The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1915-08-21
THE INVESTMENT A SUB
STITUTE FOR A HOME
BY DR.. FRANK CRANE
Copyright. 1915, by Frank Crane)

One of the commonplaces of thrift is
mat every man should own a home. To
nave plot of earth, a house. COW and
a tree make him good citizen. cures him
oil responsibility and antidotes his ten
dency to experiment in dangerous rad
icalism
Like a good many other American
ideas, this originated in the DAYS when
most of us were farmers or citizens of
small towns. II has tc be modified 10 fit
our present condition, where an ever
increasing portion of the population dwell
in cities.
Most city people are renters. 1T is
a condition that conlrontS us and not a
theory. We will not here discuss the
problem of Landlordism except to anim-
advert 10 the fact that the Single Takers
are landing some rather hard blows upon
the existing system.
But the day is far off when the ordi-
nary wage-earner will be able 10 own
his own domicile in cities where they are
TO live in huge buildings, each contain
ing many flats. And the tendency of a
man doomed to pay rent all his days and
having no incentive to acquire real estate
Is toward unthrift. Why should he save?
The makers of public opinion. there
fore, should do all they can to show ths
worker other ways 10 lay up something
against rainy day, Government should
see that sound investments are provided
and properly Sateguarded for people Of
moderate means.
Why not, then open up the field OF in
vestment IN the great business enter
pri5es of the country? Why not provide
a way for the millions to buy the stocks
and bonds listed on the Stock Exchange?
Why should the securities In our great
manufacturing machinery be 50 common
Iy supposed 20 be objects of interest only
to the rich, OF Of speculation for gam
blers?
Those firms that deal in odd lots" in
the partial payment plans for purchasing
standard securities, and in other means
for enabling the man with 500 to pur-
chase profit-bearing securities are doing
good work.
There are plenty of stocks as sound as
real estate and a deal more negotiable.
There are many bonds As safe as human
affairs will allow. To own these is the
best substitute for home.
There is a prejudice in the common
mind against stocks and bonds Such
cases as the downfall Of the Rock Island
and the New Haven railways make
money-savers suspicious. How do we
know. they ask, that we will ever get our
principal back, or that some band of
powerful manpulators will not drive the
value OF our securities down so that we
will lose good part of their value?
Government has not yet handled this
matter properly. Any concern that bids
for public subscription To its securities
should be under the strictest official SUI
pervsion Controllers of huge wealth
units should not be allowed absolute, IT.
responsible power over property where
many poorer persons have invested their
savings.
Besides this, newspapers and maya
zines should constantly teach the plain
Of investment They are not
so complicated as is generally imagined.
a railroad. for instance, that for twenty
years has been conservatively and pros
perously managed ought TO have the con-
fdence of all.
Above all, those concerns which issue
their securities in millions should appeal
to the little people, and sell in blocks OF
800 or even $40, instead of $1,000 and
up They would rest upon sounder
basis, they would get the friendly atti-
tude of the public, and they would bene-
TT the country at large.
If the city dweller cannot hope for a
house and lot, let him look carefully over
the financial advertisements in his news
paper, let him consult reliable bond deal
ars and brokers and let him put his
money in the great business houses and
that constitute the fabric Of
his countrys prosperity.