investment as i'm
proved real estate. Nothing is likely to grow
in value faster. In the last fifty years 90 per
cent. OF all the merchants and traders in
Boston have failed. In the last fifty years 80
per cent. of all the business corporations have
failed or gone out of business, SO that their
stock has been wiped out. In the last fifty
years all the improved real estate, on the
average, has paid its interest and taxes and
quadrupled in value. If young mans father
can give him anything to start him in the
world, he had better invest il III that way
and let it accumulate, and earn his living,
and he will be richer than if he had gone into
business. jay Gould is said 10 have started
from a mouse trap seller to become million
aire. Assuming that to be true he is only
one of 60, 00C, 900 of people, and if any young
man thinks that he is going to initiate Jay
Gould there are 60, 000,O 900 Of chances to one
that he won't succeed.
The rule would lay down for a young man
is never to do mean thing for money. BE
prudent and saving of your money. Be care
full to have no interest account running
against you unless you have an equal or
greater interest account running in your
favor Work diligently and you are sure Of
q competency in your old age and as early as
possible, If you can find a saving. prudent
girl vino has been brought up by mother
who knows how to take care Of a house, make
a wife of her. and she viii aid and not hinder
you.
4 BIT OF EXPERIENCE.
claim no originality in tais advice, and
will relate you an incident IN my own ex-
perience to illustrate it: In my earliest prac-
tice in my profession / was quite successful in
earning money, and had small balance in
the Lowell bank at the head OF which was
Mr. James &. Carney. The bank was directly
across the hail from my office. | stepped into
the bank to deposit little money Of one oc-
casion, and Mr. Carney said To me: why
don't you invest your moneyF Invest"
said /; 81 have nothing 70 invest. "Oh, yes,S
be says, you have quite a little sum OF
money, and I see that your young friends
come with your checks occasionally, evident
" borrowing 1t. Now. you had better invsa.
itn "How can ] invest itF Invest it IN
real estate" II know nothing about real
es.nten
go TO TIE first auction and buy tho
property. You cannot be much cheated ia
that, because you viii have to give very little
more than somebody else viii Be wiling TO
pay for II, save your money, collect your
fees pay yoar notes as they become due. Se
that the property Is improved property, %
that the rent will Keep down yoBT interest Ac-
count and when you &c, any other money in-
vest il In the same way. and II your notes
pres upon you little faster than you can pay
them why, we viii, when we aDd thst Is what
you are doing With your money, discount, your
note and give you "A little more time 80 tha, you
can paw Il ap. This will necesxitate the prompt
collection Of your bslis, for j know that you
would rather work and earn ti0U than dun a
man for II, Unless you have pressing need
for il You have net even asked for . little
bill that We owe yoa Ia the bank, which
shows me that yo1 do not promptly collect
your anex- I followed tie advice aud
bought q number Of pieces Of property Ia
Lo~sl that cans 70 ras in tina: way. caa /
only say tat wish had bseo vi.s enough /
70 have cortin1ed this oourne throysh iR.
Do no, think aeed TO extend sae~e sux-
ge<tlons aav further, because IL . youay man /
Wont mind ;bese hs won't any o;hsr>. AID /
cannot egg-es+ any b~steF oasa-Ben taniu |
r. Butler il New YORK sun.