The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1907-04-17
II sasms to nie a sort Of home-co,n-

ing to be with teachers again. For
years a teacher myself, cannot fel
myself an outsider in such a gather
ing as this. nor do I believe that my
interest in the purposes for which this
association was organized will ever
Tag
If in the subject that has been as
signed me there IS no appeal to ny
eonbasive instinct BY reason OF the
fact that / am speakfng to an audi
ence already convinced of what /
would demonstrate this is more thah
made up for by the sympathy and in
terest which such sabject viii elicit
from you no mated what my treat
ment Of may be.
Ezpend.tures apoa schools as an
5nFestment.
Inves1pent is the ea2aati9 word
IN this sub5eet. The cel1stsry Die
tioaary dednes investment as an s'ez-
penaiture for profit or future bene-
II is the exchanging Of present
valu-even to the point Of sacrifice
at tinae-for future good. Hope IS
tbs vessel that carries i TO its desti-
nation.
There are certain elements that en-
ter into every Investment. The firs1
OF these is capital It goes Without
saying that investment IS out Of the
question for one who has nothing to
invest. Next the selection of a place
to invest, and then the presence to
wait for the fruits Of investment It
is safe to say that the farmer who
digs up his corn the day after it Is
piantedso see if it IS sprodting viii
not make much of q, crop. He may
add to his knowledge, but he won't
increase fis, capital In the selection
of place to put ones capital the
main element is confidence. The first
question the investor asks is if it is
safe. 1t is in this that investment diff
fers from speculation. The investor
seeks his own with interest at his
conlirg; he does not care to hazard
his capital upon the chance of large
increase. The speculator, On the ota-
er aand, in many instances, throws
caution to the winds in his grasping
after the increase. In both the IN
crease is the inducement; there must
be some future inducement; there
must be some future benefit or ulti-
mate reward or there would be no
Investing. But the amount Of in
crease is not the only test Of in
Nestment. The speculator is not
desirable element in the business
world. His disregard of real values
brings about an imitation that must
be followed by more or less shrink
age He is not much worse, however.
than the timid soul who takes his tai
ent and buries it, withdra1s his cap
Ital from productivity. Such a man.
If he ever ventures into the business
world, taxes fright at the first shad-
ow he sees and by defying safety,
produces every panic that shakes the
foundations of finance. He calls in
his money when it iymost needed and
brings on failures where none need
have happened.
take it that the expenditures
meant my the subject include only
money or capital Of a material ma
trre. And I am not TO go into a dis
cussion of the patience, The tireless
energy, the devotion, the love, yes, ]
might say the heroism. that have
made almost every school house the
scene of dramas which need only the
pen OF the master to make them
tSUcA CllS uSdIl VI lliS HOi1O. ,oSCi1CS
that are none the less pathetic for
lack Of a poet to sing them. What
a world OF hopes, OF dreams, Of vis-
ions, Of ambitions have clustered
around our schools. What tragedies
of Encouragement, OF ingratitude, OF
despeir have been enacted in them!
What Herculean labors aave beer
lavished upon them. Through them
what monuments have beee buildea
better than the builders knew. He
wllo-iilumined raised, s'i2orted-
could rise to the height OF this great
argument would win the sympathy
of the most Indifferent, and thrill the
world.
It is not for me. however, t. tread
upon such holy ground, and / hasten
to limit my theme to the benefit that