St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-01-25
PL ACES FOR PR GIFTS
What Prosperous Business
Men Do With Their
Ducats.
Reliable Bonds Regarded as.
Best Form Of Invest Z
ment.
Evils Of the Tendency to Ex-
pand Sharply Pointed
Out.
Valuable Hints for Beginners
in Business to Fol-
low.

The relations of the prosperous buSl-
ness man to society, except possibly In
the strictly material sense. are not as
rule thoroughly understood.
If he deals fairly by his customers,
and has the external semblance of moral
recttude, he will assume, in nine cases
out of ten, that he is entitled to aquit-
lance of all obligations to the COM
munity.
Ask him what he does with his profits,
and he is very likely to tell you that it
is ''none of your business"
And yet it is some of your business,
in so much as the disposition of wealth
is in measure the subject of lively in
terest to every individual, be he rich or
poor; not-let it be said before any
hasty conclusions are drawn from the
assertion-that any man of affairs is in
duty bound to hold UP an itemized ac-
count of his expenditures for the Scru-
tiny of curious public, but he does
troll his financial resources as to afford
them the fullest measure OF life, lib
erty and happiness"
That our merchants are the bulwarkS
of defense and protection to the integ-
rity of our nation is an aphOriSm quite
trite and apodictic, but the full force OF
the truism is not felt until it IS realized
how great power for good or for evil
they WELD in their wealth. Standing.
as thew do, at the head of institutions
secondary in Importance only to govern
ment, they exert a widespread infiu
ence on the community with which they
are in such close touch. Their good
management and its attendant success
is, rehectively, the key to general pros
perity. Their false steps and consequent
failures open the way to the eX-
pansive valley of adversely. Let the
great mercantile concern SuccumD to
the effects of extravaganza. unWlse
speculation OF a succession OF financial
misfortunes, and the confidence OF the
commercial world will be shaken, a sea-
son of distrust and insecurity will fol-
low, money will for a time become
scarce, employers will reduce their
forces and contract their output, millions
of people will be Inconvenience, and
thousands less prepared to weather the
storm will suffer. The same effects in
ratio will follow the bankruptcy of a
minor concern, the radius of the circle
of influence accommodating itself to the
amount of money involved.
~
1t was with central idea in conform
ity with that here expressed that re-
porter of leading commercial paper
Sought to gather from few notable
economists some thoughts on the mat
ter of the investment of profits by bust
ness men. 70 the gentleman inter
viewed he addressed questions some
thing like these:
1. When merchants are exceptionally
prosperous, what shall they do with
their surplus money?
2. Is it wise for tradesmen to invest
in stocks? bsra0
3. How much ready money shall they
keep on hand?
4. How do prudent men guard
against possible stringency in the money
market?
1t is but fair to those who were good
enough to give the matter their atten-
ton to say that their replies were given
upon the spur of the moment, and that
they do not represent mature delibera-
ton of the subject. On most points
raised there was concurrence, and II
one, particularly-th reliable bonds
were the best form in which to keer
surplus capital-there was unanimity.