Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1919-03-05
GRAND FoRKs HERALD. WEDNESDAY. MARCH 3, 1919
SAVING ACCOMPLISHMENT

EesenSy noIe WIZ y another. opportunity =
scribe for Liberty Bonds For some time War Savings
long before great organized campaigns for the purpose
Of inducing, the people to invest their money In govern,
ment securities will be over. What will happen next?
There are probably several million people in the
United States who have stored away safely government
securities which represent actual hard cash saved. who
have never in their lives had as much as the price of a
baby bond saved. And without question the possession. Of
these attractive certificates gives the owner a very COM
Portable feeling. The interest earnings may not be large,
but the fact that some interest is being earned, and that
the process is going on while the owners sleep as well as
while they work. is one Of the pleasant things about such
s
When the government no longer asks for the loan
of the funds of its citizens. what will happen next? Will
those who have just taken the first steps in saving aban-.
don the practice and return to the former plan Of scat
terng with one hand as fast as money can be collected
with the other? Unquestionably this will be the course
with some. Not only that, but the bonds themselves
which have been bought and paid for, and which now
represent some little comfortable accumulation, will be
sacrificed in order that, now that the stress of war is over,
some personal desire may be gratified.
But this will not be by any means the universal ex-
perience. There will be many who during these past few
years have learned their first lessons in thrift. who will
be so impressed with the results that they will be unwill-
ing to return to the old ways. That which has been, in
a way, forced upon them by the needs Of the nation will
be found to have such satisfactory results that the prac-
tce Of saving will be continued, and there will be con-
slant search for opportunities for investment.
Many a promising career of thrift has been wrecked
on the rock Of unwise investment. Glittering promises
of large dividends have led people Of small means to in
vest in speculative enterprises. and failure Of these en-
terprises has led to the loss of principal instead of the
receipt of big interest. After a few experiences of this
kind the victim has rather naturally concluded that it
was better for him to enjoy his money as he earned it
than to practice self-denial and lose the proceeds.
For the person with only a little money there is one
rule Of unvarying application. 1t is safety First" If
that rule is violated all the treatises on investment are
worthless. The man of moderate or great wealth, he who
has more than enough money for his needs, can afford
to take chances with a part of his possessions. If the
experiment proves successful he may reap very large re-
turns. If it is unsuccessful the loss of his investment will
not cripple him. But the person Of small means. whose
Accommodations are not more than are necessary to make
proper provision against sickness or old age, cannot af-
ford losses. Therefore he cannot afford to invest money,
no matter how attractive the proposition, in securities
which are not gid edged. Such securities necessarily
yield relatively low rates Of interest: But these are the
only securities whica the small investor can afford to
buy. .u' 4