The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1895-02-02

lOI These luIuSos anu ~ &c PI'i VI mas - 49,
that he begin TO save a portion of his earn
ings and invest them, not in speculation,
but il securities or in property, or in a leg
itimate business in such form as will. per-
haps, slowly but yet surely grow into the
reserve upon which he can fall back in
emergencies or in old age, and live upon
his own savings. think we are all agreed
as to the adyisability. nay, the duty of lay
ing up competence, and hence TO retain
our self respect; in the words OF Burns:
TO win Dame Fortunes kindly smile
Assiduous wait upon her.
And gather gear by every vile
That's justified by honor;
Not to hide ii in a ed ;e,
Nor for a train-attendant;
But for the glorious privilege
OF being independent.
.'Wealth'-not wealth in millions, but
simply revenue sufficient for modest. indie
penden living: but, however, this opens up
the entire subject of wealth in greater
or less degree. Let me give few. rules
founded upon experience. as to compe5ence
and wealth. and how to win them:
.First-Concentrate your mind and effort
upon one pursuit. 1t does not matter much
what that pursuit is. SO that it be useful
and honorable, and be the first authority in
that. OF course, you have heard the advice,
''Not to put all your eggs in one basket. !"
1t is long since 1 first told young men TO
reject that advice and pursue the contrary
course. "Put all your eggs in one basket
and then watch that basket" More men
fail to win competence and wealth from dis
regard of this advice. and from scattering
ones shot, than from any other cause.
Whenever you see man who is director in
twenty different companies, and interested
in various pursuits, put him down as one
sure to become Jack-of aIl-trades and
master of none. This is the age of specula-
tion. I have known many men fail, but
very few owing to their own business. Cen
orally because they have had investments
in ayocations which they did not under
stand.
ssThere is second rule: You must not be
content with simply performing the part
assigned to you; you must do something
beyond that, and watch your employers
interest at every point. no matter whether
it is in your special province or not, and
do not hesitate to appraise promptly of any
thing that you see in any part OF his busi-
ness which does not commend itself to your
august approval. You nave heard "Obey
orders if you break owners" Do not let
the graduate of Old Union be SO stupid.
Break them anytime if you are clear that
breaking orders will save owners. and then
go boldly to your employer and point out to
him how foolish he has been in giving such
an order. Believe me. the young man who
does not now the business of his special
department much better than his employer
can possibly do has not the elements of the
future millionaire in him.
There is another point: Never try to
make too good bargain either for your
self or for your employer. Be always fair,
avoiding anything like sharp practice. 1t
is a poor bargain when both parties to 1t are
not ben Gifted. and therefore happy at hav-
ing made it. Every unjust advantage ta-
ken in business sooner or later proves
serious disadvantage. Men who become
great millionaires. cooperating as they
must with others, must secure and hold the
implicit con fideIce of their associates and
bear reputation as being in all things fair.
liberal. and ccnsiderata: their word must
be better than their bond. and their desire
to do the fair and liberal thing better than
either word or bond.
.'Never speculate. The man who CANDLES
in stocks in Wall street is not more culpable
than he who CANDLES at Monte Carlo, but
he has much less sense, because the
chances between winning and losing are
not as equally divided in New York as at
the regular gambling establishment. The
life of \ speculator. of course. is the life of
a gamester. and this is fatal to the develop
ment of the reasoning and judging faculties
in man. 1t is life of intense excitement
fatal to thought and to study. There are
but few instances of men who have won
fortune upon tho exchange. They are up
to-day and down tomorrow. and usually
breaK Gown in middle life shattered wrecks.
Those of you who may become New York
physicians will soon become acquainted
with the lamentable results of stock gamb-
ling. l pray you, avoid speculation as you
would prosper not only In wealth but in
health, happiness, and honor. Besides this
a moral consideration should prevent you.
The man who wins the money of others
renders no service TO his fellows in ex-
change. All We get should be in return for
some service rendered.
1T is indispensable that the future com
petence maker or millionaire should begin
to save portion OF his earning, early, no
matter how small these earnings may be.
d
that good habits and ability go unrecog
nized in this age. Tie millionaire employ
er is constantly keeping his eyes open just
for these qualities in young men. 1t is not
capital that he desires, but ability. charac-
ter. and good. thrifty habits. Begin to lay
by portion of your earnings every month,
and keep up that habit. and ! should like to
ensure you at very low rate your future
millionaireship.
''You always hear that drinking liquor is
the dangerous rock in the path of the
young. This is true; perhaps the most Sc
nous temptation to which young man is
exposed. ! never like to preach TO young
men, knowing that they have sense enough
not to like to be preached at; besides, they
have a very wholesome contempt for the
man who is always telling them TO be goody
goody and who is not SO awfully goody
goody himself. Because l have practiced
since my youth what l now recommend to
you upon The liquor question you will,
hope, patiently hear me. The rule for young
men. especially for a graduate of Union
College. is that it is too low too common,