The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1924-04-20
REAL MEANING
or BECOMING A
BONDHOLDER

In this little series Of investment
truths so far / have. held to the self
interest, of the investor, to the advan-
tages Of the bonds for the investors
own individual profits I wish now to
speak of the greater purpose fof bonds
their public welfare service To be a
bond holder means much more than to
own pieces of engraved paper that as
sure "a certain income and resultant
comforts to the bond holder and his
family. Toebe bond holder means to
have part in the upbuilding and bet
ternent of the country. to help pro-
vide more homes, employment. better
schools, better and more wholesome
surroundings for all. for largely on the
credit obtained. by bonds are our fac
tories. mills. and railroads operated.
on rhomes built, our commerce carried
on, our progress and our wealth deyel-
oped. II do; not say thissin the slight
est sense from sentimental viewpoint.
but as a matter of cold fact.
What happens when you draw your
savings from Q bank and buy good
bond who is benefited. who injured :?
You benefit. of course. because sou have
a safe investment. But, the hank that
had your savings account, it suffers
byt.your Withdrawing your funds you
say? Tt does not. 1t. gains. At least
a part Of your bond yield will go back
into savings account. When you have
realized how surely and dependably
well-ihvested money works. your in
centive to save increases and your say
ings account grows to accumulate more
Investments. ~. -ii&
! More than that. the enterprise that
has received your money for bond
puts it with money from other bond
buyers and extends its plant. Thereby
IL gives jobs to builders. to machine
operators, to other. workers. Some of
these. workers 90 to your bank with
their savings. Your money will have
increased the production and the en-
ploSing power of the enterprise. The
railroads and mines that feed it will
benefit. The farmer will have better
market because. more people have en-
ploEment. more, wealth is being created
to pc distributed among the people
What has put more good books. more
good music, more pictures. more COM
forts into our homes today than any
other force:f What has given us better
schools. better roads, better homes and
advantages and conveniences that were
not dreamed of generation ago? TThe
answer ise business enterprise. And
what made our wonderful business en-
terprIse possible? The answer is credit
the cooperative assembling of capital:
IN other words. a high order of team
work. -
bend buylng is withdrawing team
work. Only comparatively few men
ana women have capacity for great
creative work either in industry, com.
merce, art, letters or science. MANY
OF us could not develop a great indus.
try or write great poem if we had
unlimited opportunity to do so. Rut
all of US can, for our own personal
good and for the betterment of the
country, engage in teamwork that will
enable the few of creative force to ore.
ate more wealth for the better we'll
being of. all. When we buy bonds in
industry or support an art
OF sclentifict school, We contribute. to
.ns greater production and creation of
ar, science and industry, and we bene-
DO not believe that we have the hest
possible economic system. In fact.
40 not know. any man who is satisfied
with our present system. But il is the
best that humanity and civilization 50
far have been able to develop. II has
flaws. and faults. But it has done more
tor humanity than has any other system
IN history. 1t is infinitely more to he
desired than the untried theories of nm.
tried men. We should and no doubt
will improve it. In fact, this one LITTLE
article Is q humble and tiny effort in
tnat direction. to suggest what it NAV
IN improving one of the greatest faults
90 not even try to take the opportuni.
ties that our present system holds out
to al OF us and that are plain before
US, IT.. in our headlong waste, care.
lessness and egotism we throw away
millions yearly in fraudulent and
worthless securities and in extrava-
ganee, what possible economic system
could save US from our folly? There
Is scarcely "a man or. woman, excepting
a. few unfortunate cases, for whom the
road to financial independence is not
open wide. Nor iissit a hard road. 1t
simply. requires for those who travel it
that they have common sense and back
bone to put a part of their earnings
regularly into a savings account and
life insurance or in sound bonds on the
partial payment plan and that they in
vest and reinvest their accumulation in
sound. investment securities that have
the stamp of approval of investment
security dealers of integrity.