GIFT OF 
 Irving M. Scott 
 
 GIFT 
 
HOW TO 
 
 MAKE MONEY, 
 
 AND 
 
 HOW TO KEEP IT 
 
 t 
 By THOMAS A. DA VIES, 
 
 A THOR OF COSMOGONY, OR MYSTERIES OF CREATION, AND ANSWER TO HUGH MILLER 
 AND GEOLOGISTS. 
 
 < 
 
 NEW YORK: 
 
 G. W. Carleton & Co., 499 Broadway. 
 
 LONDON: S. LOW, SON & CO. 
 
 MDCCCLXVIII. 
 
 
Entered according to Act of Congress, in the year 1867, by 
 
 THOMAS A. DAVIES, 
 
 in the Clerk's Office of theDistridt Court of the United States, for the Southern District 
 
 of New York. 
 
 GIFT 
 
 The New York Printing Company, 
 
 8i, 83, and 85 Centre Street, 
 
 N t ew York. 
 
H F03 &e 
 
 CONTENTS. 
 
 FAGB 
 
 CHAPTER I. 
 
 First Step in Money-making and Saving, . . .11 
 
 CHAPTER II. 
 
 What is a Fortune, and what an Independence ? . 16 
 
 CHAPTER III. 
 Fountains of Wealth, 22 
 
 CHAPTER IV. 
 Labor and its Representative money, . . . . 32 
 
 CHAPTER V. 
 
 The Seeds of Fortunes, . . ... . . .58 
 
 CHAPTER VI. 
 How to make Money, 81 
 
 CHAPTER VII. 
 Manual Labor, 108 
 
 CHAPTER VIII. 
 Apprentices, 118 
 
 CHAPTER IX. 
 Clerks, ' . .129 
 
 CHAPTER X. 
 Farming and Growing, 139 
 
 M712450 
 
x Contents. 
 
 FAGB 
 
 CHAPTER XI. 
 Mechanical Business, 152 
 
 CHAPTER XII. 
 Retail Merchandising, 174 
 
 CHAPTER XIII. 
 Manufacturing Business, . . ' 182 
 
 CHAPTER XIV. 
 Wholesale Merchandising, 191 
 
 CHAPTER XV. 
 Brokerage and Commission, . 201 
 
 CHAPTER XVI. 
 Intellectual Labor. Lawyers, 209 
 
 CHAPTER XVII. 
 Intellectual Labor. Physicians, 219 
 
 CHAPTER XVIII. 
 
 Intellectual Labor. Professional Salaried Persons, 225 
 
 CHAPTER XIX. 
 Investments, 234 
 
 CHAPTER XX. 
 How Money is lost, . 245 
 
 CHAPTER XXI. 
 Earnings and Savings, 254 
 
 CHAPTER XXII. 
 Banking and Insurance, 273 
 
 CHAPTER XXIII. 
 Life Insurance, 288 
 
How to Make Money. 
 
 CHAPTER I. 
 
 FIRST STEP IN MONEY-MAKING AND SAVING. 
 
 Can I make money ? Will I ? Yes, and more. Tenure of a dollar 
 or of property. Why is my money mine ? Good government 
 sure tenure by law. Watch politicians. Property in danger. 
 See to your political principles. Rights of citizens invaded. 
 Stand from under. Analogy. How to secure rights. Sheriff. 
 Posse-Comitatus. State troops. United States troops. All 
 the States. Millions of men. Success or downfall of govern- 
 ment. Read Constitution and laws. Read on or stop. 
 
 Reader, if you have a dollar, or work for one, you are 
 interested in the contents of this book. You have look- 
 ed at the title, and it excites your cupidity if it does not 
 please your fancy. But you say to yourself Will it teach 
 me how to make money ? If the directions are followed, 
 it will. Will it show me how to keep it ? It will. It 
 will do more than that it will show you how to make 
 money with money. We have much knowledge which 
 we do not use to advantage, and you may not apply 
 the principles here laid down ; if so, you will probably 
 be no better off by its reading. 
 
 By what tenure do you hold the dollar or property 
 you have, or get that which is your due ? Nine-tenths 
 of persons, and possibly a larger proportion, never 
 
12 How to make Mo7iey. 
 
 heard this idea suggested. In other words, why is not 
 your property mine ? Simply because we have a gov- 
 ernment, a social compact ; and one of the laws of that 
 government is, that what belongs to you is your own, 
 and not some other person's. This is the fundamental 
 law, the practice and usage of all people. Then comes 
 the direct: question to every one Are you interested in 
 having what is your own ? The reply is certain. I am. 
 Then you are directly interested in preserving the gov- 
 ernment and observing the laws, which alone can secure 
 you in these rights, and also in maintaining the rights 
 of others in like manner. For you Cannot expect to be 
 maintained in yours unless you extend to others the 
 same protection. 
 
 The moment, then, that one knows that what he 
 has or what he can get depends upon equal laws and 
 equal j ustice to all, and that the titles of property rest 
 solely upon the law, such person has made one step 
 forward on the long road, in not only making money, 
 but in keeping the title to it when made. You cannot 
 do better, then, than watch your politicians (who gene- 
 rally have no money), and see that they enact such laws 
 as are proper, and that they do not pass your money or 
 hard earnings into their own pockets or those of their 
 friends. It is the opinion of many that there is a little 
 too much of this thing done in the country about these 
 times. 
 
 You may always know, then, when the title of your 
 property is in danger, or when your own rights are in 
 danger, from these signs. When you see unequal laws 
 passed, or see one or any number of citizens deprived of 
 legal rights, you may wisely conclude your turn will 
 come next You may wisely conclude, too, that when 
 
How to make Money. 13 
 
 one legal right of a citizen of a State is taken from him, 
 the next step may be to deprive you of your right of 
 tenure to property. These are the first evidences of 
 decay in the strength of your government, and probably 
 of its final dissolution and downfall. 
 
 As a mere money-making and money-saving means, a 
 steady, just government, with laws well observed by all, 
 even if no higher motive existed, is the first great idea. 
 You may always look for the reverse in the actions of 
 those who have nothing to lose and everything to gain. 
 If, then, you wish to be well grounded in the principles 
 of money-making and money-saving, inform yourself of 
 your political position, and canvass carefully the effect of 
 your political action. Know what principles you are advo- 
 cating by your vote whether they will tend to disturb 
 or steady the monetary affairs of the State or country, 
 or whether they are for the good of the whole. 
 
 One principle is certain in this country that when 
 sections undertake to manage other sections which have 
 the right to manage themselves and their own affairs, 
 look out and stand from under ; trouble is in the wind 
 and future. Look to your dollars, your securities, and 
 to your lives. As much as men can do in bodies-politic 
 is to manage themselves and their own affairs well, and 
 let other people's business alone. No more can one 
 body-politic do this successfully or satisfactorily, than 
 one firm can interfere with and manage the affairs of. 
 another, without disturbance, trouble, and disaster. 
 
 That every reader may understand how important a 
 government and laws are in making money and keeping 
 it, it will only be necessary to cite the process by which 
 individual property rights are maintained in this country. 
 Suppose a property right is invaded, what is the course 
 
14 How to make Money. 
 
 of the party to gain redress ? The individual applies to 
 the legal tribunals to adjudicate the case ; and upon a 
 hearing, it is decided favorably, if you please. The next 
 step is to place in the hands of the sheriff the order of 
 the court, and he proceeds to collect the amount, and if 
 the execution is satisfied, well ; but if not, and force is 
 resorted to, to prevent the execution, and the sheriff alone 
 is unable to overcome it, he calls out his posse-comitatus 
 that is, a number of citizens who will aid him in securing 
 the injured parties' rights. If this should not be suffi- 
 cient, ne calls upon the Governor of the State to turn out 
 the State troops ; and if tfrese are not sufficient still, the 
 Governor calls upon the President for United States 
 troops ; and if they, too, are not sufficiently powerful, 
 the President calls upon the Governors of the various 
 States until force enough is obtained amounting, it may 
 be, in this country to many millions of men to maintain 
 the rights of this one individual. If the government suc- 
 ceeds well, then, the government stands ; if it fails, in all 
 probability another would be established upon its ruins. 
 But the individual would lose his rights, whatever they 
 might be. 
 
 This shows the magnitude of the individual's right, and 
 the importance to all concerned that such right should 
 be respected by legislators and all citizens without such 
 appeal ; and that such appeal may result in the total 
 destruction of the right and the government also, besides 
 an untold los of life and property to a large class not in 
 any way at fault in the matter. 
 
 Every one, then, who wishes to make money and keep 
 it by a secure tenure, should read the Constitution of the 
 United States and the laws of his own State, and there- 
 by inform himself of his duty as a citizen, this being the 
 
How to make Money. 15 
 
 first principle of self-interest ; and then see to it that 
 you do this duty faithfully. If not, the reader had better 
 stop where he is, and save himself the trouble of making 
 money to be lost by his own neglect. If otherwise, read 
 on, and act according! y. 
 
1 6 How to make Money. 
 
 CHAPTER ili 
 
 WHAT IS A FORTUNE, AND WHAT AN INDEPENDENCE ? 
 
 Unanswerable question. Halo. Increases as we approach. Plea- 
 sures of a fortune. Hope. Anticipations. Hoarding stigma- 
 tized. Make a show. No money. Obscurity. Poverty 
 Question which. Spend or make. Fear to fall. False posi- 
 tion. Lavish expenditures. Approved. Moral and political 
 duty. Independence. What. Live without labor. Fixed 
 amount. All can gain independence. Labor respectable. 
 All labor. No meanness or penuriousness. Proper economy. 
 Trouble. Debt. Not happy. Money at interest. Re- 
 spectable. Contentment. You your owner. Not mortgaged. 
 No slave. Not ashamed to spend, not ashamed to make. 
 
 The answer to the question, What is a fortune ? never has 
 been, and probably never will be answered. For what 
 may be a fortune for one is of little account in the mil- 
 lions of another. The nearest definition that can be 
 given to this undefmable amount is, that it is a halo of a 
 mysterious sum of money which recedes, increasing as 
 we approach. It is almost, if not altogether, a universal 
 ambition to acquire a fortune by those who have intelli- 
 gence enough to understand, or experience enough to 
 know, the pleasures which are supposed to surround its 
 possession. There are peculiar qualities of the human 
 mind brought into action in the pursuit and possession 
 of wealth. The simple acquisition of money to some is a 
 substantial, realized pleasure; while with others the 
 simple possession gives in like manner a heartfelt satis- 
 faction. Then there are those who take no special plea- 
 sure in the acquisition, but theirs consists in hope 
 
How to make Money. iy 
 
 and anticipation of what they will derive in its posses- 
 sion or in the spending of it ; while there are still others 
 who make to enjoy the fruits, and do enjoy them by a 
 liberal expenditure in the higher and nobler deeds of the 
 liberal man of fortune and luxurious ease. 
 
 Nor can there be found among men a nobler senti- 
 ment than stimulates him who labors to acquire means 
 to spend in contributing comfort to those whose mis- 
 judgment or misfortunes have placed them in the back- 
 ground of poverty and want. Let such noble men live 
 and enjoy while they dispense ; the people should be proud 
 of such examples, and their own consciences will be their 
 own reward. But what more despicable or degraded 
 than the condition of those who have a fortune, and are' 
 shrivelled up in penuriousness, meanness, and simple 
 money-hoarding ! Such simply hold the means of con- 
 tributing pleasure and comfort to the deserving, without 
 either enjoying what they possess themselves or deriv- 
 ing any benefit from the various ways of munificence. 
 
 The largest class of those who make, or desire to make 
 a fortune, have but one idea and that is, to be able to 
 make all the external appearance and show of a man of 
 fortune. Display is the great object, and hence many 
 endeavor to put on the exuviae of a fortune, and expend 
 while they do not possess the means. This is too lamen- 
 tably the case nowadays ; and the result is, that all the 
 substance that would, if saved, in time make a fortune, is 
 squandered in the gratification of a pride only due to 
 him who has accomplished the object. Nor do such 
 individuals gain more than the merited contempt of 
 creditors and sensible people ; they generally fail in the 
 end, and sink in after life into obscurity and poverty. 
 
 It then becomes a solid question for individuals to 
 
1 8 How to make Money. 
 
 maturely consider, while on the road to fortune, whether 
 they will spend their own or the substance of others 
 whether they will live as their means warrant, or assume 
 what they really are not ? The world generally is not 
 deceived by such appearances, though it may be in some 
 peculiar instances. What real pleasure can there be to 
 live at an altitude in life where there is no foundation 
 to support, and fear of a downfall is for ever haunting 
 the imagination ? Such people vainly imagine that they 
 are like the ostrich, who hides his head and conceives 
 his huge, ugly body is in like manner obscured. Re- 
 spectability does not depend upon false tokens ; still, many 
 are satisfied with such a style of life, as the counterfeiter 
 is with his occupation so long as he is not detected in his 
 false position. 
 
 Those who possess fortunes in reality are frequently 
 blamed for lavish expenditure, and what is called a waste 
 of money. The more spent of individual fortune, the 
 better for the community at large for the trades, and for 
 the laboring classes. Nothing is more commendable 
 than 'judicious expenditure by those who have the for- 
 tunes producing incomes. There is a large class, however, 
 who wish to spend as fast as they acquire money. To 
 those, the only object will be to find out how to make 
 it the fastest, that they may have the larger ability to 
 gratify their fancies.' There is a plausibility of argument 
 which may satisfy this class of individuals, found in the 
 fact that they get the gratification by an immediate enjoy- 
 ment, which delay might cut short in death ; or the loss 
 of money after the trouble of accumulating it. 
 
 But these are short-sighted views ; for all persons owe 
 it to themselves and those dependent upon them to save 
 of their means for accident or misfortune. 7/ is a moral 
 
How to make Money. 19 
 
 and political duty to make themselves and their dependants 
 independent of public or private charity ; for if they do not, 
 they spend that which does not aclually belong to them. 
 .To make oneself independent should be the first great 
 aim of life. Then what is an independence ? The 
 answer to this question is plain ; being such an amount 
 of money, safely invested, as will produce an income 
 equal to the necessaries of life. In other words, to be 
 able to live without labor. If one could always be sure 
 to be able to save even something, or enough to keep 
 him from falling a charge either upon public or private 
 charity, there would be no need of an independence. 
 But, as all know, such cannot be guaranteed to any one. 
 
 While the fortune, then, is an indefinable amount, the 
 independence is a fixed sum dependent upon the price 
 of necessaries, and the country in which it is required. 
 In some latitudes this amount is very small, while in 
 others it is no immaterial sum. It may be assumed that 
 the interest of five thousand dollars invested at six per 
 cent, would accomplish this object. If, then, the desires 
 and wants are no more, then the individual has an inde- 
 pendence, and a fortune too. But the ever-living desire of 
 gain, even when this sum is obtained, will spur on its 
 possessor to further accumulation as a general rule. If, 
 however, he has others dependent upon him for support 
 who cannot earn themselves, he must have as many 
 independencies as there are individuals to support. 
 
 There is no able-bodied person, of sound mind, who 
 cannot in this country gain an independence from labor. 
 For all he has to do is to lay aside of what he re- 
 ceives, all that is not required for the necessaries of life ; 
 and by looking at the tables at the back of this book 
 he will find that small earnings per day will soon 
 
20 Hozv to make Money. 
 
 mount up to this standard, and even more. Penurious- 
 ness or meanness is not recommended ; but on the con- 
 trary, will prevent one making the most money with his 
 opportunities. A just and proper economy is the true 
 line, and any one can determine this for himself. No 
 one feels so happy as when he is pursuing a legitimate 
 business, is out of debt, and has some money at interest. 
 From that moment he lives in a new world, is more re- 
 spected, has more substantial friends, and wields a greater 
 influence among his peers. Not only that, but his very 
 independence of circumstances makes his services in any 
 department of life more valuable, and he can command 
 more money for them, and can hence accumulate faster. 
 
 But let one be behindhand, or in debt, or in trouble, 
 or on the anxious seat as to how he will make ends meet 
 to support himself and his family he is in the power of 
 any one who has any transactions with him. He be- 
 comes the suppliant for everything ; and cannot, from the 
 nature of things, get as much for what he gives as though 
 the reverse were the case. An independence, then, should 
 be the first thing aimed at, either by male or female ; and 
 every nerve and sinew should be strained, and every 
 expenditure scrutinized, till this end shall have been 
 attained. Self-denial should be exercised in everything, 
 remembering always that such a course is not only re- 
 spectable, but in the end will make you more friends, and 
 more happiness from the beginning to the end of life. 
 You are, then, your own always, and never mortgaged to 
 others, which is a mild term for being the slave of another. 
 The object being here to explain simply what a fortune 
 and an independence are, the manner in which they can 
 be acquired will be explained hereafter. 
 
 The independence, although it may free you from fur- 
 
How to make Money. 21 
 
 ther labor to make money by it, does not free you of labor 
 altogether. The little mercantile business required to be 
 carried on. to purchase your supplies and attend to the 
 home comforts, is still to be done. If that be to spend 
 three hundred dollars per annum, this is, then, the amount 
 of your mercantile business. Every dollar you spend 
 requires two to make the expenditure the seller and the 
 purchaser. The man of fortune, who spends his three 
 thousand dollars, has in this way ten times as much 
 labor to perform as he who spends his three hundred dol- 
 lars ; and the man who spends ' his thirty thousand dol- 
 lars, does one hundred times as much as the one who 
 spends three hundred dollars. 
 
 From this it will be seen that every calling in life has 
 its labor ; and even the man of fortune is not free from 
 it ; for in addition to that of the expenditure, he has also 
 to see to his investments, to the collection of his income, 
 and such-like ; so that all have labor of some kind or 
 another to perform, and hence we conclude that labor is 
 respectable, and none need be ashamed to labor who would 
 not be ashamed to be seen spending a dollar. Only those 
 who have no money, and do not know the process by which 
 it is attained, look down upon honest labor. The laborer 
 stands higher in the scale of usefulness than they, if they 
 have no accumulated labor (money) to compare with him. 
 
 So that none need hesitate, who want money, to 
 work wherever they can gain employment ; and if they 
 can carry with them knowledge and superior acquire- 
 ments, their services will be more valuable, but not a whit 
 more respectable, on the great scale of political economy. 
 Bearing this steadily in mind, and profiting by it, you 
 have laid a good foundation for success in acquiring an 
 .ndependence or a fortune. 
 
22 How to make Money. 
 
 * CHAPTER III. 
 
 FOUNTAINS OF WEALTH. 
 
 Fountains of wealth open to all. Beacon-lights Wealth the great 
 struggle. The ups and downs. Not explainable. Founda- 
 tions of value. Machinery of life. Questions. How to make 
 services valuable. Example. Result. Same wages most valu- 
 able. Most money. Best labor cheapest. Mechanical labor 
 compared. Best makes most money. Promotion by care. 
 Servant girls. Best make most. Small fortunes. Salesmen 
 compared. Interest. Pleasant manners. Attention to busi- 
 ness. Advancement. Best makes $131,950. Poorest makes 
 nothing. Springs that feed the fountain. Great secret. 
 Wealth in value of services. 
 
 In this country, the fountains of wealth are open to all. 
 Few avail themselves of the opportunity presented to 
 accumulate a fortune, while every one of able body and 
 sound mind can make himself independent of labor, if 
 not achieve a fortune in time. As far as history, either 
 sacred or profane, leads us back over the toiling masses 
 of mankind, the struggles for wealth stand as beacon- 
 lights above their efforts of every other kind. Within 
 these labyrinths, and at every stand-point of the historian, 
 the eternal desire for gain shows itself in almost every 
 motive, and has nerved to acticm almost every toiling 
 hand. These struggles spring from necessities implant- 
 ed in man's very existence ; and however high-born or 
 depressed in the scale of life an individual may be, his 
 nature demands sustenance, and whether he labors for it 
 himself or not, some one must fulfil the necessity and 
 till the ground for his sake. 
 
How to make Money. 23 
 
 Labor, then, is the living fountain of wealth, from out 
 0*" whose depths flow the alimental and luxurious streams 
 of life. As the Maker of all things has moulded one 
 particle of water like another, so too, by nature, is one 
 laborer like another. Each may take different positions 
 iii life, first up, then below, changing positions at every 
 moment of time, fulfilling laws which are inexplicable by 
 the deepest philosophy. To-day may see one basking in 
 the upper-jeweldom of sunshine ; to-morrow, sunk in 
 deep-down recesses where the smiles of plenty, or the 
 cheering rays of luxury never reach. To-day may see 
 the bubble of circumstance quickly convey one from 
 beneath, and bear him above for a time upon its spar- 
 kling glitter ; to-morrow, memory serves to tell his his- 
 <tory in poverty or distress. 
 
 Why one particular globule of water is upon the sur- 
 face, and another just like it, is at the bottom of the 
 ocean, bearing its proportion of the superincumbent 
 weight of others above or why one individual glides 
 serenely on in the pleasures of life with every want sup- 
 plied, and another toils in the scorching sun, overtasked 
 with labor, bearing the burdens of others, is beyond the 
 ability of the naturalist or the logic of the political econ- 
 omist to explain. No other solution can be given for 
 the cause of such relations than can be found in what 
 would seem to be a natural axiom that because an ocean 
 must be made up of globules of water, hence some must 
 be below and perform a heavier duty than those which 
 of necessity must be above ; or that because a commu- 
 nity must be made up of individuals, hence some must 
 occupy superior, and others inferior positions. Nor does 
 this necessity grow out of the normal condition of man ; 
 for that is agriculture limited, too, to the supply of the 
 
24 How to make Money. 
 
 bare necessaries of life, and that agriculture performed 
 with the rudest implements fashioned by the laborers 
 themselves. 
 
 Such labor, it will be seen, ,is the foundation of all 
 values. Its institution caused the necessity for tools to 
 carry it on to advantage ; and for these, materials in wood 
 and metals were required,' which opened new avenues of 
 wants, till the great machinery of human labor in all its 
 varieties has been set in motion. It will be unnecessary 
 to follow up the dependence of one branch of industry 
 upon another, or their relative importance to the whole ; 
 sufficient for the purposes in hand is a glance at the 
 whole, to show that from any or from all, money can be 
 made by individuals by labor in or around this multipli- 
 city of elementary occupations. 
 
 But, says the reader, we knew all this before ; and what 
 insight does this give towards making money ^ In order 
 to make money, one has first to be told where it can be 
 had, and by what means ; and after that, the best mode of 
 getting the most of it by individual exertion. And now it 
 may be asked If you want a lawyer to manage an im- 
 portant case, do you employ a poor one ? If you are 
 dangerously sick, do you employ a poor physician ? If 
 you want a good servant, do you take a greenhorn ? If 
 you want a good, capable, and trustworthy clerk, do you 
 hire one having none of these qualities ? If you want 
 a good thing of any kind, is it of no consequence whether 
 you employ an honest or dishonest man to get it for you ? 
 If you want a good job of carpentry done, do you em- 
 ploy a botch ? If you want good masonry put up, do 
 you get a hod-carrier to do it ? No matter what may be 
 the experience of the reader in such matters, he will 
 answer all these questions in the negative, and sum up 
 
How to make Money. 25 
 
 the whole matter by saying If I want a thing done, I get 
 the best man I can, who will do it cheapest ; and at the 
 same time such individual knows that the cheapest is 
 sometimes, and is most generally, the dearest. 
 
 But little reflection is required to see that the most 
 valuable services will always bring the most money ; and 
 in this principle lies the hidden recess from which flows 
 the stream of independence or a fortune. It must not be 
 forgotten, or passed by, or neglected by any one who 
 wishes to make the most money out of his labor or ser- 
 vices, no matter what they may be. We give an exam- 
 ple. Two mechanics worked upon the same piece of 
 machinery ; both from circumstances received the same 
 pay. One was faithful, pleasant in his manners, obliging, 
 polite, agreeable, worked for the interest of his boss, and 
 was careful of material and saving of his time in doing 
 his work to advantage ; and did his work well. The other 
 did his work equally well when it was done ; but he was 
 snappish, was an eye-servant, was disobliging, uncivil, cut 
 and slashed material to loss ; took his ease about every- 
 thing, and was only careful about one object, and that was 
 to put in his time. Both received the same amount of 
 money each pay-day. The general impression was, that 
 they both were earning money equally fast, and so they 
 would have been as long as they both continued to receive 
 the same amount of money. The truth turned out in the 
 end that the first one had been accumulating standing 
 friends, influence, character, and personal interest ; while 
 the other had stood still, if he had not lost what the 
 other had gained. The first probably never cast a thought 
 of a result further than to do his duty as a matter of corh- 
 mon honesty, while the other only had the simple thought 
 of getting his wages for his time put in. These men, then, 
 
26 How to make Money. 
 
 worked upon no idea of making the most money that 
 could be made by their services ; for if they had, probably 
 both would have worked better, and had they been in- 
 formed of the means, both would have been in the way 
 of receiving extra compensation by advancement. 
 
 The result was, however, that the boss was applied to 
 to recommend a foreman for some important job at the 
 South ; and the personal interest he felt in the first young 
 mechanic, coupled with the consideration that he had 
 been faithful and hone-t, trustworthy and capable, led him 
 to forego his own interest in him as a workman, and 
 recommend him for the promotion which he got. 
 
 Let us analyze the two cases, and see whether these 
 two mechanics did absolutely receive the same amount 
 of money for their services. They both received two 
 dollars a day, for this was some time ago. The foreman, 
 however, was to get five dollars a day for five years, and 
 all expenses paid. So that, considering he had to pay his 
 board at home, he got three dollars and a half more a day 
 than he was getting. By looking at the tables at the end 
 of the book, you will' find that this amount daily for five 
 years, of three hundred and thirteen days, amounts to 
 $6,425.87, interest added each six months at seven per 
 cent. The other mechanic in the meantime was getting 
 the same as he had. Now the two had worked for the 
 same boss, and in the same shop, two years before the 
 first was made a foreman. It will be seen then by calcu- 
 lation that although both were working for the same pay, 
 one actually received $6,425.87 more than the other. Or 
 for the two years, while they both received the same 
 money apparently, one received in fac~t $11.51 more than 
 the other per day. 
 
 The young man, when he received this sum of $6,425.87, 
 
How to make Money. 27 
 
 was just twenty-five years of age, which if improved at 
 compound interest at seven per cent, till he was fifty 
 years of age, would amount to $34,875.98 ; a snug little 
 fortune, and a certain independence for the remainder of 
 his life, if he had done no more than just support himself 
 in the meantime. This simple case illustrates a very 
 important principle in money-making ; any one who 
 works for another, and who cannot or will not apply the 
 lesson to his own condition, will fail to do that which 
 would make his services worth the most money to him- 
 self. 
 
 Let us examine the principles of action which, whether 
 intentional or not, directly brought about this result, and 
 they will be found as follows : 
 
 First. General deportment, consisting of pleasant, 
 agreeable, and attractive manners. 
 
 Second. Displaying an interest in the interests of his 
 employer, by which an interest was created in the mind 
 of the employer for him. 
 
 Third. Economy in time and material used, by which 
 the employer made money over the ordinary workman, 
 and which all men will remember and reciprocate at the 
 first opportunity. 1 
 
 There is, however, another advantage from such a 
 course of conduct, even though it does not lead to such 
 a large result as the one cited. It is always sure to gain 
 for the individual the highest rate of wages under any 
 circumstances, and we will illustrate it on a very limited 
 scale. Two female servants were engaged in the same 
 house, at the same wages, seven dollars per month, 
 One was careful, attentive, kind, obliging, pleasant, and 
 did all and everything to please, save, and take care of 
 the interests of the household; in other words, made' 
 
2 8 How to make Money. 
 
 herself an agreeable and useful servant ; while the 
 other did what she was told, and took about as much 
 interest in matters as servants generally do who think 
 their whole duty is to do just so much, and get their 
 money for doing as little as possible. It so happened 
 that the family determined to discharge one of the two 
 servants, not wishing to keep both. Reader, can you 
 divine which of the two was discharged ? The one was 
 discharged who was the least useful ; and now we will 
 just look at the accounts of these two servants for one 
 year only, and see how they stood at the end of it. The 
 one that remained did the work of both, and^ had her 
 wages raised to ten dollars ; the one that left was out of 
 employment three months, and finally was compelled to 
 take a place af six dollars per month. 
 
 The first received for her year's work $ 1 20. The sec- 
 ond received $54. The necessary expenses of the first for 
 dress, etc., was $40, leaving $80 clear gain. The second 
 paid three months' board at $9 per month, and the bal- 
 ance of all she received for clothing and other necessa- 
 ries. So that while they were working together they 
 received the same money ; but from the way in which 
 each was valuable or agreeable to the employers dur- 
 ing the time of the next year one received $80 more 
 than the other in cash profit, and got $13 more in cloth- 
 ing and necessaries. 
 
 Each of the girls was twenty years old at the end of 
 the year when they worked separately. Let us look what 
 this $80 will accumulate to, if put in a savings institu- 
 tion and improved at compound interest at six per cent, 
 when she arrives at fifty years of age. By consulting 
 tables it will be found that it will amount to $469.40, as 
 being the difference of action of two servant girls in the 
 
How to make Money. 29 
 
 same house receiving only $7 per month. If she had ac- 
 cumulated the same amount of $80 each year till she was 
 fifty years old, the tables on thirty years, page , shows 
 that it would amount to $6,329.47, the earnings being 25 
 cents per day for 313 working days. 
 
 The two cases cited are among the lowest classes of 
 labor ; and now, for the purpose of a higher illustration, 
 let us take the instance of two clerks in a wholesale dry- 
 goods establishment. Both were salesmen, and receiv- 
 ing $1,500 per annum. The one did all that was gene- 
 rally required of salesmen, was regular, registered and 
 made his sales as he should do ; and no objection could 
 be found in the way of doing his business, and his em- 
 ployers were satisfied with him, and he was worth to them 
 the amount of his salary. But he was not interested, nor 
 did he look to anything further than his own particular 
 department, nor did he make any special effort to gain 
 custom for the house, or keep an eye out to the general 
 run of the business. The other, on the contrary, was 
 always busy late and early, had something more to do 
 when all had left, and was always found in the store 
 among the first in the morning ; was constantly reaching 
 out to get trade and new customers, and keeping an eye 
 on everything that transpired ; was never prying, but al- 
 ways aiding any one when he could, and keeping every- 
 thing in order as far as possible without interference with 
 the affairs of others ; made himself, by his agreeable and 
 pleasant manners, popular with customers, and with all 
 those engaged in the house, and by such a course was 
 felt from cellar to garret. Which of these two young 
 men for they were both twenty-three years of age 
 earned during the year the most money ? .We will see. 
 A neighboring house having lost their principal salesman 
 
30 How to make Money. 
 
 by death, and having heard of, and knowing by sad expe- 
 rience the loss of valuable customers enticed away by 
 this active, winning salesman, they at once applied to 
 him and offered him $2500 a year if he wished to leave 
 his present house. Of course so good an offer was not 
 to be passed unnoticed, and he broached the subject to 
 the members of the house in which he was employed, and 
 asked if they had any objection to his accepting the offer. 
 To which they replied, " We will consider the matter, and 
 let you know in a day or so." 
 
 This fact drew the attention of the firm to investigate 
 the sales made by this young man, and it was found that 
 he had brought a large amount of custom to the house, 
 and of all he had sold, no bad debts had resulted. They 
 came to the conclusion that he was more valuable to 
 them than the salary of $1500 ; and said at once, "We 
 will make your salary hereafter $2500 ; " and so he re- 
 mained, and continued to exert himself still more. 
 
 Now let us inquire into the financial condition of these 
 two salesmen. The one spent all his salary, for he had 
 more time on his hands about town, and less to interest 
 him than the other ; while the other took lodgings near 
 his store, seldom went anywhere, and read most of his 
 time while he was not calculating and figuring about his 
 business. The result was that he spent $500, and saved 
 $1000 of his salary. The next year, when he received 
 $2500, he spent the same, while the other salesman spent 
 all he received as before. 
 
 It becomes interesting here to make a calculation on 
 even these low figures. We will make it for two years. 
 The one had nothing to lay to the good the other had 
 $3000 at the end of two years, or when he was twenty-five 
 years old. This, put at compound interest at seven per 
 
How to make Money. 31 
 
 cent, for twenty-five years, or until he was fifty, would 
 amount, as shown by tables, to $16,290, or, if he had con- 
 tinued to do the same thing yearly namely, gain $2000 
 until he was fifty years of age it would amount to 
 $131,952 ; a snug little fortune on comparatively very 
 small earnings. 
 
 From these few examples, which can be adapted to any 
 conceivable case, after an examination and study of the 
 tables it will be seen where the fountains of wealth lie. 
 By reflection, the necessary qualifications are made appa- 
 rent how the most money can be made by increasing the 
 value of the labor. The general principles which result 
 can be stated to be 
 
 First. Be polite, civil, agreeable, and never fail to 
 make every one you come in contact with interested in 
 yourself and what you are doing. 
 
 Second. Do what you have to do for another so that 
 he may feel that you are working for his interest. 
 
 Third. Do what you have to do in the best way pos- 
 sible, and endeavor to improve on every repetition. 
 
 Fourth. Be honest, candid, dignified, and social. This 
 inspires confidence and increases character, reputation, 
 and influence. 
 
 These are a few of the items necessary to reach the 
 fountains of wealth, and to observe them is a sure means 
 of making money ; to neglect them is a sure way of 
 losing your opportunity to do so, and will inevitably 
 
 result in loss. 
 
 2 
 
32 How to make Mofiey. 
 
 CHAPTER IV. 
 
 LABOR AND ITS REPRESENTATIVE MONEY. 
 
 Wade through definitions. Labor, money. Most valuable, most 
 money. Skill controls. Great lesson of life. Skill and natural 
 ta6t. Neutral minds. Skill acquired. Make labor valuable. 
 Male and female. Employment only necessary. Labor repre- 
 sented by money. Machinery of life. Unit of action. Agri- 
 cultural labor. Allegory. Illustration of values. Natural 
 products and implements. Exchanges. Barter. Labor di- 
 vided. Results beneficial. Commerce established. Labor 
 compared. Most skill most value. Working of commerce. 
 Profits resulted. Credit wanted. Trade from necessity. 
 Worked well. New avenues. People pleased. Representa- 
 tion of value wanted. Lucky digging for silver. Fits the case. 
 Trouble worked out. Ships built. Rowing and paddling. 
 Ingenuity sails. Against mind. Delighted. More ships. 
 Allegory ends. Varieties of labor. "Dollar made, dollar saved. 
 Intellectual and manual labor. Confines of barbarism and 
 civilization. Combination. Capital. First lesson. Money 
 values. Aim of life. Little attention. Carping. No extreme. 
 Light. Say it. Better people Narrow-minded philosophy. 
 Choose for yourself. Hoarding condemned. 
 
 It is unfortunate for a reader who takes up a book with 
 the idea of finding interesting matter within its pages, to 
 be compelled to wade through two or three chapters of 
 definitions. But the one who expects to gain information 
 must at least expect to be taught the meaning of the 
 terms in which the information is to be conveyed. The 
 meaning of the term labor, is no doubt well understood 
 by many ; and that money is its representative, is equally 
 well known. But to the money-maker who expects to 
 use labor as the means of procuring it, he must be made 
 aware that there are various kinds of labor, and the same 
 
How to make Money. 33 
 
 kind varies greatly in quality, and that some kind of 
 labor commands more money for the same time than 
 other kinds, and that the better the quality of labor the 
 higher price it will secure. 
 
 A hod-carrier cannot obtain the wages of a mason, 
 although they work at the same general business ; nor 
 can an apprentice, or a poor mason, command the pay of 
 a skilful one, although they are each masons. It is 
 apparent, without a lengthy argument or illustration, that 
 labor is valuable just in proportion to its quality, and in 
 this respect does not vary from any article of merchan- 
 dise, or of purchase and sale. As labor, too, is the only 
 means by which value can be created, the rule of its 
 quality extends from the simplest form of labor to the 
 most intricate. The man who handles the shovel can 
 display skill over another who may have equal strength 
 and as good a tool. One banker may in like manner use 
 more skill than another banker having like opportunities 
 and equal capital. One merchant, with small means and 
 poor opportunity, may far outstrip another in making 
 money who may have larger means and a far superior 
 chance. 
 
 This difference in the quality of the same kind of labor 
 is called skill, and is a controlling feature in fixing the 
 value of labor. It is a general guarantee of success in 
 life, or in the business in which it is displayed. It ele- 
 vates its possessor above his tradesmen or peers, and 
 makes his labor always in demand. It is an advertise- 
 ment in his business and an endorsement of ability be- 
 fore the public. It applies equally to all descriptions of 
 labor without an exception, and is a controlling quality 
 in the choice of a purchaser when known. 
 
 If you wish a mechanical job done, you will employ the 
 
34 How to make Money. 
 
 best man you know, by which is meant tne most skilful, 
 and the one who will take the least time in which to do 
 it, and hence will cost the least money. If you wish a 
 physician, or a lawyer, if the case be worth it, and you 
 are able to pay the amount charged, you will procure the 
 best one that you know. If you wish to have a lot of 
 goods purchased by a broker, a commission merchant, or 
 any other expert, you will employ the one who is the 
 most skilful in the market. If you wish a draft collected 
 in foreign parts, you will employ the best banker. If 
 you want your property insured, you will employ the 
 best broker, for he is supposed to know the best com- 
 panies. 
 
 There is no exception to the rule that he who is most 
 skilful commands the readiest employment, and hence 
 it is that every one desirous of making money should 
 fully understand what this skill is. When they shall 
 apprehend what it is, they should then be informed how 
 to obtain it. This is the great lesson of life, and upon 
 its being well or imperfectly learned depends the proba- 
 ble success or failure of the individual. It applies with 
 equal force to the female as it does to the male. The 
 female has within her reach in like manner the power to 
 make herself independent, and still preserve the delicacy 
 of her sex. Let no female, then, shrink from the task of 
 making herself skilful in her avocation, whether it be in 
 the gilded halls of fashion, the more modest one the 
 recipient of admiration, or the humbler one of the opera- 
 tive, or the climax of female hopes the matron or mother. 
 Skill will tell in each and every department of female 
 life, and the success of such will measurably depend upon 
 this cardinal of advancement. 
 
 Natural skill is the adaptation of natural tacl to acquired 
 
How to make Money. 35 
 
 knowledge. Natural tact is the natural bent of the mind. 
 Some minds are mechanical, some calculative, some 
 imaginative, some ingenious, some shrewd, some appa- 
 rently neutral, displaying all qualities alike ; some evincing 
 a predominance fitting them for one department of life, 
 and some for another. In the choice of employment it 
 is useless to say that each individual would do well to 
 follow the natural bent of his mind, which would give 
 him tact in his business, and that would tend to give 
 him skill. Skill may be obtained in any department of 
 life by perseverance and industry, without the presence 
 of natural tact. It is hence so much easier to accom- 
 plish, and the labor generally performed so much more 
 agreeably and pleasantly that every person should, as far 
 as practicable, follow the natural bent of his mind in 
 the selection of business. This is well to know when the 
 individual is free to choose ; but many persons are 
 thrown into employments accidentally, and in such cases 
 their success may be aided by natural tact and may not. 
 
 Skill, whether natural or acquired, is the great guaran- 
 tee of success in business of any kind. There may be 
 partial or limited success, or through circumstances, a 
 splendid success by the greatest blunderer ; but the excep- 
 tion does not detract from the value of the rule. Those 
 who look to these exceptions for a road to lead them to 
 the temple of fortune will wear away their lives in poverty 
 and disappointment. 
 
 Skill is to be acquired by knowledge and experience. 
 A chapter could be written on the qualities of mind of 
 persons desirous of obtaining a fortune, in order to give a 
 full explanation of the knowledge and experience required 
 for that end, and what skill does in various occupations. 
 It is only necessary to speak generally of it here, in order 
 
36 How to make Money. 
 
 to explain the meaning of skill, to show the value of dif- 
 ferent qualities of the same kind of labor. The more 
 knowledge a person possesses respecting his occupation, 
 the more modes he understands of doing the same thing, 
 and he is enabled to choose the best. If, however, he 
 has never tried either mode, and does not know that it has 
 been tried by others, he is wanting in experience as well 
 as in knowledge, and he is as likely to do it to a disad- 
 vantage as he is to do it in the best and most skilful way. 
 Knowledge may be obtained by reading, or orally, or by 
 personal experience, and the greater such may be, the 
 more skilful, as a general rule, is the laborer, it matters 
 not what kind of labor he is performing. 
 
 The money-seeker must then understand that to be 
 the most skilful in his kind of occupation, it matters not 
 what it may be, is the first and greatest step towards 
 making money. To be simply satisfied with knowing 
 how to perform his vocation, may give him the means of 
 a comfortable living ; but if he wants more, he must in- 
 crease by skill and knowledge the value of his labor, and 
 he will have no difficulty in finding a ready market for 
 it ; or, as will be seen in a future chapter, must econo- 
 mize his earnings and deny himself everything except 
 the bare necessaries of life until he shall have saved by 
 this means what he fails to make by skill in his business. 
 For let it be remembered that there is no male or female, 
 with able body and sound mind, who can gain employ- 
 ment, that cannot in time make himself independent of 
 manual labor, or independent of the labor of his voca- 
 tion. 
 
 Employment is all that is required, and that is to be 
 obtained by having a knowledge of what you undertake. 
 Skill will prove the way in which the labor will be accom- 
 
How to make Money. 37 
 
 plished for a profitable end, as a general thing. Misfor- 
 tune may overtake the most skilful. This should not pre- 
 vent the effort to obtain skill and superiority, but should 
 act as an incentive to prepare beforehand for such con- 
 tingencies. This must show any one in search of money 
 that labor is the only sure mode of obtaining it. Now 
 it must be shown how labor can be represented by money. 
 The representation of labor by money depends upon the 
 relative value of the different kinds of labor ; that is, the 
 relative exchange of one labor for another of a different 
 kind. And in order that the money-maker may under- 
 stand the principles upon which his labor is valuable in 
 money, and why money will release him from labor, it is 
 necessary to show him how his labor can be represented 
 by money in the first place, and then show him how he 
 can command the labor in like manner of others, or how 
 he can supply his wants with money without labor. 
 
 The machinery of life, to the casual observer, seems 
 confused and uncertain. He looks around him and sees 
 such a variety of trades and occupations such a swarm- 
 ing of people in cities such worlds of nations all moving 
 together in harmony of life that, it amazes and surprises 
 him. But let him once get the unit of this combined 
 action, and it all reveals itself as simply as the confused 
 crowd of figures in the multiplication table was revealed 
 to his youthful wondering eyes when he became aware of 
 the use of the unit in figures. 
 
 Agriculture was the primeval representation of labor, 
 whether that labor was performed by gathering the 
 natural fruits of the earth or by a successful endeavor to 
 reproduce them in kind. The effort to reproduce them 
 required, as we well know, the turning up and the 
 smoothing down, and the general working of the ground. 
 
3^ How to make Money. 
 
 i 
 It matters little whether this labor was performed by one, 
 by two, or by a nation in this manner ; there was a time 
 when some rude instrument was used by the agriculturist 
 to supply the place of hands to upturn the earth and 
 work it. We will pass by all anterior modes of inter- 
 changes between these primeval agriculturists, and 
 assume the point when they found it convenient or 
 necessary to use implements in tilling the ground ; and 
 here the allegory explaining the machinery of society as 
 it now exists begins. 
 
 There was in the far recesses of the past a community 
 of agriculturists, and they occupied quite a territory of 
 land productive and beautiful to behold. They gathered 
 the fruits which overhung the land, and lived and in- 
 creased in numbers. The natural products being insuffi- 
 cient to supply such numbers, and seeing that seeds grew 
 and produced, they turned their attention to planting the 
 seeds in the ground, and they were rewarded with a 
 harvest. They found that digging in the ground with 
 their hands and with sticks was a slow and tedious pro- 
 cess ; and an ingenious man conceived the idea of making 
 a hoe, a rude construction to be sure, made of stone, and 
 a hole in it for a handle. He was enabled to do as much 
 with his hoe as four or five would do with their hands 
 and sticks, and this his neighbors saw, and endeavored 
 to follow his example and make a hoe for themselves. 
 So the inhabitants all set to work to make hoes ; but 
 when they went to get the stone out of which to make 
 them, some had, and some had not, the right kind of mate- 
 rial ; and the result was, some succeeded and some did 
 not succeed in accomplishing their object. 
 
 Here was a spur to those who could not make hoes to 
 get them in some shape ; and the idea occurred to them to 
 
How to make Money. 39 
 
 get the man who made the first hoe, and who had plenty 
 of material, to make for them also. So application was 
 made by a near friend to the hoe-man to make a hoe ; and 
 being a good-natured and obliging fellow, he consented, 
 and made his friend a hoe. Another and another did 
 the same, till the man found he had no time for anything 
 else, and finally had nothing to eat. " This will not do," 
 said he ; " I must have something to live on, even if I 
 disoblige my friends ; " and revolving the thing over in 
 his mind, an idea occurred to him. Said he to himself: 
 " If I spend my time in making hoes for my neighbors, 
 why should they not spend their time in raising grain for 
 me ? " After reflecting on the thing for a few days, he 
 determined to make a stand, and not make any more 
 hoes ; and assigned as a reason that he had nothing to 
 eat, and must go to work and raise something. 
 
 The man's neighbors, for whom he had made hoes, 
 saw at once the injustice of taking his time and leaving 
 him to starve. So each one made up in products just 
 what they thought he might have earned at agriculture 
 and a little more on account of his having the material 
 out of which he constructed them, and sent the amounts 
 respectively to him. Of course the man was pleased, and 
 at the same time amazed at the accuracy with which each 
 one had judged with the other the amount to be given 
 for each hoe. The man reflected upon it for some time, 
 and said to himself : " I have more products given me 
 for my hoes than I could have raised out of the earth in 
 the meantime in making them ; and instead of being just 
 as well off as my neighbors, behold I am better off, and 
 have a surplus." The man determined at once to make 
 more hoes, and give notice to those whom he had re- 
 fused that he would make for them, and take grain in 
 
40 How to make Money. 
 
 payment therefor. The man was driven very hard to 
 supply all with hoes who wanted them, and the grain 
 poured in so fast upon him that he could not consume it. 
 
 About this time it was rumored, that a man living at 
 a distance had made some cloth out of bark in a very 
 peculiar way ; and the people in that vicinity found in 
 like manner as with the hoe, that they could get this 
 cloth for grain ; and although the cloth they made them- 
 selves answered their purposes very well, still this other 
 cloth was handsomer and suited their tastes and fancies 
 better than their own. The result was, that the cloth- 
 man had very soon more to do than he could well attend 
 to himself, and was overstocked with grain. A man 
 who was an agriculturist, and also an ingenious man, 
 knowing this state of things, went and proposed to the 
 cloth-man to leave his agriculture and join him in mak- 
 ing cloth. The cloth-man was pleased to have some one 
 to help him, as he had more to do than was agreeable, 
 and at once consented to let the agriculturist join him. 
 
 And they commenced working together. But they 
 had not worked but a day or so on the cloth, when it 
 became apparent that the one did twice as much as the 
 other, and twice as well. This did not at first seem to 
 make much difference, as the one was delighted to have 
 some one to help him, while the other was equally de- 
 lighted, and expected to get as much grain as the one 
 who had worked at the cloth so long. They both worked 
 "on very well satisfied with each other, the neighbors 
 bringing in products every day or so, and taking away 
 some of the cloth. It soon became apparent that they 
 all preferred the cloth of the Original Jacobs, and the 
 agriculturist's cloth was left on hand. This did not seem 
 to make any difference, till one day they had none of 
 
How to make Money. 41 
 
 Jacob's cloth, and they wished a customer to take some 
 cloth made by the agriculturist. " Well," said the custom- 
 er, " if you have none of the other J do not care for this, 
 for we can make as good as that ourselves." And so the 
 man went away and would not leave his grain. Then they 
 tried with others to exchange the agriculturist's cloth 
 for grain, but with no better success ; and they were 
 both exceedingly unhappy, and did not know what to do. 
 As the hoe-man had heard of the cloth made at a dis- 
 tance, and had seen some worn by a traveller who had 
 passed his way, and also heard that the man would take 
 grain for his cloth as he had done for his hoes, after 
 thinking the matter over for some days, he determined to 
 have some of the cloth. The next thing occurred to his 
 mind was to know how he was to get it, and how he was 
 to get the grain so far. He mused upon it for some 
 time. Said he : " If I go myself and carry my grain, it will 
 take me certainly, six days. In that time I can make ten 
 hoes that will bring me ten measures of grain, and they 
 say I shall be obliged to give the cloth-man ten measures 
 more for what I want. So when I get back, my cloth will 
 cost me twenty measures of grain. Let me see ; I know 
 a friend going that way, and possibly he would take my 
 grain and get my cloth. I will see him about it." He 
 had scarce ended the sentence when his friend came in 
 and began to speak of this same cloth, and told the hoe- 
 man that he was going to make a journey there to get 
 some of the cloth. " And," said he, " a traveller who has 
 passed this way told me that he heard a man say, who was 
 an agriculturist near by the cloth-man, that they had heard 
 of your hoes over there and wanted some ; but it was too 
 far to carry the grain, and they had not come for them, 
 Now an idea has occurred to me to carry some of these 
 
42 How to make Money. 
 
 hoes over there and see if I can get grain for them, and 
 then the grain being on the spot, I can easily get the 
 cloth what do you think of it ? " 
 
 "Well," said the hoe-man, "I see no objection to it 
 whatever. And another thing, Mr. Commerce (for that 
 was his name), I want some of that cloth myself, and as 
 you are going there, could you get some for me also ? " 
 
 " Certainly," replied Mr. Commerce, " I would willingly 
 oblige you ; but I cannot carry either grain or hoes enough 
 to get there and back in a week's time, but will do it as 
 quickly as I can." 
 
 Now the hoe-man was a good, honest, and clever soul ; 
 and although Mr. Commerce was ready and willing to 
 oblige him, and get his cloth and carry his hoes without 
 compensation, he would not make ten measures of grain 
 or ten hoes out of his, Mr. C.'s, labor without compensa- 
 tion, for he had had a taste of that himself. So he told 
 Mr. Commerce what it would cost him to go, and frankly 
 offered him the ten hoes or ten measures of wheat if he 
 would bring back the cloth with him. Although Mr. 
 Commerce had the reputation of being very shrewd and 
 cunning, yet he had wisdom enough, and principle 
 enough, too, not to extort from the hoe-man more than 
 was fair, and he said he would take the matter into con- 
 sideration. In a day or so he called again on the hoe- 
 man, and in the meantime he had seen one of his neigh- 
 bors who had heard of this same cloth, and who also 
 wanted just as much as the hoe-man wanted. Mr. Com- 
 merce, being a calculating and really a shrewd man, said 
 to himself : " If I can make something from the hoe^-man, 
 and something from my neighbor, who knows but what I 
 may make enough to get my cloth for nothing ? " The 
 idea stimulated him greatly, and he went about to see if i 
 
How to make Money. 43 
 
 some one else did not want this cloth also, for they had 
 all by this time heard of it. He was well rewarded, for 
 very many who had raised more grain than they could 
 use, because their new hoes had helped them so much, 
 were anxious to get this cloth, and more particularly 
 since they had heard the hoe-man was going to get 
 some. 
 
 The result was, that Mr. Commerce began to count 
 up, and found that if all were supplied it would take all 
 the hoes the man had, and it would be utterly impossible 
 for him to carry so many. So he set his wits to work to 
 see how he could carry them, and finally hit upon an 
 expedient. He conceived the idea of tying the hoes 
 together, and balancing them across the back of an ox r 
 and driving the ox before him to the distant land. The 
 plan was divulged to the neighborhood, and all seemed 
 much pleased, because it amounted to a contraband for 
 each one to go separately. 
 
 An unexpected trouble occurred at this juncture, not 
 thought of before by Mr. Commerce, and entirely new 
 to the hoe-man. It now occurred to Mr. C. that he had 
 not grain enough to give for the hoes, and how to arrange 
 that matter he did not plainly see. So he went to the 
 hoe-man, told the whole story to him, and, being a sen- 
 sible man, he said : " As you will return in a week, and 
 as I have these hoes on hand, and have grain enough to 
 last me some time, and, to tell you the truth, I cannot 
 just now take in so much, but will be able to do so by 
 the time you return, you can take the hoes, and when 
 you do return with the cloth our neighbors can bring in 
 the grain. If this is satisfactory to you, it is so to me." 
 
 It is needless to say the parties perfectly agreed with 
 each other, and the entire arrangement was carried out, 
 
44 How to make Money. 
 
 and all arrived safely at their destination. Mr. Dimity 
 and Mr. Headlong, for these were the cloth-makers, had 
 in the meantime been thinking over the quandary in 
 which they had placed themselves. Mr. Dimity had 
 none of his own cloth, and none on hand except that 
 made by Mr. Headlong. They were talking this matter 
 over when Mr. Commerce arrived in the country. Pie 
 left his ox some way back upon the road in a little grove, 
 and, tying him to a tree, placed some food before him, 
 and started for the abode of Mr. Dimity with one of his 
 hoes. After a few passing remarks, Mr. C. inquired of 
 Mr. Headlong, for he happened to speak to him first, 
 " if he was the maker of certain cloth, which was con- 
 sidered very good ? " To which Mr. Headlong replied in 
 the affirmative, and showed him such as he had made. 
 
 " The cloth suits me," replied Mr. C. ; "what do you ask 
 for it?" and the price named was just what Mr. C. had 
 supposed it would be. " Whether I take any or not will 
 depend upon whether you can take what I can give you 
 in return for it," said Mr. C. " I have here a hoe, an 
 agricultural instrument, by which much more grain can 
 be raised by one person than with the bare hands and 
 sticks," said Mr. C. 
 
 " I have heard of that instrument," said Mr. Headlong, 
 "and some one of my neighbors was saying that he 
 wanted one, as he had heard them spoken of very highly." 
 
 " You can try it, and see how you like it ; and if you 
 do, then I will make you a proposition/' said Mr. C. 
 The result was that Mr. Headlong was pleased with 
 the hoe, and regretted much that this was the only one 
 Mr. C. had brought, as he had seen several who were 
 anxious to procure one. The price was asked, and Mr. 
 C. stated, " that they sold where they were made for ten 
 
Hozv to make Money.. 45 
 
 measures of grain, and it could not be expected to bring 
 them so far and sell them at the same here." 
 
 " No," replied Mr. Headlong, "I will willingly give you 
 equal to fifteen measures of grain, payable in cloth, for 
 this one, and if you had more I would take them on the 
 same terms." 
 
 " Your offer is very liberal, Mr. H. How many would 
 you take on those terms ? " 
 
 " All you have," quickly replied Mr. H. 
 
 " Then I will let you have thirty," replied Mr. C. 
 
 " I do not know that I have cloth enough made to give 
 you all of it now, but I will see," said Mr. H, 
 
 The result of the barter was that Mr. C. took back of 
 Mr. Headlong's cloth sufficient to pay for the thirty hoes, 
 and had made the value of fifteen more, and had it in cloth. 
 
 Dimity and Headlong sold their thirty hoes to the 
 surrounding neighbors, and received more grain for them 
 than they could have sold their cloth for. In fact, the 
 people were all so well pleased, and so entirely satisfied, 
 that Mr. Commerce became very popular. So much so, 
 that he finally determined to establish himself midway 
 between the countries, so that he might extend his ope- 
 rations to all sorts of things which were just being intro- 
 duced by ingenuity and labor. 
 
 As the people increased in numbers, and the articles 
 of use became more abundant, Mr. Commerce found it 
 next to impossible to exchange one thing for another, 
 and the people who had been so well satisfied with his 
 management heretofore, were becoming clamorous and 
 uneasy. He found that persons came from a great dis- 
 tance, and instead of bringing their goods along, they 
 were compelled to leave them behind ; for although they 
 were valuable, and would command other things in ex- 
 
46 How to make Money. 
 
 change at that place, their bulk prevented their profitable 
 removal. Finally he hit upon apian by which one could 
 remove, leaving his property behind, and take with him 
 the representative in some small article which could be 
 easily transported. 
 
 Then the question and main difficulty arose, how this 
 representative should be made. It became evident from 
 experience, as in the case of the thirty hoes which were 
 sold for cloth, that what would represent the hoes where 
 they were made, would not represent them where they 
 were sold. So that Mr. Commerce and all the people 
 whom he consulted saw at once that a hoe could not be 
 represented everywhere by anything but itself, and they 
 were still in trouble. As wants began to multiply, sug- 
 gested by the great variety of little things made, and 
 people increased also, every one found it very inconve- 
 nient to barter for these small things, and in many cases 
 the people had to part with more, and buy more, than 
 they wished to do. 
 
 Finally Mr. Commerce, who was an ingenious and 
 very useful man to the people, hit upon a plan which all 
 thought would work well, and be a great benefit to every 
 one. He proposed, that when a person sold anything 
 he should have something to represent the value of the 
 price at which the thing was sold, and the seller should 
 have the right to choose whether he would take other 
 things in exchange, or whether he would take the agreed 
 value, as arranged between the buyer and seller. This 
 seemed to please every one ; but still there was a trouble, 
 and that was, to find something compact which could be 
 used as this representative. Some proposed pebbles, 
 some wood, some bits of leather, and some one thing, 
 and some another. But all such things they found would 
 
How to make Money. 47 
 
 not do, because dishonest people could make any quan- 
 tity of them without ever having had in their possession 
 anything which they represented in value. 
 
 About this time a lucky circumstance for the people 
 occurred. Some men were digging in the rocks in a 
 neighboring mountain, and discovered a metal called 
 silver ; and as they had never seen such a thing before, 
 they labored away some time, only procuring as much as 
 they could hold in their hands. They at once conveyed 
 it to Mr. Commerce to know what it was, and what it 
 was worth, and supposed as a matter of course that he 
 would know all about it. 
 
 " This is a strange thing to me," said Mr. C. ; " where 
 did you get it ? " 
 
 " In a neighboring mountain," replied the men. 
 
 " Is it abundant ? " inquired Mr. C. 
 
 " By no means," said the men ; " we three have labored 
 hard six days each to get what you have in your hand." 
 
 Now Mr. Commerce was a quick-minded man, and his 
 experience had taught him much wisdom. A thought 
 occurred to him, but he did not communicate it to the 
 men, but said to them : " Go back to the mountain and 
 work again for six days, and bring me as much silver as 
 you will all three get, and I will pay you for your labor 
 the same price as though you worked in the field at 
 agriculture." The men were well satisfied and departed, 
 and returned at the end of the six days, bringing just 
 about as much as they had brought at first. Mr. Com- 
 merce paid them for their labor, and seeing that they 
 could get as much for this kind of work as they could 
 for any other, with the chance of finding much silver, 
 they returned to the mountain, and worked on steadily. 
 Other men hearing of this silver, started into other 
 
48 How to make Money. 
 
 mountains, and some did, and some did not, obtain 
 any. 
 
 Mr. Commerce, who was constantly making calcula- 
 tions, kept an account of every day's work that was done, 
 cither in exploring for, or working at, successfully or 
 otherwise, this silver-getting, till he was satisfied that no 
 great quantity of it could be obtained without a corre- 
 sponding amount of labor. It had occurred to him 
 before that this silver might be used as the representa- 
 tive of labor ; but the exact way in which it could be used 
 had not yet occurred to him. So, after a considerable 
 time, he added up all the days' work which had been 
 done at this silver-getting, and set a man to work divid- 
 ing up the silver that had been obtained into just as 
 many pieces as there had been days' work done ; and he 
 was astonished to find how small the pieces were. He 
 then reasoned with himself in this wise : " If these men 
 have worked faithfully, and I think they have, the result 
 of one day's labor is one of these pieces of silver. Now 
 these pieces of silver are small, and easily conveyed ; can 
 we not all agree to make these pieces of silver the stand- 
 ard of labor ? Let me see how that will work. Suppose 
 one man cannot do as much as another, how then ? As 
 for example, suppose one man should do twice as much 
 as another?" And his own proposition seemed to bother 
 him. But he quickly recovered, and said to himself: 
 " No ; this fixing the value of a day's work by a given 
 piece of silver won't do ; because the day's works will not 
 all be alike, nor if alike, will they always produce the 
 same value. My experience teaches me that value is a 
 relative term, and that there is no vahie to anything with- 
 out exchange, or that will produce something to exchange. 
 And, too, I find that the same thing will not always 
 
How to make Money. 49 
 
 bring the same number of days' work, nor is it of the 
 same value. It seems to me, then, that the price agreed 
 upon between buyer and seller, or the result, should in 
 some way be represented, and certainly this is the vahtz 
 of the thing or things at the time and place as agreed 
 upon by the parties. Now if one thing is five times as 
 valuable as another, if we can represent the value of one 
 thing, we can easily represent the value of another. Just 
 as I have learned in figures where one is the unit, and 
 any number of results can be represented by repeating 
 the unit or dividing it. Now if I can only get the 
 people to agree, why not use one piece of silver to be the 
 unit to represent values, or agreed upon results, between 
 buyer and seller, as well as use the unit one a figure to 
 represent the unit of results in figures ? " 
 
 Mr. Commerce was so much elated with the idea that 
 he at once called all the people together, told them the 
 whole story, and asked tjiem what they thought of it. 
 Some thought well of it at once ; others did not under- 
 stand it ; and others had so much confidence in Mr. Com- 
 merce, since they had always found him useful and 
 honest, that all agreed to it in a body. Since then the 
 results of labor and bargains for labor itself have been 
 represented without difficulty. Everybody took their 
 things to Mr. C; and having provided himself with suf- 
 ficient silver for the purpose, was prepared, after they had 
 mutually agreed upon the value of what was sold or pur- 
 chased, to represent the result in silver, and paid over 
 the balance which was found in favor of the seller or 
 buyer. Soon the people had silver themselves, and they 
 would frequently go to their neighbors and get things for 
 the silver, just as they had formerly exchanged with each 
 other. The plan worked so well that the people flocked 
 
50 How to make Money. 
 
 to Mr. Commerce for almost everything, and took almost 
 everything to him, and his business increased so that he 
 was compelled to build ships to carry things from one 
 place to another, and have them rowed and paddled by 
 men. This took away so many men from other pursuits 
 that it became a serious matter, and the people were dis- 
 satisfied because that raised the price of labor. An 
 ingenious man, seeing what was wanted, set to work and 
 made a ship with sails to it, that would go when the wind 
 blew without either being rowed or paddled. After he 
 had it all completed he told Mr. Commerce about it, and 
 asked him to look at it, and go with him in it sailing. 
 They went, and it happened to be a fine day and a 
 pleasant wind, and the ship went right past the other 
 boats filled with men rowing, paddling, and tugging away, 
 much to their amazement, because they saw no oars or 
 paddles, and saw a few people standing upon the ship 
 doing nothing. When the ship turned about to return, 
 and the ingenious man had set his sails so as to go 
 against the wind, Mr. Commerce was amazed, for he had 
 not till then seen the utility of the thing. He thought 
 that it was quite easy to go with the wind, but he had 
 not seen how, it would go against the wind alone. 
 
 Mr. Commerce at once made an agreement for the 
 ship, and purchased it, paying a large pile of silver pieces 
 for it ; more than the man could carry. The ingenious 
 man had more silver than he knew what to do with ; but 
 he went immediately about making others, and the result 
 was the people were delighted, for they saw at once by 
 the explanation of Mr. C. that this invention of sails to 
 the ship gave them just so many more able-bodied men, 
 and increased their total wealth just the value of so many 
 more days' work in the year. 
 
How to make Money. 51 
 
 The entire success of this invention to save labor, 01 
 rather increase it, induced the people to hold out great 
 encouragement, and offer large rewards to any ingenious 
 person who would in like manner make any article by 
 which more could be accomplished with less labor. For 
 the people saw plainly that every day's labor saved was 
 a day's labor made. The result was, that every species 
 of contrivance to save labor was resorted to. A man 
 made a mill to turn by water, which would require an 
 immense number of men to accomplish the same thing ; 
 another made an engine to run by steam, which accom- 
 plished wonders. 
 
 The people, although much pleased with the first labor- 
 saving machines, and aware that they saved the labor of 
 men, soon found that the labor at first saved had a value 
 nearly, if not quite, equal to manual labor ; but as the 
 supply of that kind of labor increased, it diminished in 
 value. The same with the water power and the steam 
 power ; although each was the representative of labor, 
 each had its value according to the demand and supply, 
 just like manual labor. 
 
 The allegory must end here. Enough has been said 
 to show the rise and progress of commerce from barter 
 to the more easy exchange of the wants of high civiliza- 
 tion ; from the first form of manual labor in agriculture 
 to higher labor of motive powers. It has been shown, 
 too, from the allegory, how labor can be compared with 
 labor, and that labor, or its equivalent, gives value to all 
 things, and how the things themselves are compared 
 with each other in value, and a difference obtained as the 
 result, and how that result is represented by money. 
 
 To the money-maker the lesson is not only necessary, 
 but is valuable, in order to show him what money is, and 
 
52 How to make Money 
 
 where to look to obtain it. Nor need he be ashamed to. 
 labor, for whoever has money that he has made himself, 
 has labored to obtain it. There can be no escape from 
 the disgrace, if disgrace it be, to labor and the result of 
 that labor should, perchance, be riches. More and closer 
 than that, even, does the disgrace cling ; the man who 
 has a dollar in his pocket, if not given to him, or not 
 dishonestly obtained, has labored for it, and the dollar, 
 before he came in possession of it, was the repre- 
 sentative of some one's labor. If labor is a disgrace, 
 then to have money is likewise a disgrace. 
 
 Nor can all labor at the same thing. Honest labor 
 makes honest money, and when it finally falls into the 
 coffers of the wealthy, there is no distinction between 
 one dollar and another ; and so there should not be, in 
 any rightly balanced mind, any invidious distinction be- 
 tween one kind of labor and another. All honest em- 
 ployments are commendable ; nor should any one who 
 is willing to be seen spending a dollar, be ashamed to be 
 seen earning one. Education and refinement are what 
 elevate, and make wide distinctions between individuals ; 
 and, generally speaking, the employment is indicative of 
 these possessions. On this account it is that one employ- 
 ment is regarded less or more reputable and more re- 
 spectable than another. This should be so ; for he who 
 arms himself with knowledge, and polishes himself of the 
 asperities of his nature, and is refined and elegant in his 
 manners, commands a higher price for his labor than he 
 who is ignorant and takes no pains to accumulate those 
 qualities. The former has fitted himself for higher duties 
 in life than the latter, and his value as a member of so- 
 ciety is greater to the community, and hence more highly 
 esteemed. In the selection of employments choose 
 
How to make Money. 53 
 
 those, if you can fit yourself for them, in which the com- 
 pensation is greatest, and be assured they will require 
 the exercise of the greatest amount of skill, and the 
 possession of the greatest amount of knowledge. 
 
 The two great natural branches of labor, the intel- 
 lectual and the manual, are never entirely separated. 
 There is no such thing, possibly, as purely manual labor 
 without some intellect, nor is there purely intellectual labor 
 without something of the manual. There is nevertheless 
 that which is denominated manual labor, and that which 
 is called intellectual labor, and the two may be said to 
 bound the kingdom of labor on each confine. Between 
 these two extremes all possible combinations of the 
 manual and the intellectual take place. Upon the one 
 confine it is the lingering rays of barbarism, and upon 
 the other the full, sure light of civilization. Those two 
 hands of labor work in unison to produce the great inter- 
 mediate circulation of the middling classes, and all chime 
 together to make the harmony of society. 
 
 As intellectual and manual labor combined, as is seen, 
 produce such admirable results, there is still another 
 combination of each of them, separately or together, with 
 concentrated labor, that produces still higher and more 
 brilliant results. Concentrated labor is money, or what 
 is usually termed capital. When one man furnishes the 
 capital, and another man does the manual and intellectual 
 labor necessary to manage it, they both really work to- 
 gether, the one with money, the other with labor not yet 
 turned to money. 
 
 Capital is the representative of labor, and is obtained 
 as the profits of labor, or is the surplus of the proceeds of 
 labor over expenditure. The one who expects to make 
 money will soon find himself in the possession of capi 
 
54 How to make Money. 
 
 tal if he is successful. It is regarded by most people 
 as essential to a full and fair start in the world. Be sure, 
 however, that the one who does not know how to make 
 capital will not understand how to handle it safely and 
 successfully if entrusted to him. To know how to make 
 a dollar and save it, is the first lesson of the money-maker, 
 and is generally the key that will lock up safely the for- 
 tune. This, if it be no more than a dollar, is capital ; 
 small to be sure, but yet it is capital. 
 
 When Mr. Commerce wanted to take the hoes of the 
 manufacturer if the latter had refused him the credit, then 
 would have been the time to use capital. For Mr. C. 
 saw that he could make by the operation ; and if he had 
 paid down for them, there would have been no need of 
 asking a favor of the manufacturer. But Mr. Commerce 
 got on just as well without as he would have done with 
 the money. Simply because the manufacturer had confi- 
 dence in him and that his property was safe in his hands. 
 
 This allowing persons to take property for a time 
 without paying for it, is called credit, and, as has been 
 seen, is sometimes just as good as ready capital in order 
 to accomplish the objects of trade. If one carpenter 
 bonows the tools of another and uses them, he has bor- 
 rowed and used capital, and in just as complete a manner 
 as though he had borrowed their market value in money 
 and used it for the same time. Capital may be in money, or 
 it may be in money values ; in either case it is the repre- 
 sentative of labor, and its name is generally taken to 
 signify money or money values, owned by the possessor. 
 
 These definitions and explanations are all deemed neces- 
 sary, in order to expose the foundations of wealth and show 
 what it is, and on what its getting and possession de- 
 pend. If money is of no value to supply wants, then it 
 
How to make Money. 55 
 
 is of no value as a source of comfort and pleasure, and 
 can offer no inducement to the seeker after fortune. 
 
 To explain to him how money comes, what it is, and 
 what it will do, is quite as essential as to point out the 
 mode of procuring and the mode of keeping it. 
 
 To procure money is the object of the entire toiling 
 world. It has been a source of amusement at times to 
 hear persons condemn the individual who was striving to 
 make an early independence even go further, and say 
 money was not worth the having. Such people are not 
 honest with themselves, for if they had either the chance 
 or the ability to make money, they would be the first to 
 embrace it. Money-making is a duty a political duty. 
 How are our institutions of learning to be kept up, our 
 government supported, our churches filled, our school- 
 houses built, our children brought up, clothed, and fed, the 
 aged supported, the cripple aided, the helpless widows 
 and orphans cared for, without money is made by some 
 one ? And if the money-maker has the disgrace of doing 
 all this, then such disgrace be our lot, and the lot of 
 those whom we wish to instruct in money-getting and 
 money-saving, for these purposes, and thousands of others 
 equally worthy. 
 
 There is no subject in the whole range of life that has 
 received so little attention from the pens of writers as 
 this. Piles on piles, nay thousands on thousands, of 
 books have been written to display profligacy, vice, and 
 ruin, while scarce any have been put forth to urge men 
 to save instead of spending their substance. Education 
 of every sort and kind, from science to spiritualism, is 
 rampant in the land through tall edifices, dotting every 
 acre in our cities, and every town in our country ; yet not 
 comparatively a word is breathed to the youth or to the 
 
 3 
 
$6 How to make Money. 
 
 middle-aged to educate them how to get and how to save, 
 or how to use labor and knowledge to the best advantage. 
 The teacher will toil with his pupil for days and weeks 
 to show him the intricate points of a mathematical 
 problem which shall calculate wealth when made, and 
 show him by great labor where he will make his own 
 error when he attempts it unaided ; but not one lisp will 
 he utter to tell him where the leak will probably be in his 
 finances, which, if not guarded, will consign him early to 
 poverty, and later to the poor-house. 
 
 This book will probably be met by the press and some 
 carping individuals, as most books of this nature are, by 
 the accusation that it tends to degrade the human heart 
 to money-making to make the young mean and the old 
 miserly. To all this there is but one answer. You must 
 not educate physicians, because they may give too much 
 poison ; you must not educate in oratory, for fear of 
 the bronchitis or overstrain of the lungs ; you must not 
 educate in religion, for fear of making bigots ; in truth, 
 you must not educate at all, for fear the pupil will run to 
 extremes. Mean and miserly people are uniformly those 
 who have not been educated or brought up in the light 
 of knowledge, but who know just enough of money not 
 to know its real use. 
 
 Let the complaining individual choose between two 
 estates the fear that his son or daughter might be mean 
 with money, or poverty and dependence on the charity, 
 and live on the earnings of some other individual. This 
 will test the reason and the soundness of murmurings 
 against a work on educating either the young or the old 
 in the art of making or saving money. Let it go to the 
 extreme even on both sides, that they absolutely are 
 mean and miserly, and in possession of a competency, or 
 
How to make Money. 57 
 
 are in poverty, subject to the cold charities of the public 
 authorities. Which do you choose ? If you are truly 
 honest it is not difficult to make an answer for any parent 
 or friend. 
 
 If there can be one ray of light shed by any one upon 
 this subject to make the young or the old economical, 
 saving, and. prudent of money, let it shine ! If one in- 
 centive can be urged by eloquent language, or attractive 
 and bewitching pictures of the future, to nail the well- 
 earned dollar in safety for the hour of need, let the words 
 be spoken, and the pictures be stereotyped. If anything 
 can be done for the young to arrest profligacy, and 
 thence choke out vice, let no man complain even at the 
 risk of not fully educating here and there one who may 
 become mean or even miserly. If any book can be 
 written which will show to any class of people how to be 
 more prosperous, how to increase in means, how to avoid 
 losses, how to avoid reverses of fortune, how to live better 
 and happier, how to be free from charities, and finally 
 how to become better citizens' and better members of 
 society, let the book be printed and spread broadcast 
 over the land. 
 
 Let no narrow-minded philosophy meet it in the way, 
 and say " hold ! " Let no carping lips say, " You will make 
 misers of our children ; " but let them read not one 
 thing only the way to save but let them read the way 
 to make money also the very lesson which every parent 
 wants early put in practice upon his striving child. It 
 is a false philosophy which pretends to despise money- 
 making, but a true philosophy which condemns in un- 
 measured terms the hoarding of riches. 
 
53 How to make Money. 
 
 CHAPTER V. 
 
 THE SEEDS OF FORTUNES. 
 
 Parental cares. Obligations. Affections. Visions of the future. 
 Ambitions. Education. Most important neglected. Married 
 life. Ignorance. Company. Like stripe. Break up. Yard- 
 stick. Bare subsistence. New start. Ship. Not a mariner. 
 Storm. Shipwreck. Questions. Inexperience does all. 
 Testators. Lifetime. Parental anxiety. Cause of early fail- 
 ure. No business education. Embryo merchant. Suddenly 
 gifted Swim, my child. Must learn first. Unnatural mothers. 
 - Purchasing without knowledge. At twenty-one, eleven years 
 a merchant. Calculations. Astonishing result. Free from 
 charity. Seeds of fortune. Early sown. Children's business, 
 Learns how. Great epoch. Starts to trade. First bargain. 
 Success. Rules of action. Time consumed. First dollar 
 nailed. Spur to action. School and collegiate education. 
 How managed. Figures. All can. Settlement on children. 
 Easy. Useless expenses. Large amounts. Table. How 
 to get increase. Conversation. Rubbing out values. Bank 
 bills on your back. Big loss. Take care. Worldly goods. 
 Independence. Future. No poverty. 
 
 "Just as the twig is bent the tree inclines." Parents 
 seldom reflect: how much responsibility is thrown upon 
 them in the rearing of a child. First, they are bound 
 by affection and by the law, to provide food and clothing 
 for them, and are responsible for all their depredatory acts. 
 Night and morning, day in and day out, they watch over 
 and provide for their wants. The midnight hour sur- 
 prises the mother in some pleasant task for her young, 
 some little thing which the business of the day crowded 
 out of its legitimate place. And thus the days, and even 
 the years roll away, and as the youth grows the cares 
 continue, and never cease. 
 
 / 
 
How to make Money. 59 
 
 Late and early the child is watched to keep it out of 
 harm's way, and then its education begins. The usual 
 religious devotions are lisped over night and morning, 
 and in more mature speech scraps of the Catechism are 
 repeated orally, and at last the herculean task of learning 
 the alphabet is crowded upon the child's memory. The 
 task is accomplished ; the child is promising, is smart, 
 and is rather uncommon. Bright visions of the future 
 light up in the affection of the parents as they follow in 
 their mind's eye the gallant young man of twenty-one, 
 captivating crowds of admiring young ladies, or taking 
 the first honors in some high institution of learning, and 
 just about entering upon the path of life which will lead 
 him to honor, wealth, and possibly glory ; or a daughter, 
 whose fair form they see gracing the halls of the princely 
 mansion, or drawing around her dazzling beauty the 
 fashion of the land. 
 
 These visions are varied at any new feature displayed 
 by the beloved offspring. Ambition seizes possession 
 of the hearts of the parents, and they determine at once 
 to crowd the mind of the child with every sort of know- 
 ledge. Teachers are procured accordingly. Music, danc- 
 ing, French, Italian, Latin, Greek, with reading history, 
 geography, arithmetic, and belles-lettres for the daughter, 
 and a like array for the son. The education becomes 
 complete ; the daughter soon enters the round of sqciety ; 
 is admired, is courted, is won, and is married. The son 
 graduates respectably ; either enters a profession, or goes 
 into commercial life. And now begins the effect of an 
 education which is, entirely on a wrong basis, or, rather, 
 the most important thing has been neglected. 
 
 The young lady has married either a man who has 
 just been left a fortune, or is out of his time as a clerk, 
 
60 How to make Money. 
 
 and is ready to go into business on his own account, or 
 some other similar connection ; either of which, under 
 the present system of education, will in a very few years 
 lead to the same result in nine cases out of ten. The 
 young woman being suddenly placed in charge of a 
 house, at once finds that she knows nothing of house- 
 keeping, of the value of a single article of household 
 goods, or what the realities of the world are made of. 
 The young man of fortune, her husband, is worse still, 
 if possible ; he never was inside of a market, don't know 
 the value of a single article of food, and scarcely of cloth- 
 ing, or how to purchase one article for his table. Ignor- 
 ance reigns supreme over the household about all matters 
 except what is denominated a good education. There is 
 money enough, to be sure ; and as for the price of vege- 
 tables and meats, that can be learned very soon so say 
 they. 
 
 The servants are procured, the house is furnished by 
 some one who happens to get the order, and the horses 
 and carriage are at the door. The house is open to com- 
 pany, and the new-married couple are in society. Friends 
 of a like stripe flock around, things run smoothly for a 
 time, the red flag finally hangs out of the window, and 
 the next you hear, the lovely couple have gone to Europe, 
 and in four or five years you may see the rich young man 
 measuring off tape by the yard in some shop that sold 
 him his dry-goods. This is not an overdrawn picture, 
 for the experience of almost every one can recall to mind 
 similar, if not exact, fac-similes of results. If the thing 
 be varied in any way, it may be by the curtailment of the 
 basis of the first start in life, the means spent having 
 reduced the fortune to a respectable living, if not to a 
 meagre support or a bare subsistence. 
 
How to make Money. 6\ 
 
 Whatever may be the circumstances of any who are 
 left with money, not one in a hundred retains the 
 original amount. Depletion is sure to follow, as a rule, 
 even though the desire, the intention, and the effort be 
 to increase instead of diminishing it. The individual 
 who suddenly becomes possessed of wealth by inherit- 
 ance or chance luck, is in the position of a landsman who 
 suddenly finds himself alone on shipboard out at sea. 
 To be sure the ship is there, the rudder is in place, the 
 sails are all bent, and under a fair and moderate breeze 
 he may have skill enough to hold the helm aright, and 
 if he paid but little attention to it, if the ship was in 
 trim, all would go well. Some skilful and experienced 
 hand had accomplished all this, and a moment's reflection 
 will inform the most superficial mind that such skill and 
 experience were not the work of a day or of a year. 
 
 The inexperienced mariner has his inexperienced 
 family on board. From want of attention and care the 
 sails soon become mildewed, and split with the first gust 
 of wind that strikes them; the yards are out of place ; one 
 gives way after another, till weakness prevails in every 
 part of former strength and symmetry. The first storm 
 finishes the rigging, and now comes the danger of total 
 shipwreck. If the helpless and ignorant seamen can 
 reach the land in safety with their lives, they little care 
 what becomes of the floating hull. Nor is the manage- 
 ment of a fortune less difficult to perform in its way than 
 the management of a ship at sea. Ask the captain of 
 such a vessel whether he would place a son of his in 
 charge of such a ship without his having been well 
 grounded in the theoretical as well as the practical 
 knowledge of seamanship ? Ask him whether any de- 
 gree of affection would induce him to thus expose both 
 
62 How to make Money. 
 
 the safety of the ship, and the life of his son ? Ask him, 
 too, what were the probable chances under such circum- 
 stances that the ship, cargo, and souls on board would 
 reach a haven in safety over an ordinary sea-voyage ? 
 His answer would undoubtedly be about the same as it 
 would be, if you asked the head of a banking-house what 
 would be the result of his business 'if entrusted to the 
 management of the youngest and most inexperienced 
 clerk in his establishment. 
 
 Though the case is a clear one, that inexperience in 
 any department of life is conclusive evidence of inability, 
 no thought is bestowed, apparently, by testators as to the 
 ability of the heir to take care of what they are confer- 
 ring. Some there are who do measure all these things 
 accurately in a well-balanced mind ; but the cases are as 
 scarce as the skilful management of money by the inex- 
 perienced. Nor is it always within the ability of the 
 man of wealth to bestow his own money, for disease or 
 death may overtake him, and leave it for the law of the 
 land to distribute. If he has no interest in the persons 
 who are to be his heirs, then he need take no thought to 
 surround them with defences against sharpers, or give 
 them knowledge of the way to manage what has required 
 every moment of his thoughts, and a lifetime of experi- 
 ence to do well. 
 
 Affection prompts the parent to do everything for the 
 child, for his education, as a means of advancement in 
 life. No wish is left ungratified, no money denied for 
 pleasure, no stone left unturned for his gratification. 
 Every want is supplied, even without the asking ; every 
 look penetrated to discern the bent of the unfolding 
 mind ; every action balanced to note progress in know- 
 ledge, and every grace scanned to mark the advance in 
 
How to make Money. 63 
 
 refinement. The argus eye of the parent is ever watch- 
 ful, the heart ever anxious. Time rolls on, and the young 
 girl passes aWay from under this supervision to the cares 
 of her own, and the boy to seek what the parent has 
 heretofore given him. Even in these new conditions 
 everything that devoting parents can confer is still ex- 
 tended to the striving children. They commence to act 
 for themselves, they must purchase for themselves, they 
 must make for themselves, they must find means for 
 themselves, and they must finally manage for themselves. 
 Now let us examine for a moment what education they 
 have received, either at the school or under {.he parental 
 roof, to enable them to enter on these duties. Has the 
 parent or the teacher ever taught them the value of a 
 single article which has supplied their wants, as a part 
 of their education ? True, the child may have heard the 
 cost or price of this or that ; but'has the child ever been 
 systematically taught the business of life while under 
 the care of the parent ? Has the child been placed in 
 the independent condition with respect to supplying its 
 own wants, and carrying on its own business, as it has 
 been compelled to read and learn, for the purpose of 
 using that learning independent of the parent ? Has the 
 child's attention ever been called to the manipulations of 
 life, by the ABC manipulations, in supplying its own 
 wants while under the parental roof? If nt, how can 
 you reasonably expect or ask anything but ignorance, 
 and consequent failure for a time, when they are called 
 upon by the parent to acl; for themselves ? Would you 
 expect the child shall be suddenly gifted with that which 
 all experience tells is the result of great experience ? 
 Would you expect that child to read before it had learned 
 the letters, speak the language before it had uttered a 
 
64 How to make Money. 
 
 sound, or in like manner use, handle, protect, invest, and 
 keep money before it had learned the value of a dollar ? 
 Would you, if you wished to teach him to swim, take 
 him to a precipice and dash him into the water, and 
 carelessly say to him : " Swim, my :hild ! " 
 
 No ; such infanticide would send a thrill of horror 
 through your entire being ; but you do little less when 
 you allow the child of your affection to be launched un- 
 tutored into the turbulent sea of life, where failure, want, 
 poverty, and misery, are less welcome than death itself. 
 Your kindness, your affection, your pride, ruin your child 
 before he leaves the parental home. You first unfit him 
 by his antecedents for business and for the affairs of life, 
 and then wonder why he does not thrive ; and finally, if 
 so lucky he or you may be, after failure overtakes him, 
 you gather him again to yourself, and renurse and re- 
 destroy the little advance he has made. But if circum- 
 stances do not thus favor him, he sinks down in despair, 
 and the winds of fortune drift him to and fro like the 
 withered leaves of the forest. 
 
 This, all this, is generally the fault of the parent. The 
 early days of the child are spent with an uneducated, 
 selfish nurse, and from her its first impressions of cha- 
 racter are received. Among the higher walks of life, and 
 to those especially, these remarks more particularly apply. 
 The mother often cannot afford even to feed the child 
 from her own flesh, but borrows an unnatural substitute. 
 The moment the little creature can talk it is taught to 
 despise everything common, that is, everything that ap- 
 pertains to the realities of life except a love for dress, 
 show, and company. It is unnecessary to repeat the 
 course of education in the nurseries of many of the 
 present day. The absence of all attempts to teach chil- 
 
How to make Money. 65 
 
 dren what will be insisted on in this book shall be 
 taught them, to fit them to become successful men and 
 women, is not now undertaken, even though it be known. 
 
 The following remarks respecting the partial prepara- 
 tion of children while under the parental care or while 
 young, in the knowledge of the affairs of life, apply 
 equally to all, the rich and the poor, the high and the 
 low. The main difficulty which all young persons ex- 
 perience when they come to act for themselves is, that 
 they do not know what to do. If a merchant wished to 
 buy a stock of goods to advantage, how do you think he 
 would succeed if he had never bought an article in his 
 life, nor even been present at the purchase of one ? No 
 trouble at all about purchasing the stock ; that would be 
 simple and easy. He would only have to inquire out 
 who kept this and that thing, and the purchasing would 
 be readily accomplished. He would be just as likely to 
 buy his articles third or fourth-handed, as to buy them of 
 first hands ; and if he was so fortunate as to buy them of 
 first hands, he would be as likely to pay one price as an- 
 other. His first step in merchandizing would probably 
 be his ruin ; and when once his capital is gone, and his 
 credit too, he is worse off than a young man without 
 friends or money. 
 
 The young beginner, without experience in the manner 
 of purchasing, the value of the articles which he is com- 
 pelled to purchase, and the little business which he is 
 forced to carry on to supply his own personal wants, may 
 fail as utterly in his first attempt, and probably would, as 
 the man who undertakes merchandizing without know- 
 ledge. And if such a beginner had no parent or friend to 
 fall back upon and supply the loss or deficiency, the em- 
 barrassment would be about equal in both instances. But 
 
66 How to make Money. 
 
 if the child had been taught at twelve years of age that 
 he was a consumer, and hence might at that early age 
 become an embryo merchant, and had been furnished 
 with the capital used by the parent to begin to purchase 
 what he himself consumed, an education in value and in 
 the actual business of life would have been begun. 
 When that child had arrived at the age of twenty-one he 
 would have been nine years a practical merchant, and 
 would ordinarily have touched the value of every article 
 of consumption sold in the land. And if such business 
 had been conducted with skill and economy, the profits 
 of it over and above what the parent would have expended 
 in the same thing would be a handsome capital for the 
 young man to commence merchandizing upon, or give 
 him a good start in some other business. 
 
 The figures resulting from such a course would 
 astonish the most calculating. The benefits to the child 
 would be enduring ; and at every step in his career, from 
 the day he was twelve years old till he was twenty-one, 
 some practical and useful knowledge would be acquired. 
 Nor would this at all interfere with his general education, 
 except to materially aid him in procuring knowledge. 
 It would make him self-confident, improve his reasoning 
 powers, and increase his thought and calculation. He 
 would from necessity be made to know the value of a 
 dollar, which is the first step towards certainly being in- 
 dependent of charity. This word charity sounds harsh 
 upon the ear, though many who are dependent upon it 
 are not ready to admit the fact. 
 
 The child is supported by the charity, in one sense, of 
 the parent, till he supports himself. The friend who eats 
 your bread and can get bread in no other way, lives on 
 charity. The old who cannot work, and have no means, 
 
How to make Money. 67 
 
 in like manner are the subjects of charity. The I'osition 
 of being the recipient of charity is an unenviable one, and 
 it is more honorable to work at any honest employment 
 than accept this boon. If, then, the young can place 
 themselves beyond the charity of the parent even, they 
 will accomplish a great and good work. But this is 
 scarce expected, except when the parent has not the 
 means to support and educate the child. 
 
 The seeds of a fortune, if sown to grow, must be sown 
 early. There may be those who will find out later the 
 means of managing for themselves so as to accomplish 
 the object. But the earlier the lesson of economy, self- 
 denial, prudence and skill in handling capital, is learned, 
 the earlier it can be put in practice. The earlier the 
 lesson is taught to the child, of the handling and the 
 having of money for the purpose of being out of the 
 humiliating position of dependence, the less fear there is 
 that it will be sought for with an appetite for hoarding. 
 The child must be taught rightly, or the instruction may 
 act like medicine given in over or under-doses. 
 
 There may be objections in the mode laid down here ; 
 but if any should suggest themselves to parents they can 
 vary them at their pleasure. What will be done here 
 must be regarded as simply suggestions, not rules of 
 action. It is then suggested that, if the child is hale and 
 hearty, the age of twelve years seems to be early enough 
 to commence the training in miniature or ABC business. 
 They, both male and female, should then be informed by 
 the parent, that after that day they would be required by 
 their aid, or by the aid of some proper person, to purchase 
 every article of clothing which they were to wear, attend 
 to its making, and perform generally the business of 
 their own. That they were to pay for their subsistence 
 
6S How to make Money. 
 
 to the parent about its cost. That to do this a certain 
 stipend per annum was to be allowed, and a systematic 
 account kept to show the expenditure of every cent 
 and the corresponding amounts received. 
 
 In this way the child will early be taught to figure, 
 calculate, and trade. He will also see the value of the 
 boon of parental care, and be made to appreciate it. Let 
 the amount for his expenditure be ample, and at the 
 same time imperative, and one or two domestic failures 
 will give him a foretaste of heavier ones in after years. 
 Let him understand, "too, the disgrace of failure put 
 him in Coventry and curtail his privileges, and make him 
 feel early that to go beyond his depth and exceed his 
 right, is morally wrong, as well as personally disgraceful. 
 Make him understand the moral and legal obligation of 
 his contract, for he will readily accept the offer to have 
 the stipend and make his own expenditures. Such is 
 human nature, even in its earliest stages, that responsi- 
 bility creates self-respect ; and such an offer to a boy or 
 girl will be as great an epoch in their history as the 
 day when they legally are beyond the control of the 
 parent. 
 
 The difficulty in such an arrangement is that the pa- 
 rents will be the first to give out. At first the idea may 
 strike them favorably ; but the trouble will be too great, 
 and they cannot see the effects of a different course. 
 Though if one parent will take the trouble, and will per- 
 severe to the end, and the result shall be one child edu- 
 cated rightly in his business habits, the book will do 
 good, and the instruction is not in vain. 
 
 " And now, my young man, I am going to take you to 
 purchase the first pair of shoes you ever bought ; and as 
 we go along we will have a talk together. You know 
 
How to make Money. 69 
 
 you hs.ve got your father's money, which he has labored 
 hard to procure, and every shilling counts one with him. 
 He has also entrusted you with it to expend for neces- 
 saries, and as a trustee of that money you must spend it 
 only for such things as are purely necessary, and with 
 his permission only. You may say that you have to-day 
 entered, by your father's consent, upon your ABC man- 
 hood. He has done this to educate you in the way of 
 the world. If you use the knowledge you will gain by 
 his kindness in this respect, you will thank the day when 
 you commenced this system of education, and all I can 
 say to you is, persevere in it till your father ceases to 
 give you the means of support." 
 
 " We are now at the shoe-shop. What number do you 
 wear ? " 
 
 " I don't know," replied the boy. 
 
 " Certainly I did not suppose you did ; but find out, so 
 that when you come again you need not spend a quarter 
 of an hour trying on shoes till you find a pair to fit ; for 
 by your ignorance of that fact now, three of us, the shoe- 
 maker, yourself, and myself, lose collectively about half 
 an hour of valuable time yours for play and study, mine 
 for writing, and the shoemaker, who, because everybody 
 is equally ignorant, has to charge more for his shoes. 
 What kind of shoes do you want ? " 
 
 " I do not know ; such as mother gets me, I suppose," 
 replied the boy. " Yes, calf-skin, thick soled." 
 
 Now I must give you a few rules about purchasing, 
 which you should remember. 
 
 Find out before you start just what you want. This 
 will save time, and keep you from buying what you do 
 not want, or cheap bargains, which are always the dearest 
 in the end. 
 
yo Hozu to make Money. 
 
 Ask for the varieties of the kind of goods you want, if 
 you desire to selecl. Ask for nothing else. 
 
 To ask to see that which you do not want, out of cu- 
 riosity, is taking the time of the tradesman by false pre- 
 tences. It is taking from him by false representations 
 that which is money to him. If he voluntarily offers to 
 show you, look if you please. 
 
 Ask the price simply. 
 
 If the price and article suit you, take it ; and if it does 
 not suit you, leave it, and ask no abatement. 
 
 If the tradesman can abate, and wishes to sell at a 
 lower rate, he may himself make the proposition. But 
 if you do it, you imply that he charges more than he can 
 afford to take, and is making an exorbitant profit. It is 
 jockeying on the part of the purchaser, which is both 
 undignified and unmanly. 
 
 Be prompt in your decisions. 
 
 This is practicable if you know what you want, and it 
 saves much time all around. 
 
 Never ask the wholesale dealer to sell you a retail 
 quantity at zvholesale price. 
 
 For then you both do injustice to the retailer, and you 
 ask the wholesaler to give you the amount of money 
 which is the proper addition to the wholesale price, 
 whether the business be done by one man or by another. 
 
 If a tradesman deceives you, go to him no more. 
 
 There are more places than one where you can get the 
 same article ; and if he deceives you once, he will in all 
 probability deceive you again. 
 
 If he sell you a poor article for good, inform him of it. 
 
 The chances are, he is as much deceived as you, as 
 false representations make him criminally liable. He 
 will readily correct the error if he is an honest man ; if 
 
How to make Money. 7 1 
 
 not, you cannot make him honest by complaint at law, 
 though that might be your duty. 
 
 If you find you have deceived yourself in a purchase, 
 keep the goods. 
 
 The seller cannot find eyes and judgment on both sides 
 of a bargain ; do not then blame him, but blame yourself. 
 
 Treat tradesmen with respect and politeness. 
 
 The buyer and the seller, in all honest and necessary 
 dealings, stand on an equal platform. They are each 
 necessary to the other, and are, for the time, equal to 
 each other the one holding the goods, the other the 
 money. Be polite and civil to them, and you will gene- 
 rally provoke the same civility in return. 
 
 Be discriminating in values. 
 
 There may be a hundred articles of the same kind and 
 same price, but one may be of much better quality and 
 more valuable than another ; and in order that you shall 
 get the most for your money, you must select the best 
 out of the lot. 
 
 With these very general, but by no means all the 
 suggestions which might be made to you, we will now 
 enter the shoe-store, and you may make your first pur- 
 chase. 
 
 The young beginner completed his purchase, his shoes 
 were good, the amount of money paid a little less than 
 the parent usually gave ; for, somehow, the merchant 
 thought he would not put on the extreme price to such a 
 novice, and the whole transaction was eminently satis- 
 factory to all parties. It is not difficult to see what 
 qualities of the mind were called into exercise by this 
 simple practical lesson. The boy would at once begin to 
 examine such articles, inquire what they were made of, 
 and of their various qualities, the kinds of leather used 
 
72 How to make Money. 
 
 how it was made, and where ; till following up these sug- 
 gestions, his mind would ramify into every avenue of 
 knowledge of such practical nature and utility. Such 
 information would store his mind with facts highly essen- 
 tial to the vigorous attainment of other learning, as the 
 mind would have external exercise highly beneficial to its 
 energetic action. 
 
 It is but too apparent that all this will consume much 
 time of some one. But a common education in letters 
 cannot be obtained without a long series of care on the 
 part of the teacher, and the expenditure of time on the 
 part of the pupil. At the present time this business 
 education is commenced when all other education is 
 finished, and the pupil begins to use it before he has 
 learned the lesson. The result is, that the education is 
 too expensive in most cases, involving the inexperienced 
 in debt and trouble which it takes half a lifetime to wipe 
 away. Human action must be excited by an object 
 in order to prove effective ; and hence, if you wish the 
 child to aid in this sort of education, you must not only 
 extend to him a motive, but you must show him some 
 advantage which he is to reap from all this labor on his 
 part. If you can accomplish that, you will even find him 
 foremost in his desire to accomplish something. 
 
 You need not teach children that it is pleasant to have 
 money, for as soon as they find out that money will buy 
 a whistle, a top, or a rocking-horse, that lesson is learned. 
 Nor will they be slow in discovering every attribute of a 
 fortune. But should they be so obtuse, the parent or 
 guardian should instil into their minds the cardinal virtue 
 and duty, that is, to labor for and have money, in order that 
 they may neither be a charge upon the public nor upon 
 their friends. With this moral and political duty con- 
 
How to make Money. 73 
 
 stantly held up before their minds, they will see that the 
 object for which they are striving is not mercenary and 
 mean, but that it is the highest and first duty of man, and 
 is in every way commendable and praiseworthy. 
 
 The independence should be sought for with care and 
 with thought, as being next best to knowledge. Nor is 
 knowledge necessarily superior to one's duties to his 
 neighbor, himself, and to the public at large. Then, in 
 order that the youth may be excited to acquire a business 
 knowledge and plant his first dollar in security as the 
 seed of an independence or of a fortune, he must be told 
 what that dollar will accomplish towards this desirable 
 end. He must be taught how a dollar can be lost as well 
 as earned, and that it, like the seed placed in the ground, 
 requires fencing in, to protect it from being destroyed. 
 
 The incentive to make money should be explained ; and 
 the same care and attention which will make the little 
 business of the child profitable will make the larger busi- 
 ness of the man profitable also. The business of the 
 man is prosecuted for profit and a living ; the business 
 of the child can be made the same by proper arrange- 
 ment. The parent can either allow a commission to the 
 child on the amount of his expenditure, if the business be 
 well done, or allow him to make his profit out of the dif- 
 ference between his income and expenditure. The child 
 must feel, as the merchant feels, that he has the chance 
 of making something, or he will be discouraged and take 
 no interest in his little business. 
 
 The parent will have accomplished all his duty in one 
 direction if he gives his child a business education as 
 well as an ordinary school or collegiate one, and fits him 
 to avail himself certainly of what the parent can do still 
 further for him. The moment one becomes a parent 
 
74 How to make Money. 
 
 they have a money obligation thrown upon them to make 
 a certain kind of independence for another. How, asks 
 the reader, can this be done ? The answer is simple, and 
 the course is equally so. What is the parent's wish ? 
 Does he wish to give the child a collegiate education ? 
 We will suppose this first, and suppose, too, that the 
 means are limited, and the prospect, under ordinary cir- 
 cumstances, is, that they will not be able to do so. Let 
 us see. You will be able to give him the ordinary edu- 
 cation, probably, to fit him for college ; if not, we will 
 show how that can be done. We will suppose that this 
 will cost two hundred dollars, and his collegiate education 
 will cost one thousand dollars. Now suppose you com- 
 mence his primary education at thirteen years old, and 
 his collegiate education at fifteen. Now let us see what 
 is to be done to get the money. You have twelve years 
 to make the two hundred dollars in, and fifteen years to 
 make the one thousand dollars in. How much have you 
 got to save daily (three hundred and eighteen working 
 days), improved every six months, to have the amount? 
 You commence the first year the child is born, and con- 
 tinue the same each day of the twelve years. Look at 
 the tables of earnings for te7i years ; 5 cents per day 
 gives $199.89 at 5 per cent., $210.26 at 6 per cent, and 
 $222.29 at 7 per cent. By the one year table you find 
 that 5 cents per day gives for two years (one double) 
 $15.85 at 5 per cent, $15.88 at 6 per cent, and $15.92 at 
 7 per cent. So that if the parent put aside every day 5 
 cents, when the child was 13 years old, there would result 
 $215.74 if improved at 5 per cent, $226.14 if improved 
 at 6 per cent, and $238.21 if improved at 7 per cent 
 We ask, is there any one who could not lay aside $15.90 
 per year, or 5 cents per day, to educate a child ? 
 
How to make Money. 75 
 
 Let us now examine as to the $1,000 necessary for the 
 collegiate education. The parent has from the time the 
 child is born till he is say 16 years old to lay aside this 
 amount, that is, 1 5 years, Look at the 1 5 years' accumu- 
 lation table, and you find that 15 cents a day, improved 
 at 5 per cent., gives $1,030.62 ; improved at 6 per cent, 
 gives #1,1 16.83 ; improved at 7 per cent, gives $1,21 1.84. 
 Is there any one scarcely in this country who cannot 
 lay aside 20 cents a day, or $63.60 per year, besides sup- 
 porting himself? 
 
 Assume, if you please, that the parent is well off, and 
 wishes to make a settlement of a stated sum upon the 
 child when twenty-five years of age, for the purpose of 
 going into business, or settling himself comfortably, or 
 as a marriage gift, possibly, to a young lady. Suppose 
 it to be $10,000. How much would the parent be 
 obliged to lay aside, improved at seven per cent., to ac- 
 complish that object ? Look at the twenty -jive year table 
 of improved earnings, run down the column under seven 
 per cent, till you find the nearest sum to it. You find 
 $10,251, and find that fifty cents per day, accumulated at 
 seven per cent., has done the business. There is scarcely 
 a family where this amount is not frittered away daily, 
 and even mora 
 
 But suppose there were five children, each requiring 
 this sum, the whole amount would be but $2.50 per day, 
 for 313 working days, for 25 years, or a gross sum of 
 $5 1,25 5. There are very few families who could not save 
 this sum from their expenditures without feeling or miss- 
 ing it. It amounts to but $15 per week, or $910 per 
 annum ; or $3 per week per child, or $182 per year per 
 child. There would, however, be but little use in putting 
 this sum in the hands of a child not educated as before 
 
j6 How to make Money. 
 
 spoken of, in the ways of business, as in all probability 
 it would be lost in a short time, and the reasons will be 
 apparent if the reader reads this book through. If, how 
 ever, any doubt would exist in the mind of the parent, 
 the sum could be placed at interest, and the interest only 
 given ; or, still better, purchase an annuity, which would 
 place the child beyond want during life. 
 
 How much money is uselessly spent on children 
 uselessly because it neither educates, nourishes, feeds, 
 clothes, nor is advantageous to them ; but is generally a 
 great disadvantage to them, by teaching them that every 
 whim or want can be supplied, and thereby giving them 
 a taste and an education to spend rather than earn. 
 
 It is within bounds to say that every child of fair, well- 
 to-do parents has one hundred dollars a year spent upon 
 him, by parents, which could be dispensed with ; that is, 
 in extra cost of clothing, toys, and a thousand and one 
 things. That is 31 cents per day on an average, say till 
 he is 11 years old, and at least 50 cents from then till he 
 is 21 years old, an average say of 41 cents for twenty 
 years. Now it will probably astonish any one to find 
 what sum this will be, supposing that it is spent only 313 
 working days of each year. By turning to the twenty- 
 year table of earnings we find that this sum, improved at 
 5 per cent, gives $4,324 ; improved at 6 per cent, gives 
 $4,838 ; improved at 7 per cent, gives $5,424; improved 
 at 8 per cent, gives $6,096. 
 
 The amount of 41 cents is far inside the real useless 
 expenditure in nine cases out of every ten. Let any one 
 but calculate the amount spent by any one of his children 
 during this period, and he will find that it approaches 
 near a dollar, and often more. But suppose it to be a 
 dollar, we find the amount at 21 years to be, improved at 
 
How to jnake Money. yj 
 
 7 per cent. $13,232, a snug little capital to commence life 
 with, or purchase an annuity to make him independent of 
 want. 
 
 Over is a table which shows what an expenditure of 
 $10 made from the age of one year to 25 years will cost, 
 or will produce if compounded at 7 per cent, at 30, 40, 50, 
 60, and 70 years. That is, if the same amount in money 
 had been put at interest, how much it would amount to 
 at those periods. 
 
 This table explains itself. It will be seen by that, that 
 an expenditure of $10 at 1 year of age if invested at 7 
 per cent, would be $76.12 at 30 years of age, $149.74 
 at 40, $294.57 at 50, $579.46 at 60, $1,139.89 at 70, 
 $2,242.24 at 80 years of age, and so on. And if repeated 
 every year to the end of twenty-five years, the result 
 would be the gross sums of each line added up for the 
 various ages, 30, 40, 50, 60, 70, and 80. Thus it will be 
 seen what ample provision can be made for a child by a 
 little self-denial and a judicious investment of a very 
 trifling sum each year a sum that would never be 
 missed from the household expenditures. 
 
 In like manner, by reference to the tables of earnings 
 in the back part of the book, say for twenty-five years, 
 either the child or the parent can see that the saving of 
 a cent daily will amount, at 7 per cent., to $205 when he 
 is twenty-five years old ; of 5 cents per day, to $1,025 ; 
 of 10 cents a day, to $2,050 ; of 25 cents a day, to 
 $5,125 ; of 50 cents, to $10,250, and so on. Is it saying 
 too much to assert that an independence for a child is 
 within the reach and power of almost any one ? But, 
 says the reader, " I may be able to get the money, but 
 how can I get the increase ? " We say read on ; you 
 will find out that in time as you progress. 
 
 1 
 
78 
 
 How to viake Money. 
 
 Table 
 
 Showing an expenditure of $10 at any age from i to 25 years, and 
 the amount such would be if improved at compound interest at 
 7 per cent, at 30, 40, 50, 60, 70, and 80 years of such person's 
 age. 
 
 A 
 
 Ej 
 
 5 
 
 d 
 
 t 
 
 & 
 
 
 O B 
 
 9> 
 
 B 
 
 (LI 
 
 
 & 
 
 
 w a. 
 
 
 >> 
 
 >~> 
 
 > 
 
 >, 
 
 !>i 
 
 5 " 
 
 5 w 
 
 O 
 
 * 
 
 
 10 
 
 * S 
 
 
 
 eg 
 
 S| 
 
 < 
 
 < 
 
 < 
 
 < 
 
 < 
 
 < 
 
 I 
 
 $76 12 
 
 $H9 74 
 
 $294 57 
 
 $579 46 
 
 $i,i39 89 
 
 $2,242 24 
 
 2 
 
 71 14 
 
 139 95 
 
 275 30 
 
 541 56 
 
 1,065 32 
 
 2,095 65 
 
 3 
 
 66 49 
 
 130 79 
 
 257 29 
 
 506 13 
 
 995 63 
 
 i 5 958 55 
 
 4 
 
 62 14 
 
 122 24 
 
 240 45 
 
 473 02 
 
 930 49 
 
 1,830 32 
 
 5 
 
 58 07 
 
 114 24 
 
 224 73 
 
 442 07 
 
 869 62 
 
 1,710 67 
 
 6 
 
 54 27 
 
 106 77 
 
 210 02 
 
 4i3 15 
 
 812 72 
 
 1,598 76 
 
 7 
 
 50 72 
 
 99 78 
 
 196 28 
 
 386 12 
 
 759 5 6 
 
 i,494 17 
 
 8 
 
 47 4i 
 
 93 25 
 
 183 44 
 
 360 86 
 
 709 87 
 
 1,396 42 
 
 9 
 
 44 30 
 
 87 15 
 
 I7 1 44 
 
 337 25 
 
 663 43 
 
 1,305 06 
 
 10 
 
 41 41 
 
 81 45 
 
 160 23 
 
 315 19 
 
 620 03 
 
 1,219 69 
 
 11 
 
 38 7o 
 
 76 12 
 
 149 74 
 
 294 59 
 
 579 46 
 
 i,i39 89 
 
 12 
 
 36 17 
 
 71 14 
 
 139 95 
 
 275 3o 
 
 54i 5 6 
 
 1,065 32 
 
 13 
 
 33 80 
 
 66 49 
 
 130 79 
 
 257 28 
 
 506 13 
 
 995 63 
 
 14 
 
 3i 59 
 
 62 14 
 
 122 24 
 
 240 45 
 
 473 02 
 
 930 49 
 
 15 
 
 29 52 
 
 58 07 
 
 114 24 
 
 224 73 
 
 442 07 
 
 869 62 
 
 16 
 
 27 59 
 
 54 27 
 
 106 77 
 
 210 02 
 
 4i3 15 
 
 812 73 
 
 17 
 
 25 79 
 
 50 72 
 
 99 78 
 
 196 28 
 
 386 21 
 
 759 56 
 
 18 
 
 24 10 
 
 47 40' 
 
 93 25 
 
 183 44 
 
 360 86 
 
 709 87 
 
 19 
 
 22 52 
 
 44 30 
 
 87 15 
 
 171 44 
 
 337 25 
 
 663 43 
 
 20 
 
 21 05 
 
 41 40 
 
 81 45 
 
 160 22 
 
 315 19 
 
 620 03 
 
 21 
 
 19 67 
 
 38 70 
 
 76 12 
 
 149 74 
 
 294 57 
 
 579 46 
 
 22 
 
 18 38 
 
 36 17 
 
 71 14 
 
 139 95 
 
 275 3o 
 
 54i 56 
 
 23 
 
 17 18 
 
 33 80 
 
 66 49 
 
 130 79 
 
 257 29 
 
 5 b6 13 
 
 24 
 
 16 05 
 
 3i 59- 
 
 62 14 
 
 122 24 
 
 240 46 
 
 473 02 
 
 25 
 
 15 00 
 
 29 52 
 
 58 07 
 
 114 24 
 
 224 73 
 
 442 07 
 
How to make Money. 79 
 
 Now, young boy or girl, there is a word to be said to 
 you. Clothing first costs money, and it costs money 
 also to replace it. If you had a $10 bill would you sit 
 down and rub it out on the pavement till you had no- 
 thing of it left ? Would you consider any one sane 
 whom you would see doing such a thing ? What would 
 you think, then, of one who would thus use a $100 or 
 $200 bill ? It is easy to tell what you would say if you 
 saw any one doing such a thing, that they were out of 
 their mind or were wanting, in intellect. If they had a 
 fortune and could not find objects of charity to bestow 
 it upon, such rubbing out of value may be a justifiable 
 amusement. But if they had not, it is a moral and 
 political wrong ; and probably the public charity or that 
 of friends would have to replace the loss or pay the bill. 
 They might do the same, in result, with dress, and your 
 foolish notions might regard them as stylish. The 
 reader is left to finish up the balance, of the argument. 
 
 The child, however, should regard his apparel as so 
 many bank bills, and use it accordingly. If the child 
 rips, tears, uselessly wears out, or destroys his clothing, he 
 does no better or worse than he who sits upon the side- 
 walk and rubs out a bank bill, and has nothing to show 
 for it but his folly. Then, to make money, be careful of 
 what you have use good clothing for the best purposes, 
 and old for uses where the new would be destroyed or 
 uselessly defaced. Think of the bank bills on your back, 
 and think how long you can make them last and look 
 fresh and appropriately neat. It is but a common event 
 to damage your dress ten dollars in a day ; this, in 
 fifty years, would produce about two hundred dol- 
 lars quite a heavy loss ; and, if saved, an equally large 
 gain. 
 
 4 
 
80 How to make Money. 
 
 The same care and thought should be had about all 
 things which are useful arid cost money ; and he will pro- 
 bably have more of this world's goods and be quickest 
 independent of labor who attends most closely to such 
 suggestions. 
 
 No expenditure should be made by parent or child, if 
 they have not yet attained an independence, without first 
 considering the cost, as referred to in that scale. Not 
 what it costs to-day, but what it costs on the day fixed 
 for the independence. If the same amount of thought, 
 energy, time, toil, and sacrifice, be made in properly 
 spending, investing, and generally caring for money after 
 it is got, as there is in getting it, there would be no dan- 
 ger as to the result. None would be without an inde- 
 pendence, few without a fortune, and none in distress, 
 poverty, or want, who could gain employment. 
 
How to make Moiiey. Si 
 
 CHAPTER VI. 
 
 HOW TO MAKE MONEY. 
 
 Means of money-making. Diversity. Selection. Stand by. 
 Chance and choice. Different aims. Relative wants. Mark 
 and abide. Most accomplished. Commerce a failure. Not so 
 always. Chances in Boston. Fail as a class. A strong bank. 
 One per cent, in Philadelphia. Two per cent, in New York. 
 Bankrupt acl;. Chances in Cincinnati. Chances in New 
 York, Boston, and Philadelphia. Nearly all fail. Shrink -with 
 terror. Mercantile business same as banking well done. 
 Causes of failure not explained. Will be. Would pay best. 
 Business example. Kid-glove merchant. Failure. Ignorance 
 alike. Course. End. It must make. Merchants and banks. 
 Fault somewhere. Success and failure hand in hand. Em- 
 ployer and employed. When most valuable. Manners make 
 money. How. Losses by same. Example. Others. Little 
 element. Great results. Bad manners expensive. Metal 
 merchant. I ncivility and ignorance. Loss $ 1 96,40 1 . Expen- 
 sive amusement. Great principle. Lose or gain. Fire. Loss 
 $30,000. General principles. All make money. Danger just 
 here. " Every one to his trade." Beware. Look out. The 
 made dollar. Stop and read. Where the trouble lies. 
 
 The means of making money are as various as the em- 
 ployments into which individuals enter. There is no 
 occupation which yields more than the sum required for 
 support, that does not afford an opportunity for gain. 
 There is a choice of such employments ; some producing 
 more money than others for the same time and the same 
 labor. It is well to look to that difference in the selection 
 to be made. But when the occupation is once entered 
 upon never leave it while there is a reasonable demand for 
 cither the articles dealt in or the kind of labor bestowed. 
 This cardinal in money-making of course only applies to 
 
?>2 How to make Money. 
 
 those who are thus engaged, and not to the one who has 
 made an independence, and can afford to make the sacrifice 
 of a change ; for a change from one business to another 
 is expensive, involving generally a loss of the capital, of 
 skill and knowledge acquired, and time both in making 
 the change and in acquiring skill in the new business. 
 
 The diversity of business makes diversity of employ- 
 ments ; and as a general thing, those who engage in them 
 have no intelligent choice in the matter. They are 
 either selected by the parent, or by the youth who has 
 not the remotest idea of the detail or of the profitable- 
 ness of what he is about to engage in. What usually 
 attracts both, however, is the fact of some one having 
 done well or made a fortune in that kind of business. 
 Some are driven from necessity to take whatever offers 
 in the way of employment, relying upon chance for some- 
 thing better or for advancement. Whatever may be the 
 kind of employment which fate or choice has given one, 
 there is about as much chance to make an independence 
 by one as in the other. That is, taking into account the 
 gains and necessary expenditures attached to each, the 
 result relatively is about the same, as will be seen here- 
 after. 
 
 What is a fortune for a laboring man, accustomed 
 to the society of his peers, and only spending what 
 that grade of life requires, does not compel as much 
 money to fill his necessities, or even his desires, as the 
 merchant of liberal education, of extended acquaintance 
 among the refined and educated, demanding expenditures 
 commensurate with such a walk in life. The two indi- 
 viduals are on entirely distinct bases of necessary wants, 
 live in two distinct worlds, and are laboring in different 
 extended spheres. ' The same is true of every grade or 
 
How to make Money. 83 
 
 walk in life ; nor is there an exception from the scullion 
 to the king. This is the machinery of society ; and, 
 right or wrong, so we find it, and so we treat it. 
 
 The fortune is only to be measured by that condition 
 where the possessor is satisfied with the supply of a 
 given number and description of wants. Should the in- 
 dividual be content with what the interest of five thou- 
 sand dollars would command, then this sum is his inde- 
 pendence and his fortune also. But if his independence 
 from charity was just this sum, and he was unhappy 
 because he had not the means of gratifying other and 
 more expensive desires, he might keep out of the poor- 
 house, or swing clear of the charity of friends, but he 
 would not possess a fortune. The independence may be 
 measurably fixed in amount, but the fortune is the child 
 of the rich man's imagination. It may be rated much, 
 or comparatively small, just in proportion to his satis- 
 faction. 
 
 Each grade of business has generally its relative por- 
 tion of income and relative proportion of expenditures ; 
 not altogether from the necessities attaching to the busi- 
 ness itself, but from the general supposed necessities 
 attaching to the position* and wants of the persons con- 
 dueling it. Generally, then, what is a fortune in one 
 business, is a small fraction of one in another. The 
 question, then, is with every individual to decide what 
 rank in life he will aim at, in order to settle the amount 
 of the fortune to be obtained in business. Few will be 
 able to make a mark, and abide by it ; but individual 
 imperfections do not affect a sound principle. 
 
 Some businesses are incapable, from the very nature 
 of them, of great extension. They are limited, and the 
 money to be made from them is likewise limited. The 
 
84 How to make Moiiey. 
 
 first guarantee of success is to be satisfied with the busi- 
 ness you are engaged in. For it can be conclusively 
 shown that one business is just about as good as an- 
 other in its results in the long run. The next qualifica- 
 tion for money making in such business is knowledge 
 respecting it in every possible relation, and skill and tacl in 
 its application to accomplish most with the least expendi- 
 ture of time and capital. 
 
 All works published upon business and money-mak- 
 ing seem to hold up to the applicants for fortunes the 
 inducements of commerce as the great field for wealth. 
 But, if the statistics furnished are to be relied upon, 
 merchandizing is the last occupation in which to look 
 for a fortune, provided merchandizing is carried on in 
 the usual way. But a failure of ten thousand locomo- 
 tives to perform well, or their giving out from a defect 
 in some of their parts, would not condemn the present 
 beautiful specimens of such work. The failure of one 
 man in merchandizing should not necessarily indicate 
 the failure of auother. We take the liberty of making 
 an extract of some statistics found in that very excellent 
 work, " Freedley's Practical Treatise on Business," re- 
 specting mercantile success, headed : 
 
 "CHANCES OF SUCCESS IN MERCANTILE LIFE IN ^BOSTON. 
 
 " On the evening of the 28th of February, 1840, Gene- 
 ral Henry A. S. Dearborn delivered an address at an 
 agricultural meeting of the members of the Legislature, 
 which embraced a statement that startled many, and at- 
 tracted the attention of business men in all parts of the 
 country. Freeman Hunt, Esq., of the Merchants' Maga- 
 
How to make Money. 85 
 
 zine, wrote to General Dearborn for a copy of his 
 remarks, made in connection with that statement, which 
 he placed at his disposal. General Dearborn was Col- 
 lector of the Port of Boston for nearly twenty years, and 
 was therefore enabled to notice the vicissitudes in trade, 
 and his statements are confirmed by the remarks of a 
 Boston merchant, which are here appended. He is 
 speaking of the superior advantages of a residence in the 
 country, and observes : 
 
 " ' In England, the pleasures, and privileges, and bless- 
 ings of the country seem properly understood and valu- 
 ed. No man there considers himself a freeman unless 
 he has a right in the soil. Merchants, bankers, citizens, 
 men of every description, whose condition of life allows 
 them to aspire after anything better, are looking forward 
 always to retirement in the country to the possession 
 of a garden or a farm, and to the full enjoyment of rural 
 pleasures. The taste of the nobility of England is emi- 
 nently in that direction. There are none of them who, 
 with all the means which the most enormous wealth can 
 afford, even think of spending the year in London, or of 
 remaining in the confinement, noise, and confusion of 
 the city, a day longer than they are compelled to do by 
 their parliamentary or other public duties. 
 
 " ' There is, in this respect, a marked difference be- 
 tween England and France. Formerly, the nobility of 
 France were scattered broadcast over the territory, and 
 had their villas, their castles, and chateaux, in all the pro- 
 vinces of the kingdom. But the monarchs, anxious to 
 increase the splendor of their courts, and to concentrate 
 around them all that was imposing and beautiful in 
 fashbn, luxury, and wealth, collected the aristocracy in 
 
86 How to make Money. 
 
 the capital. The natural consequence was that the 
 country was badly tilled, and agriculture made no ad- 
 vancement, while England was making rapid and extra- 
 ordinary progress in the useful and beautiful arts of 
 agriculture and horticulture, and now, in her cultivation, 
 presents an example of all that is interesting in embel- 
 lishment and important in production. We are the 
 descendants of England ; yet on these subjects we have 
 reversed the order of taste and sentiment which there 
 prevails. 
 
 " ' Happy would it be for us if our gentlemen of wealth 
 and intelligence would copy the bright example of the 
 affluent and exalted men of England. If, after having 
 accumulated immense fortunes in cities, they would carry 
 their riches and science into the country, and seek to 
 reclaim, to improve, and render it more productive and 
 beautiful. * * * * 
 
 " ' It is an inexplicable fact that even men who have 
 grown rich in any manner in the country should rush 
 into cities to spend their wealth ; and it is equally as 
 remarkable, that those who have accumulated fortunes 
 in the city shudder at the idea of going into the country, 
 where wealth might be safely appropriated to purposes 
 of the highest utility, pleasure, and refinement. 
 
 " ' There prevails, in this, rather too much ignorance, 
 false sentiment, and unworthy prejudice. The city must, 
 of course, be regarded as the proper seat of active busi- 
 ness in all the branches of commerce and navigation. 
 But when a large portion of life has been spent in these 
 harassing pursuits, and men have acquired the means of 
 competence and independence in the country, why they 
 should not seek to enjoy the refreshing exercise, the 
 delightful recreations, and the privileged hours of retire- 
 
How to make Money. 8* 
 
 ment and reflection which a rural residence affords, was 
 a mystery which it was impossible to solve. 
 
 " ' It was not merely the ungovernable influence of a 
 city life upon health that was most deeply to be regret- 
 ted. Many an uncorrupted young man from the country, 
 impelled by a reckless passion for gain, has there early 
 found the grave of his virtues. But too many instances 
 might be pointed out, in which the acquisition of pro- 
 perty has proved as great a curse as could have befallen 
 them. The chances of success in trade are likewise 
 much less numerous, and are more uncertain than men 
 generally believe, or are willing to allow. After an ex- 
 tensive acquaintance with business men, and having long 
 been an attentive observer of the course of events in the 
 mercantile community, I am satisfied that, among one 
 
 HUNDRED MERCHANTS AND TRADERS, NOT MORE THAN 
 THREE, IN THIS CITY, EVER ACQUIRE INDEPENDENCE. It 
 
 was with great distrust that I came to this conclusion ; 
 but, after consulting with an experienced merchant, he fully 
 admitted its truth. Infinitely better, therefore, would it 
 be for a vast portion of the young men who leave the 
 country for the city, if they could be satisfied with a 
 farmer's life. How preferable would it have been for 
 those who have sought wealth and distinction in cities, 
 if they had been satisfied with the comforts, innocent 
 amusements, and soothing quietude of the country ; and, 
 instead of the sad tale of their disasters, which must go 
 back to the parental fireside, the future traveller, as he 
 passed the humble churchyard in which they had been 
 laid at rest with their laborious ancestors, might truth- 
 fully repeat these emphatic words of England's gift- 
 ed bard : 
 
 4* 
 
88 How to make Money. 
 
 " Some village Hampden that, with dauntless breast, 
 The little tyrant of his fields withstood ; 
 Some mute, inglorious Milton here may rest ; 
 Some Cromwell, guiltless of his country's blood. " ' 
 
 " The following confirmatory remarks of an intelligent 
 gentleman from Boston appeared in the Farmers' 
 Library : 
 
 " 'The statement made by General Dearborn appeared 
 to me so startling, so appalling, that I was induced to 
 examine it with much care, and, I regret to say, I found it 
 true. I then called upon a friend, a great antiquarian, a 
 gentleman always referred to in all matters relating to the 
 city of Boston, and he told me that, in the year 1800, he 
 took a memorandum *of every person on Long Wharf, 
 and that, in 1840 which is as long as a merchant con- 
 tinues in business only five in one hundred remained. 
 They had all, in that time, failed, or died destitute 
 of property. I then went to a very intelligent director 
 of the Union Bank a very strong bank. He told me 
 that the bank commenced business in 1 798 ; that there 
 was then but one other bank in Boston, the Massachusetts 
 Bank, and that the bank was so overrun with business 
 that the clerks and officers were obliged to work until 
 twelve o'clock at night, and all Sundays ; that they had 
 occasion to look back, a year or two ago, and they found 
 that, of the one thousand accounts which were opened with 
 them in starting, only six remained ; they had, in the 
 forty years, either failed or died destitute of property. 
 Houses, whose paper had passed without a question, had 
 all gone down in that time. Bankruptcy, said he, is like 
 death, and almost as certain ; they fall singly and alone. 
 
How to make Money. 89 
 
 and are thus forgotten ; but there is no escape from it, 
 and he is a fortunate man who fails young. 
 
 " 'Another friend told me that he had occasion to look 
 through the probate office a few years since, and he was 
 surprised to find that over 90 per cent, of all the estates 
 settled there were insolvent. And, within a few days, I 
 have gone back to the incorporation of our banks in 
 Boston. I have a list of the directors, since they started. 
 This is, however, a very unfair way of testing the rule, for 
 bank directors are the most substantial men in the com- 
 munity. In the old bank over one-third had failed in 
 forty years, and in the new bank a much larger propor- 
 tion. 
 
 "'lain sorry to present to you so gloomy a picture, and 
 I trust you will instil into your sons, as General Dearborn 
 recommends, a love of agriculture ; for, in mercantile pur- 
 suits, they will fail to a dead certainty/ 
 
 "CHANCES OF SUCCESS IN BOSTON, PHILADELPHIA, AND 
 NEW YORK. 
 
 " Nahum Capen, Esq., Editor of the Massachusetts State 
 Record, makes some interesting statements on the subject 
 in the following letter which he wrote to the Hon. Tru- 
 man Clark, to be presented at one of the legislative agri- 
 cultural meetings held weekly during the session of 
 the Legislature at the Senate Chamber. 
 
 "'Boston, March 2, 1847. 
 " ' Hon. Truman Clark : 
 
 " My dear Sir In accordance with your wishes, I 
 send herewith such statistics in regard to failures in 
 
go Hozv to make Money. 
 
 Massachusetts, as I received last year, in reply to a cir 
 cular I sent to every town in the commonwealth, for the 
 purpose of collecting information for the Massachusetts 
 State Record. As these returns were imperfect, I defer- 
 red any publication of them till another year, when 
 probably I should have the means of doing the subject 
 ample justice. 
 
 " ' Number of towns represented, 144 ; estimated popu- 
 lation of ditto, 242,186; number of farming towns, 79; 
 manufacturing and farming, 56 ; number engaged mostly 
 in navigation, 9 ; number of failures reported, 357. 
 
 " ' Business of Bankrupts. Farmers, 59 ; manufacturers 
 and mechanics, 182, including 70 boot and shoe manufac- 
 turers ; laborers, 9 ; innholders, 1 ; speculators (farmers), 
 4 ; ministers, 1 ; traders, 63 ; business not stated, 48. * * 
 
 " ' It does not appear, from my returns, how many 
 farmers failed in consequence of becoming speculators, 
 intemperate, or indolent men. It seems to me that an 
 industrious, temperate, and frugal farmer can hardly do 
 otherwise than succeed. Small gains, gradually accumu- 
 lated, are safer and surer than large profits and sudden 
 fortunes. Their influence is favorable to the growth of 
 good morals, and they do not endanger the habits of 
 prudence. 
 
 " ' If Governor Carver had invested 70 on his arrival 
 in the country at compound interest, the accumulated 
 sum at this time would be sufficient to buy the whole 
 State of Massachusetts, and it would exceed the banking 
 capital of the United States. 
 
 " f If a young man at twenty-one were to lease a farm 
 and make an annual profit of one hundred dollars, and 
 invest both principal and interest from year to year, for 
 twenty-five years, his fund would amount to $5,000, If 
 
How to make Money. 91 
 
 he were to own the farm, he might have a fund at interest 
 of $10,000 in twenty-five years. 
 
 " 'A trader, however, may begin with a capital of $ 10,000 
 on the credit system, as now managed, and in twenty-five 
 years there are ninety-seven chances to every one hun- 
 dred, that he will be $10,000 in debt beyond his means 
 to pay. 
 
 " ' This percentage of success and failure has been al- 
 luded to, at your discussions, as being true of Boston. I 
 believe it to be nearly correct. I have been advised by 
 very intelligent gentlemen, who have the means of know- 
 ing, that not more than one per cent, of the best class of 
 merchants succeed without failing in Philadelphia, and 
 that not more than two per cent, of the merchants of New 
 York ultimately retire on an independence, after having 
 submitted to the ustial ordeal of failure. These calcula- 
 tions are based, it must be observed, upon periods of 
 twenty-five and thirty years. 
 
 " ' The lot of the merchant is one of great labor and 
 anxiety, compared to that of the farmer. He labors 
 harder, his life is shorter, and he is less sure of a com- 
 petency in old age.' 
 
 "A contributor to the Merchants Magazine states that 
 it is said ' that but one eminent merchant, and his death 
 is still recent, has ever continued in active business in 
 the city of New York, to the close of a long life, without 
 undergoing bankruptcy or a suspension of payments in 
 some of the various crises of the country.' It is also 
 asserted by reliable authority, from records kept during 
 periods of twenty to forty years, that, of every hundred 
 persons who commence business in Boston, ninety-five 
 at least die poor ; that of the same number in New York 
 
92 How to make Money. 
 
 not two ultimately acquire wealth, after passing through 
 the intermediate process of bankruptcy ; while in Phila- 
 delphia the proportion is still smaller. 
 
 "By the statistics of bankruptcy under the uniform 
 bankrupt law in 1841, 
 
 " The number of applicants for relief under 
 
 that law were 33>739 
 
 " The number of creditors returned . 1,049,603 
 "The amount of debts stated . 440,934,615 
 
 " The valuation of property surrendered 43,697,307 
 "If this valuation were correct, nearly ten cents would 
 have been paid on every dollar due ; but what was the 
 fact? 
 
 " In the Southern district of New York, one cent was 
 paid, on an average, for each dollar due ; in the Northern 
 district, thirteen and two-thirds, being by far the largest 
 dividend. In Connecticut, the average dividend was 
 somewhat over half a cent on each dollar. 
 " ' In Mississippi, it was 
 " 'Maine 
 
 " ' Michigan and Iowa 
 " ' New Jersey 
 " ' Tennessee 
 " ' Maryland. 
 " ' Kentucky 
 " 'Illinois . 
 " ' Pennsylvania, East Virginia, South Alabama, 
 Washington, nothing. 
 
 "Palmers Almanac, 1849/ 
 " 'After making every possible allowance for the enhance- 
 ment of this enormous amount of debt by inflation of 
 values, speculative prices, etc., the proportion of $400,- 
 000,000, lost by those of the 1,049,603 creditors who 
 
 6 cents to $ 
 
 > 1,000 
 
 i cent " 
 
 100 
 
 i " " 
 
 100 
 
 4 cents to 
 
 100 
 
 4i " " 
 
 100 
 
 1 dollar to 
 
 100 
 
 8 dollars to 
 
 1,000 
 
 1 dollar to 
 
 1,500 
 
How to make Money. 93 
 
 were engaged in proper and legitimate business, must 
 still have been immense, and may justly be charged 
 against the profits of our regular commerce. These 
 things being so, our system of trade should be character- 
 ized, not as a system of exchange, but as a system of 
 bankruptcy, tending to the ruin of all who engage in it ; 
 the exceptions being only numerous enough to prove the 
 rule. 
 
 "CHANCES IN CINCINNATI. 
 
 "C. Cist, of Cist's Cincinnati Advertiser, the statist of 
 that city, published, some two or three years ago, the 
 following result of his investigations : 
 
 " ' The avidity with which young men crowd those 
 avenues in life in which there is a chance of making 
 money with rapidity, or of acquiring political or social 
 distinction and eminence, is the more remarkable, when 
 it is apparent, on the surface of the subject, that they 
 are venturing in a lottery in which there are many blanks 
 to one prize. A few acquire the object of their pursuit ; 
 the mass sink into obscurity and insignificance. 
 
 " ' Take, for example, mercantile pursuits. It is the 
 experience and observation of intelligent persons in the 
 East, that there is hardly a firm in existence now which 
 did business twenty years ago ; and that nine out of ten 
 in mercantile life, in the long run, amidst the fluctuations 
 of trade, are broken. 
 
 " ' Let me, however, bring the subject nearer home. I 
 had prepared a list of the principal active business men 
 who were in trade twenty years ago, in Cincinnati, of 
 which a brief extract is all that I have space for in these 
 
94 How to make Money. 
 
 columns. In place of giving names, I shall distinguish 
 them by numbers. 
 
 "'No. i. Broke ; resumed business ; has since left Cin- 
 cinnati. 
 
 " 2. Broke ; resides in Indiana. 
 
 " 3. Broke ; and now engaged in collecting accounts. 
 
 " 4. Died. 
 
 " 5. Now captain of a steamboat. 
 
 " 6. Left merchandizing to put up pork, which busi- 
 ness he also quit in time to save his bacon . 
 independent in circumstances. 
 
 " 7. Dead. 
 
 " 8. Broke ; resides at St. Louis. 
 
 " 9. A firm ; one of the partners dead ; the other out 
 of business ; both insolvent. 
 
 " 10. Partners ; both dead. 
 
 " 11. Partners; broke; one now a book-keeper, the 
 other dead. 
 
 " 12. Became embarrassed, and swallowed poison. 
 
 " 13. A firm ; broke. 
 
 " 14. A firm ; broke ; one of the partners died a com- 
 mon sot ; the others left the city. 
 
 " 15. Broke, and left the city. 
 
 " 16. A firm ; all its members out of business. 
 
 " 17. A firm ; senior partner dead. 
 
 " 18. A firm ; senior partner dead, junior resides at 
 Toledo. 
 
 " 19. Is now a clerk, and left Cincinnati, after becom- 
 ing intemperate. 
 
 " 20, 21, 22, 23. Died intemperate. 
 
 " 26. A firm ; one of the partners in another business ; 
 one removed to New York, and one a clerk. 
 
 " 27. Broke ; and drowned himself in the Ohio. 
 
How to make Money. 95 
 
 "' No. 28. Broke ; died of delirium tremens. 
 
 " 29, 35, 36, 37, 38. Broke, and removed to other 
 
 cities. 
 " 32. Out of business, having broke three times. 
 " 33. Broke ; now dealing in flour. 
 
 " ' My list comprehends some 400 business men, oi 
 which the above is a sample. I know oiovXfive now in 
 business who were so twenty years since. Such is mer- 
 cantile success.' 
 
 u From ' Report of his Majesty's Commissioners for 
 inquiring into the Administration and Practical Opera- 
 tion of the Poor Laws, 1834/ one of the officers gave the 
 subjoined return : 
 
 " ' As far as I can recollect:, from the books and docu- 
 ments furnished by the bankrupts, it seems to me that 
 fourteen have been ruined by speculations in things with 
 which they were unacquainted ; three by neglected 
 book-keeping ; ten by trading beyond their capital and 
 facile means, and the consequent loss and expense of 
 accommodation bills ; forty-nine by expending more than 
 they could reasonably hope their profits would be, 
 though their business yielded a fair return ; none by any 
 general distress, or the falling off of any particular branch 
 of trade.' 
 
 Another officer states : 
 
 I 
 
 " ' The new court has been open upwards of eighteen 
 
 months, during which period fifty-two cases of bank- 
 ruptcy have come under my care. To the best of my 
 
g6 How to make Money. 
 
 judgment, not one of them cajti be attributed to any 
 general distress. It is my opinion that thirty-two of 
 them have arisen from an imprudent expenditure, and 
 five partly from that cause, and partly from a pressure on 
 the business in which the bankrupt was employed 
 fifteen I attribute to imprudent speculations, combined, 
 in many instances, with an extravagant mode of life. 
 Among these fifteen I find a tailor, in a very small way 
 of business, borrowing money to become the owner of a 
 West India ship trading to Jamaica, a concern with 
 which he was wholly unacquainted ; consequently, he 
 was cheated in every way and speedily ruined. A Lon- 
 don publican, having a slight knowledge of science, ne- 
 glects his business here and goes over to France, for the 
 purpose of entering into a contract with the French 
 authorities for the supply of Paris with water. A work- 
 ing goldsmith, never having had 10, takes Saville House, 
 Leicester Square, and engages singers and musicians for 
 the purpose of establishing concerts. The thirty-two 
 classed as failing through imprudences in their mode of, 
 living, include many whose necessities, leading them to 
 resort to accommodation-bill transactions, have become 
 the prey of money-lenders and their attendant harpies, 
 the inferior class of solicitors.' " 
 
 From these statistics the money-maker might shrink 
 with terror and internal apprehension of almost certain 
 poverty. But in this list are found some who have suc- 
 ceeded well ; hence, if one has done it, another by fol- 
 lowing the same general course has the same chance. 
 Mercantile business can be conducted so as to be profit- 
 able, and as certaiiily so as banking business. We hazard 
 nothing in making this assertion ; and if authors had not 
 
How to make Money. 97 
 
 failed to prove the postulate by showing the defects of 
 mismanaged mercantile business, no new works on the 
 subject of money-making would be required. Freedley 
 remarks : " As to the causes of failures, we are sorry to 
 say, that we have not been able to find any satisfactory 
 certificate." 
 
 We assert that the causes of failure in mercantile or 
 every other business are as apparent as the causes of 
 failure in banking. There can be no question on this sub- 
 ject. All banking is not successful ; but if the officers 
 are honest and capable, hopeless failure seldom, if ever, 
 occurs. To make merchandizing as safe as banking is 
 all that the most conservative could desire. Banking, 
 generally speaking, is conducted by individuals who have 
 had large experience in other business, and have been 
 measurably successful. The securities, and, in truth, all 
 the business transactions, are the result of conference, de- 
 liberation, and argument y between several persons well 
 trained in business. By this means all doubtful opera- 
 tions and securities are excluded, and only those entered 
 into in which all agree. 
 
 Mercantile business, on the other hand, is seldom con- 
 ducted in this way, and hence seldom is successful. Let 
 any man or firm commence dealing in the articles them- 
 selves instead of in the paper which represents them, 
 such as the bankers do, and use the same discrimination 
 in judging of credits, have the same amount of capital 
 in proportion to the amount done, and the mercantile 
 business would pay the best. The losses would be no 
 more, and the profits greater. Who are these who go 
 into business of this nature ? A, has a son who has 
 agonized in kid gloves a term of three or four years as 
 clerk in some well regulated establishment, or perhaps 
 
98 How to make Money. 
 
 who has never seen the inside of any business ; A, is 
 anxious to see him do something for himself, and has 
 money. He inquires about, and the son looks around 
 also, to see if there is not some chance of business. 
 Some house already established hears of this amount of 
 money with a nobody attached to it, and being in want, 
 as most houses are who will consent to take a stranger 
 into their business, agree to the terms, and the young 
 man in kids becomes the tail-end of a sign in gilt, or 
 & Co., patched on by the skill of the sign-painter. 
 
 The man in kids has been informed how much his capital 
 will yield him of profits, and hence, as profits are made 
 to live on, he arranges, by means of boarding-house, 
 livery-stable, and the like, a basis of expenditure corre- 
 sponding with the golden bait held out by the former 
 firm. The capital put in is speedily dispersed to pay 
 borrowed money and such-like little arrearages of the 
 firm, and the balance runs smoothly into paying the first 
 notes which become due for merchandize already sold 
 and lost. The new firm obtains new credit, more goods 
 are purchased than ever, more business is done, and the 
 books show heavy gains. The young man in kids re- 
 ports the result to his delighted father, and the swollen 
 income of the young man makes him at once a prodigy 
 in the family, and a speculation among the dowagers who 
 are looking out a suitable match for their daughters. 
 His society becomes sought after, he is invited to dinners, 
 balls, parties, and evening sociables ; and finally finds him- 
 self engaged, then married. All are delighted ; money 
 flies right and left ; for, from appearances and from what 
 the book-keeper reports, after all such abatements of in- 
 come there is a large balance left. No one need be told 
 that the affairs of the firm soon become involved ; a general 
 
How to make Money. 99 
 
 smash-up takes place ; and the members, after a year 
 or two spent on what little money each could gather from 
 the crumbling ruins for immediate want, then either take 
 up some new business, or, profiting by sad experience, 
 begin anew. 
 
 This is but one phase of embryo mercantile life, and 
 may be regarded as an extreme one; but the formula 
 will answer for almost any unsuccessful case by making 
 substitution of other states of life and circumstances. If 
 ignorance be substituted for the kid-gloves in this formula, 
 a still larger class of failures will be portrayed, and so on 
 with the entire catalogue of qualities which insure the 
 same result. There are, however, cases of failure having 
 few of these elements in them. Firms may be prudent, 
 careful, and successful for a series of years, and then be 
 borne down by misfortunes apparently beyond their con- 
 trol. As a means, however, of money-making, certainly 
 no surer business can be found if properly conducted. It 
 is based in the necessities of life, and money and profit 
 must flow out of it. The manner of conducting it 
 rightly is alone necessary to be known, and when known, 
 followed, and success will attend in almost every instance ; 
 the exceptions will be so few that they may be set down 
 to incompetency. 
 
 The direct cause of mercantile failure can in most, 
 cases be traced to the banks with which they do their 
 business. This is a serious evil ; but there is no remedy 
 for it except in the individuals engaged taking proper 
 views of the initiatory steps. The firm opens an account 
 with a bank or banks, and deposits all its spare funds. 
 As long as the surplus funds last the bank will lend on 
 good paper presented, and sometimes longer. The mer- 
 chant, manufacturer, or mechanic, soon bases his course 
 
IOO How to make Money. 
 
 of business upon the implied and possibly agreed upon 
 amount or line of discount. New enterprises are gone 
 into, legitimate in their nature, but requiring a little more 
 money than anticipated, and the balance in the bank ac- 
 count is reduced. The argus eye of the president or 
 casnier lights upon the figures, and the application for a 
 new loan is refused. As helpless in the hands of the 
 banks as poverty, he is bound to seek money from other 
 sources ; he applies to an outside money-lender, and is 
 met with the singular question : Why will not your bank 
 do your paper ? Distrust seizes upon him, and now the 
 man must submit to a deep shave, and the piling on of 
 securities till he cramps himself, or else he must stop. 
 
 The bank, on the other hand, notwithstanding the im- 
 plied bargain, and the fact that he has paid all as yet, 
 finding that he is compelled to resort to shaves, concludes 
 that his paper is not safe, and finally runs out his dis- 
 count line. If he survives, and has been able to main- 
 tain himself, they grant him a new favor, and squeeze 
 him anew when the time comes. These repeated a few 
 times ruin the borrower, when he cannot succeed in 
 getting money outside or in the bank, and failure is the 
 consequence. The bank, however, cannot be said to be 
 in fault, for they are bound to be secure, though there 
 may be fault bound up in the transaction between the 
 parties which it is difficult to determine how far of right 
 it belongs to the one, or how far to the other. 
 
 These difficulties and dangers can all be avoided, and 
 the manner will be explained hereafter ; the point now 
 in hand being to show how the most money can be made 
 in every department of life the handling it after it is 
 made being quite a different trade. The one may be 
 well understood by a person, and he be successful, and 
 
How to make Money. 101 
 
 the other not understood in the first element, anc hence 
 success, failure, and poverty, go hand in hand through 
 life with the same individual. 
 
 How to make the most money out of every occupation 
 in life is a study. There are two great classes to be con- 
 sidered with this view, the employer and the employed. 
 The employers make money by the services of the em- 
 ployed, while the employed receive money for their ser- 
 vices to the employers. So far as making money, both 
 are governed by the same general principles. To make 
 the services of the employed valuable is the object of the 
 employers, and they make money just in proportion as 
 they are valuable for the money paid. While the em- 
 ployed should see to it that their services are as valuable 
 as the money paid, and if they are more so, they are 
 certain to be rewarded dollar for dollar. Hence it is the 
 object, or should be the object, of the employed to be as 
 valuable as possible to the employer. 
 
 How is this to be accomplished ? A merchant who 
 trades with you is in reality employed by you, and you 
 pay for his services by the profit you pay him on his 
 goods. Is it his interest to serve you well ? If he does 
 not, he loses your trade, and you go elsewhere. If he 
 deals dishonestly with you, it is not probable that you 
 will return to him to have it repeated. If he is uncivil 
 or impolite, disobliging or uncourteous, you feel piqued, 
 and lose your interest in him and in his establishment, 
 and you naturally look elsewhere to supply your wants. 
 If you find goods equally cheap, and sold by a nice, civil, 
 and attractive man, you will buy of him and leave the 
 other. If you find the first one's goods cheaper, and 
 enough so to pay you for dealing with an unpleasant man, 
 you may buy of him. 
 
102 How to make Money. 
 
 Now let us see what it costs the first man to be " un- 
 civil, impolite, disobliging, or uncourteous." This cus- 
 tomer may purchase, if at retail, $1,000 in a year, on 
 which the profit would be say $200. If he fails to sell 
 him by reason of a slight feeling in his breast, the mer- 
 chant would lose $200 at once. This, improved at com- 
 pound interest at seven per cent, for the ordinary term 
 of twenty-five years of business, would be the neat little 
 sum of $1,084. If he lost one customer of this kind 
 each year from the same cause, he would lose sixty-three 
 cents a day, which, by looking at the tables, if improved 
 at seven per cent, for the twenty-five years, would amount 
 to the splendid sum of $12,915 rather an expensive 
 amusement; while the pleasant merchant would in like 
 manner gain these sums respectively. 
 
 Then suppose we take the case of the wholesale mer- 
 chant dealing in correspondingly large sums. If he lost 
 the custom of a firm, amounting in a year to $15,000, on 
 which there was a profit of $1,500, he would lose, if that 
 sum be improved at seven per cent., in his term of twen- 
 ty-five years in business, $8,145 ; or if he did the same 
 every year for the twenty-five years in business, he would 
 lose the sum of $98,199. The reader probably thinks by 
 this time that this little element in business is worth 
 looking at rather carefully. 
 
 These calculations are based upon the supposition that 
 the uncivil and civil merchants sell at the same profit. 
 But every one knows that the latter can get more for 
 his goods than the former. The gain, therefore, of the 
 latter will be greater than the loss of the former. But 
 suppose we look at the case where one is compelled to 
 get the same amount of custom by taking off five per cent, 
 more than the other can sell for by reason of his attractive 
 
How to make Money. 103 
 
 manners. They both sell $100,000 per annum, one 
 making $15,000 and the other making $20,000. The 
 first wins in a 25 year business, by the tables, $47.92 per 
 day, making, improved at 7 per cent., $982,416 at the end 
 of 25 years, while the other makes $63.90 per day, which, 
 improved in like manner, gives $1,310,025, making a dif- 
 ference of $327,609, rather a large sum to lose by mere 
 mannerism, but by no means as large a sum as the civil 
 merchant would make in proportion. 
 
 No merchant can afford to be uncivil ; and from a 
 knowledge of how many are so in the transaction of their 
 business, can any one wonder why they fail when they add 
 this expense to the other expenses of life ? By the term 
 uncivil, as used here, is meant that mannerism in all busi- 
 ness intercourse which repels rather than attracts that 
 which leaves a barb rather than a pleasant and interested 
 remembrance. The more nearly the term, however, takes 
 its full force and meaning, or goes beyond that, the more 
 it becomes as an expensive amusement, and the nearer it 
 brings the employed, no matter who he may be, to failure 
 or greater loss of money. 
 
 The more you can, then, by pleasant and kind treatment 
 interest the employer in your business, the more naturally 
 he will be interested in the employed, and vice versa; 
 and mutual benefit in money will result to both. Let us 
 name a case which actually occurred in New York about 
 thirty years ago. 
 
 A country manufacturer came to the city to purchase 
 metal to be used in his business, and, being dressed in 
 rather a rough garb, was not in his personal appearance 
 very prepossessing. But as he always paid cash for what 
 he purchased, and being rather abrupt and eccentric in 
 his way, he did not pay much attention to style. He went 
 
 5 
 
104 How to make Moiicy. 
 
 to one of the largest metal houses in the city and inquired 
 the price of the material he wanted ; the seller, supposing 
 that he was some retail customer wanting to know the 
 wholesale price in order to govern a small purchase, 
 asked the retail price. The manufacturer said he wanted 
 to know the price of a quantity. The merchant asked 
 him how much he wanted. Becoming a little piqued, the 
 manufacturer said, " That is my business." The merchant, 
 still feeling that the countryman was only asking out of 
 curiosity, set his price, and the manufacturer departed, 
 never to enter that store again. Both houses are still in 
 existence, the older members having died, and other part- 
 ners and younger men carrying on the business. 
 
 Now let us examine this case, for it is a large one. For 
 the whole time since, the country manufacturer has pur- 
 chased on an average $40,000 worth of materials yearly, 
 every dollar of which this New York house could have 
 sold him if they had done so at a right price ; and as he was 
 a close buyer, could probably have made 5 per cent, and got 
 the cash. By this little trifling affair that house lost 
 $2,000 a year for 30 years ; and if that sum had been 
 saved and improved at 7 per cent, during that time, it 
 would now amount to $196,401 ; rather an expensive three 
 minutes' talk, springing from ignorance and incivility. 
 
 No man in business or money-making can tell what 
 word or action may make him or lose him money. No 
 one will make, in all probability, by chafing those who 
 come in contact with him, while he may lose largely by 
 it. The most important principle in money-making is to 
 deal with every one in such a manner that he is satisfied 
 and pleased. If you have done this to one, you have laid 
 a train of influence, advertisement, and interest, wherever 
 he goes ; for it is as natural for persons to speak well 
 
How to make Money. 105 
 
 of any one, or of any establishment, that has served them 
 well, and in which they are interested, as it is for water 
 to run down hill. To advertise to accomplish the same 
 end would cost much money, so that your mannerism or 
 action may not cost you anything to satisfy and please ; 
 while you make dollars by securing an influence that will 
 bring you money from every quarter of the compass. If 
 you want to make money, don't read this and forget it. 
 When one has made a fortune he may do such things, but 
 even then he may lose in like manner. An instance as 
 an illustration, occurred in the lower part of the city about 
 1 839. A fire occurred, and extended to a large warehouse 
 owned by a close-fisted, grinding rich man, about as 
 crabbed and ugly as he well could be. The fire was just 
 taking in an upper story by heated iron window-shutters, 
 and, it was believed, could have been easily extinguished by 
 the firemen. Calls were made for an engine-pipe, when 
 one of the firemen cried out : " This is old S.'s store ; let 
 her burn." Whether this was the cause or not, no one 
 could tell ; but the warehouse was consumed without 
 insurance, at a loss to the crusty old gentleman's estate 
 of $30,000. 
 
 We could go on and give you instances without number 
 where heavy losses, and even fortunes, have been lost or 
 not made by some apparent immaterial act or word which 
 at the moment would pass unnoticed. These, however, 
 are the straws of the money-making life ; and, important 
 as they are in themselves, there are a thousand and one 
 other items which conduce more or less to the same end. 
 As general rules, the following may be laid down as the 
 more important : 
 
 First. A settled character for sobriety, honesty, in- 
 dustry, veracity, and trustworthiness. 
 
106 Hozv to wake Money. 
 
 Second. Pleasant, agreeable, and attractive manners ; 
 never repulsive, civil without fawning ; dignified, without 
 reserve ; and an even temper, never allowing it to be 
 ruffled in a business transaction. 
 
 Third. S'tudy the interests of those you deal with as 
 well as your own, and let them see and feel it, as that will 
 secure a repetition of transactions, or bring business 
 through those with whom you deal. 
 
 Fourth. Be the most skilful in your calling, summon- 
 ing to your aid to accomplish this end the knowledge of 
 others which can be gained by reading, conversation, or 
 observation ; remembering always that knowledge and 
 its application with skill is the most profitable quality 
 which you can possess, and that every new idea you 
 acquire and use well, will be, without doubt, a dollar 
 in your purse, gained or not lost, and possibly many 
 more. 
 
 No one can fail in this country to make money who 
 can gain employment and* continues in it honestly and 
 industriously. It is the easiest part of acquiring an 
 independence or a fortune. The most difficult is the 
 investing and saving, by which, what you do make shall 
 be safely and surely set to work making more. As the 
 reader will perceive, the moment he has money to invest 
 and set at work he wants knowledge which he has not 
 probably gained in his business. For how can the 
 laborer, who has never seen the thing done or done it, 
 be expected to know how ; or the carpenter, who has 
 shoved his plane for years to know how to do that well, 
 be supposed to know the business of a financier or 
 banker, which takes a like apprenticeship and extensive 
 knowledge to acquire. To know that you do not know how 
 to do the business of a banker, if you have not been 
 
How to make Money. 107 
 
 educated to it, is the first and all-importatit idea in saving 
 what you earn. It is like the child who would be as apt 
 to play with live coals as he would with his toys, if he 
 had not been told they would burn him, or learned the 
 lesson by experience. 
 
 The old and familiar adage, " Every one to his trade," 
 applies in this case with astonishing force. And, reader, 
 do not suppose for a moment that it applies simply to 
 the laborer or mechanic. All, or nearly all who make, 
 are ignorant of the trade of investing and making money 
 with money. The intelligent merchant may know how, 
 but, alas ! how many failures do we see in this line of 
 business ; not failures to make money, for they univer- 
 sally make money, but the trouble lies not in that but in 
 the values of what they invest it in after it is made or 
 while they are making it. 
 
 Then, when the reader has been told to beware look 
 out, when he has made a dollar and that his danger 
 begins just here and nowhere else, he will have learned 
 the most valuable lesson of his life in money-making. 
 There is no fear of employment there is no fear of get- 
 ting business selling goods or doing a money-making 
 business in what you undertake ; all the danger and 
 trouble lies in parting with your money or your valuables 
 to increase and make more. And if you read this book to 
 gain knowledge of how to accumulate, stop right here, 
 read the last page over and over and over again, and you 
 will know where all the trouble lies why you have not 
 made a fortune, if you have not ; and you can put your 
 finger on the very spot where you have failed or will fail, 
 if you do. The remedy will be shown hereafter. 
 
108 How to make Money. 
 
 CHAPTER VII. 
 
 MANUAL LABOR. 
 
 Underlies all. Great motor. Value varies. Good to make money. 
 Dollar a day. Big result. Calculate independence. How 
 much. Laborer's interest. Advancement. Great banker. 
 Porter. Sweep out Use. Shine somewhere. Supply and de- 
 mand. Merchants' combination. Brings competition. Loss 
 results. Qualities vary. Sell first Sell next. Trades-Union. 
 All labor same value. Business stand-still. High prices. 
 Complain of landlords. Don't see it. Values will tell. Peo- 
 ple want work. Will have it. Trades-Union or no Trades- 
 Union. Labor threatens capital. Capital replies. Remedy. 
 Poor distressed. Business leaving. Find level. Managers 
 should see it. Conflict coming. Ground swell. Land trem- 
 ble. Best get work. Poor none. Best win. Poorest lose. 
 Who discharged. Agreement. Very nice. Roped in. 
 They will see it. Cunning plan. Poor, poorer. Rich, richer. 
 Rectify itself. Capital must buy. Conflict. Capital live. 
 Labor yield. Money made. Good business. 
 
 This class of labor underlies the whole active structure 
 of society is the bone and sinew of the nation, and the 
 foundation of its wealth. It feeds and clothes all it 
 builds our houses, works our lands, digs our canals, 
 threads our railroads, makes our ships, moves on our 
 factories, machine-shops, and commerce. It is the great 
 manual motor which is to society what steam is to the 
 engine. Like other kinds of labor, its value depends 
 upon its quality, and that depends upon knowledge and 
 skill. The laborer, no matter in what he may be em- 
 ployed, has the means of making money in two ways : 
 first, by his labor, no matter what its quality ; second, by 
 
How to make Money. 109 
 
 increasing the value of his labor by the application of 
 knowledge and skill in his business. Though there is 
 manual labor performed by every one in some shape or 
 another, the term manual labor here is intended to apply 
 to those who labor for wages. 
 
 As a means of making money, considering everything, 
 it is quite as good as any other. The results may not 
 be as great ; but, on the other hand, the wants and 
 necessities are not so great as in the more extravagant 
 walks of life. It can be easily shown that the laborer by 
 skill and a proper economy can have more money at 
 fifty years of age than the average of merchants. But 
 if the merchant would in a parallel way pursue the same 
 course which the laborer would have to do to accomplish 
 this, the merchant would have the most, undoubtedly. 
 
 Let the laborer look at the tables of earnings, and 
 see what he will have if he makes just one dollar a 
 day, and puts it in the savings bank, and it is improved 
 at six per cent, for thirty years, or from the day he is 
 twenty till he is fifty years of age. It would amount to 
 $25,518, a very handsome fortune, and enough to sup- 
 port him handsomely the balance of his days without 
 labor. But, suppose he would wish to work on till he 
 obtained his independence from labor without wishing 
 for more, how is he to find out that amount, and the 
 way to do it ? He must decide how much he requires a 
 day for this end say two dollars. Then he has to gain 
 a sum that would, if placed at interest at six per cent, or 
 more, give just this sum. Then how long would he have 
 to work, at what rate must his savings be improved, and 
 how much would he have to save per day to accomplish 
 this interest of two dollars per day at six per cent. ? 
 
 The amount to be saved would be $12,167 ; now, by 
 
no Hoiv to make Money. 
 
 examining the tables of thirty years ; by saving sixty 
 cents a day you will have $12,770, if you have it 
 improved at five per cent. If you had saved fifty cents a 
 day, and improved it at six per cent., you would have 
 $12,759. ^ vou na d saved forty cents a day, and 
 improved it at seven per cent, you would have $12,302, 
 and your independence would be accomplished at fifty 
 years of age if you began working at twenty to this end. 
 By the same means any laborer, male or female, can 
 determine for themselves at what age they will say they 
 will achieve their independence, and such will save 
 accordingly ; and if good health and strength attend 
 them, they can accomplish it. If not, their little reserve 
 of money under these circumstances will in all probabili- 
 ty give them even more substantial comfort than the 
 independence when gained. 
 
 A laborer, if he knows his own interest, has every 
 incentive to make his labor most valuable by the acqui- 
 sition of knowledge and skill, and then to perform it in 
 the best way. By this means he will make money, and 
 in the direct ratio of its positive value. Then, by plea- 
 sant ways and obliging manners, and by taking an 
 interest in what he is doing, and letting his employer 
 see that he is taking an interest in his interests, he 
 will always procure the highest wages ; remembering 
 always that he or she has the same opportunity of 
 advancement to higher positions in life, that others have. 
 One of the largest bankers in New York, who amassed 
 in his day one of the greatest fortunes, commenced as a 
 porter, and for some years swept out the very banking- 
 house which he afterwards managed with ability and grand 
 success. The instances are not few, but many, where 
 mere day-laborers have, by industry, perseverance, and 
 
Hozv to make Money. Ill 
 
 skill, risen far above their former employers in wealth 
 and position. In truth, it makes but little difference 
 where the industrious, honest, frugal, and persevering 
 start in life, they will shine out somewhere, their quali- 
 ties will bring their reward sooner or later, and espe- 
 cially in this country, where all have an equal chance. 
 
 The price of labor varies like every other commodity, 
 and has its market value. This depends upon the 
 supply and demand. The best rule for a retail merchant 
 is to work on low profits, as this will bring the largest 
 result in the end. The same rule is a good one for the 
 laborer ; work at a fair, not an exorbitant price, and you will 
 get constant employment, as the trader will get constant 
 trade. If the traders combined and put up the price oi 
 their goods, and said they would not sell without they 
 received a larger profit than competition would establish, 
 it is plain to see the result; Other merchants would be 
 found who would open stores, and sell when they could 
 make a profit ; and those in the combination would be 
 compelled to keep their stores open and pay their own 
 expenses and make nothing, while the others not in it 
 would sell all the goods make their own expenses, 
 besides making a profit. 
 
 Thus, again, suppose they were all to combine to sell 
 any one article at a given price, say hops, butter, pork, 
 or any other article. As any one. knows, these articles 
 vary in quality ; and the consequence would be that the 
 merchant who had the best pork or the best butter 
 would sell all the pork and all the butter, and the mer- 
 chants who had nearly as good would sell none. In 
 order, then, that all the merchants could sell alike they 
 would all be compelled to keep just the same quality of 
 goods. But every one knows, goods of the same kind 
 
 5* 
 
1 1 2 How to make Money. 
 
 vary in quality, and the undertaking would result in just 
 this the good would be sold first, the poor next, and pos- 
 sibly be left on hand to perish. 
 
 Demand and supply in labor must be governed by the 
 same principles of prices as reign in every other depart- 
 ment of usefulness ; and to endeavor to regulate by any 
 other rule will lead to loss of money in the end. Trades- 
 Union Societies have been formed in this country to 
 regulate the price of labor in the various occupations by 
 a set-up price for a day's labor, or for doing a certain 
 amount of work. The result is, that prices of labor have 
 been advanced to such an extent that capital does not 
 find it profitable to employ it ; hence many of the me- 
 chanical interests in this country are at a stand-still. 
 Few new buildings are being erected in New York, and 
 the prices of rents are enormous. The very mechanics 
 who have checked the erection of new buildings for their 
 own accommodation, complain of the landlords for ad- 
 vancing rents to a point which makes it almost impos- 
 sible, even with the high prices of their labor, to pay. 
 
 The moment one department of business, and espe- 
 cially such an important one as labor, is disturbed by a 
 combination of price, every other dependent upon it will 
 in like manner be disturbed temporarily. But as in the 
 case of the combination among the merchants to advance 
 the price of their goods, there will soon be found others 
 who will come into the market to sell at a profit ; and 
 when the merchant has found that he cannot sell at the 
 higher price in competition with the new-comers, he is 
 compelled to go back to the old mode. But when he 
 attempts this he finds double the number of competitors ; 
 and as just so much and no more goods can be sold, he 
 discovers to his great detriment that he has a heaviei 
 
How to make Money. 113 
 
 competition than he ever had, and in order to sell, must 
 cut under to get custom. This all requires time, but will 
 as surely come as that people want goods. 
 
 The same with the high prices demanded by the trades- 
 union. There are a great many people in this country 
 who want labor, and will have it ; and if they are not in 
 the country now, there are thousands in neighboring 
 countries who, being ground down in prices there by 
 surplus population, are waiting an opportunity for em- 
 ployment at fair prices anywhere they can get them. 
 They will rush to any point where employment can be 
 had, trades-union or no trades-union ; as necessity 
 knows no law ; they will earn where they can. There is 
 any amount of work to be done at fair prices ; but capi- 
 tal is a close calculator, and generally will not pay double 
 price for anything, or more than he can find profit in 
 doing. Labor may stand, and say to capital : " You can't 
 do without me." Capital can say with more certainty : 
 "You can't pursue your trade to a profit without 
 me." And the spectacle in this country is just this 
 now. 
 
 The remedy is simple, as it would be in the case of 
 the combination of the merchants. Capital has simply 
 to say to labor, we will buy you on the same terms as we 
 buy other things ; price being regulated by supply and 
 demand, and at the market value. We will not patronize 
 or buy of the merchant who combines with his neighbors 
 to sell flour, or butter, or bread, at thrice its value, be- 
 cause it affects the -poor as well as the rich. Nor will we 
 have our work done by any one who hires a trades-union 
 man, because he is combining with his neighbors to sell 
 his labor for more than it is worth in the market, and 
 thereby creating distress among the poor by locking up 
 
114 How to make Money. 
 
 capital and preventing the circulation of money that 
 otherwise all could use to advantage. 
 
 For these reasons, and others combined, our ship- 
 building is leaving the country ; our building, and other 
 improvements, are greatly checked, and our labor de- 
 pendent upon these as collaterals is by no means in a 
 healthy condition ; and as a result, the poor are made 
 poorer and are distressed. This state of things will con- 
 tinue and grow worse, until things find their level in 
 supply and demand upon equitable principles. There 
 are many able men and strong minds guiding these 
 trades-unions, and it is to be sincerely hoped that their 
 better senses and good judgments will abandon in time 
 these impracticable principles, and guide the minds of 
 those whom they control to a just appreciation of their 
 own interests and the interests of all concerned. A con- 
 test of strength between capital and labor in this country 
 carried to a point that would be effective, would probably 
 produce results little dreamed of by any. Though if 
 this state of things continues, it will come with a cer- 
 tainty of the rising sun, not from capital itself, for it can 
 live on other sources of profit, but it will come in a ground- 
 swell of the poor wanting bread, that will make the land 
 tremble. 
 
 Combinations to regulate prices never have succeeded 
 and never will. By peculiar circumstances combinations 
 can be made temporarily successful ; but the laws of trade 
 and of interchange are deeper laid than these, and as cer- 
 tain as effe6l follows cause these laws will remain for ever 
 the same. No, sooner will the sun rise in the west or gra- 
 vity act upwards, than that the great principle of supply 
 and demand fixing prices will be overturned by combina- 
 tions. Trials may be made to do it, but they will end, 
 
How to make Money. 1 1 5 
 
 as all history teaches such attempts have ended, in 
 failure. 
 
 As a mere money-making plan these trades-unions 
 defeat their own object. The first-class mechanics are 
 benefited by them, while those who are not first class 
 are directly the losers. When there is work enough for 
 all, and capital can make his profit, if the maximum 
 wages are obtained by all, that is, the best mechanic gets 
 as much as he could if there was no combination, then 
 the lower grades get more than their labor is worth, 
 while the best get just what theirs is worth. Now, 
 somebody is wronged by paying more than he should, 
 and common sense teaches that such a system cannot 
 stand. But suppose capital finds that it cannot make 
 which it soon will find by paying more than a thing is 
 worth, what then ? Some one must be discharged will 
 it be the best mechanic or the poorest ? Certainly the 
 poorest. But suppose capital finds still further that it 
 cannot yet keep all at work profitably, what then ? Why, 
 the next poorest will be discharged, while the best will 
 still retain work, and will retain it as long as any one is 
 employed. 
 
 From this it will be seen that, under such an arrange- 
 ment, the best mechanics always get employed, while 
 the less skilful, or possibly the less favored, get it only 
 when there is work enough for all, which seldom hap- 
 pens. The less skilful are gratified to have their ser- 
 vices put on an equality in price with the most skilled, 
 and hence they join, while in reality they are kept out of 
 employment, because without capital is compelled to 
 give more for their services than they are worth, they 
 will not be employed at all. Nor can the less valuable, 
 under such a combination, compete at all with the most 
 
1 1 6 How to make Money. 
 
 valuable labor of the kind. The result is, that it is a 
 one-sided bargain in the Trades-Union the least skilled 
 agreeing to keep out of employment and let the more 
 skilled get the work, except there be work enough for all. 
 This is all very well for the shrewd ones, but not so nice 
 for those who are roped into it on the idea that one man 
 is as good as another, and one man has as many friends 
 among the bosses as another. But if all were allowed to 
 enter the market and sell their labor for what they could 
 get for it, the one who was one-quarter less valuable as 
 a mechanic or laborer could get employment at that 
 price as soon as the. best, while now he has to stand 
 back and let the best have work at all times, and wait till 
 a chance comes when there is more work than they can 
 do, and then he gets employment. 
 
 It is a cunningly devised plan to lessen competition 
 against the most skilful mechanics and laborers ; and be 
 assured they will be found, if inquiry be made, to be those 
 who were the getters-up of the plan, and who are now 
 its strongest supporters. It crushes out the weak, and 
 makes the strong, stronger. In other words, it makes 
 the poor, poorer, and the rich, richer. Such things have 
 been attempted before, but sooner or later the weak have 
 found out the trap into which they have fallen, as they 
 will do in this country, and the difficulty may rectify 
 itself. On general principles, any combination that will 
 undertake to make capital pay more for one man's labor 
 by half or a quarter than it is worth, will simply prevent 
 capital from buying. Nor is there power enough in labor 
 by any combination to force capital to purchase ; and if 
 the struggle ever comes to that, it will be found that 
 capital will survive while labor must yield. 
 
 However, as a money-making business, it affords an 
 
How to make Money. 1 1 7 
 
 opportunity for all who can get employment to gain an 
 independence. No matter what grade of skill the me- 
 chanic or laborer may possess, he can always gain em- 
 ployment at some price ; and, generally, steady work at 
 moderate prices will in the long run produce the most 
 money. The tables of earnings will be useful for any 
 laborer or' mechanic to study, for they will show them 
 how small earnings, properly cared for, will soon place 
 them in independence, and, if continued, will lead to 
 fortune. 
 
Il8 How to make Money. 
 
 CHAPTER VIII. 
 
 APPRENTICES. 
 
 Meaning. How treated. Knowledge acquired. Intermediate 
 steps. Farming apprentices. What kind of knowledge. 
 Study, land, and productions. Use of tools. How can I make ? 
 Bound out. Spends half. Makes a farm. Independent. Can 
 make a fortune. Mechanical and manufacturing apprentices. 
 Good prospects. Sought after. Important principles. To-day 
 and to-morrow. Good pay. Object. Disagreeable people. 
 No employment. Manners make money. Equal to trade 
 Never lose a friend. Higher motives. General character 
 Personal attention. Makes money. Reader may too. Line 
 upon line. Work tires, but makes money. Merchant appren- 
 tices. Not bound out Higher pay. Dress more costly. 
 Same labor same value. Where doing best. Too soon. Too 
 late. Story. Boy nailing box. Prediction. Richest in New 
 York. Straws show wind. Wind moves straws. Hands in 
 pockets. Leaning on goods. Door post. Conclusive. 
 Where begins, where ends. Services and pay. Pleasant man- 
 ners. Tricks in trade. Carbuncles and cancers. Sure dis- 
 covered. Character crystallizing. Blemishes. Mis-steps. 
 Widen. Disagreeable partner. Under man. Deceitful. 
 Acrimony. Taking advantage. Better leave. Yelping curs. 
 Refiners skimmer. Honorable gentlemen . Student ap- 
 prentice. Prospects in life. Great strife. In one hand, out 
 the other. Down-hill side of life. Labor accumulated. 
 
 An apprentice, in its strict meaning, is one who is 
 bound by a covenant, to remain with another for a cer- 
 tain period, in order that he may obtain a knowledge of 
 an art or trade. But the term, as used here, is intended 
 to include all who are acquiring the knowledge of an art 
 or trade, whether bound or not. In every department of 
 industry they have different kinds of knowledge to ac- 
 
How to make Money. 119 
 
 quire, and hence what would be useful to one, would be 
 of no use in the other. The money compensation during 
 the term of apprenticeship is very small ; and generally 
 no charge is made in advance, as is the case in some 
 countries. There are two intermediate steps to the prin- 
 cipals in mercantile business the apprentice and the 
 clerk; in the mechanical and manufacturing trades 
 three the apprentice, the journeyman, and the fore- 
 man ; in the farming and growing two the appren- 
 tice and the day-laborer ; in the intellectual one the 
 student. 
 
 The farming and growing apprentice should have a 
 good common-school education, that he may be able to 
 read understanding^ works on agriculture, and be able 
 , to find out the best implements used, the best grains 
 known for profit, the composition of soils, what they 
 require to raise various kinds of grain, that the proper 
 manures may be applied. He should know the most 
 marketable stock, study their natures, and the diseases 
 to which they are liable, and be able to know what dis- 
 ease any animal has by inspection, and know the remedy. 
 In truth, he should study and understand all that can be 
 known about land and its productions, and about stock 
 and their most profitable productions. Then if the land 
 becomes unproductive he will know what remedy should 
 be applied. He should also become acquainted with the 
 use of tools, should in truth have a set, and use them, for 
 he will find that by their use upon a farm he will save 
 and make many a dollar. A farmer can find implements 
 that he can make in weather when he cannot work out- 
 doors, and the sum total of their value in the course of a 
 few years will amount to a large sum. In fact, to be 
 handy with tools upon a farm is about as necessary as to 
 
120 How to make Money. 
 
 know how to work it, provided the farmer intends making 
 the most money by his opportunity. 
 
 " But," says the farming apprentice, " I can make no 
 money ; what encouragement is there for me ? " 
 
 If you are bound out to the farmer till you are twenty- 
 one, there may not be much money to be made till after 
 that time, though generally the apprentice has a small 
 set-out at the end of his time. But there is no business 
 which does not require knowledge and preparation to 
 carry it on ; and in this respect this business does not 
 differ from any other. Although the apprentice is not 
 making dollars in hand, he is accumulating a capital in 
 knowledge and skill, which is the same thing in another 
 form, and will bring him the money in time. In case, 
 however, the apprentice is not bound, but receives com- 
 pensation, he has an opportunity to make. If, then, he 
 commences at fifteen years of age, and gets ten dollars a 
 month on the average till he is twenty-one, he can make 
 some money. With care he can clothe himself and have 
 all the necessary comforts on half that sum, leaving $60 
 per annum as the net earning. This, accumulated and 
 improved at seven per cent, for the six years, will amount 
 to the neat little sum of $407 ; enough to make a hand- 
 some payment on a farm if he would wish to do so. If, 
 however, he would wish to continue to hire out, and if he 
 has done all he could to make his services valuable while 
 an apprentice, he can get $20 per month, if not more ; 
 and if he spends half his wages he will have, if he con- 
 tinues to work till he is thirty-one years of age, at the 
 same rate, $2,484, by improving his $407 at compound 
 interest, and his earnings for the ten years at seven per 
 cent. 
 
 This amount will buy a comfortable farm, and the 
 
How to make Money. 121 
 
 apprentice at the age of thirty-one is an independent 
 man ; for a man is independent who owns the farm he 
 lives on. And it may be remarked here in comparison 
 that not one in one hundred has this amount at command 
 earned by themselves at that age. And if this young 
 man should put this at interest at seven per cent, or into 
 a farm that would yearly produce this amount, he will find 
 the truth of the comparison ; and even more than that, 
 when compared with men at the age of say seventy-one 
 years. For he will see by the tables of compound interest 
 that this sum will be in forty years, that is when he be- 
 comes seventy-one years old, $37,185.48; and if in the 
 meantime he had been able to earn one dollar a day off 
 the farm as his profit, and improve it in like manner, he 
 would make in cash in this time by that $65,621, which, 
 added to the first sum, would make his total earning to 
 that time $102,806.48. It is safe to say there is not one 
 in a thousand who has this sum at that age. This ex- 
 ample is given to show the farming apprentice that his 
 occupation is well chosen when he can make more than 
 nine hundred and ninety-nine in one thousand of the 
 average business men, besides having an occupation 
 highly reputable and respectable, and entirely independ- 
 ent. This branch of the subject is further continued 
 under the chapter of " Farming and Growing." 
 
 The mechanical and manufacturing apprentice takes 
 in a wide range of employment in those businesses. In 
 these the system of binding boys out for a given term is 
 more common than in the apprenticeship at farming. 
 The compensation is very small, but the chances of 
 learning a trade at which good wages can be had at the 
 end of the apprenticeship, make such positions sought 
 after as a means of getting a living, of making money, 
 
122 Hozv to make Money. 
 
 and of advancement, to become principals in the busi- 
 ness. There is on this account competition to gain 
 places as apprentices, for they are sure footholds for the 
 future, as well as an immediate means of support. 
 
 There are some very important principles which apply 
 equally to all apprentices. Each should understand that 
 he has a future, and although he gets his living and a 
 little more at the present, his hopes of higher pay and 
 higher place lie solely in the future. They, in truth, 
 work to-day for what they are to receive for to-morrow. 
 In what way, then, are they to secure the most money ? 
 And this is the great question. They will see at once 
 that if they learn nothing, they may reasonably expect 
 to get no more than they do as an apprentice. If, on 
 the other hand, they make themselves good tradesmen, 
 they will get good tradesmen's pay ; and as the trades- 
 men's pay varies according to quality, to be of the best 
 quality is to get the most pay possible from the em- 
 ployment. 
 
 The object, then, of every apprentice should be to 
 acquire the most knowledge and the most skill he can, 
 and this will secure him the most money, provided he has 
 other qualities which will not detract from his ability to 
 get the price. There are some people so disagreeable in 
 their manners, and make those around them so uncom- 
 fortable, that they do not get employment at all. Hence 
 it will be seen that such qualities will lose the most 
 skilled mechanic money, and the reverse if he possesses 
 opposite qualities ; they make money for him because 
 they do not prevent his getting the real value of his 
 services. The apprentice, then, should see to it that he 
 does not destroy the value of his prospects by bad be- 
 havior, ill manners, or a churlish way ; but on the eon- 
 
How to make Money. 123 
 
 trary, to study manners, pleasant and agreeable ways, 
 endeavoring to make all with whom he may come in 
 contact friendly towards him and personally interested 
 in him. Depend upon it, he will make money as fast this 
 way as by the knowledge and skill he is acquiring in his 
 trade. 
 
 As a means of doing this, he should read, study, and 
 acquire general knowledge ; make solid and good ac- 
 quaintances, then cultivate them. Never lose a friend, 
 if possible to avoid it ; that very one may be able some 
 day to throw a fortune in his way. Of course he must 
 always have a higher motive than the mere dollar to do 
 this, but remember that to neglect it may land him in 
 the poor-house. He has certain ends to accomplish in 
 life ; he can do so by any honorable means. His gene- 
 ral character, as he develops himself in life, has more to 
 do with success than he may imagine. Spare no pains, 
 young man, to make yourself beloved by your employer. 
 You take many turns of the body and motions of the 
 hands to do your day's work ; take but a hundredth part as 
 many to please him by little personal attentions, and be 
 assured you will, in the end, make more money by that 
 than by your labor. Do the same to every one with a 
 good feeling, and you will make still more. 
 
 The repetition of this principle so often may tire the 
 reader, but it matters not ; it is of sufficient importance 
 to be repeated on every page, nor even then would its 
 full strength be told. He must have patience, even 
 though the story be in " line upon line, precept upon 
 precept, here a little and there a little." It may tire, so 
 does work ; but still work must be done, and work makes 
 money. 
 
 The merchant apprentice has a wider field, with more 
 
124 How to make Money. 
 
 numerous opportunities of employment. They are seldom 
 bound to their employer, but receive a small compensa- 
 tion at first, which is gradually increased as their ser- 
 vices become more valuable. The compensation is 
 higher than in either of the former named, because the 
 expenses are in like manner higher from necessity. The 
 business to be done is of a different nature, requiring a 
 mode of living and dress more costly. As will be seen, 
 it would scarce be a money-making operation for the 
 merchant to place behind his counter a young man 
 dressed appropriately as a mechanic or manufacturing 
 apprentice ; or as a farmer working the fields. The one 
 kind of clothing is abstractly just as good as the other ; 
 there might be money made by the one kind of dress 
 and lost by the other. It is on this account that any 
 difference exists between the prices of labor in one de- 
 partment of trade and another, where knowledge, skill, 
 and physical ability are the same in both. 
 
 An apprentice cannot be worth much to the merchant 
 without he is incited to labor from a consideration of his 
 own advantage, advancement, and the moral obligation 
 he feels himself under to do his duty. If he takes no 
 interest in the inside of the business he had better' be 
 outside altogether. If his thoughts and feelings are else- 
 where, his employment had better be there too. In order 
 that the apprentice shall make the most money for him- 
 self and his employer, his mind and thoughts should be 
 concentrated upon his duties, and he will know when he 
 is doing the best by experiencing a high pleasure in his 
 occupation, in feeling that night comes too soon, and the 
 time to resume in the morning comes i:oo late. If he 
 can bring about these feelings his success is certain. 
 
 There is, too, a certain something about the conducl 
 
How to make Money. 125 
 
 of the apprentice that foretells the final character. As 
 an illustration : A man of great observation and a clear 
 scrutinizer of character, was one day in a hardware store, 
 and saw a lad trying to nail up a box of goods. He 
 tugged away at it for a time, never minding what was 
 passing around him. He had nearly completed nailing 
 on the cover, when the nail that he was driving flew into 
 a pile of hinges which lay on the floor close by. The 
 boy stepped to the pile, looked for an instant, but not 
 seeing the nail, stepped back, laid down his hammer, and 
 deliberately went to work unpiling the hinges to get the 
 nail. He succeeded, replaced the hinges, then drove the 
 nail home to its place, muttering to himself as he did so, 
 " Served me right ; I shall be more careful next time." 
 The gentleman remarked to himself, " That boy will be a 
 rich man if he lives.'' In thirty years he was the richest 
 man in his line of business in New York. 
 
 It was not so much the trifle of the nail, or of any of 
 the attendant circumstances, that led the gentleman to 
 conclude what he did. But " Straws show which way the 
 wind blows," and as a converse to this proposition it 
 might be added that the wind shows what way straws 
 will go. The manner in which a thing is done will re- 
 veal to an observing eye the train of mind which guides 
 it. And if an apprentice is seen standing around in a 
 store, where there are always a hundred-and-one things 
 that can be done to advantage, with his hands in his 
 pockets, or listlessly leaning upon a pile of goods, or 
 braced up against a door-post, he may be at once set 
 down as having no special thought on his business. The 
 straw shows which way the wind blows with him. If, on 
 the other hand, he is restrained from universal usefulness 
 and holds back from doing something because others in 
 
126 How to make Money. 
 
 the same establishment do not do it, he is a straw, and 
 the wind will show which way he will go. Others of 
 more mature age and higher position, would do Well to 
 reflect whether they show which way the wind blows, or 
 by a different course, pointing which way the aerial cur- 
 rent is running. 
 
 The custom in this country is such, in regard to mer- 
 cantile apprentices, that it is difficult to say at what ex- 
 act point this time ends and the clerk begins. But we 
 must content ourselves by saying that the apprentice 
 must be regarded as quite a youth, and before he has 
 attained sufficient knowledge and skill to enter into the 
 body of the business in the way of aid that is, before 
 he sells or takes an independent department, either at 
 the books, or in receiving, or shipping, or the like. In 
 order that the apprentice may know that what services 
 he does perform will all be paid for sooner or later, he is 
 referred to the case of the two salesmen cited in the 
 chapter, Fountains of Wealth. He will see there a 
 parallel to his own case ; and if he does not get the 
 value of his services this year, he is laying by in reserve 
 his earnings for another. For depend upon it, the im- 
 mutable law of value will stand in his case as it does in 
 all others. 
 
 Cultivate pleasant manners a frank, honest, open 
 face, and let it extend to the heart. Endeavor to impress 
 every man with whom you have dealings that you are 
 fair and just. Tricks in trade are carbuncles and cancers 
 upon the face of your success. Men will be as much afraid 
 of you with such guide-boards and signs, as they would 
 be of the things themselves. Nor flatter yourself that 
 your tricks will not be found out. Whether they are or 
 are not, they indicate the true character, and the cha- 
 
How to make Money. 127 
 
 rafter will show for itself. The character is just at this 
 period crystallizing see that no blemishes are imbedded 
 in it for all to look at who touch you in after life. A 
 misstep at this point, or a small dereliction from rectitude, 
 widens, to be greater and greater the further in life you go. 
 
 If you are sufficiently unfortunate to fall in with some 
 house who has a specially disagreeable partner, or an 
 under-man who has the confidence of the principals be- 
 cause he is sufficiently deceitful to accomplish his object: 
 of a high salary, and has sufficient acrimony to make 
 himself hated by every one else, be as cautious of him 
 as you would be of a robber. If he judges or imagines 
 that your talent may presently or remotely come in col- 
 lision with his, you are measurably ruined. You would 
 do well to leave at once. He will curdle and turn to gall 
 in the mind of your employer every act you may do, no 
 matter how well done. If he finds he cannot oust you 
 in any other way he will personally insult you, relying 
 upon your position and his strength to accomplish his 
 end. If you remain, he will increase his efforts till he 
 will destroy, by annoyances untold, your taste for busi- 
 ness and your desire to please. 
 
 Leave at once ; there are gentlemen enough to serve. 
 Such yelping curs are the ignorant, the scum which 
 comes up from below, to flourish upon the solidities of 
 others because it is their nature. These characters, after 
 a while, become known, and the refiner's skimmer con- 
 signs them to their proper element. But they have 
 lived long enough, possibly, to damage you. But be on 
 your guard for such obstacles in the way of your success, 
 and let no considerations temr3t you to intrust your 
 future fortunes and the formation of your mercantile 
 character to such a deformity. Look well to the charac- 
 
 6 
 
128 Hozv to make Money. 
 
 ter of those with whom you are to associate yourself, 
 and be not over anxious to get a place if you cannot do 
 so among honorable merchants and high-minded gentle- 
 men. There are very few cases such as has been named, 
 and many which are everything to be desired. 
 
 The student apprentice, like all the others named, is 
 laboring to acquire skill and knowledge of his intended 
 profession for like purposes. What has been said of 
 other young men of your age under this head, in many 
 respects, will also apply to your own case and to your 
 prospects in life. Every day brings its opportunity to 
 acquire knowledge, and when the day is gone that op- 
 portunity is gone also. If the young could only be 
 placed at the stand-point of experience in after life, and 
 look back upon the space now under treatment, how 
 differently they would view their opportunities. All are 
 striving for a living, and more ; and while they commence 
 life with strife, and end it generally in like manner, the 
 object for which they are all laboring is caught in one 
 hand and cast away by the other, in ninety-nine cases in 
 a hundred. Is it not then worth while for the young 
 apprentice to obtain some knowledge, among his other 
 acquirements, how he can do better in the world than one 
 in a hundred ? He studies everything to know how to get 
 money ; in other words, how to get the knowledge by 
 which he can get money. Has he ever studied how to 
 get the most with the knowledge he has acquired, and 
 the nature of the thing itself the reasons why it will 
 not stay with him, and why, after doing all that intellect 
 and perseverance could accomplish, he is still left on the 
 down-hill side of life, with just these in full action, and 
 cannot point to a single day's labor accumulated as the 
 evidence of what he has done ? 
 
How to make Money. 129 
 
 CHAPTER IX. 
 
 CLERKS. 
 
 Important class. How regarded. Compared. His latitude and 
 longitude. Large chance. Solid question. Rule for success. 
 Always a market. Examples. Spending don't increase value. 
 Habits. Bad loses money. Good makes. Confidence 
 gained. Reputation. Character. Not trustworthy. Loose 
 life, loose morals. Blocks advancement. Money loss. Choice 
 of cashier. Good habits make money. Justice cited. Splendid 
 honors. Selection of position. Reasoning a priori. Nothing 
 saved as clerk, nothing as principal. Makes profit and can 
 again. Double way of making money. Associates, friends, or 
 enemies. Too expensive. Conventionalities of life. Who 
 helps you. Who clings a dead weight. Who will you please. 
 Singular infatuation. Money spent to please others. Great 
 point. Choose for yourself. Consider chances. Two means. 
 Polite, affable, pleasant. Great question. Which offers 
 most. Calculation. Clerk makes $251,318. Compared. 
 Ambition. Business for himself. Close calculations. Be 
 modest. Mind your business. Make friends. Pleasant 
 smiles. Agreeable news. Costs nothing. Makes money. 
 
 Clerks form an important class auxiliary to the carry- 
 ing on the various departments of business. Some make 
 it a profession for life, aspire to nothing further than the 
 pecuniary value of their services, and are satisfied with 
 what that may yield ; others regard it as a species of 
 servitude out of which they hope to emerge to be prin- 
 cipals, in the hope of securing larger remuneration. 
 Such ambition is laudable, and is well in itself; but it is 
 quite certain that clerkships can be so managed finan- 
 cially as to result in an independence to every one and a 
 fortune to some, while the management of a business on 
 
130 How to make Money. 
 
 their own account in nineteen cases out of twenty, if not a 
 larger proportion, will result in neither. One has but to 
 look at the statistics of success in mercantile business to 
 prove this ; though all the statistics in the world would not 
 prevent the ambitious young man from making the usual 
 effort to acquire a sudden fortune. This being human 
 nature we must take it as it is, and endeavor to show 
 such the means of making the most money while clerks, 
 and the way to accomplish their ambition by the safest 
 path, and then to point out the hidden rocks in their 
 channel of life discovered by previous wrecked mariners, 
 freighted alike with ambitions and hopes, which have 
 long since sunk into poverty and distress. 
 
 But let any clerk on a fair salary, take his latitude and 
 longitude in life, and refer himself to the co-ordinates of 
 comfort and happiness enjoyed by principals, or even 
 men of fortune. If the reference be made candidly, 
 soberly, and with common-sense judgment, he will dis- 
 cover that his individuality is perfect, and that his chance 
 of making an independence is greater than that of the 
 average of business men who operate on their own 
 account, if not greater than theirs, in time, to make a 
 fortune. Not only that, but in the meantime he will, if 
 he is philosophic, take as much comfort in life, if not 
 more, than those who are in the way of making largely, 
 with the constant danger before them of losing all. 
 
 So that clerking, if rightly considered, is not only re- 
 spectable, but, considered in all the relations of life, honor- 
 able and profitable. Then the solid question arises, 
 How can the most money be made out of the situation ? 
 The answer to this question can easily be given, and it 
 only remains for such individual to make practical use 
 of the information, which may or may not be new to him. 
 
How to make Money. 131 
 
 Your business, then, being to assist others to cany for- 
 ward their plans and operations for a certain amount of 
 compensation, two consequences result : " What amount 
 of assistance am I to give for the compensation ? " and, 
 " Will the compensation be equal to what I do ? " 
 
 Every business man who pays the market value for 
 the commodities he purchases, will in like manner find 
 that he will be compelled to pay for the value of these 
 services by the same rule ; if he does not, some one else 
 will ; and hence follows the rule, which is inevitable : 
 That services, like any other commodity, command in mar- 
 ket their true value ; so that the clerk has but one prin- 
 ciple to act on to get the most money out of his situation. 
 This constitutes the whole range of his business life, so 
 far as getting money is concerned, if he determines to 
 remain a clerk. 
 
 Many in this line do not know in what consists such 
 value, and if they do, neglect to use the information for 
 their own benefit, and possibly do not know how to pro- 
 ceed to accomplish the object if they know the fact. But 
 one thing may be assumed as true, that there is so much 
 demand for such valuable services, that the moment they 
 can be ascertained they always find a ready purchaser. 
 One example of this kind is cited on page 29 to explain 
 that in this lies the fountain of wealth to the clerk. 
 As will be seen by that case, the one was doing no more 
 than the other apparently, and each receiving the same 
 amount of money ; the value of the services of the one 
 became nearly twice as valuable as the other ; although 
 one spent all his income while the other spent only one- 
 third. From this it will be seen that spending money 
 does not necessarily secure increased income, but on the 
 contrary almost certainly decreases it proportionately 
 
132 How to make Money. 
 
 with those who are saving. Here, then, is a good lesson 
 how to make saving valuable ; and this brings us to a very 
 important feature in this matter. 
 
 Habits of living, as well as habits of life, generally have 
 a strong bearing upon the appreciation in which the 
 clerk is held by the employer, and the confidence he can 
 feel in him, and the security of trusting important mat- 
 ters to his care. So that the more loose habits a clerk 
 has the less he will be trusted, and his services will of 
 course be less valuable ; the fewer he has, the more as a 
 general rule he can be trusted, and the more valuable 
 will be his services. It may seem of little or no conse- 
 quence to a young man who is a clerk to be seen indulg- 
 ing in drink, in cigars, in billiards, or in debauching of 
 any kind, but the point is not as to the particular drink, 
 cigar, game of billiards, or a given debauch ; these will 
 probably not hurt him, nor may it lose him more money 
 than the simple cost, which may be a trifle, but it is the 
 character which the repetition of doing such things im- 
 plants upon the clerk, making him liable, if he is human, 
 to do worse. 
 
 No wise man in business would intrust such a clerk 
 with his heavy interests, although there are thousands 
 who do just these things that are as honest as the sun 
 to rise, and could be trusted with untold millions. No 
 one will deny that a loose course of life makes loose 
 morals, and no one can say when the effects will take 
 place. Nor is it intended here to preach a sermon on 
 morals, but to open the eyes of some who complain of 
 fortune, when they themselves have blocked her wheels 
 by such as they supposed innocent and comparatively 
 inexpensive amusements. They may never have cast a 
 thought that these things have retarded promotion, ad- 
 
How to make Money. * 133 
 
 vancement, or high salaries, but probably have blamed 
 their employers for being mean and close-ns,ted, and even 
 unjust, by giving to others what they supposed belonged 
 to them. 
 
 There is a positive money-loss in all these things, and 
 it is not alone confined to the clerk. If, then, the ques- 
 tion be brought home to the clerk himself, he will see the 
 force and truth of the position. You are the president 
 of a bank, or a large private banker, or a large wholesale 
 or retail dealer, and if you wanted a cashier with a salary 
 say of $5,000 per annum, would you select one with the 
 habits named ? Though he might be as quick as light- 
 ning, smart as the smartest, and as accurate as a multi- 
 plication table, it is easy to tell what you would do if you 
 were a man of sense, though you might have just those 
 habits yourself. 
 
 An instance can be cited. A young man now in busi- 
 ness (1867) was a clerk, and he had decided to enter busi- 
 ness on his own account. He had never tasted a glass of 
 liquor, smoked a cigar, or been addicted to the ordinary 
 habits of young men. He had been in business but a 
 short time when a friend of his had a son whom he 
 wished to place in business ; and such was his confidence 
 in this young man, from his general character, that he 
 gave his son $350,000 in cash, as capital, to join the young 
 man, and the concern is to-day doing a splendid business 
 on strictly business principles. Whether the young man 
 is any better or more capable than others addicted to 
 such habits is not the question to be decided here ; the 
 only question is whether such a characler inspires more 
 confidence than the other, and whether it would command 
 more money, out of which to make money, than the other 
 all other things being equal. 
 
134 How to make Motiey. 
 
 If these propositions are true, and it is believed they 
 cannot be denied, then high moral character, free from 
 what is called bad habits, is worth money to the possessor, 
 and hence money is macle through such means, and 
 directly too. 
 
 There is another question which bears very strongly 
 on the ability of a clerk to either become a partner of the 
 house he is in, or be selected as the managing man for 
 capital in a new one, or which will affect his credit start- 
 ing on his own account. If he has spent all his salary as 
 a clerk, why would he change from spending all his profits 
 when in business on his own account ? Reasoning d 
 priori he would. Will such a reputation secure him what 
 he wants and needs ? Probably not. But if, on the 
 other hand, he has shown himself competent to manage 
 his little mercantile affairs as a clerk to advantage, that is 
 to a profit, and has saved, is it not good reasoning to 
 suppose he would do a larger business well als.o ? , 
 
 In other words, would you select one to make profit 
 who never had done it ? Would you give as much for a 
 man to help you make profits who had never made a 
 dollar of profit in his life, as you would to the one who 
 had made profit by business, although the business was 
 small ? The proposition is self-evident ; and hence de- 
 duce that the clerk who has saved of his earnings is 
 worth more, and will bring a higher price in the market 
 than he who has not. For if a clerk 1 cannot take care 
 and nurse his own, he is certainly not so well calculated 
 to take care of another's as he who can and does. 
 
 This course of economy and saving is a double way 
 of making money. First you make it out of your own 
 little business as clerk, and then you increase the value 
 of your services by showing your capability to do just 
 
Hozv to make Money. 135 
 
 that which is the object of all business, namely, to make 
 profit by business. How, then, can the clerk expect 
 advancement, either to become a principal or have his 
 pay increased, without these things are studied and at- 
 tended to. Can we not see in this principle why so 
 many merchants fail in business ? 
 
 These habits and failings to save are mainly attribu- 
 table to what you call your friends and associates. If 
 you will examine yourself, you will find that naturally 
 you are averse to almost everything you do in this way, 
 or if not now, there was a time when you were. Who has 
 given you a taste for them, or if not a taste, who has in- 
 duced you to indulge in them ? The answer is simple 
 your associates. Then, is it not worth your while to 
 consider whether such associates, although they are 
 agreeable and pleasant, are not too expensive to you ? In 
 other words, can you afford so much money for just the 
 pleasure of this society, or rather the difference between 
 such society and that which might be equally agreeable 
 but not so expensive ? 
 
 The great trouble in all these matters, arises from the 
 constraints which the conventionalities of life throw 
 around the rising generation. They must do as every- 
 body else does, or they will be pointed at. This point- 
 ing will do no harm to any one, not even to his own 
 feelings, if he looks at it in the right light. Will it 
 reduce the salary of the clerk, or will it tend to increase 
 it ? Will it prevent his advancement, or will it accele- 
 rate it ? It will not rob him of a cent, but will put 
 dollars in his pocket. What motive, then, has he to 
 please those who are thus sapping the very foundations 
 of his wealth and future advancement ? Will they pay 
 your bills ? Will they give you a dollar ? Can they ? 
 
 6* 
 
136 How to % make Money. 
 
 No ; they are powerless to be a benefit to you, and clir.g 
 a dead weight upon your prosperity. 
 
 Then, who are your friends, and who your real enemies ? 
 Those who do not point at you, but approve of your 
 simple habits and saving ways ; can and will aid you with 
 money to' make money, and with advancement; while 
 those who do point will do neither for you, and will be 
 well satisfied if they can hold you up to ridicule. Will 
 you, then, please your friends or your enemies ? This is 
 the great question, and in its answer lie success and 
 happiness, or failure, want, poverty, and distress. 
 
 There is a singular infatuation about doing as others 
 do, but the philosophy of the thing is seldom thought of. 
 Money is generally spent more to please others than our- 
 selves. Those then who have the independence to make 
 themselves the standard, instead of bowing to the stand- 
 ard of another, have achieved a great point in money- 
 making, in being respectable, in being comfortable, happy, 
 and prosperous. Assuming, then, that the clerk has 
 sufficient independence to choose his associates, to live 
 to gratify himself instead of others, to make money in- 
 stead of squandering where nothing substantial is re- 
 turned, to cater for his own advancement instead of for 
 those who are a dead-lock in his way, has one of two 
 things to choose for himself whether he will make clerk- 
 ing his aim in life, or whether he will use that position 
 as a stepping-stone for entering business on his own 
 account. 
 
 By reference to the tables of earning, and an intelligent 
 consideration of the chances of success in mercantile life 
 from the statistics which have been given heretofore, the 
 clerk can determine as to his future destiny, or rather, 
 which he will choose. 
 
How to make Money. 137 
 
 If you determine the first course, you have only to 
 make your services of the greatest possible value. This 
 is accomplished by two means : 
 
 First. By a thorough knowledge of your business. 
 
 Second. By establishing a character for honesty and 
 trustworthiness. 
 
 You will then be able to procure what your services 
 are worth by being affable, polite, pleasant, agreeable, 
 social, and attractive to all with whom you come in con- 
 tact. Under all the circumstances of comfort, taking a 
 solid view of life, and the chances of that terrible con- 
 dition of want after plenty, which so many merchants and 
 principals in other businesses experience as a reward for 
 years of toil, it is doubtful whether the clerkship does not 
 present more attraction in the long run than entering busi- 
 ness as a principal. Let us examine the matter a little. 
 Suppose we assume an instance of one who receives the 
 following rates till he is sixty years of age, and see what 
 the result is, compared with the average of success by 
 merchants : 
 
 From 1 5 to 20 years, average, .... $500. 
 
 From 20 to 25 " " $1,200. 
 
 From 25 to 30 " " .... $1,800. 
 
 From 30 to 40 " " $2,500. 
 
 From 40 to 50 " " .... $3,500. 
 
 From 50 to 60 " " $5,ooo. 
 
 Now suppose he spends one-half of his salary each 
 year. By the tables he will have at sixty years of age 
 $251,318, compounding and improving savings at seven 
 per cent. How many large merchants have this at that 
 age, and how many have less, and how many have 
 nothing ! 
 
 If, however, the clerk is determined to try his luck in 
 
138 How to make Money. 
 
 business on his own account, he can have no surer gua- 
 rantee of success than by first making his own capital at 
 clerking. This is achieved by making his services valu- 
 able, and then saving till he may have sufficient to start 
 on. A small capital, well managed, will make more 
 money than more, on which you are bound to pay inte- 
 rest. To decide this question of advantage a series of 
 close calculations is to be entered into of the expenses 
 of your concern, such as store-rent, clerk-hire, losses, and 
 other current expenses, and good judgment required to 
 see what will make the most according to all the chances. 
 Then to accomplish your object dress neatly, so as not to 
 be remarked either way. Be modest, unassuming, never 
 boast of what you are doing, of your profits, or your 
 business, or what you intend to do. Mind your own 
 affairs, and let others alone. Make friends with all by 
 your pleasant smiles and agreeable words ; they cost 
 nothing, and make much money. 
 
How to make Mon^y. 139 
 
 CHAPTER X. 
 
 FARMING AND GROWING. 
 
 Good business. Steady increase. Large or small scale. Different 
 names. Ordinary farming. How to pay for a farm. Small 
 daily earnings. Buy and work. Your capital. Keep ac- 
 counts. Inventories. Earnings and loss. One hundred dol- 
 lars profit. Big result. Very fine. Get a wife. Common 
 sense. No nabob. Prince of the realm. Imitate me. Man 
 of independence. First cut. Value your property. Making or 
 losing. Questions. What kind of things. Simple merchant. 
 Everything should pay. Losing money. Earn their living. 
 Produce must. Others', not your own taste. Routine farm 
 ing. Stocks in fashion compared. Costs same to keep poor as 
 good. Example. Great gain in good. Make largely by good 
 stock. Sell, and buy half. Increase good stock. Sell poor- 
 est, keep best. Breed from best. Poor grade. Damage to 
 implements. Large sum in time. They pay for farm. Stitch 
 in time. Illustration. Little thing great damage. Expense a 
 moth. Rats in granary. Pick up. Hang up. Like retail 
 merchandizing. Relative comparison. Tables of earnings. 
 Calculate and understand. Inducements. Independence. 
 Happiness. 
 
 With good health and bodily strength no employment 
 gives a more sure result for a comfortable living than 
 that of the farmer or grower. Like the capitalist with 
 his money at interest, growth and increase march 
 steadily on through day and night. The grain, the 
 grass, the herds, and the fruits, respond to the toil of the 
 husbandman, and furnish a rich reward for his industry. 
 On the large or small scale in which these are carried 
 forward depend the results, whether much or little. 
 
140 How to make Money. 
 
 But whatever the scale may be, under ordinary circum- 
 stances a profitable harvest is gathered. 
 
 Farming, by which term is meant the working of from 
 sixty to two hundred acres of land to produce the ordi- 
 nary crops of the country, is carried on in about one 
 style, and varies but little in its general features. There 
 are, however, grazing farms, as they are called, of larger 
 size ; and in the western and southern portions of the 
 country, still larger bodies of land under one control, 
 where, in some cases, universal crops are raised, while 
 in others, sugar, cotton, and rice are produced. These 
 latter are called plantations. They are all, however, 
 farms, and the terms used are more to indicate the kind 
 of farming than for any other object. 
 
 We will speak first of the most numerous and the 
 most important branch that of the ordinary farming. 
 The amount of money to be made from this is more 
 fixed in amount, and the profit depends mainly upon the 
 economy with which it is conducted. As every one 
 knows, there is no such thing as making a princely for- 
 tune from an ordinary farm. But with proper manage- 
 ment and a just economy, money can be made here as well 
 as in any other branch of business. From farming at large 
 all the national wealth proceeds, directly or indirectly. 
 
 The independence of the farmer consists in having his 
 farm paid for and being out of debt, for with this a liv- 
 ing can always be had, and a good one, too. How is 
 this to be accomplished ? The quickest way, is to make 
 the most money off the land in the least possible time. 
 Suppose your farm is to cost $2,000, how much have you 
 to make each working day to pay for it ? If you make 
 a payment each six months, you will do the same as im- 
 proving your earnings, at seven per cent, as most farms 
 
How to make Money. 141 
 
 arc bought and sold on interest. Look at the tables of 
 earnings and you will see that if you make $5 per day 
 for one year, you will have $1,992.39. If you make $1 
 a day for five years, you will have $1,835.96. If you 
 make 50 cents a day for ten years, you will have 
 $2,212.89. If y ou ma ke 25 cents a day for fifteen years, 
 you will have $2,018, and so on. Now, what does this 
 show ? That the small earning of twenty-five cents a 
 day, for three hundred and thirteen working days, will 
 make $78.25 per annum to be saved to pay for your farm, 
 besides the interest on the first amount or sum agreed to 
 be paid. It then becomes a serious and close question 
 for any one wishing to purchase a farm, if he has not 
 the money, to decide upon the best way to procure it. 
 
 Let us look at this matter. If you conclude to make 
 the effort in five years, you will have to make yearly, on 
 your farm, $453 clear. Forty-five cents per day for in- 
 terest, and $1 a day, or $313 in savings, that is, $1.45 per 
 day for the first year. The interest would be $21.91 less 
 the second year, and so on to the last. Now, if you work 
 without the farm, at any other business, you will have to 
 make $313 per year, and improve the earnings each six 
 months at seven per cent. So it will be seen that your 
 farm costs you, by laboring on it instead of working at 
 another business to pay for it, forty-five cents per day. 
 But it must be remembered that there are expenses for 
 tools, etc., in addition ; but these are accumulated capital, 
 are valuable ; and such may be considered so much 
 additional earnings. 
 
 It is clear, from this statement, that if you intend to have 
 a farm, you should buy one, and work on it, instead of work- 
 ing at another business, to make money to pay for it. For 
 it is plain to see that your farm is cheap, under your 
 
142 How to make Money. 
 
 own supervision, at forty-five cents per day. Then, if 
 you have the money to pay for the farm, and do pay for 
 it, see that it not only does as much for you as it did fof 
 the former owner ; that is, that it should first pay you 
 the interest on the capital, #140, but that it pays you as 
 much, in addition, as you would have paid down yearly, 
 if you had paid in that way, besides getting your living 
 off of it. If this is not done, depend upon it, there is a 
 screw loose somewhere, and you are losing instead of 
 making money. In other words, you must have at the 
 end of the year $453 in valuable property, more than 
 you had at the beginning of it, or you are not doing as 
 well as you would be working to pay for it otherwise. 
 
 The natural question which the farmer would ask, is, 
 How is this to be ascertained ? For, generally, a farmer 
 keeps no accounts, and only knows what his debts are. 
 No farmer knows whether he is making money or not 
 if he does not keep an accurate accoufit of everything, 
 and, like the merchant, take an inventory on the first of 
 January of each year, of what he has got and what he 
 owes. The way the business is generally done, the only 
 wonder is that he makes at all. As far as can be 
 judged, there is no business so loosely carried on as that 
 of farmers, from the fact that they are generally igno- 
 rant of the close, drawn-up way in which all business 
 accounts should be kept ; that they run on from year to 
 year not really knowing whether they have made or not. 
 
 An example of inventories is given on next page. 
 From these inventories it is seen that the farmer made 
 in the year 1864 the sum of $835.97 that is, he made 
 by his farm, over and above his interest on capital, and 
 services in any other business, the sum of $282.97. In 
 1865 he made $759.95 that is, the sum of $144.95 more 
 
Hozv to make Money. 
 
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144 How to make Money. 
 
 than the interest on capital, #140, and $475, the ser- 
 vices of himself and son ; or, in other words, he made 
 by his/arm, $144.95. In 1866 he made $482.50, and fell 
 short $132.50 of making the value of Jciis own services 
 and that of his son's, and the interest on his capital. 
 His farm did not pay for itself that year by $7.50, and 
 no profit was made from it. Such bad years will occur 
 on any farm, or in any other business, no matter what it 
 may be. 
 
 Let us suppose,' then, that he averages from his farm 
 alone $200 per annum ; that he makes his interest, $140, 
 and his own services, $313 ; if he does, he is doing a 
 splendid business, for his income is then, in total, $653. 
 Now look at the table of earnings ; at this rate he is earn- 
 ing $2.09 per working day. This sum, accumulated at 
 seven per cent., will yield in five years $3,807.17 ; in ten 
 years, $9,250.86; in fifteen years, $16,887; m twenty 
 years, $27,655 ; in twenty-five years, $42,847; in thirty 
 years, $64,277; in forty years, $137,148; in fifty years, 
 $282,126 ! Can a farmer make money ? 
 
 " Well," says the farmer, " this is all very nice ; very 
 fine ; but how can this be done ? " We propose to tell 
 you, and if you have average crops, and follow directions, 
 you will not only do this, but more. We will tell you, 
 too, under the head of " How to make money make 
 money, and how to keep it," how to invest it, so that 
 the results stated shall be obtained. But first of all you 
 must have a wife, and both of you must have what is 
 called "good common sense," and know what you are 
 about. If^you are not up to this standard, you had better 
 get your living the best way you can, and be satisfied 
 with what you can get. But if you have strength of 
 mind enough to know that you are a farmer, that you 
 
How to make Money. 145 
 
 must dress, spend, and act like a farmer, you have made 
 a good start. That you will not dress, spend, and acl: 
 like or play the nabob till you have the money to play it 
 on, is one more step in the right direction. If you will 
 say to yourself, "lama prince of the realm, and hold in 
 my hands the elements of our nation's wealth ; so let 
 others imitate me, if they wish, not I them," you have 
 said true words, and have a just appreciation of your 
 position. 
 
 The farmer owning his own land, and out of debt, is 
 the true man of independence. No one can say to him, 
 go here, or go there. He eats the first cut, the country 
 at large is served to the secftnd ; he walks upon his acres, 
 and no man can dispute ; he sleeps the sweet repose of 
 contentment upon his own downy pillow, and greets the 
 rising sun with a smile. The business of the farmer 
 being to produce, everything of clothing or tools should 
 never be bought of others, if it be possible to make them 
 himself, or within his own family. Make your inventory 
 every year, putting everything in that you could sell for 
 money, even to the most trifling thing. Take off each 
 year for depreciation and wear as much as will make its 
 cash value, if sold. This inventory should only contain 
 the articles on hand each first of January, as stated in 
 the former examples given. You will then be able to 
 know just how you stand, and whether you are making 
 or losing. 
 
 Now, for the mode of accomplishment. In the first 
 place, what crops do you raise ? Have you ever kept an 
 account whether one kind of grain has done better than 
 another ? or whether one field has done better than 
 another, or whether one field is better adapted to a parti- 
 cular kind of crop than to another? If you have not, 
 
i^6 How to make Money. 
 
 you are just doing what a merchant would who has 
 started a store, or, possibly, two stores, and has never 
 calculated whether they are making money or not. You 
 would, undoubtedly, say this was simple in him, but, like 
 all human nature, we can discover defects in others while 
 we are ignorant we possess the same ourselves. Every 
 field, every piece of wood, every horse, cow, ox, hog, pig, 
 turkey, hen, or fruit-tree, should be responsible to you for 
 an increase, for they must all be fed and cared for ; .and, 
 if they cannot show a clear gain to you, of what use are 
 they. You are losing money in their feed, and the labor 
 bestowed upon them. 
 
 The first great principle, then, is to look at every field, 
 animal, and tree, upon your farm, and see to it that they 
 earn their living by increase. Crowd on, to every single 
 thing, all your energies to make them work to advantage 
 for you, and never take a business step that does not 
 point in this direction. The great principle, in raising 
 or growing, is to select such grains, fruits, or animals, 
 as will produce the greatest value with the least expen- 
 diture of labor. Following this principle out with care, 
 requires extensive information ; for how can a farmer 
 know without reading" and inquiring, whether he has 
 that which will bring the most money ? The grower 
 must remember that, if he wishes to thrive, he is not 
 raising articles to suit his own fancy, but the fancy and 
 tastes of others ; and, hence, whatever may be his judg- 
 ment as to their intrinsic value, their only value to him is 
 what others will give for them. 
 
 Generally, farming is carried on by a rotation of crops 
 from year to year, without inquiry as to whether the land 
 is more suitable for other crops, or whether the stock or 
 fruits are such as are in fashion, and will produce the 
 
How to make Money. 147 
 
 most money. A farmer may consume his substance by 
 supporting a dwarfy unsalable stock, from a want of 
 knowledge of the requirements of the market. He may 
 think that the cattle that he and his father before him 
 raised, are just as good as any other stock. In one sense 
 they may be, for the pound of beef in the one may be 
 just as good as any one of the three or four pounds in 
 the other ; or the quart of milk from the one ma) be 
 just^as good as any one of the three or four quarts from 
 the other. But he will find out, by sad experience, that 
 the tastes and fancies of consumers change, as well as 
 the ability of two cows on the same food to give equal 
 quantities of milk, or to produce the same amount of 
 beef. 
 
 It costs as much to keep a good horse as a poor one, 
 or a good animal of any kind as a poor one ; and it costs 
 as much to keep an unsalable and an unproductive 
 stock as it does to keep a salable one or a productive one. 
 Let us examine this point, and, for an illustration, sup- 
 pose an old-fashioned farmer had thirty head of stock, 
 worth, on an average, $40 the head, making in value 
 $1,200. Another farmer, who has paid attention to the 
 demand for fancy stock, had the same number of head, 
 worth, or would bring in the market, $90 per head, in 
 value $2,700. Now, we will suppose, too, though that 
 would be unequal in fact, as against the higher priced, 
 that in produce of milk and butter, and increase, the 
 total profit upon each lot was twenty-five per cent, per 
 annum. The profit on the first lot would be $300, and 
 the profit on the second would be $675. In addition to 
 this, they would each be compelled to sell a portion each 
 year ; say they each sold one-eighth of the whole amount. 
 The first would sell $150, and the second would sell 
 
148 How to make Money. 
 
 $337-5- The first would then receive from his stock 
 $450, while the second would receive $1,012.50, the 
 difference being $562.50. In other words, the one that 
 had the fancy stock would receive $562.50 per annum more 
 than the other ; or the difference, in three years, would 
 make up the difference between the poor and the good 
 stocks on these amounts. 
 
 Now this amount of difference per annum would be 
 $1.79 per day for 313 working days ; and this improved 
 at 7 per cent, for five years gives, by tables, $3,286 ; 
 for ten years, gives $7,923 ; for fifteen years, gives 
 $14,461; for twenty years, gives $23,685; for twenty- 
 five years, gives $36,696 ; for thirty years, gives $55,05 1 ; 
 for forty years, gives $ 1 1 7,472 ; for fifty years, gives 
 $141,637. Now, Mr. Farmer, is it worth while to look 
 to the kind of stock you raise ? The first cost is nothing. 
 If you cannot afford to get it, sell what you have and 
 get half or quarter, so you will not be compelled at the 
 least to keep the poor stock. Not only should the farmer 
 and grower have the stock which would command the 
 most money, but they should also consider the means of 
 increasing it to be the best. They may attend closely 
 to obtaining good stock, but this is not all that is re- 
 quired to keep it the best. The best males and the best 
 females should be bred from. Instead, then, as is gene- 
 rally the case, of selling the best fillies, the best male 
 colts, the best bull calves } or the best heifers, keep the best 
 to breed from and sell the poorest. If the stock-grower 
 wishes to make the most money, he will accomplish his 
 end in this way. If he fails to do this, he will find in a 
 few years that instead of having good stock all the while 
 to sell, he will fall back on a very poor grade of stock, 
 or, at best, he will have the poorest of its kind. 
 
How to make Money. 149 
 
 These figures show a difference in stock alone, while 
 the same and more could be said about hogs, poultry, and 
 fruit-trees. A great source of loss, and by no means 
 an unimportant one, is that in agricultural implements, 
 caused by exposure to the weather while they should be 
 under cover, out of the rain and sunshine. This source 
 of loss alone to a farmer, in twenty or twenty-five years, 
 if not watched, will doubly pay for his farm. Imple- 
 ments made of wood, such as wagons, drays, ploughs, 
 rakes, mowing and reaping machines, hand-rakes, forks, 
 etc., will not last half as long by exposure as they will 
 under cover ; and the farmer, if he has any amount of 
 them which he neglects in this manner, will lose more 
 than he imagines. 
 
 An old but true adage, " A stitch in time saves nine," 
 is one of which all should realize the force. A little 
 thing out of order may produce serious results. If any 
 one of your agricultural implements requires repairs, do 
 not wait till you want it, but have it done at once and 
 put in its place. An illustration given by Mr. Say, the 
 political economist, will show the importance of care in 
 little matters : 
 
 " Being in the country, I had an example of one of 
 those small losses which a family is exposed to through 
 negligence. From the want of a latch of small value, 
 the wicket of a barnyard, looking to the field, was left 
 open. .Every one who went through, drew the door to ; 
 but having no means to fasten it, it reopened. One day 
 a fine pig got out and ran into the woods, and imme- 
 diately all the world was after it. The gardener, the 
 cook, dairy-maid, all ran to recover the swine. The 
 gardener got sight of him first, and jumping over a ditch 
 
150 How to make Money. 
 
 to stop him, he sprained his ankle, and was confined a 
 fortnight to the house. The cook, on her return, found 
 all the linen she had left to dry by the fire, burned ; and 
 the dairy-maid, having ran off before she tied the cows, 
 one of them broke the leg of a colt in the stable. The 
 gardener's lost time was worth twenty crowns, valuing 
 his pains at nothing. The linen burned and the colt 
 spoiled were worth as much more. Here is a loss of 
 forty crowns, and much pain and trouble, vexation and 
 inconvenience, for the want of a latch, which would have 
 cost three pence ; and the loss, through careless neglect, 
 falls on a family little able to support it." 
 
 Expenses is the moth that eats away earnings. They 
 are like rats and mice, or other vermin, in your granary, 
 They consume your hard earnings invisibly, and all you 
 know is that they are gone. Scrutinize well, then, every 
 expenditure, and weigh its necessity. Thought costs 
 nothing, and hence it is not expensive to think. But to 
 think, and think to advantage, saves you many a dollar, 
 and brings many more to your pocket. 
 
 Pick up hang up. Your land is your best friend 
 treat it well. 
 
 Pick up hang up. Your extremities are your heart 
 let it be active. 
 
 Pick-up -hang up. Knowledge is a good land-dresser. 
 
 Pick up hang up. Care, a good granary. 
 
 Pick up hang up. Carelessness, a rat-hole. 
 
 Pick up hang up. Daybreak dews, farmer's diamonds. 
 
 Pick up hang up. Sow when you should reap when 
 you can. 
 
 Pick up hang up. Quick market empty fields. 
 
 Pick up hang up. Go away slow come back quick 
 
How to make Money. 151 
 
 Pick up hang up. Good master good horse. 
 
 Pick up hang up. Much care much money. 
 
 This subject is by no means exhausted ; but enough 
 has been said to illustrate the subject as far as space will 
 admit. The farmer can, however, read to his advantage 
 what is said under the head of retail merchandizing, as 
 his business partakes very largely of that character. 
 
 To the larger class of farmers and growers, the same 
 general principles apply. The figures, in any relative 
 comparison, will be correspondingly great ; so much so, 
 that the results will be astonishing. A careful study of the 
 use of the tables for earnings, will give an idea how to 
 make the proper substitutions in any supposable case. 
 Enough has been shown, however, that the reader may 
 see how important it is to the farmer, to calculate and 
 understand as well and as thoroughly as the merchant, 
 the market value of what he is raising, and what will 
 bring the most money with the least expense ; and he 
 will see, too, that this branch of industry presents as 
 many inducements to the money-maker as any, besides 
 giving him a life of independence, and, if he chooses to 
 make it such, of happiness. 
 
 7 
 
152 How to make Money. 
 
 CHAPTER XI. 
 
 MECHANICAL BUSINESS. 
 
 Mechanical produce. Bonds. Strong arm. Higher grade. 
 Genius and hammer. Wonderful results. Revolving tongue. 
 Two heads. Which makes most. Dollar a day. Large re- 
 sult. Can make. Do make. Can rise. New beginner. 
 Golden opportunity. Impressions made. Reverse. Man 
 you want to see. Be a gentleman. Sunshiny heart. Out of 
 one pocket into another. Praise. Strict honesty. Otherwise 
 dead loss. Example. Tailor's trick. Shoddy. Don't offend. 
 Customer considers. Another shop. Loss and gain. Im- 
 portant principle. Another example. Somebody lost money. 
 Extortion. Smoke-stacks. Plumber. Defective joint. Car- 
 penter. No screws. Flare up. Revelation. Complained of 
 before. Loss of work. Hard times. Plumber disabled. 
 . Builds largely. Honest mason. Replaces bad. work. How 
 much won and lost. Pennyworth. Great results. Robbers. 
 Overcharged. Who lost most? Employed most, employer 
 least. Guarantees of success. Effects from reaching. Dis- 
 credit spreads. Journeyman's neglect. Interest in business. 
 Why abuse it. Judging of credits. Mechanics not bankers. 
 Different branch. Consult engineer. Reject credits. Sure 
 dollar. Principle holds. Another head. Paradox. Ride or 
 walk. 
 
 Mechanical produce, as a means of money-making, 
 ranks among the surest methods known, with the same 
 amount of capital, both for the principals and the opera- 
 tives. It takes rank in usefulness and necessity with 
 the products of the farmer. As has been seen before, 
 the two are bound together by bonds almost, if not alto- 
 gether, inseparable. The hammer of the mechanic is as 
 often raised in the land as the farming implement. They 
 are alike producers the one using land combined with 
 
How to make Money. 153 
 
 labor, the other using the products of the land combined 
 with labor, to produce -required results. These impor- 
 tant members of society constitute a strong arm in the 
 body-politic. 
 
 The higher grades of mechanism require great scien- 
 tific acquirements and extensive practical knowledge. 
 Mind and genius mark out the works for the mechanic's 
 hand. By such means pyramids have been raised ; 
 walled cities made impregnable ; water highways coursed 
 through desert lands ; antipodes communicate with each 
 other ; iron ships plough the sea without sail and against 
 contending elements ; monsters with their iron heels stride 
 over the land with burdens of produce inconceivable ; 
 and finally, the climax exists in a revolving tongue, 
 which tattles to every man in the land at the same mo- 
 ment. Genius has moulded all these things within her 
 crystal brain, and mechanism has hammered out the pic- 
 ture into the animated structure. 
 
 As a money-making employment, the produce resolves 
 itself into two heads ; completed results, and the manual 
 labor to produce them. The money from the results 
 goes to the employer, and the employed receives from 
 the employer the money for his manual labor. It would 
 be a difficult question, after careful investigation, taking 
 everything into account, which can really accumulate 
 the most money in certain cases the employer or the 
 individual employed. This will, undoubtedly, be looked 
 upon as a startling proposition, as any one would sup- 
 pose, at first thought, that the employer would make the 
 most. A little investigation and calculation will deter- 
 mine this question, and put it in its true light. 
 
 As a general rule, good mechanics can furnish them- 
 selves and families with all the necessaries of life and make 
 
154 How to make Money. 
 
 a dollar a day. They, of course, do not do this, because 
 they spend uselessly their earnings. If they spend what 
 they gain, and the employer did the same, they would 
 both be making money equally fast ; or rather, neither 
 would make at all. But suppose the mechanic did 
 make a dollar a day continuously for twenty-five years, 
 and improved it every six months at seven per cent., 
 how much would he have ? The tables, for twenty -five 
 years' earnings of one dollar a day, gives the sum of 
 $20,501. Now the question arises, Does each boss me- 
 chanic on an average make this sum ? By no means. 
 Then the proposition is true, that a mechanic can make 
 and accumulate more than the employers as a class do 
 make. 
 
 There are as many opportunities for advancement in 
 the mechanical as there are in the mercantile business. 
 There are two great opportunities for distinction. A 
 young man can rise from the hammer to the conducting 
 of a large mechanical business ; and if he acquires an 
 education and gains knowledge, can shine in the intellec- 
 tual class of engineers, inventors, architects, or sculptors. 
 
 This chapter will be mainly devoted to show how the 
 employer can make the most money by his trade. The 
 laborer and apprentice have been considered heretofore 
 separably. Let us suppose, then, that the apprentice has 
 been thoroughly grounded in a knowledge of his business, 
 that he has passed through his allotted time, has been 
 a successful journeyman, and finally taken his stand and 
 solicits work on his own account. He has assumed to 
 pay a certain amount of expenditure beyond that of his 
 personal or family expenses. He then wants, nay, must 
 have business. He has his sign up, his shop open, but 
 no one comes. At last a customer enters, either out of 
 
How to make Money. 155 
 
 curiosity or want, and makes an inquiry about something 
 in the beginner's line of business. 
 
 Now is your golden opportunity, for you can, by man- 
 agement, make one business friend if not a customer, and 
 possibly both if you never see another. You should 
 contrive by your conversation and manner to make the 
 following impressions upon him : 
 
 First. That you understand your business. 
 
 Second. That you understand his wants. 
 
 Third. That you are honest and fair. 
 
 Fourth. That you are obliging and in his interest. 
 
 If you succeed in accomplishing these ends, you have 
 commenced business nearer success than half the world. 
 
 Many mechanics w r ho did not understand their interest 
 will make impressions something after this fashion : 
 
 First. " It's none of his business what I know." 
 
 Second. " I know near enough what he wants." 
 
 Third. " I am honest enough to make a profit if I 
 can." 
 
 Fourth. " I am as obliging as I choose to be, and 
 know my own interest." 
 
 These indications of thought might gratify the person- 
 al pride, and independence of mind of some, but would 
 neither bring dollars into their pockets, nor suit a cus- 
 tomer who could be of great pecuniary advantage. More 
 than this, such a young beginner might be in the presence 
 of the very man whom he had hoped while a journeyman 
 might come along and lend him money to extend his 
 business upon. Above all things, never assume an 
 antagonism of interest with the customer you deal with, 
 but the reverse, and you will be brought to see the dol- 
 lars that flow from proximity and intermingling. 
 
 To be a perfect gentleman is quite easy, and very pro- 
 
156 How to make Money. 
 
 ntable in transactions. It is not half as difficult of learn- 
 ing and practising, as your trade with tools. The garb 
 may be even assumed for interest's sake if you do not 
 feel what you act. The grand idea is a sunshiny heart 
 shown forth in the face, with pleasant, agreeable, and 
 obliging words, with an air of interest in the cause of the 
 customer. It takes coppers out of his pocket and puts 
 them into yours, in a way as pleasant to both as the 
 mannerism. You make twice by such means ; you 
 make the profit, and rivet a customer to your business. 
 He talks about you ; tells others what an honest, good 
 fellow you are ; how well you do your work ; and above 
 all, you are reliable. 
 
 You will soon find yourself surrounded by a lot of 
 pleasant-faced customers with open pockets. They will 
 finally come to you for many things they want done not 
 in your line, and urge you to employ the men to do the 
 work, and charge them what is right. Such is the cer- 
 tainty of success attached to such a course of trade, that 
 it has come within our knowledge that a tinman was 
 applied to to build a millionaire a house ! Simply be- 
 cause the tinman was honest, and the millionaire vainly 
 supposed that he, the tinman, could make any other 
 mechanic in like manner honest and faithful, whom he 
 employed. 
 
 There is no one quality so much needed, and which 
 commands so high a price, as strict honesty. When a 
 mechanic is found honest and capable, working for small 
 or fair profits, doing his work for the interest of his em- 
 ployer, he at once becomes crowded with work, and an 
 independence and a fortune stand waiting for him but to 
 be gathered in. There is very little difference what your 
 trade may be, money will roll in from all quarters to fill 
 
How to make Money. 157 
 
 your purse. A trick, a dishonest job, or an exorbitant 
 profit, is a dead loss. Better not do the job. This, no 
 doubt, would be regarded by some tradesmen as an ex- 
 travagance. 
 
 We will give an example to show its truth. The in- 
 stance was a tailor, and the deception had been practised 
 on a suit of clothes. The superior knowledge of the 
 tailor had not been used for the benefit of his customer, 
 but, as he supposed, for his own, by a little trick by which 
 he would make an undue profit. The cloth sold to the 
 customer for the suit looked just as well to the eye of an 
 inexperienced person as though it had been a first-rate 
 article. But the haberdasher had sold it at a bargain, 
 and the tailor had bought it because a large profit could 
 be made on it sub rosa. 
 
 Our victimized customer had his suit from this cloth, 
 wore it but a short time, and found, to his amazement, 
 that it was " shoddy." The gentleman could not harbor 
 the thought that he had been intentionally shaved ; but 
 having his own way of testing such matters, he went to 
 the tailor, showed him the " shoddy," and asked an ex- 
 planation. The tailor replied that " We are sometimes 
 deceived in cloth ourselves, and this seems to be an in- 
 stance. But," said he, " I have a cloth here," taking 
 up a piece, " that is the best I ever saw. Let me make 
 you a suit from this." Now, this gentleman, who had been 
 deceived once by the tailor, was no fool in such matters. 
 He reasoned by analogy, " I know one thing. I have been 
 deceived by this man in one piece of cloth, and I knew 
 nothing about that ; why may I not be deceived again, as 
 I know nothing about this ? Then, too, I have paid 
 this man good money for what he acknowledges himself 
 was a deception ; but he says nothing about making me 
 
158 How to make Money. 
 
 another suit of clothes for nothing, nor allowing me any- 
 thing in the way of compensation." All this he was 
 revolving over in his mind while looking at the cloth, and 
 the tailor was eloquent upon its merits. 
 
 Like a sensible man, he concluded that as he had got 
 the worst of the last operation with the tailor, he would 
 not expose himself again to the same thing, and quietly 
 took his departure with the reflection, " that if this man 
 has intentionally deceived me I want nothing more to do 
 with him ; and if he has bought this cloth through igno- 
 rance, he does not understand his business, and I will try 
 some one else." The poor ignorant tailor, however, 
 flattered himself that he would still continue to furnish 
 him with his clothing. 
 
 The gentleman did not return, as the tailor supposed, 
 but dropped into another establishment, called the atten- 
 tion of this tailor to the worthless suit, told him the story, 
 but the man said nothing'about the other tailor, which a 
 little surprised the gentleman, and the fact made rather a 
 favorable impression upon him. The new tailor began 
 showing his goods, and remarked that " This cloth is 
 showy and looks as good as this, but this is much the 
 best and will wear twice as long as the other." The gen- 
 tleman was pleased, and said to himself: "This man has 
 the air of open-hearted honesty, and for aught I can see 
 has equally good clothing at less prices." 
 
 The result was that he sold the gentleman his cloth- 
 ing for the year, amounting to $450, and also his three 
 sons, who had purchased at the same place with the 
 father; one bought $550, the other $400, and the third 
 $375, making altogether a loss to the first tailor of sales 
 amounting to 1,775, an d a S^ n to tne second of the 
 same amount. It so happened that the father and three 
 
How to make Money. 159 
 
 sons continued to buy on an average the same amount 
 each year for twenty years, when the father died. Now 
 let us see how this affair turned out in money made by 
 one and lost by another. Tailor No. 2 made 30 per 
 cent, on the amount sold on an average, or $532.50 per 
 annum for twenty years, and tailor No. 1 lost that much 
 by his little deception. That is, one tailor gained $1.41 
 per day, and the other lost that sum. By the ta.ble of 
 earnings for twenty years, we find that this, improved at 
 7 percent, for that time, would amount to $18,657. The 
 tailor No. 1 tried to make some 10 or 12 dollars by de- 
 ception, and it cost him $18,657. I s "honesty the best 
 policy " or not in trade ? This is a single instance of 
 the ten thousand cases that occur daily through utter 
 ignorance of the results which flow, from such little 
 " tricks in trade," as they are denominated. From this 
 illustration some very important principles to mechanics 
 may be deduced. 
 
 First. Customers do not generally understand your 
 trade, and do not know whether the goods are well made 
 or work well done on inspection. You do ; therefore be 
 honest. If not, sooner or later you will be caught, and 
 will lose money by it whether you are caught or not. 
 
 Second. If a man has paid you good money, and you 
 find out afterwards that he has not had value received in 
 goods or work, you never can make as much money by 
 any other- means as by paying him back his honest dues. 
 That money will quadruple to you in a year. 
 
 Third. Never speak ill of a fellow-tradesman ; you 
 will lose money by it. Let every man's experience be 
 his own schoolmaster ; you can't afford to teach for 
 nothing. 
 
 Fourth. If you have been deceived yourself, whereby 
 
 7* 
 
160 Hozv to make Money. 
 
 you deceive another, make full restitution. Don't wait to 
 have it cork-screwed out of you. You will make money 
 by it. 
 
 These principles underlie permanent success in me- 
 chanical trades and business growing out of it. The 
 tradesman, and the mechanic also, have great temp- 
 tation laid before them, from the very nature of their 
 business, to give the customer less than honest value. 
 Very few understand the value of mechanical work, or 
 know how much a mechanic ought to do in a given time, 
 and hence over-charge and under-time lie alone with the 
 tradesman and the mechanic. But though this may be 
 true, the customer, by an instinct from observation, will 
 find out he is unfairly dealt with, though he may not know 
 exactly why, or how. It is quite a common idea among 
 mechanics that they must not do the job too well, for it 
 will spoil the trade ; hence they will do the work to 
 answer a temporary purpose, and expect another job to 
 do it over in a short time, and so on. 
 
 An instance has occurred while this article was being 
 written. A low chimney of a neighboring house, seen 
 from my window, required, it was presumed, a smoke- 
 stack ; for, one morning, two mechanics appeared upon 
 the roof with their tools, and under the arm of one was a 
 smoke-pipe, about two feet long. The men laid down 
 their tools, sat down upon the coping, quietly took out 
 their pipes, filled and lit them, and took a good smoke. 
 They seemed to be engaged in conversation, as they 
 were looking about and pointing here and there. Final- 
 ly, the ashes were knocked out of their pipes, they got 
 up, stretched themselves, yawned, and walked towaids 
 the chimney. Here they stood, with their hands in their 
 pockets, for a considerable time, and after spending an 
 
How to make Money. 161 
 
 hour, if not more, took up their tools and went to work. 
 It is needless to say that the forenoon was exhausted in 
 putting up the two feet of pipe. The next day they 
 came back with another, and it was put in a different flue 
 in the same chimney, and the operation was substantial- 
 ly the same as the one the day before. These two stayed 
 up two days, when the same men came and took them 
 down, and carried them off. The next day they came 
 with them again, lengthened to about five feet, and 
 about the same amount of time was spent again. These 
 two stayed up three or four days, but in the meantime 
 they came and put up a galvanized iron one in the 
 third flue, which was about twelve feet high from the 
 top of the chimney. In a day or two the men came 
 again, took down the five-feet pipes, carried them off, 
 and the next day came with them again, lengthened to 
 the height of the galvanized iron one, and put them up. 
 Since then, some four days, they have not appeared on 
 the roof. 
 
 Somebody lost money by this operation. The man 
 may pay the bill, and the mechanic may have supposed 
 he had done one more job to advantage. But the chances 
 are he will lose money by it ; for if he had not been igno- 
 rant of his business, he would have known that, on ac- 
 count of the height of the adjoining walls, twelve-feet 
 smoke-stacks were necessary, and he would have made 
 them and put them up in half a day. If he was dishon- 
 est, and wished to " run the job," he will sooner or later 
 lose by it, for, at least, he has taught his hands a bad 
 trick. 
 
 This course of business generally brings about the 
 same result as in the case of the tailor, by the varieties 
 of vay in which it is practised. The loss to the extor- 
 
Ib2 How to make Money. 
 
 tioner is the same, whether the extortion be in the way 
 of exorbitant, or the under value of the work done. 
 We will examine a case a little more in point, where the 
 results were seen directly. An application was made by 
 a wealthy gentleman to his plumber, to have some trifling 
 repair done to a weeping joint of pipe in his house. He 
 at once dispatched his journeyman to make the repair. 
 Having arrived at the house, he proceeded to the exami- 
 nation of what was to be done. The repair was in plain 
 sight, but was a little inconvenient, on account of some 
 wood-work, but nevertheless could have been done with- 
 out its removal ; but in order to have plenty of room he 
 tore away the wood-work and was then ready to proceed. 
 It took but a few moments to do the work, though half a 
 day was consumed in talking with the servants, and gene- 
 ral puttering about. The work was, however, completed ; 
 and as it turned out, the leak proved to result from a slight 
 defect in the work of the same principal and same jour- 
 neyman at the time the house was built. 
 
 The plumber made out his bill, and it was paid by the 
 owner with the passing remark, that " work should be 
 well done at first, and all such expenses and annoyances 
 would be avoided." The owner sent for his carpenter 
 and told him to replace the wood-work torn up by the 
 journeyman plumber. The carpenter happened in like 
 manner to have done the work after the plumber at first, 
 and on proceeding to the place, found, to his amazement, 
 the new work split to pieces, and entirely unfit for use 
 again, for it had been nailed down instead of screwed down, 
 as he had directed, and as he supposed had been done. 
 He reported the state of the case to the owner, who 
 directed that new work should be put up. It was com- 
 pleted, the bill presented, and paid by the owner, who 
 
How to make Money. 163 
 
 remonstrated with the plumber because his journeyman 
 ^had destroyed the wood-work, as the carpenter said, 
 " unnecessarily, as the work could have been done with- 
 out." The plumber, piqued at the carpenter's remark, 
 told the owner that " If the work had been screwed 
 down, as it should have been, instead of nailed down, as 
 it was, there would have been no difficulty." 
 
 These transactions and conversations revealed to the 
 owner some valuable information, from which he disco- 
 vered the following facts : 
 
 First. That the plumber had done his work imper- 
 fectly at first. 
 
 Second. From this cause he had lost, and no restitu- 
 tion was made. 
 
 Third. That the carpenter had done his work badly 
 at first. 
 
 Fourth. From this cause he had lost, and no restitu- 
 tion was made. 
 
 Like a wise man, he revolved over in his own mind the 
 whole matter, not because of its importance in the pre- 
 sent case, but its bearing upon the future, for he was a 
 large landowner and built extensively. He made up 
 his mind and kept his conclusions to himself. Almost 
 any one will overlook an error, or a mistake, or an una- 
 voidable accident in another ; but few men will be satis- 
 fied with being compelled to pay for it. 
 
 On reflection, the plumber remembered that the same 
 journeyman, considered one of the best he had, and 
 receiving the highest wages, had been complained of 
 twice before for similar neglect, and had caused him 
 much trouble at those times. It so happened that soon 
 after, work became slack, business dull, and the plumber 
 was obliged to discharge some of his force. Much to 
 
164 How to make Money. 
 
 the surprise of the journeyman and all in the place, when 
 pay-day came around he was discharged. 
 
 The carpenter in the meantime finding out that the 
 plumber had " let the cat out of the bag " with the owner, 
 respecting the improper manner in which his work had 
 been done, brought up the journeyman carpenter for an 
 explanation, who excused his neglect because he had no 
 fit screws, and supposed that it would make no difference 
 in that one place, as all similar work in the other parts 
 of the house had been screwed down and done properly. 
 A few days after the carpenter saw a journeyman from 
 one of the neighboring carpenter-shops enter the house 
 of his former profitable customer, with his tool-box on 
 his shoulder. He well knew what that meant ; and, 
 incensed at the loss of such a man's work by the neglect 
 of his journeyman to step out and procure what screws 
 he wanted, not a hundred feet distant, discharged him on 
 the very next pay-day. 
 
 Times being hard, and work dull, neither the journey- 
 man plumber nor carpenter could get anything to do. 
 They had each laid up a little, but it was fast going when 
 all was expense and no income. They were willing to 
 work for less wages than they had received, but no one 
 seemed to want them ; for all asked where they had 
 worked, and why they had left. Having nothing to do, 
 the plumber went into the country (for he was employed 
 in New York), where he remained some time ; and 
 finally fell from a tree, while gathering some nuts, broke 
 his wrist, and was disabled for life. The journeyman 
 carpenter fook sick, after being out of business for some 
 time, was bed-ridden for a year, and died. 
 
 The rich man, out of whose work all this trouble had 
 arisen from an imperfect joint of the plumber, soon built 
 
How to make Money. 165 
 
 largely to improve some vacant property which he had 
 The materials were all purchased, and his carpenter-work 
 done by the day, which was supposed would amount to 
 $53,000. The plumbing bill, done in like manner, was 
 estimated at $11,000. The mason who had done this 
 gentleman's work for a long time, was a very worthy, 
 honest man ; but a little circumstance happened about 
 this time which won the gentleman's confidence com- 
 pletely. The mason had done the work of a brown-stone 
 front house but a short time before, and the foundation to 
 the front stoop had been either carelessly laid, or from 
 some other cause, a settlement had taken place and 
 cracked one of the steps ; and, although it did not detract 
 much from the value of the house, it was an eye-sore, 
 and was evidence of poor work somewhere. The mason 
 happened to pass the house one day, and his eye at once 
 caught the defect. He stopped, looked at it for a 
 moment, and then went on ; but the thing kept troubling 
 him, and he finally said to himself, ** This is not right ; I 
 got my money for good work, and my work is not good ; 
 the breaking of that step is the fault of the mason who 
 set the stoop, and I don't want that to remain as my sign- 
 board, even though I may not be legally bound to re- 
 place it." 
 
 He applied to the owner for permission to replace the 
 stone, much to his surprise ; and it was done. When the 
 owner had determined to build this large amount of work 
 just spoken of, and when the mason's bill alone was es- 
 timated at $84,000, there were no questions asked, but 
 simply the plans were handed to him with directions to 
 do the work by the day, and purchase the materials as 
 cheaply as he could, keeping the owner advised of every 
 large bill. The mason was much surprised to hear that 
 
1 66 How to make Money. 
 
 his old friends, the carpenter and plumber, were r. ot to be 
 employed, which led to various inquiries what could be 
 the matter. " Were they insolvent ? " said one. Or, " Are 
 they wrong in some way ? " No one could find out why 
 they were not employed, as they had been, by this large 
 owner of property, and who was known to be, by every 
 one, a very upright, honest, fair man, and one who was 
 noted for employing one set of mechanics. 
 
 These buildings were finally completed, the amounts 
 of the various bills exceeding the first calculation, mainly 
 because more work became necessary. The plumbing 
 bill amounted to $12,722 ; the carpenter's bill was $59,432 ; 
 the mason's bill was $91,200. On inquiry, the plumber 
 made $1,300, a little over ten per cent; the car- 
 penter made $4,350, and the mason made $8,120. Five 
 years afterwards, the same owner built a new lot of 
 houses and stores, the entire cost of which was : for 
 plumbing bill done by the same plumber, $13,100, the 
 carpenter's work $75,000, and the mason's work $104,210. 
 
 Now, let us see for an instant what the plumber lost 
 by the careless hand, and his failure to make good defec- 
 tive work without being driven to it ; what the carpenter 
 lost in like manner, and what the other plumber and car- 
 penter gained by their loss. The first great loss to the 
 plumber was $1,300, and the jobbing work of this 
 owner, which was worth in profit $100 per year for the 
 five years to the second large job. $1,300 will amount 
 at interest in five years to $1,820, and $100 for five years 
 added and improved would amount to $588 ; add profits 
 on the plumbing job, $13,100 $1,400, making the sum 
 lost to first plumber and gained by second, $3,808. 
 
 If, then, the plumber had been thirty at the date of 
 the making the imperfect joint, or of the first large 
 
How to make Money. \( ~ 
 
 amount of work done, he would have had when he was 60, 
 $20,677. He lost, then, at the age of 60, $20,677, as tne 
 result of his journeyman having made a bad joint at 30. 
 The carpenter, in like manner, lost the amount of the full 
 bill of profit, $4,350, and the owner's jobbing for five years, 
 equal to $350 per year, and the profit on the second 
 large job, amounting to $7,422, which being computed as 
 in the case of the plumber, amounts in the five years to 
 $ l S>SS> t0 sa y nothing of any other business trans- 
 actions or profits after the expiration of five years. Now 
 if the carpenter was 30 years of age when the first large 
 job was lost, he would have lost, at the age of 45, 
 $31,100; at the age of 55, $62,200; and at the age of 65, 
 $124,400, for the want of 6 cents' worth of screws, or a 
 failure to make good without charge the damage which 
 the want of such screws occasioned. 
 
 These are the incidents growing out of the business 
 of mechanical life. The trades here selected are samples 
 of all others, and the losses occasioned in them can be 
 traced to similar sources. Nor are mechanical trades 
 alone affected by such little things. A man may fail to 
 be elected President by one vote, and that vote lost by 
 a neglect to speak pleasantly to an acquaintance in the 
 street. Small matters sometimes guide great events ; 
 nor can the wisest tell what may result from a mere 
 trifle. A nut carelessly or imperfectly finished in the 
 boiler of a magnificent steamship may be the penny value 
 that will send hurling into fragments her proud form, 
 and hurry into eternity her human freight. Upon the 
 hammer of the mechanic may hang the life or death of 
 many human beings. There can be no end to the vast 
 list of things that could and do occur by the wrongs of 
 the journeymen. As has been seen, they can wrench 
 
168 How to make Money. 
 
 from the pockets of their employers money at their will 
 But, is it less than robbery, or are they not likewise rob- 
 bers ? Is there any real difference between the man who 
 does it slyly one way and the man who does it slyly 
 under cover of darkness ? Is there any difference in prin- 
 ciple whether a man is robbed by collusion of mechanics, 
 by overcharges, or by bad work or by robbers, or by 
 passing any false token or counterfeit money ? 
 
 The fraud is the same in both instances, and the only 
 reason why they are not so regarded generally in the 
 community is that the one is quite common, the other 
 comparatively rare. The mechanic whose bill or demand 
 is a wrong, may wrench from the customer the money 
 which he demands, and the payer may " stand and de- 
 liver," because it is the cheapest mode to get off. But, 
 in all such cases, there are two who lose ; the one, how- 
 ever, much more than the other. In the case of the man 
 victimized by the tailor, who lost the most then ? The 
 losses could scarce be compared, and they fell, too, upon 
 the one who could afford it least. In the case of the jour- 
 neyman plumber who caused the loss of a small bill to 
 the rich man, who lost the most, the plumber himself 
 or the rich man ? and who was the best able to afford it ; 
 he who paid for the half-day's work and materials, or the 
 one who received the money ? In the case, too, of the 
 journeyman carpenter, who lost the most ; he who failed 
 to put in the screws where he should, or the rich man 
 who had to pay for the blunder, or the carpenter him- 
 self, who received pay for repairing his own wrong, or the 
 man who paid the money ? 
 
 Let us examine. The journeyman plumber had been 
 out of employment just three months, when he fell from 
 the tree and broke his wrist, which would not in all pro- 
 
How to make Mo7iey. 169 
 
 bability have happened if he had remained at work. He 
 was receiving $2 per day, for this was some time ago. 
 Up to the time of the accident, he had lost $164. Add 
 to this his doctor's bill, $26 ; and two months' time in 
 which he could do nothing, at 75 cents per day, after 
 his wrist was broken, $42 ; and his board in the mean- 
 time, $12, and his account stands thus : 
 
 Three months' lost time, 84 days, at $2 $168 00 
 
 Twelve weeks' board, $2.50 per week .... 30 00 
 
 Doctor's bill 26 00 
 
 Three months' lost time, 56 days, at 75 cts. 42 00 
 
 Four weeks' board, $2.50 per week 10 00 
 
 $276 00 
 
 He was just twenty years of age when he received 
 employment at 75 cents per day. He lost, then, $1,25 
 a day on his former wages ; and no matter what wages 
 generally might* be at any time, he would lose this much 
 a day as the difference. Now let us look at all the losses 
 in this transaction, with reference to the future, at 50 years 
 of age. The journeyman plumber's loss may be set down 
 at $1.25 per day till he was 50, or for 30 years; and 
 also $276 compounded at 7 per cent, as we do the whole: 
 Journeyman's absolute loss, at 50 years of age, $2,104.36. 
 
 If it would be just to estimate his loss of $1,25 per 
 day on account of hurting his wrist, he would lose alto- 
 gether, in that time, $40,548.78. The boss plumber lost 
 $1,300 in the first job of the rich man, and $100 a year 
 on his repairs for 5 years, making for the 5 years a loss 
 of $2,408. He then lost $1,400 on the second job, by 
 not getting it, which, added to $2,408, makes $3,808 ; 
 improved for 25 years at 7 per cent., gives his relative 
 
170 How to make Money. 
 
 loss with the journeyman, $20,677. The boss carpenter 
 lost by profits on first job, by not getting it, and on repairs 
 for 5 years, alike computed, $8,128; and adding the pro- 
 fits on second job, not got, of $7,422, makes $15,550, 
 which, improved at 7 per cent, for 25 years, relatively 
 with journeyman plumber and boss, gives $84,436. 
 
 Now, what did the rich man lose by the same opera- 
 tion, presuming he got his work done just as well, and 
 no better, by those whom he employed ? He paid the 
 plumber $4.50 for what he did, and that, improved to the 
 same date of all three, at 7 per cent, gives $32.24. He 
 paid the boss carpenter $30 for what he did, which, in 
 like manner, makes $228.30. 
 
 It is seen by this that the journeyman lost, by making 
 the bad joint, absolutely $64 to the owners $1 ; and if 
 the accident was taken into account, he lost $1,229 t0 
 the owner's $1. The Jdoss plumber lost $646 to the 
 owner's $1 ; and the boss carpenter lost $370 to the 
 owner's $1, on the works respectively. Who, then, loses 
 the most money by bad work, the employed or the 
 employer ? But it must be remembered that these are 
 not all the jobs which the boss carpenter and plumber 
 lost from this one customer, for he still continued to 
 build ; and if the whole profit which these two men could 
 have made was estimated, it would reach a large fortune 
 if it had been saved and improved at interest. 
 
 As a consequence, the following may be assumed as a 
 sure guarantee of success : 
 
 First. Know well your trade, and do it well. 
 
 Second. Be civil, polite, and obliging to all. 
 
 Third. Be just, honest, and trustworthy. 
 
 Fourth. Never buy till you know the value. 
 
 Fifth. Stick close to your trade, and improve. 
 
How to make Money. ij\ 
 
 Sixth. Get the money for what you do, and pay 
 prompt. 
 
 If these are lived up to, success in money-making is 
 guaranteed. 
 
 There is no mechanical trade that is not injured by 
 just such cases as have been cited. It would be useless 
 to prolong them further. Their effects are very far-reach- 
 ing, and the reason why they are not more readily felt, is 
 the fact of their distance, and not their uncertainty. 
 Morals, however, being entirely set aside, the interest of 
 the mechanic, in dollars and cents, is directly at stake. 
 Then, too, when a boss mechanic discharges his journey- 
 man it is a public stigma upon him, as a general thing ; 
 and a shrewd one, who hears of the fact, concludes there 
 is something wrong somewhere. For a man's discredit 
 spreads like falling quicksilver on a marble slab. 
 
 To the journeymen who performs the labor, a word may 
 not prove unprofitable. Your neglect may cause great 
 pecuniary loss to yourself and to your employers, as you 
 have seen. No better evidence of ignorance of your 
 own interest can be found than a boast, often indulged in, 
 of independence of your employer. He is the journey- 
 man's best friend, because through him he gets his 
 money, and upon the same principle that the land is the 
 farmer's best friend. To slight work is to lose money, 
 because you may lose your employment. Look at the 
 business as your own, only managed by the employer as 
 a means of bringing you money. You, then, become 
 interested in its good credit, thereby insuring your share 
 in its results. You are in fact a partner in it, drawing 
 profits, but paying no losses, expenses, or running. any 
 risks. Your pay comes whether the business in general 
 is successful or not. In one sense you are the principal, 
 
172 How to make Money. 
 
 the business your subordinate. If the business is not 
 worth nursir>g, saving, or caring for on account of the 
 principal, it is worth it as your bank which pays you a 
 daily dividend. Why abuse it ? Why go out and do 
 that which will waste its credit and squander its money ? 
 Why by your carelessness drive custom irom its doors, 
 when your bread, your meat, and your money, depend 
 upon its support ? 
 
 In this business, as ;n most others, there is no trouble 
 in making money ; the trouble lies in keeping what is 
 made. It differs in some respects, however, for work is 
 sometimes done for th<>se who do not pay, and hence 
 money may not be made. At this point of the business 
 a new principle enters, and that is the judging of credits 
 as a means of making money. If the mechanic has read 
 the article on Banking and Insurance, he must have per- 
 ceived that the judging of credits is strictly speaking a 
 banking business, whether it be done by one or by 
 another, and requires skill and experience, as in any 
 other trade. How many mechanics, however, do this 
 thing, and risk their all upon the accomplishment of that 
 on which they have never spent a moment of time, 
 and possibly never turned a thought before, the very point 
 that may lose them the money value of their long worked- 
 for trade. To judge of the value of credit is the most in- 
 tricate and difficult branch of business, requiring prac!ice y 
 experience, and knowledge. A mechanic who gives credit, 
 goes into a banking business ; and he knows himself, pro- 
 bably by sad experience, whether he is a banker or not. 
 Let him ask himself whether he is competent to take 
 charge of a bank, and he will appreciate his own posi- 
 tion in doing the same thing for himself. 
 
 Suppose the mechanic wanted a journeyman, would he 
 
How to make Money. 175 
 
 hire the president of a bank, who had never raised a 
 hammer ? If you wanted to know the value of leather, 
 would you go to the ironmonger to inquire ? Or if you 
 wanted to know the value of iron, would you inquire ol 
 the leather-dresser or shoemaker ? If, then, your cus 
 tomer wants credit, go to his bank and find out if they 
 will take his note, and whether they consider it good 01 
 valuable, or whether you^could sell it anywhere without 
 your own name. If you can get enough for the note, in 
 this way, to pay you, go on and do the work ; and if not, 
 you had better let it alone, and make a sure dollar some- 
 where else in the meantime. Whenever you trust, take 
 as much time to consider the value of the security as it 
 would take you to earn that much money, and you will 
 be pretty safe. A note may be good that would be 
 rejected by a bank, because they might not know all 
 about it ; but the principle nevertheless holds, that a 
 mechanic would do better not to touch credits that would 
 be rejected by a bank, unless he can convert it into 
 cash, or value, in some other way. All these various 
 propositions are of but little consequence in gaining an 
 independence, or a fortune ; there is still something more 
 to do, which will be explained under another head. 
 
 An inordinate desire to make is the cause of loss, be- 
 cause people take risks of values of credits, in the hope 
 that they will get their pay ; and a paradox results, that 
 will be useful to the money-maker : / 
 
 He who makes money the slowest, makes it the fastest ; 
 He who makes it the fastest, makes it the slowest. 
 
 And another, quite as certain : 
 
 He who walks early, will ride late ; 
 He who rides early, will walk late. 
 
174 How to make Money. 
 
 CHAPTER XII. 
 
 RETAIL MERCHANDIZING. 
 
 Moral certainty. No credit. Small losses. Purchase well. Sen- 
 tinels. One price. Catalogue of qualities. General beha- 
 vior. Pleasant manners. Repulsive manners. Example in 
 Boston. Influence of acts. Two cheated. Advertisemens. 
 Expert salesman. What he wants. Defects explained. 
 Trifling attentions. Draw custom. No excuse for failure. 
 Bargains. Divide. Small store. Profits per day. Results. 
 Money in business. Taken out to speculate. Loss dead cer- 
 tainty. Causes of failure. General principles. Be polite. 
 Please everybody. Everybody your friend. Walking adver- 
 tisement. Brings dollars. At all hazards. Old adage. True 
 philosophy. Failing don't pay. 
 
 There is no department of trade in which there is a 
 moral certainty of success, except in the retail trade, if pro- 
 perly and judiciously carried on. The wholesaler is more 
 or less compelled to credit, while the retailer can always 
 sell for cash. He may, to be sure, have unsalable and un- 
 seasonable goods left over, on which there may be a small 
 percentage of loss ; but this amounts to nothing when 
 compared with the loss of a bill or note of hand by the 
 wholesaler. While the wholesaler has to look out as 
 well for purchases as for sales, the retailer has but one 
 great care, and that is to purchase well. For it is a 
 quaint saying "that goods well bought are half sold." 
 While the one, to make, has to stand sentinel over his 
 credits, the other has to stand sentinel over his purchases. 
 

 How to make Money. 175 
 
 The extent to which this is well done in both instances 
 will determine the loss or gain to both parties. 
 
 A retailer should have but one price, and if the goods 
 will not sell at that, mark them down till they do. This 
 gives dignity to his establishment and confidence in the 
 buyers, as many are not acquainted with prices, and if 
 they see they are fixed, presume that the marked profit 
 is a fair one. A skilful retailer must possess a catalogue 
 of qualities which are not necessary for the wholesaler. 
 The intercourse with customers is extensive and varied ; 
 he has to deal with every grade of intellect, knowledge, 
 fairness and honesty. More generally depends on his 
 behavior and manner than on the quality of his goods. 
 There is no one quality that commands custom and 
 brings profit so quick to a retail store, and so certainly, as 
 pleasant manners. It is the magnet which points to 
 fortune. It is more valuable than paid-for advertise- 
 ments, and quite as attractive as low-priced or cheap 
 goods. 
 
 There is a mannerism assumed by some, of repulsive- 
 ness and indifference, by which they fancy the customer 
 will be made to take hold more sharply. It may prove 
 successful at times ; but such rash experiments will not 
 bring back the customer who finds afterwards that some- 
 how he was impelled, if not forced, into buying. The bar- 
 gain may have been saved, but the customer is lost. 
 Nothing can be more destructive to the interests of an 
 establishment than such time-serving operations. A lady 
 in Boston gave the following account of the bad manners 
 of some retailers in that city : 
 
 " Some stores in street are noted and avoided, 
 
 for the impertinently familiar manner which the clerks 
 
 8 
 
176 How to make Money. 
 
 think proper to adopt towards their lady customers. 
 When a lady goes into the store in search of some article 
 that she is in want of, as soon as the gentleman sees 
 her, he comes forward, makes a grimace, pulls up his 
 shirt collar, runs his fingers through his hair, and as- 
 sumes an air of easy familiarity that is quite refreshing 
 to look upon. It is true he may not have much sense, 
 but then he has a wealth of smiles ; indeed, to listen to 
 his conversation with his victimized customer, a by- 
 stander might come to the conclusion that he was pro- 
 prietor of the establishment, and the lady had made the 
 article in question a mere excuse for a morning call ; 
 this is annoying, but in this case one can leave the ar- 
 ticle, and walk out. But there is one retail store in this 
 city that is a perfect trap once in, it is impossible to get 
 out ; if the article does not suit you, you are worried and 
 talked at ; if you attempt to move towards the door, you 
 are run after and brought back ; if you tax your genius to 
 give a most unmistakably minute description of what 
 you'di? want, the reply is, ' Oh, yes, madam, in the back 
 store ; if you will walk back, we have exactly the article 
 you describe.' And so they get you further in ; after 
 looking about on the shelves, they profess to have found 
 the object of their search, and down comes the very 
 opposite of anything you ever wished to possess. After 
 making half-a-dozen fruitless attempts to reach the street 
 door, and being each time perseveringly caught and 
 brought back, you give it up, and become submissive and 
 willing to buy anything they wish you to, making at the 
 same time a firm resolve as you see your money going 
 for things you don't know what to do with that if you 
 live to be as old as Methuselah, you will never enter that 
 store again." 
 
How to make Money. 177 
 
 It is quite too common among this class of traders to act 
 as though the sale or operation in hand was to have no in- 
 fluence beyond the moment. This is a fatal error. It is 
 not uncommon in other walks of life, but is more common 
 in the interchange of articles. Such, laugh and chuckle 
 at the ignorance of the purchaser, and commend them- 
 selves for having sold a poor article at the price of a good 
 one. There are two cheated in every such operation 
 the purchaser and the seller ; the one of his money and 
 the other of a portion of his trade. Nor does the cheat 
 stop with the simple loss of the trade of the individual, 
 but he becomes a walking and talking advertisement of 
 the trader's bad character, and deters others from hazard- 
 ing what he has lost. 
 
 To be an expert and popular salesman requires study 
 and careful drilling both in language and in manners. 
 To be too verbose or persuasive beyond bounds will dis- 
 gust. The main point is to impress the customer that 
 you are endeavoring to sell him what it is his interest to 
 buy, for that is the interest of the seller. By this means 
 you can approach his feelings more nearly, and he will 
 have confidence in your recommendation and in your 
 opinion, for he well understands the seller knows more 
 about the value of goods than he does, or possibly can 
 know. If there are defects or imperfections in them, 
 tell him frankly of them, for if he finds them out after- 
 wards, you are sure to lose more than you may have 
 gained in the particular operation. Trifling attentions, 
 which might seem of no importance in themselves, please 
 the customer, and though it may not bring the dollar then, 
 it is sure to do so sooner or later. Money is made in 
 this way by every action and word that interests the cus- 
 tomer in you and your establishment. 
 
178 How to make Money. 
 
 With these general suggestions carefully alluded to, 
 there is no excuse for failure in the retail trade, supposing 
 always that the buyer for the establishment fully under- 
 stands the business and does not buy more stock than 
 his capital warrants. Rapid sales with small profits will 
 soon tell. If you are lucky, and by chance get bargains 
 in purchasing, divide with your customers, for you must 
 always bear in mind that their interests are your inter- 
 ests ; and if your business is known to be conducted on 
 this plan, they will be constantly flocking to your store 
 to see if you have had good luck in this way, for they 
 are as anxious to pick up bargains as you possibly can 
 be. By this means you will sell other goods. 
 
 It could be shown by facts, that the kind of business 
 is of very little importance ; one is about as good as 
 another, though some can be more extended than others. 
 A small beginning is better than a large one, on the 
 same principle that it is always better to have too small 
 a store to do your business in than too large a one. Let 
 us look a little at the profits and the results, so that you 
 can know when you are doing well. If you make on the 
 start sure, every day, three dollars, for 313 working days, 
 over and above all losses by depreciations and expenses, 
 you are making more than the average of wholesale mer- 
 chants ; that is, if you make it and keep it. This small 
 sum, if increased to six dollars the second, to nine dollars 
 the third, to twelve dollars the fourth year, and so on, 
 will make in ten years, if improved in your own business 
 at 8 per cent., a large sum of money. If the daily earn- 
 ings should be three dollars per day, gives $13,980. 
 If six dollars, gives $27,961. If twelve dollars, gives 
 $55,922. If twenty dollars, gives $93,205. If the 
 money was kept in the business, and the business well 
 
How to make Money. 179 
 
 managed, it would, in all probability, increase faster than 
 8 per cent, per annum, and in order to secure the earn- 
 ings and make them work to the best advantage, this 
 course would be the proper one to pursue. 
 
 But the same trouble generally attends this as it does 
 other businesses. Tradesmen are apt to take money out 
 of their business and invest it in other modes of money- 
 making. If they do, they encounter the risk of doing 
 that which they do not understand, and loss results, to 
 a dead certainty. Just here is all the trouble. If, how- 
 ever, the retailer has more money in his business than 
 he wants, if he can buy all the stock he wants for cash 
 and still have cash over, it must be set at work to earn. 
 The mode of doing this will be explained hereafter. 
 
 Causes of failure may be % stated to be generally : 
 
 First. Want of knowledge of the suitableness and 
 value of the goods purchased. 
 
 Second. Too much expense for the amount of busi- 
 ness done. 
 
 Third. Want of care ; to know how everything stands. 
 
 The general principles which insure success are : 
 
 Be polite. Work at clerking till you save enough to 
 start on. 
 
 Be polite. Owe no man a dollar. 
 
 Be polite. Trust nothing, because you can sell without. 
 
 Be polite. Rise early and work late. 
 
 Be polite. Know the market value of what you buy 
 and its demand. 
 
 Be polite. Keep slow goods moving. 
 
 Be polite. Be honest, economical, and industrious. 
 
 Be polite. Take care of that which needs care. 
 
 Be polite. Cheap bought, easy sold. 
 
 Be polite. Keep insured. 
 
180 How to make Money. 
 
 Be polite. Turn all your keys yourself, if possible. 
 
 Be polite. Make your customers' interest your own. 
 
 Be polite. Keep expenses down ; make your profits 
 rise. 
 
 Be polite. Catch the passing penny, then hold it. 
 
 Be polite. Keep your glass, your stock, and your con- 
 science clean. 
 
 Be polite. Buy slow ; sell quick. 
 
 Be polite. Beware of your friends, but not your cus- 
 tomers. 
 
 Be polite. Mind your own business ; you cannot afford 
 to attend to another's without pay. 
 
 Be polite. When you buy, keep one eye on the goods, 
 the other on the seller. 
 
 Be polite. When you sell, keep both eyes on the 
 buyer. 
 
 Be polite. Few words and many pennies ; time is 
 money. 
 
 Be polite. A failure, if honest, is capital by experi- 
 ence ; start anew, don't lose it. 
 
 By the use of these general principles, it is very easy 
 to get business ; and this is all that is necessary to make 
 money. Remember, that to make every one who enters 
 your place of business friendly to you, and interested in 
 you, is to have a walking-advertisement that will bring 
 you untold dollars. The sum you make on a sale is of 
 not the slightest consequence in proportion to this. 
 Save your customer, and his interest, at all hazards, and 
 never let him go away dissatisfied, no matter what it 
 costs ; you will make money by the operation. The old 
 adage of " Throw a sprat to catch a mackerel," should be 
 studied in its true philosophy ; and no matter what the 
 business may be, as in fishing, the principle pays well in 
 
How to make Money. 181 
 
 money. If you are after that, your feelings should never 
 be allowed to stand between you and your object. 
 
 There are many principles found in the other parts of 
 this book, that apply equally to this trade as they do to 
 others ; and although what has been said under this head 
 may be of advantage, there are many others that could 
 be said equally so. 
 
1 82 How to make Money. 
 
 CHAPTER XIII. 
 
 MANUFACTURING BUSINESS. 
 
 Important stand. Phases of labor. Imperfect arrangements. 
 Sinks capital. As a rule successful. Two name credits. 
 Guarantee. Himself judging credits. Not so much made. 
 Combination of qualities. A maximum outlay. Fortunes ex- 
 pended. All things to correspond. Comfort and ease. Slave 
 to business. Manufacturers and merchants laugh. Large re- 
 sults. What becomes of it. Profit and loss account. Might 
 be avoided. Such financiering. Robin is alive. Power of 
 individual judgment. Pile of gold or bank bills. Reputed 
 credit is taken. Snug business. Under control. Happiness 
 and most money. Calculations of expenditures. Talent and 
 judgment ahead. Back-door leak. Wrong end first. Cause 
 of failure. Grand pitfall. All general principles applicable. 
 What paper to take. Wonder why they do not thrive. Leak 
 in the bottom. Male and female operatives. Principals and 
 operatives compared. One as much chance as the other. > 
 Operative best chance for independence. 
 
 By the course of events, this branch has assumed a very 
 important stand among other businesses, and large 
 amounts of money are made by it, both by the employer 
 and the employed. It gives great scope for genius in 
 labor-saving machinery, and to the skilful mechanic in 
 their construction. It is, also, one of the means of 
 making money work to advantage, by its use as capital, 
 and generally may be regarded, in all its phases of labor 
 or its products, as a money-maker. The causes of failure 
 in this business are the same, generally, as the causes of 
 failure in other departments of credit, or interchanging 
 
How to make Money. 183 
 
 of products. The trouble does not lie in the ability to 
 produce or obtain a market for the products. Failures, 
 or losses from such causes, are rare. The manufacturer 
 frequently sinks capital, in the first outlay in buildings 
 and machinery, from the want of knowledge of what he 
 does require for his purposes. But if he understands 
 just what he requires to accomplish his ends, the busi- 
 ness, as a general rule, is successful, and the results in 
 money gained are generally successful also. 
 
 The general results to. the owner are more complete 
 than in most other business ; more successful, as a rule, 
 than wholesale merchandizing, or the mechanical trader, 
 where these two latter depend upon their own judgment 
 of credits for their sales. The reason of this is appa- 
 rent. Manufacturing is generally carried on at a remote 
 or inconvenient place for sale, and the manufacturer is 
 compelled to employ a commission-house to accomplish 
 this. The commission-house charges a commission on 
 sales, and guarantee for credits given. In this way the 
 manufacturer has two names, instead of one, as is the 
 general case with the wholesale merchant and mecha- 
 nic. Fewer losses result to him, as the commission- 
 merchant, who generally charges 2\ per cent, for guaran- 
 tee, is more cautious in his credits, for so small a profit, 
 than the wholesale merchant or mechanic, who makes 
 his fifteen or twenty per cent. 
 
 When the manufacturer, however, undertakes to make 
 his own sales, and assumes to judge of the value of his 
 credits, he stands about the same chances of success that 
 others do who pursue the same course ; without he is in 
 the market constantly, himself, and sees to the standing 
 of his customers, and is, in every sense, a stirring busi- 
 ness man, he has but little opportunity of gaining, and 
 
 8* 
 
184 How to make Money. 
 
 an almost certain chance of loss. But it not unfre- 
 quently occurs that the business is of such a nature that 
 it requires the establishment of an exclusive house for 
 the sale of the commodities manufactured. In such a 
 case, it becomes a combined manufactory and mercan- 
 tile business, and if conducted with skill, is almost uni- 
 formly successful. 
 
 To make the most money out of it, requires a peculiar 
 combination of qualities in the management, and the 
 widest range of special requirements, namely : The high- 
 est grade of mechanical skill, to adapt proper machinery ; 
 a superior knowledge of the wants to be supplied ; a con- 
 centrated and vigorous action throughout the manufactu- 
 ring department, and in the selling department ; mercan- 
 tile skill as a wholesale or retail dealer, as the nature of 
 the business may require. It would, therefore, seem to 
 combine almost all other trades and businesses within 
 itself; demanding, also, that they should work harmoni- 
 ously and perfectly together. 
 
 It is apparent, then, that it is a business requiring the 
 utmost care to be successful ; that is, to make the larg- 
 est success possible. Nor are there many men who take 
 the trouble, when they are about entering into or esta- 
 blishing a manufactory, to investigate the matter, and 
 know just what they may be able to do as their maxi- 
 mum, and make their machinery accordingly ; but they 
 start by degrees, putting up one thing one year, and pull- 
 ing it down the next, because not large enough ; and 
 again pull it down the next, and put up something still 
 larger ; and so go on, from year to year, till at length 
 they get a maximum machine that will do the maximum 
 work. 
 
 How many instances can every reader call to his 
 
How to make Money. 185 
 
 mind of this kind, where even the buildings themselves 
 are abandoned and new ones built, because a proper 
 foundation was not laid for increasing wants at the begin- 
 ning. It may be safely stated that fortunes are thus ex- 
 pended in the course of a few years by just such want 
 of forecast. Few men, if any, strike, high enough ; and 
 in knowing just whereto strike the most money is made. 
 
 As a general rule, they commence moderate, and as 
 the business increases they tear down and build over, 
 and thus go on increasing and increasing till it becomes 
 too large for profit or too unwieldy for success, and some 
 unforeseen event leads to embarrassment or failure. 
 Commence with a view to a fair business as a maximum, 
 make all things to correspond to it, and when it is at- 
 tained be satisfied and reap the benefits in a thrifty and 
 steady business always under control. When you get 
 money enough pay all your bills in cash, and if there is 
 a surplus, invest. Comfort and ease will attend you, and 
 prosperity and an early fortune will be the reward. 
 
 Business should be looked at as an occupation and a 
 means of support first, and an independence or a fortune 
 afterwards. You may as well be a slave in another way 
 as be one to your business. Nor is the large business 
 the sure road to fortune ; it is the most insecure route. 
 The sure road, with comfort, is to make slow and sure, 
 and always be your own master ; and you have but to 
 look at the tables of earnings to see how moderate the 
 income requires to be to accomplish with ease what you 
 desire. A large manufacturer would probably laugh, as 
 the wholesale merchant would, that fifty dollars a day 
 saved and improved is a very heavy amount, and more 
 than one in ten makes in the long run. Even this small 
 amount in twenty years of business, improved at 6 per 
 
1 86 How to make Money. 
 
 cent., would be $590,015 ; if at 7 per cent, $661,606 
 How many large manufacturers do this ? In truth, how 
 few make their $5,000 per annum ? For this income 
 yearly improved in like manner reaches respectively 
 $188,450 $211,318 only $15.97 per day. What manu- 
 facturer of any note could not make this, and have it 
 clear at the end of twenty years ? 
 
 These are large figures for the ordinary run of manufac- 
 turers, who suppose themselves worth that, or even more 
 any day in the year, but how many come out after twenty 
 years of business with this amount of clear cash be- 
 sides their operating gear and traps ? Very few ; and why 
 not more ? Any manufacturer pretending to do business 
 would sneer at the idea of making but $16 per day, with 
 a manufactory, tools, and men. So they might, and they 
 do make more ; but what becomes of it that is the ques- 
 tion ? Lost in bad debts ; spent in extensions ; lost in 
 side operations ; lost by indorsing ; lost by lending ; 
 and lost or spent in a hundred-and-one ways. 
 
 Let any manufacturing concern in the country that has 
 run 10 or 20 years but look back upon its books and ex- 
 amine the profit and loss account, and the owner will be 
 satisfied. Then let him examine closely, and see if all these 
 losses and expenditures might not have been avoided; 
 if not all, at least most of them. He would be taught 
 a lesson which, if he improved, would make him a rich 
 man, if he was not, in ten, rather than twenty years. 
 Without he was a prodigy in his business, he would find 
 that his judgment upon credits alone had cost him a for- 
 tune. That on this one item, instead of selling for short 
 paper and a good indorser at a less profit, he had been 
 unwise in parting with his substance for single name 
 paper, which every one in trade knows the value, of 
 
How to make Money. 187 
 
 sooner or later. Such financiering to make money is 
 like the child's game of lighting a splinter of wood and 
 passing it from hand to hand, saying : 
 
 " Eobin is alive, and live like to be, 
 If he dies in my hand you may saddle-bag me." 
 
 In other words, most business men take risks of credit 
 because others do the same, and it requires a well trained 
 determination not to be influenced by such action. 
 More money has been lost, or not made, by assuming 
 credits than from any other cause. In fact, a business man 
 may be sure he is liable to error in this respect when he 
 does not lay out all the power of his own individual judg- 
 ment. As has been remarked before, he is never safe in 
 making a credit until he has considered how much labor 
 has been spent to obtain the amount he proposes to risk, 
 and if the profit be the temptation, he may be morally 
 sure he is going to make a mistake. It is a good rule to 
 pile up the amount in gold, or in bank bills, upon a table, 
 having first obtained all the information upon the value 
 of the credit that can be obtained by any possible means, 
 and then make a decision. In about seven or eight cases 
 in ten, he will conclude to take the risk, otherwise he 
 will probably take twelve out of every fifteen, and proba- 
 bly more. 
 
 Nothing is so profitable in the long run as a snug, 
 well managed cash, or close credit business. If the 
 goods made are always good, they will be always salable, 
 either for cash or good indorsed paper, or paper about 
 which there is little or no risk. The manufacturer has 
 less labor to perform to make the same amount of money. 
 He is happy and comfortable in his business and in his 
 home ; buys to better advantage and sells to bettei 
 
1 88 How to make Money. 
 
 advantage ; is strong wherever he is felt, and when sales 
 are dull in the market he can accumulate stock without 
 weakening or cramping himself. It is always better to 
 have your goods inquired for, and sometimes not be 
 found, than to have them always found when inquired for 
 You will make more money. 
 
 There is, too, money made by considering every expen- 
 diture, and seeing whether it can be lessened or avoided. 
 Things are often replaced by new ones when the old 
 ones will do, though possibly not quite so well ; and it 
 must be the subjet of close calculation to see when that 
 moment arrives. Where the new are necessary for pro- 
 fit, what is done for show or display is generally a dead 
 loss ; the same amount taken off the profit on your goods 
 will insure sales for cash or first rate values on credit. 
 
 In truth, it may be said that vigorous action and close 
 attention will make money in this department of business 
 fast. There is no difficulty in managing this part of the 
 business, and all the talent and judgment in the concern 
 will do best and make the most money for it, not here, but 
 in close attention as to what is got for the goods when 
 made and sold. 
 
 As most trading is now or has been carried on, the 
 talent manages to get, and pay, while the goods slip out 
 the back-door in charge of subordinates. If the matter be 
 just reversed, success will follow. For if there is any 
 one principle well established in trading it is this, that 
 almost all failures are attributable to losses by those to 
 whom valuables or goods are sold ; not by store expenses, 
 not by depreciation of goods, not by buying goods, not 
 by having too much on hand. Isolated cases there may 
 be, where failures result from some one or other of these 
 causes, but they are so rare that they are not worth 
 
How to make Money. i8g 
 
 noticing, whereas the other is the grand pitfall into which 
 traders plunge themselves. 
 
 All the general principles of banking, wholesale mer- 
 chandizing, retail merchandizing, and of mechanical busi- 
 ness, in the previous chapters, are more or less applicable 
 to this business. In that of banking may be found a valu- 
 able lesson for any manufacturer to follow. If he goes to a 
 bank to get money on his note he can answer whether he 
 can get it without an indorser. If he can he is lucky, 
 and is in good credit. Are the goods you sell less valu- 
 able than their money ? If they are as valuable then sell 
 them for as good paper as your own, if the bank will take 
 it without indorsement ; but if they will not, then sell 
 them for as good paper as you give the bank, and, rely 
 upon it, you are nearer being rich suddenly than you ever 
 were before. 
 
 Of course there are a few in every department of trade 
 who do conduct their business upon such principles, and 
 who are successful ; but those that do not, wonder why 
 they are not equally thrifty. They work hard, think they 
 are industrious and enterprising, and they are so in 
 reality ; but while they pour the dollars into their coffers 
 rapidly, they about as rapidly disappear. They keep 
 watch of the top, but pay little attention to the bottom, 
 where the real leak occurs. 
 
 This. business affords employment to a large portion 
 of our population, male and female, giving them an oppor- 
 tunity to gain an early independence, or if their industry 
 and savings are continued, a fortune. If they procure 
 constant employment and good wages, small savings well 
 improved, will soon give a large amount. All the prin- 
 ciples laid down as the best means of increasing the 
 value of their labor given heretofore, should be carefully 
 
190 How to make Money. 
 
 attended to, if they would accomplish the end they desire. 
 And if general results are looked at, the principals have 
 no greater opportunity of making money than the opera- 
 tives, for we will show an example by which this can be 
 judged of. 
 
 A manufacturer goes into business with a cash capital 
 of $25,000 ; the operative with none. The principal has 
 to make, before he realizes any profit, his entire expenses 
 and the interest on his capital, before he is on an equal 
 footing with the operative. All this, of course, requires 
 many expenditures, and he probably has much more in- 
 terest to pay, over and above his capital. But all such 
 matters must come out of the profits ; the interest on 
 the capital, and the capital itself, must only be taken as 
 a comparison. The interest on $25,000 is $1,750, yearly. 
 Then the manufacturer has to make, in 20 years, $73,968, 
 simply to get 7 per cent, on his capital. Suppose the 
 operative laid by $2 per day for the same time, he would 
 have, by tables of earnings, $26,464. The manufacturer 
 would have to make, in the same time, $100,432, to have 
 made, over and above his interest on capital, the same 
 amount as the operative. 
 
 When it is considered that the manufacturer may lose 
 his whole capital, and make nothing into the bargain ; 
 and if he does, his money is in property, generally, and 
 not in cash, as it is in the case of the operative, there 
 would seem to be a large balance in favor of the opera- 
 tive, over principals with small manufacturing capitals. 
 The operative gains steadily and securely, with no risks 
 except that of getting employment, and that depends 
 upon himself, while the principal may lose all. 
 
How to make Money. 191 
 
 CHAPTER XIV. 
 
 WHOLESALE MERCHANDIZING. 
 
 Nothing saved. Startling proposition. Millions made. Capital 
 lost on average. Elements of calculation. Banking and mer- 
 chandizing compared. Merchants don't make 7 per cent. Banks 
 succeed, merchants fail. Capitals compared.- Results. More 
 profit more loss. Secret of failures. Profits over 7 per cent. - 
 Manner of doing it. Auctioneers most successful. Reason. 
 Double name paper or cash. Since i860 great earnings. Cause. 
 Change, probably. Old story. Examination of credits. Made 
 able to pay. Shave customer, shave yourself. Short indorsed 
 paper. Mode of crediting. References. Mercantile agencies. 
 Called reliable. Good as an auxiliary. Not relied on alone. 
 Every item. Mercantile clerks. Jobbing merchants. Where the 
 trouble lies. Ability in the wrong place. Without recourse. 
 Make money fast. Make one thousand dollars. Rich in ten 
 years. Example. Small per diem earnings. Suggestions. 
 Failure paid for. Give all to creditors. Pay for blunder com- 
 mendable. Good treatment. Makes money. 
 
 It is asserted here that up to the year 1862 nothing, 
 comparatively, has been made in this branch of trade in 
 the three large cities, New York, Philadelphia, and Bos- 
 ton. Rather a startling proposition, but nevertheless 
 true, as to realized profits. That is, the amount of capi- 
 tal invested has no more than been withdrawn as a total 
 result, if it has that. While millions upon millions have 
 been made, nothing has been saved in the aggregate. 
 Few have been fortunate enough to retire at high tide 
 and take with them round little fortunes. Now, suppose 
 we take the average capital of wholesale houses during 
 that time to be $50,000, and see what that would amount 
 to improved at compound interest at 7 per cent, for an 
 
192 How to make Money. 
 
 average term of 25 years in business. By the table, we 
 find it to be #271,500. So that in order to make any- 
 thing, they must come out with more money than this 
 sum being their capital improved for twenty-five years, 
 if they continue in business so long. If the whole or 
 the average do this, with this sum, they have simply made 
 expenses. This, however, is far above the average. For, 
 as has been seen by the statistics, not 5 per cent, but 
 what fail entirely. 
 
 The cause of such failure becomes a matter of consi- 
 deration in the calculation for success. What are the ele- 
 ments of this calculation, and where are we to look for 
 the remedy ? This is the grand point. Now, why do 
 these merchants fail ? Is it owing to want of capital ? 
 Not at all ; for those who have large capitals, even as 
 much or more than successful banks, generally fail. Now, 
 let us look what a bank makes, and compare it with what 
 a mercantile house makes on the same capital. A bank 
 stands in good credit, is considered safe, and its stock 
 sought after, which year after year pays 7 per cent. A 
 mercantile house, with the same capital, would be con- 
 sidered as doing business to no advantage if they did no 
 more than divide the interest on their capital at the end 
 of the year. Here, then, is a paradox. Why is the mer- 
 cantile house, which deals in the same thing as the bank, 
 expected to make more? The bank has 12 to 14 ex- 
 perienced business men, selected on account of their suc- 
 cess, to do their business, while the mercantile firm has one, 
 two, or three. The odds on making even 7 per cent, 
 seem to be against the mercantile house. 
 
 The banks, too, generally succeed, while the mercan- 
 tile houses generally fail, which shows that they do not 
 make as much as banks. This is true. Now, let us sup- 
 
How to make Money. 193 
 
 pose a bank with $200,000 capital, and that they divide 
 $14,000 to the stockholders, after paying all expenses. 
 Suppose, also, we have a mercantile firm with the same 
 capital, and that it should turn its capital over three 
 times a year ; that is, should sell $600,000. To do as well 
 as the bank, they would have to divide $14,000, the bal- 
 ance to go for expenses, or about 2\ per cent, on sales. 
 If there were three partners doing the business, each 
 with families, as a safe rule, their united expenses would 
 be $15,000, and store expenses, at least $10,000, making 
 the .grand total to be made on sale of $600,000 $39,000, 
 or 6\ per cent. Now, if the firm lost nothing, they 
 would, on this statement, just clear the interest on their 
 capital, and if they did lose, so much would have to be 
 deducted. 
 
 But such an amount of sales, without loss, on the pre- 
 sent system of doing business, is impossible ; so that one 
 of two things must take place either they would not 
 make the interest on their capital, or they would have to 
 make more profit in order to do it, to cover losses. Now 
 the settled principle in business is, the more profit the 
 more loss ; and as a general rule, the profit over the settled 
 rate of interest will be absorbed by loss. Close around 
 this principle, then, lies the great secret of mercantile 
 failures. To ascertain just where it is, and what it is, is 
 the great desideratum. 
 
 As goods are sold, every one acquainted with business 
 of this kind knows, that the average profit on sales 
 amounting to $600,000 is more than $39,000, and that' at 
 a low calculation it reaches from $60,000 to $90,000. This 
 result would be eminently satisfactory if there were no 
 losses ; for the net profit after paying expenses and interest 
 on money, on the supposition we have made, would amount 
 
194 How to make Money. 
 
 to from $21,000 to $51,000, say take the average $36,000 
 If the firm did this business for 20 years, we should have 
 by the table of earnings the sum of $1,521,826; if the 
 earnings were improved at 7 per cent., or if continued 
 for 25 years, the sum of $2,357,838 ; in like manner, if 
 for 30 years, the sum of $3,417,993 ; if for 40 years, 
 $7,547,062 ; or, if for 50 years, $15,526,069. It must be 
 remembered that this is over and above the interest on 
 the capital, $200,000, and over and above what a bank 
 would make in the same time, profits improved at 7 per 
 cent, on the same capital, if it divided 7 per cent, as its 
 profits. 
 
 Now, is there no way that the merchant can secure a 
 part, if not the whole of this difference ? It is believed 
 that there is, and that will entirely depend upon the 
 manner in which the business is done. If he made no 
 losses the thing could be accomplished, for there is no 
 difficulty in making the sum of profits by sales. Then 
 the whole difficulty lies in the losses incurred. How can 
 these be prevented ? In the answer to this question lies 
 the success or failure. 
 
 The most successful merchants, as a class, are the 
 auctioneers. Why? Because they do their business 
 nearer the principles of banking than other merchants. 
 They sell on shorter credits and for indorsed paper, or 
 for cash. Their commissions are small compared with 
 the merchant's profits, and they demand and get security 
 accordingly. From these facts, and a general considera- 
 tion of the subject, cash sales or sales for short and in- 
 dorsed paper, will give the required results, provided due 
 care is taken in the selection. 
 
 Since i860, mercantile business has been done more 
 for cash and short credit, and the result is apparent to 
 
How to make Money. 195 
 
 any one. There never has been a time in this country 
 when merchants have been in a more prosperous and 
 healthy condition. This will not in all probability re- 
 main so long. The inordinate desires, and the necessity, 
 from expenses, to make more, will induce longer credits, 
 and hence larger profits, thereby giving the buyer a 
 chance to use the proceeds of goods in side operations, 
 or cripple himself by the increased price of goods, till 
 the same old story is re-enacted for the thousandth time 
 loss all around. 
 
 The general impression is among merchants, that if 
 they can secure a customer and sell him at a large profit 
 and get his note, and , it is said to be good, here the 
 matter ends. As the very foundation of the security of 
 the note, the merchant should see that his customer not 
 only got his goods of him at a price that he could make 
 ready sale of them, but that he bought of other good 
 houses doing business upon the same principles know 
 all that he buys, and of whom, and when due. In other 
 words, see to it that your customer is made able to pay by 
 a judicious and careful selection of his whole stock. To 
 shave a customer is but to shave yourself. Look at the 
 prospects, the profits of your customer, as though they 
 were your own ; for they will turn out so in the end, 
 whether you attend to it or not. 
 
 This is one, and the surest way, to make your note 
 good and have it paid ; but if the customer feels that 
 this is more than he wishes to communicate, sell him, if 
 you can, for good indorsed paper, on short time, or for 
 cash, by taking off a liberal per cent. You will probably 
 lose by selling him otherwise. These seem to be strin- 
 gent terms, but it is easy to show from statistics and ex- 
 perience that it will make most in the end. 
 
196 How to make Money. 
 
 The usual mode of giving credits by mercantile firms i? 
 to drum in any stranger that can be found at any hotel, 
 and sell him a bill of goods, making the most profit thai 
 can be stuck on. After this is done he is asked for his 
 references, and the salesman, a clerk, and sometimes the 
 porter, is started off to make the inquiries. Of course they 
 are all, as a general rule, satisfactory ; for the buyer would 
 not send you to any one who would not speak well of him. 
 Generally they are merchants, who are selling the same 
 individual, and their interest lies in your selling him, too. 
 
 Then resort is had to a mercantile agency to be sure 
 the best place where you can get what is called reliable 
 information, and they are usually valuable on the higher 
 grades of credit. But if you take their recommendations 
 you look to the amount of your own sale as compared 
 with his capital or business ability, but know nothing of 
 how much he is buying on his capital, at the time, of oth- 
 ers ; so that he may be good for a small purchase made of 
 you, but if you knew he was purchasing at the same time 
 $50,000 on a capital of $5,000, you would probably not 
 sell him. So that such information is not reliable as a 
 means of giving credits. It may be an auxiliary, but 
 should never be relied on alone. No intelligent opinion 
 can be arrived at in giving credits on single-name paper 
 when you are not in possession of every item of the indi- 
 vidual's business. And to accomplish this end (if it was 
 practicable) houses might club together who sold the va- 
 rious articles on credit to country merchants, whereby 
 they could control the subject on single-name paper. 
 
 These remarks are more particularly directed to the 
 interest of the jobbing merchant, but his credit in like 
 manner is dependent upon the same general principles ; 
 and the merchant who sells him must, in like manner, 
 
How to make Money. 197 
 
 scrutinize the elements of his business. For it must be 
 borne in mind that upon dealing for cash or short indorsed 
 paper, or any single-name credit, and upon its careful 
 selection, depends the success of the merchant or his fail- 
 ure. That while toil, anxiety, hard labor, saving and ac- 
 cumulating, are not the act of a day or an hour, how fre- 
 quently do we see all this hazarded by a credit decided 
 upon in a few moments, and that, too, not by the intelli- 
 gent action of the owner, but generally by youth, inexpe- 
 rience, and by him who had no interest in the result. Is 
 it then. a wonder that merchants fail ? or if not, lose largely 
 by such inattention at the very working-point, requiring 
 all the judgment, tact, skill, and knowledge, that can by 
 any conceivable means be brought to bear. 
 
 It is a safe rule in crediting, when you can dispose of 
 the paper without recourse. If this be adopted as a set- 
 tled rule of a mercantile house, and they pursue it (and 
 it can be done), they will certainly make money and make 
 it fast. There is no trouble in doing it in individual cases, 
 but if that should be adopted as a rule generally it would 
 become impracticable. There is no fear, however, that 
 merchants will suddenly become so wise and keen. Any 
 one may undertake it with impunity and be sure to make 
 an early fortune. 
 
 The merchant who starts in business with the deter- 
 mination to make one thousand dollars a year for the first 
 year over and above his expenses, and determines to owe 
 no man a dollar at the end of the year, and to have the 
 money in bank, or in good salable property, will, if that 
 course be pursued, be a rich man at the end of ten years. 
 This is more than the average of mercantile houses 
 make, as will be seen by looking at the statistics given in 
 a former chapter. Let us examine this case. The 
 
198 How to make Money. 
 
 second year he will undoubtedly make this $1,000 
 $2,000, and in the third year $3,000, and so on increase 
 $ 1,000 every year till the end of ten years. He will, then, 
 have made, keeping the money working in his business, 
 say an average of $5,000 per year, and by using it in 
 cash purchases will improve it equal to 8 per cent, per 
 annum. This will be on an average $16 per day. Look 
 at the table of earnings for 10 years, and we find the 
 earnings of $10, $5, and $1, added together, give the neat 
 little sum of $74,564.31. If he only made $1,000 per 
 annum for 25 years, and improved it at 8 per cent, in his 
 business, he would have $74,342, being $3.13 per day 
 improved at 8 per cent. 
 
 What merchant, however, with ordinary means, selling 
 for cash or passing paper without recourse, cannot make 
 $25 per day? This in 10 years would, improved at 7 
 per cent, be $111,144; in 25 years, $512,549; in 30 
 years, $768,865 ; in 40 years, $1,640,525 ; in 50 years, 
 $3,374,939. How many accomplish these sums ? and 
 how few who do not make this sum per day, and even 
 more. It is no great sum to make, but a very large sum 
 to keep. From this it will be seen how much of the 
 energies and attention of the merchant should be turned 
 in this direction. It is, in fact, the whole matter of money- 
 making. The getting of the small daily sums will com- 
 paratively take care of itself. 
 
 The following suggestions may not be out of place. 
 
 Look to your credits. Owe no man a dollar if you can 
 avoid it. 
 
 Look to your credits. Credit no more than you can 
 afford to lose, but no credit will make more money. 
 
 Look to your credits. Have a general extended know- 
 ledge of all things you deal in. 
 
How to make Money. 199 
 
 Look to your credits. Go into business on your own 
 account late rather than too early in life. 
 
 Look to your credits. Get into an old firm rather than 
 establish a new one. 
 
 Look to your credits. Avoid large sales to individuals. 
 
 Look to your credits. When you buy, take care ; when 
 you sell, take quadruple care. 
 
 Look to your credits. Make no useless expenditures 
 while you owe others. v 
 
 Look to your credits. Make a little and make it sure ; 
 then look at it. 
 
 Look to your credits. Keep your property well in- 
 sured ; you cannot afford to lose while you are trying to 
 make. 
 
 Look to your credits. Be honest, economical, agree- 
 able, and pleasant. 
 
 Look to your credits. Keep your expenses low and 
 your profits high. 
 
 Look to your credits. Look out when your credit is 
 too good. 
 
 Look to your credits. Take little credit and have much 
 money. 
 
 Look to your credits. Have a small house and large 
 capital. 
 
 Look to your credits. Be modest, but feel your 
 strength. 
 
 Look to your credits. Let fashion alone, or it will not 
 let you alone. 
 
 Look to your credits. Marry early a good wife ; a poor 
 one is better than none. 
 
 Look to your credits. Mrs. Grundy will not pay your 
 bills; therefore don't let your wife spend too much to 
 please her. 
 
 9 
 
200 How to make Money. 
 
 Look to your credits. Have an eye to all that may 
 damage by neglect. 
 
 Look to your credits. If you fail, give up all to your 
 creditors and start anew. 
 
 Failure is one of the things paid for by the purchaser 
 in the price of his goods, and, therefore, he has the moral 
 right to fail. But when he does fail, he is morally bound 
 to give up what he has to his creditors, for that is pre- 
 supposed in the sale. Failure as a rule is disgraceful, 
 because it indicates inability and want of skill and know- 
 ledge, and hence affects the individual for life. The seller 
 charges a guarantee on the sale to cover loss by failure, 
 and the individual is bound by no rule of honesty to pay 
 more than what he has on hand at the time of failure. 
 To do so afterwards, and pay in full for his own blunder, 
 is commendable. 
 
 No one can properly estimate the money benefit that 
 arises in treating those whom you employ justly and 
 fairly. Kind, gentle, and proper treatment to those who 
 work for you or manage your affairs, will put untold 
 dollars in your pocket. The reverse will lose you as 
 much, if not more. 
 
How to make Money. 201 
 
 CHAPTER XV. 
 
 BROKERAGE AND COMMISSION. 
 
 Kinds of brokerage. Skill and fidelity. Knowledge and activity. 
 Know everything. Trusted. Ultimate success. Broker and 
 owner same time. Will leak out. Confidence lost Little 
 costs much. Legitimate brokerage. Solely as agent. No 
 risks. Speculators in stocks. Best way poor enough. Gam- 
 bling table. Reasons why all lose. Same in stocks. Buys 
 and sells without rule. Mathematical chances. When to sell, 
 when to buy. Must do as others do. Then land where others 
 do. Nothing new. Stand to principles. Commission business 
 safe. Simple commission. Credit sales. Your main trouble. 
 Guarantee and bank notes compared. Rightly done, profit- 
 able. Five per cent, large results. Example. Energy and 
 honesty. Acceptance without property. Danger. Violating 
 business rule. No risk pays best. Capital. Business quali- 
 ties. Owners scrutinize every point. Capable and reliable. 
 Satisfactory results. 
 
 Brokerage is a percentage paid for selling or procuring 
 property of various kinds, procuring insurance, or labor, 
 or money. The percentage is sometimes paid by the 
 person receiving, and sometimes by the parties parting 
 with property, labor, or money, or the insured or insu- 
 rer. There are other kinds of brokerage, but those 
 noted are the most important classes. The first, broker- 
 age for selling or parting with property, is made by the 
 purchase, or sale of stocks, merchandize; vessels, real 
 estate, and the like ; the second, procuring fire, marine, 
 inland, or life insurance ; the third, shipping seamen, 
 hiring servants, or laborers, and the like ; the fourth pro- 
 
202 How to make Money. 
 
 curing money on bonds and mortgages, loans on securi- 
 ties, on notes of hand, and the like. 
 
 The value of these various services to all parties depends 
 upon the skill and fidelity with which the trust is fulfilled. 
 The ability of the broker to fulfil the trust to advantage 
 to himself and his principal, depends upon his knowledge 
 and activity. Then, to make the most money by his 
 business, he must act for the interest of his employer and 
 be perfectly reliable and honest, skilful and active. He 
 must know everything about the matters in hand, both 
 in value, supply, and demand. He stands to his employer 
 in the light of a trustee. The manner in which he per- 
 forms this duty will either make him or lose him money. 
 It may not in a particular instance, for he will get his 
 brokerage whether the work be well or ill done ; but 
 how will it be with the next operation, and with his repu- 
 tation to get more business ? 
 
 His ultimate success will depend upon the above, 
 mainly, but there is still another, and that is, whether he 
 confines himself striclly to his legitimate business. A 
 broker cannot be a broker and at the same time buyer 
 and seller on his own account, without losing money by 
 the combination. He cannot be a buyer and seller 
 extensively, or he will lose the character of a broker alto- 
 gether. He will have to buy and sell on the sly, if he 
 does it at all, and be assured it will leak out. The buyer 
 then will not know whether he is buying of the owner, or 
 of the owner through a broker, or whether he is selling 
 to his broker, or through his broker to another. All 
 confidence is at once lost, and the broker loses the most. 
 
 The little money he might make on a side operation, 
 will be largely overbalanced by loss of his regular busi- 
 ness. If a broker wants to buy, employ another broker 
 
How to make Money. 203 
 
 to buy for him, or proclaim the purchase to be for 
 investment. Never speculate in the articles you buy and 
 sell for others ; you will lose more than you will make. 
 
 The most money, if the business is legitimately carried 
 on, is in brokerage on the sale and purchase of stock, 
 but the temptation to brokers is so great in this business 
 to speculate in them on their own account, that few men 
 have the strength of mind and ability to resist ; and 
 hence few start with a fixed determination to act only as 
 agents that do not soon find themselves in the almost 
 universally confused vortex of broker and speculator, and 
 the result of such combination is generally failure in the 
 end. Whereas a strict adherence to a simple brokerage, 
 taking no risks,, and acting solely as agent, will roll up 
 a fortune in a short time. It requires only to be known 
 that by no per adventure money in your hands could be lost, 
 and dollars will roll in on such a concern from every 
 quarter of the country. To this end never sign your 
 name to a responsibility or assume one. Take the proceeds 
 of each day's business and set it to work at interest, and 
 you have only to look at the tables of earnings and put 
 your finger on the year when you will have a fortune. 
 
 You may have customers and probably will, who specu- 
 late in stocks, and if you cannot refrain from doing so 
 yourself, it is well enough to know the best way it can 
 be done ; but the best way is poor enough in all conscience, 
 as the experience of all will certify. If any one has 
 nothing to lose and everything to gain, this sort of busi- 
 ness is as good to him as any other ; but not otherwise. 
 There are certain rules of the gambling table that apply 
 in stock speculation. As a rule, one would naturally sup- 
 pose that it was an even chance to win or lose ; but there 
 is not one chance in one hundred of winning in the long 
 
204 How to make Money. 
 
 run, when there are ninety-nine that you will lose. The 
 reason why the gambling table is so fatal is not because 
 there is not as much chance of winning as losing on a 
 single cast, for there is just as much, less the percentage 
 in favor of the table to pay current expenses. But the 
 trouble and fatality lie in this, that the game is usually 
 continued when the table is the laigest loser, and the 
 game stops when the better is the largest loser, and has 
 no more money to go on with. These fluctuations being 
 very great, the bank always goes on because of its capital, 
 while the better, not having an equal capital, is bound to 
 stop he is broke. 
 
 It is just so in stock speculations, except that there is 
 a still more fatal element in that than in gambling. A 
 man buys a stock to rise, and he will hardly ever strike 
 the highest point or sell to an advantage. Why ? Be- 
 cause he will either be afraid that it will not go higher 
 and sell at a small rise, or wait for it to go still higher 
 and then not sell till it gets lower. If it begins to fall, 
 however, he will not sell at the first fall, for he believes it 
 will recover ; and it still goes down and down till he will, 
 usually, like the gambler, stop at the lowest point. 
 
 The only hope of making money by speculating in 
 stocks is to determine a rule of chance mathematically, 
 and adhere to it strictly. Then suppose a stock is twenty 
 per cent, below its average value, buy what you can hold 
 and determine that you will sell at ten per cent, advance. 
 The chances are in favor of your making the ten per cent. 
 If the stock is above its value never sq\\ short, as you may 
 not be able to get the stock by reason of a corner, and 
 hence will lose largely. Notwithstanding this is the true 
 rule to work upon for safety, the experience of specula- 
 tors is, that the most money has been made in selling 
 
How to make Money. 205 
 
 " short," as it is called ; for generally when stocks begin to 
 tumble, failures occur which bring more of them into the 
 market, and hence prices fall still further, and reach an 
 unnatural depreciation. If the stock is so large as to 
 warrant the belief that a " corner " cannot he had under 
 any combination, it is probably a reasonably safe way to 
 speculate. But to the solid money-maker nothing of the 
 sort should be resorted to, as money always is lost in the 
 end by it. 
 
 As a general rule, if an eight per cent, paying stock is 
 below par, buy ; if a six per cent, paying stock is above 
 par, sell ; if a seven per cent, paying stock is par, hold 
 buy or sell if above or below. Good stocks, if they pay 
 eight per cent., or over, will do to hold to make money ; 
 but if they pay no more than seven per cent., bond and 
 mortgage at seven per cent, is better ; though the stocks 
 are frequently held in order to have convertible securities ; 
 but if they are not so held, bond and mortgage is the 
 safest and the best, because all stocks are liable to acci- 
 dent. Bond and mortgage is not, when proper care is 
 taken. 
 
 A great deal more could be said on this branch of bu- 
 siness, but the limits of this work will not allow. The 
 general principles laid down are all that are required to 
 insure positive success. But one point must not only be 
 remembered but carried to its fullest extent take 110 risk. 
 If your principal wants you to buy, do it in his name as 
 agent. But, says the broker, " I could do no business 
 if I do business, I must do it as others do it." All that 
 can be said to such a one is, then do it } and land just 
 where the whole of them land in the long run. 
 
 But you can do otherwise. Though it may go what 
 might be called slow at first, the moment it becomes 
 
2o6 How to make Money. 
 
 known that you are positive, everybody who wants a 
 legitimate, honest, reliable, and trustworthy broker, will 
 go to you, and will leave the half broker and speculator, 
 for all experience has shown that they are not safe. You 
 will be a rich man, and see them drop down one after 
 another by your side. " There is nothing new under the 
 sun," and " what has been will be again." So that for a 
 time you will probably see prosperity, fortunes, and mil- 
 lions, roll up by the side of your comparatively small 
 earnings ; but the result will be the same as the result 
 of the race between the fox and the tortoise. You have 
 but to stand by your principles and your determination, 
 and you will equal the most prosperous and far outstrip 
 the crowd. All other principles given under the preced- 
 ing chapters as applicable to other businesses must be 
 observed also in this. 
 
 The commission business is also a safe and money- 
 making business. There are two main points in it, how- 
 ever, in one of which lies all the danger of loss. Goods 
 sold purely on commission is of the character of a broker- 
 age, but the per cent, is higher, and this portion of it is 
 safe, and with energy and care, combined with business 
 tact, can always be made profitable amd especially safe, 
 as no risk is run, the principal assuming all. But when 
 sales are made on credit, and the commission merchant 
 guarantees the sales and charges a percentage for it, the 
 danger in this business begins. The commission is very 
 small, and amounts guaranteed very large ; and to make 
 the business at all successful, those conducting it must 
 do it on at least as careful judgment in value of credits 
 as banks take their paper, if not better, for the guarantee 
 ordinarily is 2\ per cent, on six months' paper, while the 
 banks get 3 \ per cent, for the same length of credit paid 
 
How to make Money. 207 
 
 once in the mean time, for they do not take as a general 
 rule over ninety-days' commercial paper. 
 
 Commission business, when it guarantees credit sales, 
 is a very close business ; but without, it is one of the 
 safest, and sometimes the most profitable business, that 
 is done, especially when a house gets 5 per cent, on sales 
 and makes no guarantee. It is not a difficult task for a 
 good house to sell $500,000, and some go as high as 
 $ 1,000,000, and higher. Examine the case of one making 
 this amount of sales, $50,000, less expenses of $20,000, 
 leaving a clear profit of $30,000 per annum. Let this be 
 done for twenty years, and we have, if improved at 7 per 
 cent, the amount of $1,267,196. In ten years this would 
 make $425,126. 
 
 But upon any basis where there are no losses, a com- 
 mission business put to work on these principles will 
 soon realize a splendid amount to the merchant. If 
 business can be procured, there is none so safe as this, 
 nor so certain of realizing an independence, provided the 
 credit sales are not guaranteed. The success, however, 
 depends entirely upon the amount that can be obtained to 
 be done ; but if there is energy and entire honesty to back 
 it, the goods and property will come, possibly slowly at 
 first, but success is certain with perseverance. The 
 great feature on such small profits is to run no risk, and 
 the danger lies in accepting while the property or goods 
 are in transitu, or on the promise of their coming to hand. 
 Better not do the business than break over a rule ; if 
 you do, you will lose money by it, if not in the transac- 
 tion itself, by the loss of your credit as a man of business 
 having a rule "of business action, and violating it yourself. 
 
 Nothing pays a merchant so well in this line of busi- 
 ness, as the well known fact that he takes no risk, and 
 
 9* 
 
?o8 How to make Money. 
 
 therefore what property is sent to him is safe. If you 
 guarantee, in order to get property, you must have a 
 large capital to back your credit ; if you do not, little or 
 no capital is required, and you can substitute therefor 
 personal qualities ; and if they are substituted, a man 
 must know that they are as good as money. This is 
 credit, and without that is founded on capital, the perso- 
 nal qualifications must be of the highest order and more 
 dependable even than money. 
 
 And finally, every quality that should belong to every 
 business man, he should possess in an eminent degree, 
 for if he is successful in obtaining property to manage 
 and sell, it will be in large amounts, and from owners 
 who will, if they are business men, scrutinize every point, 
 to be sure that their property is in capable and reliable 
 hands. Once a character is established and your rules 
 of action known, there will be no trouble A good living, 
 an independence, and a fortune, await you in time. 
 
How to make Money. 209 
 
 CHAPTER XVI. 
 
 INTELLECTUAL LABOR. LAWYERS. 
 
 Large class. A type. All profit, no risk. Minds below mediocrity. 
 Foist services. Preliminary education. Copperless youth. 
 Business, Independence, fortune, fame, follow success. Hidden 
 values. Stir about. It will come. Golden opportunity. 
 Friend, or business enemy. Plant an anchor. Supposition of 
 gain or loss. Office behavior. Lawyer polite. Office for busi- 
 ness. Parlor for pleasure. Made money by impressions. Re- 
 verse. Cigars, smoke, spittle, and high heels. Intended client 
 quits. Another instance. Too much to do. Do nothing well. 
 Clients meet A little Lawyer. Made him rich. Mammon 
 offended. Desire to be thought great. Great man itch. Law- 
 yer failed to make money. General reputation injured. En- 
 gagements. Time lost, no restitution. Trespass and money. 
 Reason. So common. High charges. Effect. Just charge. 
 Ideas of clients. Important suggestions. Mind that regu- 
 lates, assumes. Human nature displayed. Money lost. 
 Clouds of sunshine. Everybody obliges. When arguments 
 fail. Haggard countenance. Iron look. Gimlet eyes. Dis- 
 prove existence. Compared. Elements of success. 
 
 This division of labor comprehends a large class of the 
 money-making community, and like all other labor has 
 its value, which is greater or less just in proportion to 
 the knowledge and skill displayed in it. It is not in- 
 tended to speak of all the divisions of this kind of labor, 
 but to give one or two examples which may be taken as 
 types of the whole. Nor is the lawyer cited because of 
 any special individuality, but as a large and important 
 division which will cover as many points as any other. 
 As a general rile intellectual 1 ibor presents as many op- 
 
2 to How to make Money. 
 
 portunities to the money-maker as any other branch of 
 industry, and probably more than any other to make an 
 independence. For what they gain they have, and can- 
 not lose their capital. They are in the position of getting 
 all the profits, and none of the risks of loss of what they 
 put into their business referring simply to the intellec- 
 tual. It cannot from its nature take the wide range of 
 manual labor, because its success requires mental ability, 
 which all do not possess. It frequently happens, how- 
 ever, that minds absolutely below mediocrity succeed in 
 making professions profitable, by possessing personal 
 qualities by which they can foist off* their services at 
 some price. This being so, money sometimes flows into 
 them quite as fast as to the abler minds, which trust 
 alone to their value for a market. 
 
 The profession of the law may be considered under all 
 circumstances a safe and certain way to make money. 
 It requires generally some capital to pay for the prelimi- 
 nary education, and to live upon while business is being 
 made, though there are many cases of high success which 
 have grown out of the copperless youth, and when they 
 do come up in that way, they come up strong and vigo- 
 rous. Numberless cases could be named where the raw 
 boy entered the lawyer's office to run errands and sweep 
 out, for just enough to keep soul and body together ; and 
 by sleeping where he could, with now and then a nice bit 
 to do away with the monotony of crackers and water, he 
 steadily pushed on, reading when he could, till, finally, a 
 legal education was acquired, and he admitted to practice. 
 Then in came business an independence a fortune 
 fame and high position. 
 
 A wise man will not only argue analogically, but if he 
 sees a fact, and the mode by which it is attained is simple, 
 
How to make Money. 2 1 1 
 
 he will not try another. So it should be with the law 
 apprentice and with the practical lawyer. If he sees one 
 man in his profession making money, watch him and see 
 what he does, if you wish to do what you are not doing. 
 There are, to be sure, various roads leading to the same 
 place, but if you do not know the way yourself, is it not 
 wise to follow the teamster that has driven the way, and 
 who is just in front of you on the road ? Then do as the 
 successful man does, and your chances are as good as 
 his, all other things being equal. 
 
 If a lawyer had the concentrated ability and knowledge 
 of ten eminent, successful ones, his capital would lie as 
 dormant and worthless as gold and silver in the earth, 
 without use. Till he gets a start, he must stir himself 
 about among men of business, if he has not already done 
 so while a student ; become acquainted with people ; make 
 personal friends, and personal interest ; for although you 
 do not get your dollar every time you do this, and for 
 every hour you spend in profitable and agreeable, conver- 
 sation with a friend, or even a stranger, there is a dollar 
 in it, and if you have done your part and made the favor- 
 able impression, you may get it shortly. // will come. 
 
 As in the case of the mechanic your first case is your 
 golden opportunity. You must look well to what you say, 
 what you do, and what impression you make upon your 
 client, to make the most money by your opportunity ; whe- 
 ther you will make him a permanent client, and one who 
 will sing your praises wherever he goes, or become a busi- 
 ness enemy. The manner, the interest, the promptness 
 with which you attend to his case, and the interest you mani- 
 fest in his interest, will decide a great point in the money 
 history of your life. Remember that in every step of your 
 profession, and in every move you make, there lies yourdol- 
 
212 How to make Money. 
 
 lar if you choose to get it. If you fail to plant an anchor 
 of interest in your first client, you lose largely, for you have 
 to make a new start. The difference in the final result to 
 you is the same difference that there would be to you in 
 dollars, whether you placed the amount you received of 
 him at compound interest, or whether you did the same, 
 adding each year the same amount to it. 
 Suppose that you received for your first case $200, 
 and you displease the client, this compounded at inter- 
 est, 7 per cent, for twenty years, would amount to $774. 
 If you pleased him, and added through his business and 
 what he would recommend to you each year, $200, and 
 improved it in like manner, you would have $8,468, a 
 difference of $7,694 on your scale of fortune, for pleasing 
 or displeasing your first client. This would seem to be 
 worth a little care on your part, and worth working for. 
 Such apparently little and unimportant matters are worth 
 considering by the lawyer who is striving to make the 
 most money by his profession. 
 
 Generally, then, if a client or a man on business enters 
 your office, speak pleasantly to him. If you are writing, 
 or busy, rest for an instant, till you ascertain whether he 
 has called to ask you a simple question, 01 wishes to see 
 you on business for a length of time. He will either 
 proceed with his inquiry, or speak of .some other discon- 
 nected subject, or tell you he wishes to speak to you 
 on matters of business. If he merely asks a question, 
 and his manner indicates haste, answer him at once and 
 let him depart. If he speaks on general matters, and 
 has not called on business, ask him pleasantly to sit 
 down in either case, for you cannot tell what may come 
 out of his call and your politeness. 
 
 When the ceremony has been gone through with, if 
 
How to make Money. 213 
 
 really engaged, you can say "My friend, or my dear 
 sir, you must excuse me for a few moments ; call at my 
 house at 8 o'clock any evening when I am at home, and 
 we will talk over the little pleasant matter you speak of." 
 Or if he is on business : " Please excuse me just now, as 
 I am very busy ; call again at 2 o'clock, I shall be disen- 
 gaged, and will see you." You have made money in 
 three ways, by these civil and gentlemanly answers. 
 
 First. You have improved your general character in 
 the community a point essential to your success. 
 
 Second. You have shown to your client that you are 
 a gentleman and systematic in your business, and he 
 will have confidence in you, and will personally respect 
 you ; and if nothing happens will give you other business 
 if he has it, or will recommend you. 
 
 Third. You have shown to your friend that business 
 hours and the office are not intended for social inter- 
 course that your house and your parlor are. He respects 
 you more highly, and will think you a business man, will 
 recommend you as such, and give you his business if he 
 has any. 
 
 The reverse, however, of this, is too frequently the 
 case. On entering such an office, you may see a young 
 man with a book in one hand, a cigar in the other, his 
 chair on its two hind legs, his feet on the mantel, about 
 level with his shoulders or above, a pool of tobacco spittle 
 on the floor, the besprinkled evidences of previous hy- 
 draulics of like stamp, and an atmosphere of cigar smoke. 
 
 The caller was a business man, who had heard through 
 a friend that such a young man highly promising had 
 begun business just where he found this individual. A 
 call was enough ; he made some casual inquiry and he 
 regained the street as soon as possible, lest he might meet 
 
214 How to make Money. 
 
 the very friend who had sent him there. That cigar was 
 the cause of his failing to make the costs in the suit 
 about two hundred and thirty dollars and the failure to 
 get a good client. 
 
 Another instance of a young lawyer who had a pro- 
 pensity of trying to impress everybody with the idea 
 that he had so much to do he could not find time to do 
 anything. He made a great fuss about business when 
 any one of his clients came to his office, starting the 
 clerks off in every direction at the same moment, and 
 making a great fuss generally. It so happened one day, 
 that one of his clients was on his way to the lawyer's 
 office, where he had already been several times to get a 
 moment's conversation with him on the subject of a case 
 about to be argued. Every time the client went he was 
 compelled to go some four miles, there and back, and 
 each time the lawyer made the excuse that he had not a 
 moment to spare and could not say a word to him on 
 the subject. It also happened, too, that new faces came 
 in during the client's stay, and did talk with the lawyer 
 as long a time as the client wished to talk to him. 
 
 But as he was on his way thither as above stated, with 
 great anxiety about a point in the case which he sup- 
 posed the lawyer might have overlooked, he was joined 
 by a large dry-goods dealer, who commenced relating an 
 incident which had just happened to him. It was evi- 
 dent the man was somewhat excited, and he began thus : 
 "A little puppet of a lawyer," said he, "whom I have 
 made rich by the business I have given him, has worried 
 my life out of me by making me call at his place time 
 and again, about a matter that would not take him two 
 minutes to do. Several times I have called and he has 
 quietly kept his seat, as though I was some errand-boy, 
 
How to make Money. 215 
 
 and said, ' I will see you about that matter to-morrow, 
 I am engaged just now won't you call again ?" I have 
 just called for the last time, and can you tell me of a 
 good honest gentlemanly man one who is a gentleman 
 and knows how to treat people, and especially an old 
 man like myself ? " 
 
 The man said in reply : " I know of several lawyers 
 who have such a desire to be thought great men, that 
 they assume an immense amount of importance at times, 
 and it is more particularly the case with the young and 
 those who have not in truth much bottom to go upon. 
 My lawyer is a middle-aged man, a good honest fellow, 
 and rather smart ; but he has of late caught the great man 
 itch, and he treats me now just about as you complain of 
 being treated, though my time is not as valuable as yours, 
 and I don't mind it as much." 
 
 Some other conversation ensued, and the parties sepa- 
 rated one to go where the client had an important 
 case, and, therefore, was compelled to submit in a measure 
 to bad treatment ; the other, to procure one to whom he 
 might transfer his business. Both these lawyers failed 
 to make money, not because they were not well read, 
 nor that they were incapable, nor because they had failed 
 to do what they did do well ; but they lost money, or 
 failed # to make it, because of a little foolish mannerism. 
 Neither meant to be rude or unobliging or disagreeable. 
 They might have each supposed they were too much 
 engaged to attend to their clients, and it was just as easy 
 for them to come again. They both lost time, too, for 
 neither of their clients would have detained them in the 
 aggregate as long as they were talking in excusing them- 
 selves. 
 
 The lawyer of the dry-goods merchant lost money, or 
 
216 How to make Money. 
 
 failed to make more out of his client, amounting at least to 
 seven hundred and fifty dollars. He lost the client of 
 the other lawyer just named by reason of a want of 
 favorable recommendation of the dry-goods merchant, for 
 that individual had determined to leave as soon as his 
 case was through. The business of this last man amounted 
 in ten years to about one thousand dollars. 
 
 Both injured their general reputations, and some indi- 
 viduals were deterred from patronizing them as soon as 
 they heard the opinions expressed and their peculiari- 
 ties commented upon. It would have been quite as 
 cheap and more gentlemanly if they had dispatched the 
 business at once with each of their clients. There are 
 but few instances of such extremes in the legal profes- 
 sion ; but few or many, they should be referred to in a 
 work of this nature to indicate whereby money is not 
 made, and also wherein money is lost. There is an 
 equity in all matters of life. If you make an engage- 
 ment with a person to have a paper drawn up ready at a 
 given time, and the party to whom it has been promised ap- 
 pears and it is not ready though you, as a lawyer, charge 
 for your time in drawing the paper you do not feel like 
 paying the man for his loss of time, when he is com- 
 pelled to come again, and very likely lose double or 
 three times as much time as you have consumed in 
 drawing the document. 
 
 This very important principle applies to every depart- 
 ment of life, and is a trespass and wrong done to an in- 
 dividual's time, which, in justice, should be discharged 
 by an equivalent. A mechanic, in like manner, agrees 
 to finish an article for you, and compels you to call once 
 or twice for it at the great sacrifice of time and incon- 
 venience ; but when you come to pay for the article lie 
 
How to make Moitey. 217 
 
 would be annoyed that you should charge for your lost 
 time. The reason of this is that custom has allowed 
 these people to commit this wrong so long without hold- 
 ing them responsible that they claim the wrong now as 
 their vested right. They, however, lose money by it, 
 whether they know it or not. But this does not excuse 
 a man of intelligence acting under such universal 
 wrong. 
 
 There are other means of attracting business and 
 keeping it peculiar to the legal profession. High charges, 
 although they bring immediate money to the pocket, are 
 not the most profitable in the end. If a client thinks he 
 is overtaxed, he may not, from motives of delicacy, say 
 anything about it ; but the thing hangs on his feelings, 
 and if he has occasion for a lawyer a second time he 
 hesitates, looks about, and is in many instances guided 
 by his feelings, and not by his judgment. A just charge 
 is the best, for it makes money the fastest. 
 
 A good lawyer will never undervalue the ideas of his 
 client, especially if he be a man of some intelligence. 
 In truth, the client has but the one case to think of, 
 while the lawyer has many, and the chances are very 
 good that the client himself may suggest very important 
 points in the case. A wise man will hear all that is 
 said, cull the good and reject the chaff. To be popular 
 with clients and to be on the best of terms with them is 
 money made. You thereby form yourself into a pleasant 
 tone of feeling which makes you frank, free, open, and 
 apparently honest, before judges, juries, and clients. It 
 is human nature, however, for the mind that apparently 
 regulates to assume superiority. The wholesaler has a 
 natural repugnance to be on social terms with the re- 
 tailer to whom he sells goods. The importer lords it 
 
218 How to make Money. 
 
 over the wholesaler even to whom he sells The bankei 
 looks askance at his customer. 
 
 The feeling is natural, and no one is to blame for en- 
 tertaining it ; but it is not a money-making operation to 
 display it in any of the businesses just named. Nor is 
 it policy or advantageous to merge it in the relations of 
 lawyer and client. No lawyer can estimate the value of 
 an open, frank, honest face, the exponent of clouds of 
 sunshine in the heart. He has an advantage before the 
 community little dreamed of. Business is easier carried 
 on, persons will oblige him, clients will oblige him, the 
 court feels more willing to oblige him, will give weight to 
 his sayings and sympathize with his pleasant talk un- 
 intentionally. Juries are prejudiced in his favor, and his 
 honest manner and kind words win when arguments 
 would fail. 
 
 But in a long course of legal practice now and then we 
 see grey-haired, haggard countenances, the controlling 
 elements of which are shrewdness and cunning. No 
 pleasant, pleasurable emotions seem to float on their 
 hearts. They have a fixed iron look, with eyes like 
 gimlets to bore you through at a glance. When they 
 come before a jury their very looks put the jury on their 
 guard lest talent and ability should disprove existence 
 or transform them to idiots. Such a character, even with 
 the advantages of great legal acquirement, fails in money- 
 making before the well-balanced and good-natured man 
 of equal attainments. 
 
 Pleasant manners, a neat office, close attention, good 
 legal acquirements, small expenses and perseverance, will 
 insure to any member of the bar the means of making 
 money. The amount made will depend entirely upon 
 the care and attention given to it. 
 
How to make Money. 219 
 
 CHAPTER XVII. 
 
 INTELLECTUAL LABOR. PHYSICIANS. 
 
 Profession eminently useful. Various branches. Different qualities 
 Range of demand. Money matters. Melancholy examples 
 Professionals and misers compared. Duties. Elements of 
 success. Opposites compared. Directly or indirectly. Ex- 
 ample. Dress and manners. Lad sent for doctor. Reception. 
 Sharp lecture. Lad's answer. Time rolled on. Doctor 
 lost money. Trifle important. Can look back. Married life. 
 Another independence. Means will come. Life insurance. 
 The two cases cited. No more examples necessary. Specific 
 charges. General rule. Cardinal principle. Extensive suc- 
 
 This is another branch of intellectual labor. In this, 
 as in all other classes, there are degrees of usefulness and 
 of necessity, skill and education, while the profession is 
 eminently intellectual, useful, and necessary, in its higher 
 development, to the comforts of man. It affords the 
 means, at the same time, of making an independence or 
 of increasing it to a fortune. The main profession is 
 subdivided into various branches, some more and some 
 less intellectual ; some more and some less mechanical ; 
 though all profess the controlling element in execution 
 which binds them to this division of labor. The object 
 here is not to show what constitutes a good or an indif- 
 ferent practitioner, what is skill, or what is the reverse, in 
 the profession. Each individual is taken as he is, and 
 then shown how he can make the most with the know- 
 
220 How to make Money. 
 
 ledge that he possesses, presupposing that the more 
 knowledge and the more skill he displays, the wider will 
 be the range of his demand, and the greater the pecuniary 
 profits resulting. 
 
 It is often remarked that professional men pay but 
 little attention to their money matters, and that they are 
 generally poor because they think money is of little con- 
 sequence. There are a few such melancholy examples 
 of humanity. Their real wants are few, and easily satis- 
 fied. So long as they have clothing to wear, food to eat, 
 and books to read, their money wants are just equal to 
 their expenditures. They will not undertake the care of 
 money to the exclusion of their natural tastes. They 
 see no pleasure in a heap of gold, which requires sleep- 
 less nights and watching days to guard, when that will 
 give no more than they possess. The pleasure of ac- 
 quiring knowledge, with them, is like the pleasure of 
 acquisition with the miser. The miser would take no 
 heed of the professional man's occupation ; it would be 
 irksome to him, while the professional man would be 
 disgusted with the miser's joy. 
 
 Notwithstanding such views, every professional man 
 has his moral and political duty to perform, and he 
 should do it. He should strive for his independence, and 
 for the independence of those dependent upon him, as 
 his first great duty, and then to his tastes afterwards. 
 There are several ways in which this can be accom- 
 plished, which will be referred to hereafter. The public, 
 however, has no demand that he labor beyond this point, 
 while it has, till he shall obtain that end. 
 
 The first great elements of success in this profession are 
 knowledge and skill ; and next to these is pleasant, win- 
 ning, mild, and gentle demeanor. No one can estimate 
 
How to make Money. 221 
 
 such manners, for as much as they will make in money 
 for the possessor, and especially in a physician who has 
 to deal with human nature in its most nervous and exci- 
 table state. The very presence of such an angel of 
 mercy at such a time, seems to soothe and allay disease 
 without medicine. The effect on some is truly marvel- 
 lous ; and if it has no other result on others, it makes his 
 presence in the chamber of the sick a ray of sunshine 
 that revives and vivifies the drooping system. The oppo- 
 site quality, on the contrary, chafes and excites, producing 
 a repulsiveness which operates unfavorably upon his 
 finances and future employment. Cases could be cited 
 where such qualities, combined with ordinary skill, pro- 
 duced more money than the opposite supported by the 
 highest talent, with greatly superior knowledge and skill. 
 But the proposition is almost self-evident, and needs no 
 further illustration than the mere mention of the fact. 
 
 Civil treatment to all, however, is absolutely necessary 
 for the physician to be able to procure the most for his 
 talents and skill. He may carry the opposite to such an 
 extreme as to almost entirely neutralize all his ability, 
 and only be able to procure business in very extreme 
 cases. It requires no argument to show that he loses 
 money by such a course, and that he would make it by 
 a different one. In truth, any element of intercourse 
 with men and society that has been referred to in this 
 book, heretofore, applies directly or indirectly to the 
 physician. We will cite an instance of uncivil treatment, 
 and its consequences. 
 
 A certain physician, and, by-the-by, a very eminent one, 
 being in a small place in the State of New York, had his 
 office and his sleeping apartment in the same building, 
 and connected on the same floor. The front room was 
 
222 How to make Money. 
 
 used as his office and consulting room, and the rear one as 
 his sleeping apartment. He was a pompous, conceited 
 man, wore a white vest, and white cravat, and dressed 
 otherwise in keeping. A lad of about twelve years old, 
 brought up on a farm, arrived in the place accompanied 
 by his father and mother, on a visit to his brother who 
 lived there. It so happened that the father fell sick, and 
 as this physician was the family physician of the brother, 
 of course he must be sent for to attend the father. 
 There happened to be no one immediately about to send. 
 The lad of twelve, who had just arrived, was determined 
 on to do the errand ; so after a full explanation of where 
 the doctor could be found, and of his room and its location, 
 the boy started off. From his knowledge of such things 
 in the country where he came from, to go for the doctor 
 was to go to an apothecary's shop, and not to the private 
 rooms of an aristocratic doctor in white cravat and vest. 
 Being rather an energetic lad, he soon found the place, 
 and waiting for no ceremony while his father wanted the 
 doctor's services, bolted right into the presence of the 
 august doctor without knocking. The doctor looked up 
 amazed at the boy, and the boy, having but one object, 
 was about to ask the doctor if he was the man he wanted, 
 when the doctor rose and in a very imperative way spoke 
 to the boy: "How dared you enter my office without 
 knocking ? " The boy replied, " Is n't this the doctor's 
 shop ? " " Who are you ? " sharply asked the doctor. 
 "Well, my brother lives over here, and my father is 
 sick." An explanation took place, and the doctor having 
 discovered who the boy was and his business, read him 
 a sharp lecture on manners, to which the boy replied : 
 " They don't knock at doctor's shops where I came from." 
 Though the boy was a rough, country lad, he knew that 
 
How to make Money. 223 
 
 he had done no harm intentionally, and rememberec 1 
 long afterwards what he thought was the eccentricity 
 of a crabbed doctor. 
 
 Time rolled on, and the boy grew to be a man of in- 
 fluence and wealth, finally, in the very same place, 
 which had in the meantime grown immensely. The 
 insulted boy never forgot it in his manhood, nor did the 
 doctor, who still practised, ever get a cent from him or 
 from any one that he could influence, for the doctor had 
 by this little unnecessary incivility made an enemy for 
 life. So that it is plain to see that the doctor lost more 
 in the end than he made by the visit to the sick fathei 
 that resulted. More money is lost to individuals by just 
 such little trifles, than is lost by credits or bad debts. 
 The professional man who sometimes badly feels the 
 want of money, may look back and see when he could 
 have made instead of lost through this means. 
 
 It is the general belief that a physician will make more 
 money in his profession married than single. We are of 
 the same opinion. But a serious question arises in such 
 an arrangement. " I have," says he, " but one to support 
 now ; I shall have two, then." If you make more money 
 you will have more means to pay the additional expense. 
 All experience proves that the married couple get on 
 better than the single bachelor, for somehow or another 
 the means come along, though it may look a little doubt- 
 ful to look forward to it. Much, however, depends upon 
 the choice of the wife ; but if she has the right views and 
 right intentions there will be no trouble ; the living will 
 come with industry and perseverance. The only trou- 
 ble will be in the scale of expenditure and style of life 
 adopted. 
 
 There is, too, another independence to look out for in 
 
224 How to make Money. 
 
 case of accident A small item a year, which can be 
 economized, will secure a life assurance, say to fall in at 
 the end of ten years, by which you can make money and 
 have it at that time if you live, and if you do not, your 
 family is provided for. This will be fully discussed here- 
 after. The two cases of intellectual labor cited here, the 
 lawyer and physician, are all that the space will allow. 
 What has been said under the first head in almost every 
 particular applies equally to the second. It would there- 
 fore be useless to repeat them here. Nor would it be 
 instructive to give more examples of the same kind of 
 labor ; that is, intellectual labor, which receives its reward 
 in specific charges made for' specific services. There is 
 the same general principle in such charges as there is in 
 merchandizing. Excessive profits drive customers from 
 them, and excessive charges will in like manner drive 
 customers from it. To charge reasonably, but justly, is 
 a great element in making the most money by the op- 
 portunity. This cardinal principle should never be lost 
 sight of by those who seek extensive success, not only in 
 this department of labor, but in every other. 
 
How to make Mo7iey. 225 
 
 CHAPTER XVIII. 
 
 INTELLECTUAL LABOR. PROFESSIONAL SALARIED PER- 
 SONS. 
 
 Learned of the land. Noble objects. Idiosyncrasies. Day of ad- 
 versity. Sphere of aclion. How can I ? Trifle bagatelle. 
 Results compared. Scale of equalities. Can and do. No credits 
 needed. Nothing to detract. Friends and influence. Limits of 
 expenditure. Style of life. Profits always due. Most from 
 services. Personal qualities. Spending part. Ten per cent, not 
 your own. Fifteen per cent, reserve. Contingencies. Bad luck. 
 Helter-skelter. Independence and courage. First-rate busi- 
 ness. Results. Life insured. Increase style of life. Formula. 
 Life becomes a fixity. Wants relation. One quarter less. No 
 difference. All beautiful. How can I do it ? Answer. Spend 
 your profit. Fail sure. Simple plain story. Stand like a man. 
 Take your choice. 
 
 These form a large class of the most intelligent and 
 learned of our land. For what they contribute in various 
 ways they are the least rewarded for their positive use- 
 fullness in mere money. This, however, is not all they 
 strive for ; it is a means, generally, of maintaining a live- 
 lihood for higher and nobler objects. As a general thing, 
 they are too indifferent about money, or what it will 
 bring, further than to accomplish their peculiar ends. 
 From enumeration of cases where devotion to learning 
 absorbs all thought to the exclusion of such matters, criti- 
 cism will hold in saying or expressing a regret of such 
 idiosyncrasies. Whatever such a one may care of, or 
 
226 How to make Money. 
 
 \ 
 
 for himself, he has a special duty to perform as a citizen 
 which nothing should be allowed to crowd out of its 
 legitimate place. Health, vigor, and intellect may not 
 always be left to produce what life and necessities de- 
 mand. Knowing, then, this fact, no one' can insure him- 
 self by simply providing for the wants of the hour and 
 doing nothing for the day of adversity or the uncertain 
 future. The life and health may be spared, opportuni- 
 ties and employments are not always open to him who 
 will take. 
 
 There would seem to be no class whose duty is appar- 
 ently so imperative as this, to provide an independence 
 for themselves and those dependent upon them, for there 
 is none so helpless^ out of their particular sphere of action. 
 They know, of necessity, but little about the business of 
 life, from the fact that the whole course of it is exclusion 
 from the world, except so far as their specialties bring 
 them in contact with a small portion of it. If accident of 
 employment, or of health arises, they are at once at a loss, 
 not being competent to turn their hand to collateral em- 
 ployments, as others generally can do who are educated 
 to other businesses. This duty, then, of providing an 
 independence, would seem to extend further than a mere 
 moral and political one, with this class. 
 
 The direct question is then put by the professional 
 salaried person : " How can I make money ? " The 
 reason why this question is so often propounded is, that 
 the salary seems but a mere trifle, a bagatelle, alongside 
 of the talked-of incomes of the immensely wealthy, the 
 merchant, manufacturer, or the high-grade mechanic. 
 The only way one class can measure itself with another 
 on the successful money scale, is to compare results. 
 For, as is well known, it is easy to talk or boast, and be- 
 
How to make Money. 227 
 
 lieve at the same time what you are saying ; but in 
 money matters belief don't make dollars or fortunes. 
 Results are the only sure criterion of the positive profit- 
 ableness of a calling or profession, and here is where the 
 professional man must look to see whether in the great 
 scale of equalities in this respect, he has a chance ; 
 whether the money results of his calling fall below or 
 rise above the average of other businesses. 
 
 There can be no dispute as to one point, and that is 
 that the salaried person, if he obtain fair remuneration, 
 can accomplish more in that way than the average of 
 merchants do. To satisfy himself on that head, he has 
 but to look at the statistics of mercantile life given in 
 the chapter on " How to make Money," and he will at 
 once see that at least such results can be avoided. Nor 
 is it believed that any other of the main branches of 
 trade that make or undertake to make by giving 
 credits, have risen much higher in the scale of final 
 money-making than the mercantile. In the class under 
 consideration, however, no credits need be given to obtain 
 what is received, and hence it more nearly approaches 
 the certainty of the retailer to a success. 
 
 In this class, as in every other department of labor, their 
 services are valuable and will command a high price, just 
 in proportion to the knowledge and skill possessed, pro- 
 vided no other qualities detract from preventing the indi- 
 vidual obtaining it. In order, however, to obtain it, even 
 under such circumstances, as a general rule it requires 
 standing, influence, and personal friends to secure posi- 
 tions, and sometimes to retain them after they have been 
 obtained. But this depends more upon the individual him- 
 self than upon others, as a general thing. Permanency, 
 industry, and close attention to business, will insure the 
 
228 How to make Money. 
 
 greatest amount of income, and the largest results in the 
 end. 
 
 Professional men are measurably confined within cer- 
 tain limits as to their expenditures, even though they 
 decide upon a course of retrenchment as a sinking fund. 
 Their positions and professions require a certain style of 
 life consistent with their calling ; and sometimes this un- 
 fortunately absorbs, or nearly absorbs, their entire income. 
 But there are certain principles which regulate salaries, 
 as there are which regulate the price of manual labor, or 
 any other kind of business. In a particular instance the 
 price may be too low, and if so, it must be raised, so that 
 an average corresponding with others will be obtained. 
 No one will work for simply enough to pay for neces- 
 saries ; there must be a margin for profit, or the business 
 would run out. No one would be found to do less. 
 
 So that the professions are of sufficient consequence, 
 and the results flowing are of sufficient value to pay not 
 only for the necessaries of those who conduct them, but 
 a profit beyond ; and in this fact lies the security that such 
 services will be properly rewarded. There can be no 
 general rule laid down as to what this profit should be, or 
 what it is. But one thing is certainly known, that there 
 is scarcely a salary paid for valuable services that will not 
 support the laborer and leave a handsome profit over. So 
 far as that matter goes, however, the object in hand is to 
 show how the most can be got by given services ; in other 
 words, how to get the most over necessaries, and then 
 what to do with it. 
 
 As has been said before, the most knowledge and skill 
 will entitle the salaried person to the most money, 
 abstractly, for his services. But there might be such a 
 thing as the most undeserving receiving more than the 
 
How to make Money. 229 
 
 most deserving. But these are exceptions, and in the end 
 will regulate themselves. The rule will hold good in the 
 long run, if the individual has no personal quality to 
 stultify his merits. And here many of the general prin- 
 ciples hold good that are laid down for the clerk, and 
 need not be repeated. It may then be assumed that 
 the professional salaried person is in the due receipt of 
 his income, and what can be said to aid him in making 
 money ? 
 
 You can make a profit by not spending all that you 
 receive. In other words, make up your mind, on a care- 
 ful consideration of all things, how much you can live on, 
 and then do it. Never be too grasping, and put your pro- 
 fits too high ; if you do, you will share the same fate of 
 the merchant fail in your undertaking. But a safe rule, 
 from our knowledge of salaries, would be a saving, or 
 rather not using, twenty-five per cent, of receipts ; but 
 if this be too high, twenty, fifteen, or ten. You would 
 probably make most, and carry out what designs you do 
 make, by calling it ten per cent., and laying aside the 
 fifteen as a reserve to help out of any accident. Thus, 
 if your salary was $4,000, you say to yourself, " My style 
 of life and expenses shall be $3,000 ; four hundred dol- 
 lars is not mine, because I have constituted myself a 
 trustee for myself and family, and this is to be invested 
 anyhow, for their benefit. This I have no right to touch, 
 to spend. I have $600 fifteen per cent. that I can 
 improve at interest, if nothing happens, in the same way, 
 but some unforseen accident may occur that my expenses 
 may exceed $3,000. I will hold this as a reserve for such 
 contingency." 
 
 Now # this is a safe platform for a salaried person, and 
 nothing but extraordinary bad luck can make him fail in 
 
230 How to make Money. 
 
 his undertaking. With the $400 you can take a ten-year 
 endowment policy, which will insure your life in the mean- 
 time. This will be explained under Life Insurance. The 
 $600 should be deposited in a savings bank, at interest, 
 where it will be under control at any moment for use. Buy 
 nothing beyond what you have cash in hand to do, and all 
 will go well and prosperity will be your lot, with many com- 
 forts never dreamed of in a helter-skelter way of doing 
 things where you have never known how or where you 
 stand. 
 
 If you can have the independence and courage to live 
 up to this, and spend $3,000 when you have an income 
 of $4,000, you will be doing a much better money-mak- 
 ing business than the average of wholesale commercial 
 houses, and without comparison a first-rate business. 
 Just look at the result and you will see. Your endow- 
 ment policy, besides insuring your life in the meantime, 
 will accumulate at 6 per cent., and your $600 at the same, 
 that is, $1,000 a year, at 6 per cent, which in ten years 
 will give you $13,246.42 ; in twenty years $37,643 ; in 
 thirty years $80,403 ; in forty years $160,486. This re- 
 sult can be obtained besides keeping your life insured for 
 the whole time, and in case of death your family gets 
 the amount of the policy. As you gain knowledge and 
 skill in your profession you will, in all probability, be en- 
 abled to obtain. an increase of salary, which increase can 
 be used towards current expenses, and thereby increase 
 your style of life, if ypu have no other calls for increase 
 of current expenses. 
 
 This formula will answer for any conceivable amount 
 of salary. The life-policy will not be the same ; it may 
 be smaller or greater in proportion to the receipts. By 
 such a platform for life, you are not constantly endeavor- 
 
How to make Money. 231 
 
 ing and always failing to decrease your expenditures, for 
 such efforts make you unsettled and unhappy without 
 attaining the object for which you strive. But when you 
 have a fixed sum to spend there is the end of the whole 
 matter, and you at once become satisfied and contented 
 with what you do spend, and with the result. Make the 
 want the ability to supply it, and life and living become 
 a fixity. 
 
 You will accomplish nothing more if you spend all in 
 pandering to wants, for they are relative ideas ; and by 
 supplying all, you will in the end be no better satisfied, 
 or accomplish more, than by supplying three-quarters of 
 them, and denying yourself the other quarter. For if 
 you had no fixed principle of living, the probabilities 
 are you might spend all your income, and satisfy one 
 want in a hundred. The salaried person may say to him- 
 self: "This is all beautiful in theory, and it is very well ; 
 and I can see plainly that it is my duty to provide against 
 accident or a rainy day, but I try my best now, and can 
 hardly make both ends meet ; how can I do this thing 
 and make it work practically ? " 
 
 The answer is just here ; that you receive a certain 
 amount of salary, which by usage, and from the demand 
 of your special kind of labor, is sufficient to pay your 
 expenses in a style of life commensurate with your occu- 
 pation, and twenty-five per cent, of profit. If you spend 
 all your profit, you are doing just what the unsuccessful 
 merchant is doing, and ,your condition will be the same as 
 his when your employment ceases, and you and your 
 family, if you cannot get something to do, will be 
 thrown upon public or private charity. This is the 
 simple, plain story, plainly told. Then, as an intelligent 
 man, will you do what you can to avert this end, 01 
 
 10* 
 
232 How to make Money. 
 
 will you do what your intelligence teaches you you 
 should do, and be independent of both, and stand like 
 a man before your friends and the community. Take 
 your choice ; the responsibility lies with you, and the 
 information, too. 
 
SPECIAL REMARKS. 
 
 The reader must not conclude that the trades or occu- 
 pations not herein named are neglected or forgotten. 
 Space will not admit that each one should be specifically 
 referred to. Those which have been treated must be 
 considered as types, and have been selected on account 
 of their importance, and the large class of individuals 
 they contain. Nor must each suppose that what is said 
 under each head contain all the principles applicable to it. 
 The contrary is the fact. There is no principle in the 
 one that does not apply generally to each ; and further 
 than that, those principles apply to every known occupation 
 not specifically named herei7i. It will therefore be seen 
 that to name every occupation, and recite the principles of 
 money-making applicable to it, would be a series of repe- 
 tition, cumberous in their extent, and wearisome to the 
 reader. Nor is it supposed that every principle governing 
 this important subject is displayed here, but enough has 
 been, and will be said, to illustrate the most important. 
 Whether the ideas set forth will be advantageous or not, 
 will rest entirely with each individual. The main idea 
 intended to be urged is the high moral and political duty 
 each one is under to secure for themselves, and those 
 dependent upon them, a monetary independence from 
 charity. 
 
234 How to make Money make Money, 
 
 CHAPTER XIX. 
 
 INVESTMENTS. 
 
 Distinct branch. To know how. Great idea. Whole against one. 
 Banks for savings. Life insurance. Bond and mortgage. 
 Swiftest. Why ? Lawyer and security. Bank stocks. Inves- 
 tigate. Paid a dividend. Subscription. Government bonds. 
 Railroad stocks and bonds. Good. Manufacturing stocks. 
 Some speculative. Fire insurance stocks. Good and bad. 
 Money stocks. Some pay. Class not good. Petroleum. Gas 
 stocks. Profitable. Monopolies. Life insurance stocks. 
 Mutual cash. Large dividends. Other stocks. Collaterals. 
 Movable property. Largest fortunes. Real estate. Richest 
 men. Location. Double increase. Vacant lots. Little trou- 
 ble or danger of loss. Changes. Skill in judgment. One of 
 the means. Appropriate building. Some gifted. Not worth a 
 snap. Indulging principle. How to approach an investment. 
 Money will command security. Can't get it afterwards. 
 
 The reader must understand, what is not generally- 
 supposed, that he now enters upon a distincl branch of 
 money-making. Though labor and money have necessa- 
 rily been combined, in many of the preceding chapters, 
 to make money ; yet the purely making money, with 
 money, is a distinct trade ; and the failure of many to 
 know this fact, has led to great losses. The man who 
 has made his dollar, and wishes to make it earn, or work, 
 has arrived at a point, where, to do it to advantage, he 
 must know how, or his dollar will very soon take its de- 
 parture into the pocket of some one who understands 
 the trade, and is keener and shrewder than himself. 
 
And how to Keep it. 235 
 
 No one can be safe in the possession of money, for 
 investment, who does not come up fully to appreciate this 
 idea. Toil, labor, saving, and self-denial, are often sacri- 
 ficed through this ignorance ; wealth and comfort are 
 swept away, and poverty and distress take their places ; 
 and such people wonder why their lot is so hard in the 
 world. But when they will reflect, for a moment, that 
 the whole world are after just what they have got ; and 
 every device that cunning and ingenuity can devise are 
 brought to bear to obtain it, is it strange that one cannot 
 resist the whole? There is no trade so intricate as the 
 investing of money safely ; but like the mechanic art, 
 when once learned, how easy, and how simple ! 
 
 No one, then, having money to invest, should under- 
 take to do so, without knowing the exacl value of the 
 thing taken in exchange for money. The most simple, 
 however, is the Savings Institution, where the depositor 
 has only to inquire the general standing of the bank, and 
 then make the deposit, and the money will draw an in- 
 terest, if at dates less than six months, of five per cent. ; 
 and if allowed to remain longer, six per cent, per annum. 
 Another mode, equally simple, is to take a ten-year en- 
 dowment policy, in the best mutual cash company, in 
 which you will be entitled to a share of the profits, which 
 will aid in payment of premiums. You will get your six 
 per cent, per annum, and have your life insured at the 
 same time. This is preferable to the savings bank, if 
 you have capital to go into it, and be sure of making your 
 payments. See chapter, Life Insurance. 
 
 These two modes are within the reach of the smaller 
 amounts of money. To those having larger sums, bond 
 and mortgage on real estate, at seven per cent, is the 
 very best means of investing money for those who are 
 
236 How to make Money make Money, 
 
 not skilled in financering ; and it is believed to be the 
 swiftest means ever yet put upon any money-making course. 
 The legal rate of interest in some States is higher, and 
 in some lower, than seven per cent. The legal rate of 
 interest in any, on bond and mortgage, is the surest way 
 to accumulate. The reason for this is apparent on reflec- 
 tion, and the result is secured by a principle that is all- 
 important in money-making. 
 
 If the amount loaned is properly apportioned to the 
 value of the property, the security is perfect; this, how-, 
 ever depends upon the lawyer engaged to supply the 
 deficiency of knowledge in the lender, to examine every 
 particular of the security offered, to see if any flaw 
 exists or intervenes. Now let every one who has money 
 to invest stop just here, and glean a lesson never to be 
 forgotten. If the lender intends to invest in any othet 
 security, take the same pains to get an opinion of its 
 value by one skilled in that knowledge. You can your- 
 self determine what would be the value of your security 
 if you are not a lawyer, and undertook to loan your 
 money on bond and mortgage, which is, taking the bor- 
 rower's note with the land as collateral security, if you 
 could not ascertain positively that you had the land as 
 security or no. 
 
 The next simplest and most secure investment is in 
 dividend-paying bank stocks. This again requires inves- 
 tigation, though how many there are who simply buy 
 such stocks without one step taken to investigate their 
 value, or making a single inquiry of any one skilled in 
 such knowledge ! The books of a bank are always open 
 for inspection, and he who has got into his brain the 
 value of money will look to see for himself, or engage 
 some one to do so as to the whole state of its affairs, before 
 
And how to Keep it. 237 
 
 putting his money into the stock of such an institution. 
 Especially should the character of the officers be looked 
 to, and their style of conducting the business be scruti- 
 nized closely. Do not presume, because they have an 
 imposing banking-house, and a large number of em- 
 ployes, that this is the base of security, and will furnish 
 sure dividends for your money. Investigate investigate, 
 and take advice. 
 
 Never invest in any stock till it has paid a dividend. 
 As well might you entrust your money in the hands of a 
 man calling himself a merchant, and setting up his sign 
 to trade, who has never in his life yet made a dollar. 
 He may, perchance, succeed, and so may the stock 
 divide, but the surest way is to let others take such 
 risks ; those that can afford to lose ; but those who have 
 limited means ought not to run such chances. Their 
 little is their all, and certainty and positive security 
 should hang around every dollar. 
 
 On the other hand, no one who thus invests, even the 
 capitalist, expects to lose ; and regular subscriptions to 
 bank stocks, as means of investment when the character 
 of the officers to manage them is well known, may not 
 be regarded as unsafe ; and, too, there is sometimes an 
 advantage in being among the first subscribers to such 
 stocks, for the subscriptions are at par, and when once 
 filled up, the stock cannot be got, except at an advance. 
 Such cases of investment are proper subjects for advice 
 of skilled financiers. 
 
 Government bonds and government securities, are 
 regarded by financiers as safe and good investments 
 without inquiry, though the rate of interest, till quite 
 lately, has been low in comparison with other equally 
 good securities. But they are more in demand by large 
 
238 How to make Money make Money, 
 
 than by small capitalists. Being as safe as any security, 
 they take rank as among the best of the land. State 
 bonds, of various issues, are sought after in like manner. 
 These securities, however, by the manipulations of poli- 
 tics, generally are below par, and some are quite low in 
 the market. 
 
 Dividend-paying railroad stocks and bonds are good 
 securities, and form a large class of profitable invest- 
 ments. They have a good prospective value, also, from 
 the fact: that business is constantly on the increase, 
 and greater experience in construction and in running 
 reduces yearly their expenditures. From necessity, too, 
 they are compelled to hold large amounts of real estate, 
 which increases in value. Such stock and bonds judici- 
 ously purchased, cannot fail to be productive of income, and 
 the basis is constantly growing more and more valuable. 
 
 Manufacturing stocks have been the source of large 
 fortunes, and also of heavy losses. There are, however, 
 certain manufacturing stocks which pay not only well, 
 but exorbitantly. From the nature of things, such large 
 profits engender competition, and, in the long-run, it is 
 doubtful whether they are more profitable than bond and 
 mortgage or bank stocks, which pay less dividends, but 
 are more sure. The general rule of business applies to 
 them, the more profit the greater risk of loss. In certain 
 sections of the country they are favorite investments, 
 and the inducement of heavy gains will always render 
 them active as investments to the more speculative class 
 of minds. Still there are manufacturing stocks, founded 
 on the making of staple articles, under careful and eco- 
 nomical management, which always pay a remunerative 
 dividend, with a certain amount of safety and security to 
 those investing. 
 
A?id how to Keep it. 239 
 
 Fire insurance stocks have been favorite investments. 
 When they do pay they pay largely, but as a class of 
 investments they have proved speculative, and under cer- 
 tain circumstances total loss has been the result. There 
 are periodical times when goods are falling and trade 
 dull, when those holding such securities would do well to 
 sell and reinvest, if they desire, when goods are on the 
 rise and trade brisk. Marine and inland insurance has 
 generally been good paying stocks, but for the past five 
 years severe losses have occurred. Though not so risky 
 as fire stocks, they neither pay as high dividends, nor are 
 they subject to such danger of total destruction. 
 
 Mining stocks form a very large class of securities, 
 such as they are. It is doubtful whether as a class they 
 have ever paid a profit. While fortunes have resulted in 
 gold, silver, and lead mines, thousands have lost every 
 cent thus invested. Coal has been the most successful 
 of any, as its consumption is based in necessity, and 
 hence has in most cases, when judiciously entered 
 into and carried on with honesty and economy, been 
 paying. A safe rule in mining stocks is never to invest 
 till a dividend has been seen. This if followed would 
 have saved many a man a fortune, and the ground being 
 rooted up in vain in search of hidden treasure. Petro- 
 leum stocks need no praise or censure. 
 
 Gas stocks have been very remunerative, and always 
 will be as long as the present system is followed. They 
 are monopolies both as to price and quality of the article 
 furnished. The result is, they make just such quality of 
 gas as they please, and sell it for just what price they 
 choose to charge, and hence, is there any wonder why 
 they should not make large dividends and heavy profits ? 
 
 Life insurance stocks, on the cash principle, have been 
 
240 How to make Money make Money, 
 
 profitable investments, and would so continue if business 
 could be procured ; but its profitableness has brought 
 up mutual cash-paying premium companies, which are 
 securing all the business by giving to the insured the 
 benefit of the profit to help pay their annual premiums. 
 In this department the Mutual Life is then a good invest- 
 ment for the insured, as the dividends in the most suc- 
 cessful company now in operation averages about forty 
 per cent, upon the annual premiums falling due. 
 
 There are many other stocks, too numerous to men- 
 tion particularly, which are good investments, but those 
 named are the principal. Every stock, however, before 
 being taken should be thoroughly investigated, and the 
 principle laid down heretofore is really the only safe one 
 in stock investment, that they should first show a divi- 
 dend. There are so many combinations and varieties of 
 money making or money losing, that no more definite 
 rule can be given to guide those investing. 
 
 Stocks and bonds form but a small portion of invest- 
 ments for money-making. Notes of hand are both 
 bought and held as collateral security for money. This 
 should not be done by any who are not thoroughly 
 acquainted with the business : otherwise an almost cer- 
 tain chance of loss results. Loans are made on stocks 
 and bonds in like manner ; but when the value of the 
 stocks or bonds are known, the risk is not so great, and 
 can be done with comparative safety by those not skilled 
 in judging of credits. 
 
 Investments are also made in all kinds of movable 
 goods, with a view to sale or use, for a profit. They can 
 hardly be considered investments, in the strict sense of 
 the word, but as money is parted with for them, it is 
 necessary to point out the chances of loss or gain by the 
 
And how to Keep it. 241 
 
 purchase. Here the greatest care must be taken that 
 the value given shall not be above the regular market 
 value, and as much below as the circumstance of the case 
 will allow In that event, no loss will accrue, but a gain 
 by the sale. To do this, requires knowledge and skih 
 of a peculiar kind, only attained by experience and prac- 
 tice. 
 
 The largest fortunes made in this country have been 
 by investments in real estate. But, like others, they 
 must be made with sound judgment, and forecast of util- 
 ity, or loss may result in some few instances, but as a 
 general rule, all are more or less successful. The richest 
 men in New York have made the bulk of their huge for- 
 tunes by real estate, though some have made by merchan- 
 dize in conjunction. Every part of the country has, in 
 like manner, had its smaller results in this way, but the 
 large cities have been the most shining examples. 
 
 The investment in real estate is certain if it be located 
 upon any of the leading streets ; first, for an income equal 
 if not greater than can be had by any other equal secu- 
 rity ; and second, by a continuous percentage added 
 thereto yearly for increase in value. How long or how 
 far this will continue no one can tell ; but it has continued 
 and promises still to continue. Thus, within twenty 
 years, real estate which sold then, now sells for one thou- 
 sand dollars for one invested. Many think that such 
 opportunities never will occur again. This is a mistake. 
 The same chances now exist of making investments in 
 this way that ever have been. 
 
 There are to-day plenty of vacant lots, and even im- 
 proved property that will largely increase over regular 
 interest, but not possibly in the time named one thou- 
 sand to one. Vacant lots will, if in proper localities, pav 
 
242 How to make Money make Money, 
 
 a very large interest over seven per cent. It is, toOj the 
 cleanest and snuggest investment, requiring no attention, 
 and giving a certain return. The improved pays a regu- 
 lar interest, and if in the right lines will pay immensely 
 by increase in value. 
 
 Vacant lots can always have some light improvement 
 which will part pay interest on first cost, if not the whole, 
 leaving the yearly increase in value a splendid dividend 
 on the investment. Then there is no anxiety about 
 honest cashiers, or the vicissitudes which attach to almost 
 every other kind of property. The tenant may fail to 
 pay a month, or a quarter's rent, but your capital is there 
 intact. Real estate investments resemble more nearly 
 the accumulations of the savings institutions, because 
 your compound interest is added from time to time in the 
 regular march of increase in value, while if the increase 
 is applied to the purchase of other real estate the increase 
 is rapid and immense. 
 
 There is no other investment that is not in danger, 
 though it may be remote, of total loss of interest and 
 principal. It is, therefore, considered the very best and 
 safest of all means of improving money. But to those 
 who are so situated that they cannot give attention 
 to such business, the bond and mortgage at seven 
 per cent, stands next. To invest, however, to advantage, 
 the opinion of men skilled in value of real estate and the 
 best locations should always be obtained. But when 
 once invested, do not sell without business should show 
 indications of leaving the location ; then sell and reinvest 
 in the direction of the change. 
 
 By watching the drift of things an experienced dealer 
 can always foretell by certain signs when a new state 
 of things will spring up, and when property, which has 
 
And how to Keep it. 243 
 
 remained dormant for some time, will suddenly be 
 brought in market at greatly advanced rates. But gene- 
 rally speaking any real estate is a good investment that 
 will pay current expenses and seven per cent, on cost, as 
 the progress of the country will of a certainty cause it 
 to increase in value. 
 
 One of the means of judging the value of parts of 
 lots as compared with the whole, may be stated as 
 follows : the first twenty-five feet from front of a hundred 
 foot lot is worth one-half of the whole; the first fifty 
 feet is worth three-quarters of the whole ; the first 
 seventy-five feet is worth ninety per cent, of the whole. 
 This rule will apply generally on any important street ; 
 when the street is not a business one, but one for private 
 residences only, the front decreases somewhat in value 
 in proportion to the rear. 
 
 As a general rule for the improvement of real estate, 
 too much value in building in proportion to the value of 
 the lot may prove a loss. There should be a judicious 
 apportionment of the one to the other, but a little show 
 on the front will always pay well. There is, however, no 
 species of investment that requires more sound judgment 
 and peculiar tact to hit just right always, both as to price 
 and location, than this, and any one investing can well 
 afford to pay a skilful judge a round commission to locate 
 him right. There are many extensively engaged in the 
 business whose opinions are not worth a snap, while 
 there are others who will never make a mistake. 
 
 Some are gifted in this way, while others with ever so 
 much practice seem unable to get hold of the true under- 
 lying principle. Some men are naturally money-makers 
 in merchandize, while others are blunderers forever. 
 Much more could be said on investments, but space will 
 
244 How to make Money make Money, 
 
 not permit. Let any one who has money and wishes to 
 make it make more money, consider what he has in hand, 
 and let him approach an investment as he would his 
 bitterest personal enemy, looking out at every step for 
 an assault. No matter what you invest in, hold your 
 money till you get its full equivalent in value, and that, 
 too, made as secure as security will make it ; remember- 
 ing that while you hold the money it can and will com- 
 mand any security you ask. When you have parted 
 with it you cannot get more than you have. 
 
And how to Keep it. 245 
 
 CHAPTER XX. 
 
 HOW MONEY IS LOST. 
 
 Endorsing paper. Lending money. Obje6t. Inquiry. Lose friend 
 and money .; Take and give security. Loss on notes of hand. 
 Credits. How avoided. No change probable. Loss to a 
 dead certainty. Reasons for crediting. Profit the bait. 
 Short notes remedy. Small and large transactions. Don't 
 save under forty. Why ? Reason. Paper moonshine. Loss. 
 Reasoning. Others controlled. Million of moonshine. Now 
 he controls. Plenty of dollars. Safe rule. New enterprises. 
 Schemers. Crafty individuals. Seductive talk. See dividends 
 first. Petroleum and 7 per cent. Entanglements. Responsi- 
 bility. Good rules. Pay lawyer to keep out rather than get 
 out. Stock speculations. Stock investments. Follow same 
 course. Injudicious investments. Same old story repeated. 
 Gold mine in the sun. Petroleum well. Millions preceded. 
 
 To those who have had experience in this way no expla- 
 nation is necessary, and few, probably, will be benefited 
 by telling it to them. But the object of this book 
 would not be accomplished without a rehearsal of what 
 every one who has handled money or valuables knows 
 One prolific source of loss is endorsing paper not youi 
 own, and in which you have no interest in the profits 01 
 results flowing from it. Why do you do it then ? Pro- 
 bably to aid a friend or assist another to get what he 
 cannot obtain without your aid. You lend him then 
 your capital, without interest generally, and without 
 receiving any benefit, except possibly a return of the 
 favor. If, for a return of the favor, you run a double risk 
 
246 How to make Money make Mojiey, 
 
 to make one profit, which is poor financiering at best 
 If to oblige a friend you are helping him to do what he 
 cannot do himself, thereby overstraining his ability, and 
 helping him probably to a loss. 
 
 You are, then, not doing him a friendly act ; but one by 
 which, if not successful, you will lose your friend and your 
 money too. If your friend has placed himself where he 
 must have aid, it is certainly better that he should suffer 
 the consequences, than an innocent party who has had no 
 hand in the matter. By refusing to endorse, you keep 
 but your own, which no man could complain of, and if 
 your friend be worth keeping, you will retain him also. 
 The same can be said of lending money. But if you do 
 either, remember that your money is as good to you, as 
 theirs to a Bank, and the Bank would require security. 
 Therefore take security if you endorse or lend, and give 
 it in case you require either yourself. No one can com- 
 plain if you adopt that as a rule of action. 
 
 The largest source of loss is the parting with money 
 or valuables for notes of hand, or credits without notes. 
 On this subject much has already been said. In this 
 lies most of the causes of failure of merchants or traders 
 of any grade. But says the reader, " How can this be 
 avoided ? Goods must be sold, and they cannot be sold to 
 any extent without crediting, and if you do credit en- 
 dorsers cannot always be had ? " True ; the way things 
 are done generally, the propositions are correct, and 
 what are the results ? Failure or loss ? The results of 
 statistics in mercantile life proves the fact most conclu- 
 sively ; and, as long as the same system is pursued, the 
 same results will follow. Then we say yes ; go on and 
 credit, if you please, and reap the almost universal 
 penalty in failure and poverty in after years. 
 
And how to Keep it. 247 
 
 There may be some, however, who will do differently, 
 and desire to make a change from this certain road of 
 destruction. To these the pointing out the causes of 
 failure may be interesting, instructive, and may do good. 
 If the merchant will look at his goods as somuch money, 
 why will he part with them on any less security than the 
 banker or financier, who is generally successful ? Until 
 the operator can ground this principle in his credits, failure 
 is almost certain ; if not hopeless failure, loss of profits 
 and money follows, to a dead certainty. 
 
 The reason why men give credits in this way is, that 
 they are allured by the profit, and lose sight of the abso- 
 lute money engaged ; for, let any one investigate the mat- 
 ter, and he will see that if no profit was in the transact- 
 ion, or very little, the credit would not be so readily given, 
 if given at all. Then the principle results that money is 
 lost in an overstrained desire for profit, as a general rule, 
 though it may be lost occasionally where this principle 
 does not enter. Nor need the merchant say that busi- 
 ness cannot be done without excessive crediting. 
 
 If the purchaser cannot give, or will not give, endorsed 
 paper or security, if he is worthy of credit, let him give 
 what he would be compelled to give to a Bank thirty, 
 sixty, or ninety day notes. Nor should these be taken 
 without the utmost scrutiny ; for if such merchants will 
 realize that the acceptance of such a note might be the 
 cause of his failure, he would be very cautious. Experi- 
 ence has shown, top, that there is not as much danger in 
 loss on small, as on large transactions. Men generally 
 lose on big amounts, and such would be the philosophical 
 reasoning, if experience had not taught the fact. No 
 one will be likely to go wrong in taking paper, who will 
 adopt the banking principle of time and responsibility. 
 
248 How to make Money make Money, 
 
 That some losses will occur, even under such a severe 
 rule of credit, no one will deny ; but such is the most 
 perfect plan in the giving of credits for merchandise, or 
 other valuables. 
 
 Very few men a mere fraction of the whole keep 
 money that is made before they are thirty-five or forty 
 years of age, in general trading business. Why ? Sim- 
 ply because men will not profit by the experience of oth- 
 ers. Hence the same routine for one and atl ; and if 
 they are successful, and escape the rule, it is good luck 
 if not good management. They have such overwean- 
 ing confidence in their own judgments, that they can see 
 what others can't, and only discover that they are human 
 when their money is gone. 
 
 A merchant who had made a very handsome fortune 
 in paper moonshine, came forward with it to breast the 
 storm of the commercial crisis of 1836. The result was, 
 that with the bankrupt act: which followed, and the crash 
 of the time, his fortune had dwindled to a mere song. 
 Being a young man, with an anological mind, he set him- 
 self about an investigation of the whole matter, to see 
 wherein he had made the grand mistake that lost him his 
 years of labor. The conclusion was, that he had put his 
 fortune and money into the hands, and under the control 
 of others, whose interest, upon general principles, was to 
 keep it, rather than return it. He saw his blunder, and 
 from that day commenced a new financial life, upon the 
 principle that he would never put a dollar of his money 
 under the control of another man. He has lived up to the 
 principle to this day ; for, as he says, he has at this time, 
 on the 1836 investment, in interest and principal, about 
 one million of dollars in the hands of others, which is as 
 much as one man ought to have out at a time. This 
 
And how to Keep it. 249 
 
 principle, carried out, has led to investment in bond and 
 mortgage, and real estate, and the result in dollars can 
 be easily imagined. 
 
 It is a safe rule to adopt in any business, and will in 
 the end lead to the most money. It brings the trader to 
 sell for cash, and the capitalist to avoid dishonest bank 
 officers and scheming men who control moneyed institu- 
 tions. It avoids nearly all the risks of losing, and brings 
 money directly under the control and supervision of the 
 one who takes the greatest interest in its preservation. 
 Of course this could not become a universal rule, nor is 
 there any danger that it will ; but those who adopt it will 
 find their dollars when they want them, and accumulation 
 ' will follow as a necessary consequence. 
 
 Another prolific source of loss is the placing of money 
 into new and untried enterprises, and under the control 
 of schemers. How sane men can do such things is 
 beyond calculation. There are enterprises, of course, 
 which are worthy of investment ; but the large class are 
 devices to get money for other objects than the legiti- 
 mate dividend proposed. How sweetly and eloquently 
 the crafty individual will sit by your side, and sing his 
 bewitching song of high dividends and safe returns ! 
 
 Your best friend he may be, but has he shown by his 
 fortune made in the same way that he is competent to 
 advise, or that his recommendation is worth a straw ? 
 Not one dollar probably can he show that he has made 
 by such a thing, yet there are men who will become so 
 infatuated by " his talk " that they will eagerly grasp the 
 pen and set their names to paper for thousands, and 
 incur obligations for thousands beyond, for schemes 
 about as likely to be profitable as a railway to the moon. 
 Where is there a guarantee or a cent of security in the 
 
250 How to make Money make Money , 
 
 whole thing ? Nothing except the talk of some one who 
 wishes to make up a company, a stock, or a scheme to 
 control your money and pass it gently from your pocket 
 to his or one of his associates. 
 
 Such people will quietly sit down and hear a long stor\ 
 about an enterprise 500, 1,000 or 5,000 miles off, and 
 take the statement second, third, or fourth hand, and 
 greedily hand out the money to the man who could not 
 get a personal loan of $500 on his note, or even a loan 
 on bond and mortgage in the same place where both 
 resided, without abundant security. 
 
 People having money in possession would always 
 do well to hear in the first place what profits are 
 promised, or what are probable, and if they are over seven 
 or eight per cent., take a sudden mistrust of the thing 
 and fully appreciate that some one is after your money 
 and don't intend you shall get it back. Never mind the 
 dividends promised or conceived. If they can be made 
 let some one else make them, and wait till that is accom- 
 plished before you risk your money. Remember always 
 that legal interest is about all money can earn, and be 
 sure of the return of the principal. 
 
 If all the money that has been spent in obtaining 
 petroleum had been invested at seven per cent, in bond 
 and mortgage, this account would be far ahead of the 
 real petroleum capital and profit. There is, however, a 
 fascination about making a sudden fortune that will con- 
 tinue to find devotees in such hazards. But some there 
 are who should avoid the very presence of such things 
 and their influences, because they do not themselves 
 understand the subject, and they are compelled to derive 
 all their information from those whose interests are that 
 your money should go to help theirs or their interest. 
 
And how to Keep it. 251 
 
 A good rule for any one who has money is to keep 
 away from all entanglements with others. Responsibility, 
 when the amount is comparatively trifling, may lose you 
 your entire estate. Never sign a paper, or your name to 
 anything that you do not fully understand, and never to 
 a contract of any magnitude, without consulting a lawyer. 
 The trifle you would pay him for advice may save you 
 much in comfort and money. 
 
 No safer mode of action can be adopted by any one 
 than keeping aloof from all intermingling of interest and 
 responsibilities, and managing, under the best advice, your 
 own capital ; keeping always it, or as good security for 
 money as it is, in your own hands. This will secure all 
 the comfort that money can bring, because you get your 
 income and avoid all legal questions and controversies ; 
 and if a man wishes to be happy, let him keep out of the 
 law, and the way to keep out, is to see to it, that all your 
 business is transacted legally correct, for the best money 
 any one can spend is to pay a lawyer to keep him out of 
 controversies, rather than pay him to get him out. 
 
 Much money is lost by speculation in things that have 
 little or no intrinsic value. Among these, the most im- 
 portant is speculation in stocks. Those who have tested 
 this subject are enabled to certify that it is the quickest 
 and surest means of getting rid of money that is known. 
 Some make, to be sure, but they make but to lose on the 
 next turn of the wheel. Any one may by a single opera- 
 tion make, but if the thing be followed up, there is but 
 one result. Millions have been lost by this process. 
 There is quite a difference between speculating in stocks 
 and buying them, when they are under value in the mar- 
 ket for investment. This can be done always with safety. 
 But buying stocks that do not pay a legitimate dividend, 
 
252 How to make Money make Money, 
 
 in the hope of selling to some one else as foolish as the 
 buyer, is a strange infatuation. 
 
 In looking over the long line of our wealthy men, and 
 *"he vast amount of capital sunk in this style of business, 
 any reasonable person would suppose such operations 
 would cease some day. But they not only continue, but 
 increase in volume. It is like the excitement of war, 
 the more soldiers that fall in battle, the more will rush 
 into its deadly carnage. It is just so in these specula- 
 tions ; the failure and disappearance of one large house, 
 or operator, gives room for half a dozen smaller ones 
 who fancy they can avoid what great experience has not 
 avoided, and make some money where others have lost 
 it. Such is human nature, and such it will continue, all 
 the books, experience, and advice in the world to the 
 contrary notwithstanding. 
 
 Money is lost in injudicious investment ; that is, pay- 
 ing more for things than they are worth. It sometimes 
 happens, too, that circumstances beyond the control of 
 the most sagacious will cause depreciation in value of 
 that which at the time was valuable. The burden of such 
 chances can be avoided by good judgment and watchful- 
 ness, taking care to sell in proper time, if such circum- 
 stances arise. These, then, are a few, and it is believed 
 the most common sources of the loss of money. So 
 peculiar, however, is the action of the human mind on 
 this subject, that although individuals see these causes 
 in action daily around them, and book after book be 
 written reciting them, little can be hoped for in a radi- 
 cal change, of these almost certain results. The reader 
 may say to himself, all this is very well in its way, and 
 turn from its reading to lend an irresponsible individual 
 money, or subscribe to an extraordinarily productive gold 
 
And how to Keep it. 253 
 
 mine in the sun, or buy stock in a petroleum well never 
 sunk, or that never will be sunk, and only wake up to 
 the real situation when his money has gone where mil 
 lions have preceded. 
 
254 How to make Money make Money, 
 
 CHAPTER XXI. 
 
 EARNINGS AND SAVINGS. 
 
 Object of Saving.--Duties. Position in Life. No meanness or penu- 
 riousness. Ten per cent, of earnings. Fifteen per cent reserve. 
 Example All increase. Net profits. Fortune should spend 
 freely. Spending others' money. Wife responsible. Fine 
 things. Influence. Husband labors. The Grundies. Smash 
 up. Who responsible. Ignorance all around. Husband same 
 results. Squanders. Wife saving. People don't think. No 
 fixed principles. Never suspect. Sad reality. Great Revolu- 
 tion. What rule ? Spend a little less. Principle of life. The 
 Savings Bank. Real nothings. No pleasure or position. 
 Surroundings and Associates. Think how much it is. How 
 remedied. Change of base. Money improves position. Lad- 
 der. Cloud of hope and desire. Platform.--Calculate inde- 
 pendence. Example. Use of tables. Great idea. Tables of 
 earnings and savings. 
 
 We have now come to the whole aim and gist of 
 money-making, considered as a means of accumulation. 
 So far as the object of this work is concerned, the goal 
 to be arrived at is the simple independence, or, to that 
 point when sufficient money is accumulated and safely 
 invested, so that the individuals or those dependent upon 
 them shall be out of danger of falling a charge to the 
 public, or their friends ; we have the right to ask this of 
 all, because, as has been said before, this is a moral ana 
 political duty. But we do not wish to be considered as 
 asking more, though we may have gone further and 
 shown how fortunes can be made. 
 
 Nor can we ask that more savings shall be made than 
 
And how to Keep it. 25^ 
 
 will accomplish this, and while in like manner, we may 
 show, that by further accumulations fortunes will result. 
 As the foundation, then, we claim that till the indepen- 
 dence is secured the individual has no moral or political 
 right to spend more than is necessary for his support, in 
 a way commensurate with his position in life. All ex- 
 travagances and useless expenditures should be avoided, 
 and a persistent course of rigid economy pursued till the 
 independence is accomplished. 
 
 Nor should they descend to meanness or penurious- 
 ness, but instead of gratifying every want should curtail 
 a portion, and the principle laid down on page 229 for 
 the professional salaried person is a sound one foi 
 every grade of life. Consider, as in that case, that ten 
 per cent, of your earnings is not your own, but that you 
 are your own trustee to secure your own independence 
 and fifteen per cent, to be deposited in a Savings Institu- 
 tion as a reserve fund to help out in case of accident. 
 Let the ten per cent, be invested in premiums of a ten- 
 year endowment policy in proportion to your means, 
 and this part of your duty in life is done, and if you do 
 more afterward and get a fortune, well. 
 
 Taking any view of the case, either of one seeking a 
 fortune or one seeking an independence, the operation 
 of this cardinal rule will steady and make prosperous 
 his whole financial life. Suppose a merchant, or trader 
 of any kind, is in the receipt of $10,000 per annum of 
 profit, he takes $1,000 and invests in premiums of a ten- 
 year endowment policy, and he puts $1,500 into a Savings 
 Bank to accumulate at six per cent, as a reserve fund. 
 If he lives till the ten years expires, his policy will fall in, 
 and if taken in a Cash Mutual will amount at last to 
 $12,615.64 besides having his life insured in the mean 
 
 11* 
 
236 How to make Mo?iey make Money, 
 
 time, and his $1,500 per annum will be $18,923.46 and 
 the two added together will amount to $31,539.10. 
 
 Now, if he has paid his expenses and has the $7,500 
 invested in his business, and it has accumulated at the 
 rate of eight per cent, he would have from this source 
 $111,660.05, in all $143,199.15. This same rule can be 
 applied to any conceivable income ; the main feature 
 being the life-endowment policy, by which, if death 
 occurs, a provision is left for those dependent. This is 
 especially imperative upon every married man on enter- 
 ing business. No matter how small the profits may be : 
 the principle is the same, and the endowment policy 
 would be small in proportion. 
 
 Net profits are entirely dependent upon expenses, or 
 at least nearly so, for there is no occupation that does 
 not afford a profit, that is, more income than is required 
 to meet necessary expenses. To ensure savings, then, the 
 expenses should be reduced to the minimum, which will 
 give the maximum profit. To those who have fortunes, 
 the more they spend, and consequently the less they 
 save, the better for the community at large. In this way 
 money is put in circulation, and it becomes easier for 
 those who are striving for it to get it. But until the 
 independence is obtained, the rule and right is directly 
 the reverse. They have no right to spend till they have 
 accomplished this object, for the chances are they will 
 spend what is not their own. 
 
 Nor has any man who owes others the right to spend 
 more than is necessary to support, in a proper manner, 
 his relative position in life, for he, in like manner, will be 
 found in the end to have been spending money belonging 
 to others in case he fails. As failure is one of the 
 chances of trade, he is not only honorablv, but morally 
 
And how to Keep it. 257 
 
 bound to save beyond his necessities till he is out of 
 debt, then he can do as he pleases. 
 
 It then becomes a close question to decide what are 
 necessary expenses. If the trader apes the man of for- 
 tune in his expenditures, while he is yet owing largely, 
 the result may be most certainly conjectured. If, how- 
 ever, he lives moderately economically, and in proportion 
 with his income, leaving a large portion of it to the good, 
 success will attend in all probability. Expenditures 
 depend entirely upon the determined will and good judg- 
 ment of the person. These are, in nineteen cases out of 
 twenty, governed entirely in families by the wife. The 
 general rule is the man loses outside, the wife spends 
 inside. 
 
 The old saying that the wife can throw out with a tea- 
 spoon what the husband can throw in with a shovel, is a 
 truism. The whole question of savings rests mainly 
 with the wife. She is responsible, and she alone, for the 
 entire success as a general rule. The man is usually 
 satisfied with what the wife is satisfied with. She is in 
 very many cases responsible direclly for the failure of the 
 husband. She must have a fine house, fine furniture, 
 fine clothing, carriage and horses, and fine everything, 
 while her husband is trying to make money. She hears 
 of his income, of his making money, and of large opera- 
 tions, and not knowing the course of trade, naturally sup- 
 poses she is rich, and that she can lavish and spend. 
 She says to her plastic husband, " Mrs. Grundy does so- 
 and-so, and she has no more money than we have." 
 
 Society, dress, parties, balls, furniture and every sort 
 of expenditure is gone into, while the husband makes 
 shift to pay his notes from day to day, and may be strain- 
 ing every nerve to keep his head above water. The wife 
 
258 Hozv to make Money make Money, 
 
 still drives and dashes in the most reckless and cruel 
 manner, because, having started, she cannot, without 
 losing her caste among the Grundies, fail to keep up her 
 end in society. The husband, with no more power to 
 stay the extravagance of home matters than to stop the 
 current of Niagara with a quill, pays, and leaches his pro- 
 fits from day to day. 
 
 The end finally comes, and failure follows, and then 
 distress often. The man hardly knows why he has 
 failed, the wife knows still less, never for an instant sup- 
 posing that she herself has plunged the dagger of dis- 
 grace into the heart of her own family. She will never, 
 or at least has never sat down and added up the long list 
 of follies and footed them up in thousands on thousands, 
 spent through her own influence, the direct cause of her 
 husband's misfortunes. 
 
 Now what is the fundamental cause of such results ? 
 An ignorance on the part of both the husband and wife 
 of their true position. The wife is led to this course by 
 the vain supposition that the husband really and truly 
 has the means to support it, while the husband often 
 keeps from the wife the real state of his affairs. Both 
 are groping in the dark on the vital point of their future 
 happiness ; in truth, anticipating what they are seeking 
 for. The husband on the other hand, by a similar course 
 unaided by the wife, often brings about the same result. 
 
 Fast horses, clubs, suppers, dinners, and numberless ex- 
 travagances squander away the earnings, while the wife is 
 at her humble home economical and saving. ' She strains 
 every nerve to save, while the heartless or heedless hus- 
 band fast saps the foundation of their property, and want 
 follows. Many would blame both husband and wife, and 
 : n a certain sense they are to blame. But they are both 
 
And how to Keep it. 259 
 
 more to blame for their ignorance of the true principles 
 of living than for the fact. Such people live without 
 thinking. They never sit down and calculate upon the 
 course they are pursuing, nor do they ever refer their 
 actions or prospects to any reasonable coordinates. 
 
 They live with the idea that living is life, not that life 
 is for a living. They have no plan of action, no fear of 
 the future, as the child has no fear of fire till his experi- 
 ence has taught him that the burn is painful. They 
 never have failed nor been in want, why should they 
 know what it is ? Those thus jeopardized may possibly 
 read this book, but they will never suspect that they are 
 in danger of what has been just portrayed by no means 
 while to-morrow may bring the sad reality. 
 
 If every man in business, and every woman who holds 
 the purse-strings of the home expenditure could be early 
 in life brought by reading or experience to appreciate 
 the terrors of want after affluence, consequent upon 
 failure, what a revolution would be wrought in the 
 world ! The dollar that would or might prevent such a 
 catastrophe would not be squandered in nothings till it 
 could be done without danger till accumulation of sav- 
 ings had rendered such a result next to impossible. 
 
 How are these things to be done ? Every case in life 
 is a different one ; therefore, no rule can be given by 
 which all can act. But let any one consider carefully 
 what expenditures in the course of a week he can avoid, 
 that he determines to make : say, once less to the the- 
 atre, one less cigar a day, one less drink, one less party 
 a week, and so on ; deny yourself something every day, 
 and put the money into a pocket provided for the sav- 
 ings. Do this for a short time, and see the result. If 
 you do it for six months your future is made, for* the 
 
260 How to make Money make Money, 
 
 habit once contracted will soon run into a principle of 
 life. 
 
 Let any one do this who will not or cannot adopt the 
 plan of ten per cent., and fifteen per cent., referred to 
 before, and when the week comes around put the money 
 aside, or place it in a Savings Bank. The whole object 
 will be accomplished ; for the moment any one has 
 acquired the habit of saving it grows upon them. Do 
 not undertake to be mean and niggardly, but only lay 
 aside a part of your current expenditures in the real 
 nothings, which neither give pleasure or position, and a 
 new world of prosperity has opened upon your path in 
 life. 
 
 The only obstacle to such a course lies in your sur- 
 roundings or associates. The great question for each 
 one to decide is whether you will live to please them or 
 to please yourself, and for your own prosperity and hap- 
 piness. Whether you will live to be poor and dependent 
 or independent and beyond fear of poverty. To this end 
 the beginner in life, by looking at the table on page 
 seventy-eight, will see how many dollars of his indepen- 
 dence or fortune he spends when he uselessly throws 
 away a dollar. If he assumes that he will have an in- 
 dependence at 30 years of age, every dollar spent at 20 
 years of age is $2.10 at 30; is $4.14 at 40; is $8.14 at 
 50; is $16.02 at 60; is $31.51 at 70; and is $62.00 
 at 80. 
 
 The most satisfactory and startling manner that this 
 subject of unnecessary yearly or daily expenditure can 
 be brought to the mind, is to keep an account of every 
 cent spent in the course of a year. Then, go over the 
 list and select such as were unnecessary or could have been 
 avoided without interfering with your positive position in 
 
And how to Keep it. 261 
 
 life. Any one has but to do this and the subject will be 
 illustrated to that mind at least. Then, to make the 
 lesson practical and Useful, stop where you are in expen- 
 ditures, and change your base, to a saving of the unneces- 
 sary items, and a few years will show the magnitude of 
 the result, and your social position will be improved, your 
 entire character and social standing will have insensibly 
 changed for the better. 
 
 For let the world say what it may, money alone im- 
 proves the position of any one, and if they possess all 
 the other qualities of the educated and, refined the goal 
 of life in this direction is reached. Then let every one 
 remember that the dollar in hand can be invested in such 
 a way as to make one round in the ladder opposition, or 
 it can be foolishly spent and leave you just where you do 
 not desire to be, at the foot in poverty. The great trouble 
 is that people will not think, will not stop to consider a 
 course of action and analyze their condition and what 
 they are about, but heedlessly push on in an indefinite 
 cloud of hope and desire, expecting that Dame Fortune is 
 either bound or not to see them through. Dame Fortune 
 is yourself, and the sooner you find it out the sooner you 
 will see your independence or your fortune. 
 
 We cannot leave this subject without again calling 
 attention to the platform recommended in page 229 for 
 the professional salaried person. By assuming that rule 
 of action all questions of savings are included in it. If 
 the income be large enough the ten per cent, can be 
 directly invested in bond and mortgage at seven per 
 cent, as a permanent fund not to be touched, to be spent 
 The fifteen per cent, can be invested in real estate or in 
 some productive security, and to avoid the possibility of 
 Ihe loss in business operations of the trust fund of ten 
 
262 Hozu to make Money make Money, 
 
 per cent, for the benefit of the dependants, sucn can be 
 placed in their name as the permanent reserve fund. 
 
 Those having small amounts of savings, the Savings 
 Banks are the only places where such funds can be pro- 
 perly put, and ten per cent, of receipts thus disposed of 
 will soon tell a handsome amount to their credit. To all 
 such, two accounts should be opened with the Bank, 
 one the permanent fund of ten percent, the other as much 
 of the fifteen per cent, as is possible to spare, in a sepa- 
 rate account. Having then established the rule adhere 
 to it, and your independence is secured, and if you live 
 long enough your fortune too. 
 
 This then being the securest machinery to bring 
 about a result which all desire, let no one delay in its 
 execution. To undertake saving in any other form is 
 simply to undertake an independent decision upon 
 every case of expenditure that arises. This rule covers 
 every one, and will accomplish all that is desired. 
 
 We have prepared the following tables of earnings 
 and savings, which give all per diem amounts from one 
 cent to fifty dollars, from one year to fifty years, by which 
 any one can determine when he wishes his independence 
 to fall in, or what he will have to save a day, to gain the 
 amount sought. By an example their use can be under- 
 stood. They are for accummulations without interest and 
 with interest at 5, 6, 7, and 8 per cent, per annum, the 
 respective amounts being improved each six months. 
 
 Suppose you wish to find how much you would have 
 to save a day for ten years to accumulate 5,000. Look 
 at the table of ten years, and run down either of the 
 columns without interest and with interest at 5, 6, 7, or 8 
 per cent. You find that #1,60 cents by adding $3,130 
 the accumulation of $1, and $1,878 that of 60 cents, you 
 
And how to Keep it. 263 
 
 have $5,008 without interest. So that $1,60 cents per 
 day will accumulate in ten years, without interest, to be 
 $5,008, and with interest the same process is had in 
 each of the respective columns of 5,6, 7, or 8 per cent. 
 
 These tables are interesting, and by looking at them 
 often and studying them, the great idea of gain by accu- 
 mulation can be grounded in the mind, and the benefi- 
 cial results to the money-seeker proved. They show, 
 too, how much per diem amounts will accumulate in any 
 number of years. 
 
264 
 
 How to make Money make Money, 
 
 Table 
 
 Showing the net amount of earnings of One Cent to Fifty Dol- 
 lars per day for One Year of 313 working days, without 
 interest, and with interest at 5, 6, 7, and 8 per cent., improved 
 each six months. 
 
 Savings 
 
 Without 
 
 With interest 
 
 With interest 
 
 With interest 
 
 With interest 
 
 per day. 
 
 interest. 
 
 ats 
 
 at 6 
 
 at 7 
 
 at 8 
 
 
 
 per cent 
 
 per cent. 
 
 per cent. 
 
 per cent. 
 
 I 
 
 $3 13 
 
 $3 17 
 
 $3 18 
 
 $3 18 
 
 $3 19 
 
 2 
 
 6 26 
 
 6 34 
 
 6 35 
 
 6 37 
 
 6 39 
 
 3 
 
 9 39 
 
 9 11 
 
 9 53 
 
 9 55 
 
 9 58 
 
 -4 
 
 12 52 
 
 12 68 
 
 12 71 
 
 12 74 
 
 12 77 
 
 5 
 
 15 65 
 
 15 85 
 
 15 88 
 
 15 92 
 
 15 96 
 
 6 
 
 18 78 
 
 19 01 
 
 19 06 
 
 19 11 
 
 19 16 
 
 7 
 
 21 91 
 
 22 18 
 
 22 24 
 
 22 29 
 
 22 35 
 
 8 
 
 25 04 
 
 25 35 
 
 25 42 
 
 25 48 
 
 25 54 
 
 9 
 
 28 17 
 
 28 52 
 
 29 59 
 
 28 66 
 
 28 73 
 
 10 
 
 3i 3o 
 
 31 69 
 
 31 77 
 
 31 85 
 
 3i 93 
 
 15 
 
 46 95 
 
 47 54 
 
 47 65 
 
 47 77 
 
 47 89 
 
 20 
 
 62 60 
 
 63 38 
 
 63 54 
 
 63 70 
 
 63 85 
 
 25 
 
 78 25 
 
 79 23 
 
 79 42 
 
 79 62 
 
 79 82 
 
 30 
 
 93 9 
 
 95 o7 
 
 95 3i 
 
 95 54 
 
 95 78 
 
 40 
 
 125 20 
 
 126 76 
 
 127 08 
 
 127 39 
 
 127 70 
 
 So 
 
 156 50 
 
 158 46 
 
 158 85 
 
 159 24 
 
 159 63 
 
 60 
 
 187 80 
 
 190 15 
 
 190 62 
 
 191 09 
 
 191 56 
 
 70 
 
 219 10 
 
 221 84 
 
 222 39 
 
 222 93 
 
 223 48 
 
 80 
 
 250 40 
 
 253 53 
 
 254 16 
 
 254 78 
 
 255 41 
 
 90 
 
 281 70 
 
 285 22 
 
 285 93 
 
 286 63 
 
 287 33 
 
 $1 00 
 
 313 00 
 
 316 91 
 
 317 69 
 
 318 48 
 
 319 26 
 
 2 00 
 
 626 00 
 
 633 82 
 
 635 39 
 
 636 95 
 
 638 52 
 
 3 00 
 
 939 
 
 95o 74 
 
 953 08 
 
 955 43 
 
 957 78 
 
 4 00 
 
 1,252 00 
 
 1,267 65 
 
 1,270 78 
 
 1,273 91 
 
 1,277 04 
 
 5 00 
 
 1,565 00 
 
 1,584 56 
 
 1,588 47 
 
 1,992 39 
 
 1,596 30 
 
 6 00 
 
 1,878 00 
 
 1,901 47 
 
 1,906 17 
 
 1,910 86 
 
 1,915 56 
 
 7 00 
 
 2,191 00 
 
 2,218 39 
 
 2,223 86 
 
 2,229 34 
 
 2,234 82 
 
 8 00 
 
 2,504 00 
 
 2,535 3o 
 
 2,541 56 
 
 2,547 82 
 
 2,554 08 
 
 9 00 
 
 2,817 
 
 2,852 21 
 
 2,859 26 
 
 2,866 33 
 
 2,873 34 
 
 10 00 
 
 3,130 00 
 
 3,169 12 
 
 3,176 15 
 
 3,184 77 
 
 3,192 60 
 
 15 00 
 
 4,695 00 
 
 4,753 69 
 
 4,765 42 
 
 4,777 16 
 
 4,788 90 
 
 20 00 
 
 6,260 00 
 
 6,33% 25 
 
 6,350 90 
 
 6,369 55 
 
 6,385 20 
 
 25 00 
 
 7,825 00 
 
 7,922 81 
 
 7,942 37 
 
 7,961 94 
 
 7,981 50 
 
 30 00 
 
 9,390 00 
 
 9.507 37 
 
 9,530 88 
 
 9,554 32 
 
 9,577 80 
 
 35 00 
 
 10,955 00 
 
 11,091 84 
 
 11,119 32 
 
 11,146 71 
 
 11,174 10 
 
 40 00 
 
 12,520 00 
 
 12,676 50 
 
 12,707 80 
 
 12,739 10 
 
 12,770 40 
 
 45 00 
 
 14,085 00 
 
 14,261 06 
 
 14,296 28 
 
 H,33i 49 
 
 14,366 70 
 
 50 00 
 
 15,650 00 
 
 15,845 63 
 
 15,884 75 
 
 15,923 88 
 
 15,963 00 
 
And how to Keep it. 
 
 265 
 
 Table 
 
 Showing the net amount of earnings of One Cent to Fifty Dol- 
 lars per day for Five Years of 313 working days, without 
 interest, and with interest at 5, 6, 7, and 8 per cent, improved 
 each six months. 
 
 Savings 
 per day. 
 
 Without 
 interest. 
 
 With interest 
 
 at 5 
 
 per cent. 
 
 With interest 
 
 at 6 
 
 per cent. 
 
 With interest 
 
 at 7 
 
 per cent. 
 
 With interest 
 
 at 8 
 
 per cent. 
 
 I 
 
 $15 6 5 
 
 $17 53 
 
 $17 94 
 
 $18 36 
 
 $18 79 
 
 2 
 
 31 30 
 
 35 o7 
 
 35 88 
 
 36 72 
 
 37 58 
 
 3 
 
 46 95 
 
 52 60 
 
 53 82 
 
 55 08 
 
 56 37 
 
 4 
 
 62 60 
 
 70 13 
 
 71 76 
 
 73 44 
 
 75 16 
 
 5 
 
 78 25 
 
 87 67 
 
 89 7o 
 
 91 80 
 
 93 95 
 
 6 
 
 93 9 
 
 105 20 
 
 107 65 
 
 no 16 
 
 112 74 
 
 7 
 
 109 55 
 
 122 73 
 
 125 59 
 
 128 52 
 
 131 53 
 
 8 
 
 125 20 
 
 140 27 
 
 143 53 
 
 146 88 
 
 150 32 
 
 9 
 
 140 85 
 
 157 80 
 
 161 47 
 
 165 24 
 
 169 n 
 
 10 
 
 156 50 
 
 175 33 
 
 179 41 
 
 183 60 
 
 187 90 
 
 15 
 
 234 75 
 
 263 00 
 
 267 11 
 
 275 39 
 
 281 84 
 
 20 
 
 313 00 
 
 350 00 
 
 358 82 
 
 367 19 
 
 375 79 
 
 25 
 
 39 1 2 5 
 
 438 33 
 
 44S 52 
 
 458 99 
 
 469 74 
 
 30 
 
 469 50 
 
 526 00 
 
 538 23 
 
 550 79 
 
 563 69 
 
 40 
 
 626 00 
 
 701 33 
 
 717 64 
 
 734 39 
 
 75i 58 
 
 50 
 
 782 50 
 
 876 66 
 
 897 03 
 
 917 98 
 
 939 48 
 
 60 
 
 939 00 
 
 1.052 00 
 
 1,976 46 
 
 1,101 58 
 
 1,127 37 
 
 70 
 
 1,095 5 
 
 1,227 33 
 
 1,255 87 
 
 1,285 17 
 
 i,3i5 27 
 
 80 
 
 1,202 00 
 
 1,402 66 
 
 i,435 28 
 
 1,468 77 
 
 1,503 16 
 
 90 
 
 1,408 50 
 
 1,578 00 
 
 1,614 69 
 
 1,652 37 
 
 1,691 06 
 
 $1 00 
 
 1.565 00 
 
 1,753 33 
 
 1,794 10 
 
 1,835 96 
 
 1,878 96 
 
 2 00 
 
 3,130 00 
 
 3,506 66 
 
 3,588 19 
 
 3,671 93 
 
 3,757 9i 
 
 3 00 
 
 4,695 00 
 
 5,259 99 
 
 ,5,382' 29 
 
 5,507 89 
 
 5,636 87 
 
 4 00 
 
 4,695 00 
 
 7,013 32 
 
 7,176 39 
 
 7,343 85 
 
 7,515 82 
 
 5 00 
 
 7,825 00 
 
 8,766 65 
 
 8,970 49 
 
 9,179 82 
 
 9,394 78 
 
 6 00 
 
 9,390 00 
 
 10,519 98 
 
 10,764 58 
 
 11,015 78 
 
 11,273 73 
 
 7 00 
 
 10,955 00 
 
 12,273 30 
 
 12,558 68 
 
 12,851 74 
 
 13,132 69 
 
 8 00 
 
 12,520 00 
 
 14,027 63 
 
 H,352 78 
 
 14,688 70 
 
 15,031 65 
 
 9 00 
 
 14,085 00 
 
 15,779 96 
 
 16,146 87 
 
 16,523 67 
 
 16,910 60 
 
 10 00 
 
 15,650 00 
 
 17,533 29 
 
 17,940 97 
 
 i8,359 63 
 
 18,789 56 
 
 15 00 
 
 23,475 00 
 
 26,299 94 
 
 26,711 46 
 
 27,539 45 
 
 28,184 34 
 
 20 00 
 
 31,300 00 
 
 35,066 58 
 
 35,881 94 
 
 36,719 26 
 
 37,579 I2 
 
 25 00 
 
 39,125 00 
 
 43,833 23 
 
 44.852 43 
 
 45,899 08 
 
 46,973 89 
 
 30 00 
 
 46,950 00 
 
 52,599 88 
 
 53,822 91 
 
 55,078 89 
 
 56,368 67 
 
 35 00 
 
 54,775 00 
 
 61,366 52 
 
 62,793 40 
 
 64,258 71 
 
 65,763 45 
 
 40 00 
 
 62,600 00 
 
 7o,i33 17 
 
 71,763 88 
 
 73,438 52 
 
 75,158 23 
 
 45 
 
 70,425 00 
 
 78,899 82 
 
 8o,734 37 
 
 82,618 34 
 
 84,533 01 
 
 50 00 
 
 78,250 00 
 
 87,666 46 
 
 89,704 86 
 
 91,798 15 
 
 93,947 79 
 
266 
 
 How to make Money make Money, 
 
 Table 
 
 Showing the net amount of earnings of One Cent to Fifty Dol- 
 lars per day for Ten Years of 313 working days, without 
 interest, and with interest at 5, 6, 7, and 8 per cent, improved 
 each six months. 
 
 Savings 
 per day. 
 
 Without 
 interest. 
 
 With interest 
 
 at 5 
 
 per cent. 
 
 With interest 
 
 at 6 
 
 per cent. 
 
 With interest 
 
 at 7 
 
 per cent. 
 
 With interest 
 
 at 8 
 
 per cent. 
 
 I 
 
 $31 13 
 
 $39 98 
 
 $42 05 
 
 $44 26 
 
 $46 60 
 
 2 
 
 62 26 
 
 79 95 
 
 84 IO 
 
 88 52 
 
 93 21 
 
 3 
 
 93 39 
 
 119 93 
 
 126 16 
 
 132 77 
 
 139 81 
 
 4 
 
 124 52 
 
 159 91 
 
 l68 21 
 
 177 03 
 
 186 41 
 
 5 
 
 156 50 
 
 199 89 
 
 2IO 26 
 
 222 29 
 
 233 01 
 
 6 
 
 187 80 
 
 239 86 
 
 252 31 
 
 265 56 
 
 279 62 
 
 7 
 
 219 10 
 
 279 84 
 
 294 36 
 
 309 80 
 
 326 22 
 
 8 
 
 250 40 
 
 319 82 
 
 336 52 
 
 354 06 
 
 372 82 
 
 9 
 
 281 70 
 
 369 80 
 
 378 47 
 
 398 22 
 
 419 42 
 
 10 
 
 313 00 
 
 399 77 
 
 420 52 
 
 442 58 
 
 466 03 
 
 15 
 
 469 50 
 
 599 66 
 
 630 78 
 
 666 87 
 
 699 04 
 
 20 
 
 626 00 
 
 799 95 
 
 841 04 
 
 885 15 
 
 932 05 
 
 25 
 
 782 50 
 
 999 43 
 
 1,051 30 
 
 1, in 44 
 
 1,165 7 
 
 30 
 
 939 
 
 1,199 32 
 
 1,261 56 
 
 1,327 73 
 
 1,398 08 
 
 40 
 
 1,252 00 
 
 1,599 10 
 
 1,682 09 
 
 1,770 31 
 
 1,864 11 
 
 50 
 
 1,565 00 
 
 1,998 87 
 
 2,102 61 
 
 2,212 89 
 
 2,330 ;3 
 
 60 
 
 1,878 00 
 
 2,398 64 
 
 2,523 13 
 
 2,655 46 
 
 2,796 16 
 
 70 
 
 2,191 00 
 
 2,798 42 
 
 2,943 65 
 
 3,098 04 
 
 3,262 19 
 
 80 
 
 2,504 00 
 
 3,198 19 
 
 3,364 17 
 
 3,540 62 
 
 3,728 22 
 
 90 
 
 2,817 00 
 
 3,599 97 
 
 3,784 69 
 
 3,982 19 
 
 4,194 24 
 
 $1 00 
 
 3,130 00 
 
 3,997 74 
 
 4,205 21 
 
 4,425 77 
 
 4,660 27 
 
 2 00 
 
 6,260 00 
 
 7,995 48 
 
 8,410 43 
 
 8,851 54 
 
 9,320 54 
 
 3 00 
 
 9,390 00 
 
 11,993 22 
 
 12,615 64 
 
 13^77 31 
 
 13,980 81 
 
 4 00 
 
 12,520 00 
 
 15,990 96 
 
 16,820 85 
 
 17,703 08 
 
 18,641 08 
 
 5 00 
 
 15,650 00 
 
 19,998 69 
 
 21,026 07 
 
 22.228 85 
 
 23,301 35 
 
 6 00 
 
 18,750 00 
 
 23,986 43 
 
 25,251 28 
 
 26,554 32 
 
 27,961 62 
 
 7 00 
 
 21,910 00 
 
 27,984 17 
 
 29,436 50 
 
 30,980 39 
 
 32,621 89 
 
 8 00 
 
 25,040 00 
 
 31,982 91 
 
 33,642 71 
 
 35,406 16 
 
 37,282 14 
 
 9 00 
 
 28,170 00 
 
 35,979 65 
 
 37,846 92 
 
 39,82i 93 
 
 41,942 42 
 
 10 00 
 
 31,300 00 
 
 39,977 39 
 
 42,052 14 
 
 44,257 7o 
 
 46,602 69 
 
 15 00 
 
 46,950 00 
 
 59,956 08 
 
 63,078 20 
 
 66,668 55 
 
 69,904 04 
 
 20 00 
 
 62,600 00 
 
 79,954 78 
 
 84,104 27 
 
 88,515 40 
 
 93,205 39 
 
 25 00 
 
 78,250 00 
 
 99,943 47 
 
 105,030 00 
 
 111,144 00 
 
 116,507 00 
 
 30 00 
 
 93,900 00 
 
 119,932 00 
 
 126,156 00 
 
 132,773 00 
 
 139,808 DO 
 
 35 00 
 
 109,550 00 
 
 139,920 00 
 
 147,182 00 
 
 154,902 00 
 
 163,109 OO 
 
 40 00 
 
 125,200 00 
 
 159,909 00 
 
 168,209 00 
 
 177,031 00 
 
 186,411 OO 
 
 45 00 
 
 140,850 00 
 
 179,898 00 
 
 189,235 00 
 
 199,120 00 
 
 209,712 OO 
 
 50 00 
 
 156,500 00 
 
 199,887 00 
 
 210,261 00 
 
 122,289 00 
 
 233,013 00 
 
And tiuw to Keep it. 
 
 267 
 
 Table 
 
 Showing the net amount of earnings of One Cent to Fifty Dol- 
 lars per day for Fifteen Years of 313 working days, with- 
 out interest, and with interest at 5, 6, 7, and 8 per cent, 
 improved each six months. 
 
 Savings 
 per day. 
 
 Without 
 Interest. 
 
 With Interest 
 
 at 5 
 
 per cent 
 
 With Interest 
 
 at 6 
 
 per cent. 
 
 With Interest 
 
 at 7 
 
 per cent. 
 
 With Interest 
 
 at 8 
 
 per cent. 
 
 I 
 
 $47 
 
 $69 
 
 $74 
 
 $81 
 
 $88 
 
 2 
 
 94 
 
 137 
 
 149 
 
 l62 
 
 178 
 
 3 
 
 141 
 
 206 
 
 223 
 
 242 
 
 263 
 
 4 
 
 188 
 
 275 
 
 298 
 
 323 
 
 35i 
 
 5 
 
 235 
 
 344 
 
 372 
 
 404 
 
 439 
 
 6 
 
 282 
 
 412 
 
 447 
 
 485 
 
 527 
 
 7 
 
 329 
 
 481 
 
 521 
 
 565 
 
 614 
 
 8 
 
 376 
 
 55o 
 
 596 
 
 646 
 
 702 
 
 9 
 
 423 
 
 618 
 
 670 
 
 727 
 
 790 
 
 10 
 
 470 
 
 687 
 
 745 
 
 808 
 
 878 
 
 15 
 
 704 
 
 1,031 
 
 1,117 
 
 1,212 
 
 i,3i7 
 
 20 
 
 939 
 
 i,374 
 
 1,489 
 
 I,6l6 
 
 i,755 
 
 25 
 
 i,i74 
 
 1,718 
 
 1,861 
 
 2,Ol8 
 
 2,194 
 
 30 
 
 1,409 
 
 2,061 
 
 2,234 
 
 2,424 
 
 2,633 
 
 40 
 
 1,878 
 
 2,748 
 
 2,978 
 
 3,232 
 
 3,5n 
 
 50 
 
 2,348 
 
 3,435 
 
 3,727 
 
 4,039 
 
 4,389 
 
 60 
 
 2,817 
 
 4,122 
 
 4,467 
 
 4,847 
 
 5,266 
 
 70 
 
 3,227 
 
 4,810 
 
 5,212 
 
 5,655 
 
 6,144 
 
 80 
 
 3,756 
 
 5,497 
 
 5,956 
 
 6,463 
 
 7,022 
 
 90 
 
 4,226 
 
 6,184 
 
 6,701 
 
 7,271 
 
 7,900 
 
 $1 00 
 
 4,695 
 
 6,871 
 
 7,446 
 
 8,079 
 
 8,777 
 
 2 00 
 
 9,39o 
 
 13,742 
 
 14,891 
 
 l6,l6o 
 
 17,555 
 
 3 
 
 14,085 
 
 20,612 
 
 22,337 
 
 24,237 
 
 26,332 
 
 4 00 
 
 18,785 
 
 27,483 
 
 29,782 
 
 32,316 
 
 35, I0 9 
 
 5 00 
 
 23,475 
 
 34,354 
 
 37,228 
 
 40,395 
 
 43,886 
 
 6 00 
 
 28,170 
 
 41,225 
 
 44,673 
 
 48,474 
 
 52,664 
 
 7 00 
 
 32,865 
 
 48,095 
 
 52,119 
 
 56,550 
 
 6i,44i 
 
 8 00 
 
 37,56o 
 
 54,966 
 
 59,564 
 
 64,633 
 
 70,218 
 
 9 00 
 
 42,255 
 
 61,837 
 
 67,060 
 
 72,716 
 
 78,996 
 
 10 00 
 
 46,950 
 
 68,708 
 
 74,456 
 
 80,789 
 
 S7,773 
 
 15 00 
 
 70,425 
 
 103,162 
 
 111,683 
 
 I2I,l84 
 
 131,659 
 
 20 00 
 
 93,900 
 
 137.415 
 
 148,911 
 
 l6l,600 
 
 175,546 
 
 25 00 
 
 H7,375 
 
 171,769 
 
 186,139 
 
 201,974 
 
 219,432 
 
 30 00 
 
 140,850 
 
 206,123 
 
 223,367 
 
 242,368 
 
 263,319 
 
 35 00 
 
 164,325 
 
 240,477 
 
 260,594 
 
 282,748 
 
 307,205 
 
 40 00 
 
 187,800 
 
 274-830 
 
 297,822 
 
 323*158 
 
 35i,o9 2 
 
 45 00 
 
 211,275 
 
 309,185 
 
 335,o5o 
 
 363,553 
 
 394,978 
 
 50 00 
 
 234,75o 
 
 343,539 
 
 372,278 
 
 409,947 
 
 438,865 
 
How to make Money make Money, 
 
 Table 
 
 Showing the net amount of earnings of One Cent to Fifty Dol 
 lars per day for Twenty Years of 313 working days, with- 
 out interest, and with interest at 5, 6, 7, and 8 per cent. ; 
 improved each six months. 
 
 Savings 
 
 Without 
 
 With Interest 
 
 With Interest 
 
 With Interest 
 
 With Interest 
 
 per day. 
 
 Interest. 
 
 at 5 
 
 at 6 
 
 at 7 
 
 at 8 
 
 
 
 per cent. 
 
 per cent. 
 
 per cent. 
 
 per cent. 
 
 I 
 
 $63 
 
 $105 
 
 $118 
 
 $132 
 
 $149 
 
 2 
 
 126 
 
 211 
 
 236 
 
 265 
 
 297 
 
 3 
 
 189 
 
 316 
 
 354 
 
 397 
 
 446 
 
 4 
 
 252 
 
 422 
 
 472 
 
 529 
 
 595 
 
 5 
 
 313 
 
 527 
 
 59o 
 
 662 
 
 744 
 
 6 
 
 376 
 
 633 
 
 708 
 
 794 
 
 892 
 
 7 
 
 438 
 
 738 
 
 826 
 
 926 
 
 1,041 
 
 8 
 
 50I 
 
 844 
 
 944 
 
 1,059 
 
 1,190 
 
 9 
 
 563 
 
 949 
 
 1,062 
 
 1,191 
 
 i,338 
 
 10 
 
 626 
 
 1,055 
 
 1,180 
 
 1,323 
 
 1,487 
 
 15 
 
 939 
 
 1,582 
 
 1,770 
 
 1,985 
 
 2,231 
 
 20 
 
 1,252 
 
 2,110 
 
 2,360 
 
 2,646 
 
 2,974 
 
 25 
 
 1,565 
 
 2,637 
 
 2,950 
 
 3,3o8 
 
 3,7i8 
 
 30 
 
 1,878 
 
 3,165 
 
 3,54o 
 
 3,97o 
 
 4,461 
 
 40 
 
 2,504 
 
 4,219 
 
 4,720 
 
 5,293 
 
 5,949 
 
 1 
 
 3,130 
 
 5,274 
 
 5,9oo 
 
 6,616 
 
 7,436 
 
 60 
 
 3,756 
 
 6,329 
 
 7,081 
 
 7,939 
 
 8,923 
 
 70 
 
 4,382 
 
 7,384 
 
 8,260 
 
 9,262 
 
 10,410 
 
 80 
 
 5,008 
 
 8,439 
 
 9,440 
 
 10,586 
 
 11,897 
 
 90 
 
 5,634 ' 
 
 9,494 
 
 10,620 
 
 11,909 
 
 13,384 
 
 $1 00 
 
 6,260 
 
 10,969 
 
 11,800 
 
 13,232 
 
 14,872 
 
 2 00 
 
 12,520 
 
 21,097 
 
 23,601 
 
 26,464 
 
 29,744 
 
 3 00 
 
 25,040 
 
 31,646 
 
 35,4oi 
 
 39,696 
 
 44,614 
 
 4 00 
 
 25,040 
 
 42,194 
 
 47,201 
 
 52,928 
 
 59,886 
 
 5 00 
 
 31,300 
 
 52,743 
 
 59,001 
 
 66,161 
 
 74,357 
 
 6 00 
 
 37,56o 
 
 63,291 
 
 70,802 
 
 97,393 
 
 89,229 
 
 7 00 
 
 43,820 
 
 73,839 
 
 82,602 
 
 92,625 
 
 104,100 
 
 8 00 
 
 50,080 
 
 84,388 
 
 94,402 
 
 105,857 
 
 118.972 
 
 9 00 
 
 56,340 
 
 94,936 
 
 106,203 
 
 119,089 
 
 133,843 
 
 10 00 
 
 62,600 
 
 105,485 
 
 118,003 
 
 132,321 
 
 148,715 
 
 15 00 
 
 93,900 
 
 158,227 
 
 177,004 
 
 197,482 
 
 223,072 
 
 20 00 
 
 125,250 
 
 210,970 
 
 236,006 
 
 264,642 
 
 297,440 
 
 25 00 
 
 156,500 
 
 263,712 
 
 295,007 
 
 330,803 
 
 371,787 
 
 30 00 
 
 187,800 
 
 3i6,455 
 
 354,049 
 
 396,964 
 
 446,141 
 
 32 00 
 
 219,100 
 
 369,197 
 
 314,010 
 
 463,124 
 
 520,502 
 
 40 00 
 
 250,400 
 
 421,940 
 
 472,012 
 
 529,285 
 
 594,860 
 
 45 00 
 
 281,700 
 
 474,682 
 
 53i,oi3 
 
 595,445 
 
 669,217 
 
 50 00 
 
 313,000 
 
 527,425 
 
 590,015 
 
 661,606 
 
 743,575 
 
And how to Keep it. 
 
 269 
 
 Table 
 
 Showing the net amount of earnings of One Cent to Fifty Dol* 
 lars per day for Twenty five Years of 313 working days, 
 without interest, and with interest at 5, 6, 7, and 8 per cent, 
 improved each six 7-nonths. 
 
 Savings 
 per day. 
 
 Without 
 Interest. 
 
 With Interest 
 
 at 5 
 
 per cent. 
 
 With Interest 
 
 at 6 
 
 per cent. 
 
 With Interest 
 
 at 7 
 
 per cent. 
 
 With Interest 
 
 at 8 
 
 per cent. 
 
 I 
 
 $78 
 
 $153 
 
 $m 
 
 $205 
 
 $239 
 
 2 
 
 I56 
 
 305 
 
 353 
 
 4IO' 
 
 478 
 
 3 
 
 234 
 
 458 
 
 530 
 
 615 
 
 717 
 
 4 
 
 312 
 
 6lO 
 
 706 
 
 820 
 
 956 
 
 5 
 
 391 
 
 763 
 
 883 
 
 1,025 
 
 1,195 
 
 6 
 
 469 
 
 915 
 
 1,059 
 
 1,230 
 
 1,434 
 
 7 
 
 548 
 
 1,068 
 
 1,256 
 
 i,435 
 
 1,672 
 
 8 
 
 626 
 
 1,220 
 
 1,412 
 
 1,640 
 
 1,911 
 
 9 
 
 704 
 
 i,373 
 
 1,589 
 
 1,845 
 
 2,H5 
 
 10 
 
 782 
 
 1,526 
 
 1,765 
 
 2,050 
 
 2,389 
 
 15 
 
 1,174 
 
 2,288 
 
 2,648 
 
 3,o75 
 
 3,584 
 
 20 
 
 1,565 
 
 3,051 
 
 3,531 
 
 4,100 
 
 4,776 
 
 25 
 
 1,956 
 
 3,8i4 
 
 4,413 
 
 5,125 
 
 5,973 
 
 30 
 
 2,348 
 
 4,577 
 
 5,296 
 
 6,150 
 
 7,168 
 
 40 
 
 3,130 
 
 6,103 
 
 7,061 
 
 8,200 
 
 9,557 
 
 5o 
 
 3,9U 
 
 7,628 
 
 8,826 
 
 10,251 
 
 11,946 
 
 60 
 
 4,695 
 
 9,i54 
 
 10,592 
 
 12,301 
 
 H,335 
 
 7o 
 
 5,477 
 
 10,679 
 
 12,257 
 
 H,35o 
 
 16,725 
 
 80 
 
 6,260 
 
 11,205 
 
 14,122 
 
 16,401 
 
 19,114 
 
 90 
 
 7,043 
 
 I3,73i 
 
 15,887 
 
 18,451 
 
 21,446 
 
 1 00 
 
 7,825 
 
 15,256 
 
 17,653 
 
 20,501 
 
 23,892 
 
 2 00 
 
 15,650 
 
 3o,5i3 
 
 35,305 
 
 41,002 
 
 47,785 
 
 3 00 
 
 23,475 
 
 45,769 
 
 52,958 
 
 61,504 
 
 7i,6/7 
 
 4 00 
 
 31,400 
 
 61,025 
 
 70,611 
 
 82,005 
 
 95,57o 
 
 5 00 
 
 39,125 
 
 76,282 
 
 88,264 
 
 102,506 
 
 119,462 
 
 6 00 
 
 46,950 
 
 9i,538 
 
 105,916 
 
 123,007 
 
 H3,354 
 
 7 00 
 
 54,775 
 
 106,794 
 
 125,569 
 
 H3,5oi 
 
 167,247 
 
 8 00 
 
 62,600 
 
 122,050 
 
 141,221 
 
 164,009 
 
 I9i,i39 
 
 9 00 
 
 70,425 
 
 137,307 
 
 158,874 
 
 184,511 
 
 214,462 
 
 10 00 
 
 78,250 
 
 152,563 
 
 176,527 
 
 205,012 
 
 238,924 
 
 15 00 
 
 H7,375 
 
 228,845 
 
 264,791 
 
 307,518 
 
 358,386 
 
 20 00 
 
 156,500 
 
 305,126 
 
 353.054 
 
 410,023 
 
 477,848 
 
 25 00 
 
 195,625 
 
 381,408 
 
 441,318 
 
 512,549 
 
 597,3 JO 
 
 30 00 
 
 234,75o 
 
 457,689 
 
 529,581 
 
 615,035 
 
 716,772 
 
 35 00 
 
 273,875 
 
 533,976 
 
 612,845 
 
 717,506 
 
 836,734 
 
 \o 00 
 
 313,000 
 
 610,252 
 
 706,108 
 
 820,047 
 
 945,696 
 
 *5 o 
 
 352,125 
 
 686,534 
 
 794,372 
 
 922,553 
 
 1,072,308 
 
 50 00 
 
 391,250 
 
 762,815 
 
 882,635 
 
 1,025,059 
 
 1,194,620 
 
270 
 
 How to make Money make Money, 
 
 Table 
 
 Showing the net amount of earnings of One Cent to Fifty Dol- 
 lars per day for Thirty Years of 313 working days, without 
 interest, and with interest at 5, 6, 7, and 8 per cent, improved 
 each six months. 
 
 Savings 
 per day. 
 
 Without 
 Interest. 
 
 With Interest 
 
 at 5 
 
 per cent. 
 
 With Interest 
 
 at 6 
 
 per cent. 
 
 With Interest 
 
 at 7 
 
 per cent. 
 
 With Interest 
 
 at 8 
 
 per cent. 
 
 I 
 
 $94 
 
 $213 
 
 $255 
 
 $308 
 
 $372 
 
 2 
 
 288 
 
 425 
 
 5IO 
 
 615 
 
 745 
 
 3 
 
 282 
 
 638 
 
 756 
 
 923 
 
 1,117 
 
 4 
 
 376 
 
 85I 
 
 1,021 
 
 1,230 
 
 1,490 
 
 5 
 
 470 
 
 1,064 
 
 1,276 
 
 1,538 
 
 1,862 
 
 6 
 
 563 
 
 1,277 
 
 1,531 
 
 1,845 
 
 2,235 
 
 7 
 
 657 
 
 1,490 
 
 1,786 
 
 2,153 
 
 2,606 
 
 8 
 
 75i 
 
 1,703 
 
 2,041 
 
 2,460 
 
 2,980 
 
 9 
 
 845 
 
 1,915 
 
 2,297 
 
 2,768 
 
 3,352 
 
 10 
 
 939 
 
 2,128 
 
 2,552 
 
 2,956 
 
 3,725 
 
 15 
 
 1,409 
 
 3,192 
 
 3,828 
 
 4,613 
 
 5,587 
 
 20 
 
 1,878 
 
 4,257 
 
 5,104 
 
 6,151 
 
 7,449 
 
 25 
 
 2,348 
 
 5,321 
 
 6,329 
 
 7,689 
 
 9,3H 
 
 30 
 
 2,817 
 
 6,385 
 
 7,555 
 
 9,226 
 
 n,i74 
 
 40 
 
 3,756 
 
 8,513 
 
 10,207 
 
 12,302 
 
 14,898 
 
 50 
 
 4.695 
 
 10,641 
 
 12,759 
 
 15-377 
 
 18,628 
 
 60 
 
 5,'634 
 
 12,770 
 
 i5,3n 
 
 18,453 
 
 22,347 
 
 70 
 
 6,573 
 
 14,898 
 
 17,863 
 
 21,528 
 
 26,062 
 
 80 
 
 7,5i2 
 
 17,026 
 
 20,414 
 
 24,604 
 
 29,796 
 
 90 
 
 8,451 
 
 19,154 
 
 22,966 
 
 27,679 
 
 33,52i 
 
 $1 00 
 
 9,390 
 
 21,283 
 
 25,518 
 
 3o,755 
 
 37,246 
 
 2 00 
 
 18,780 
 
 42,565 
 
 51,036 
 
 61,509 
 
 74,49i 
 
 3 00 
 
 28,170 
 
 63,848 
 
 75,554 
 
 92,264 
 
 in,737 
 
 4 00 
 
 37,56o 
 
 85,131 
 
 102,071 
 
 123,018 
 
 148,982 
 
 5 00 
 
 46,950 
 
 106,413 
 
 127,589 
 
 153,773 
 
 186,228 
 
 6 00 
 
 56,340 
 
 127,696 
 
 153,107 
 
 184,528 
 
 223,473 
 
 7 00 
 
 65,730 
 
 148,979 
 
 178,625 
 
 215,284 
 
 260,619 
 
 8 00 
 
 75,120 
 
 I70,26l 
 
 204,142 
 
 246,036 
 
 277,764 
 
 9 00 
 
 84,510 
 
 191,544 
 
 229,661 
 
 276,791 
 
 335,2io 
 
 10 00 
 
 93,9oo 
 
 212,827 
 
 255,179 
 
 307,546 
 
 372,455 
 
 15 00 
 
 140,850 
 
 319,240 
 
 382,767 
 
 461,319 
 
 558,683 
 
 20 00 
 
 187,800 
 
 425,654 
 
 5io,357 
 
 615,092 
 
 744,911 
 
 25 00 
 
 234,750 
 
 532,067 
 
 639i947 
 
 768,865 
 
 93M38 
 
 30 00 
 
 281,700 
 
 638.481 
 
 755,536 
 
 922,638 
 
 1,177,366 
 
 35 00 
 
 322,650 
 
 744,894 
 
 893,125 
 
 1,076,420 
 
 1,303,094 
 
 40 00 
 
 375,6oo 
 
 851,307 
 
 1,020,715 
 
 1,230,184 
 
 1,489,822 
 
 45 
 
 422,550 
 
 957,721 
 
 1,148,304 
 
 i,383<957 
 
 2,676,04c; 
 
 50 00 
 
 469,500 
 
 1,030,546 
 
 1,231,134 
 
 1,478,183 
 
 1,783,127 
 
And how to Keep it. 
 
 271 
 
 Table 
 
 Showing the net amount of earnings of One Cent to Fifty Dol- 
 lars^- day for Forty Years of 313 working days, without 
 interest, and with interest at 5, 6, 7, and 8 per cent., improved 
 each six months. 
 
 Savings 
 per day. 
 
 Without 
 
 With Interest 
 
 With Interest 
 
 With Interest 
 
 With Interest 
 
 Interest 
 
 at 5 
 per cent. 
 
 at 6 
 per cent. 
 
 at 7 
 per cent. 
 
 at 8 
 per cent. 
 
 I 
 
 $125 
 
 $389 
 
 $503 
 
 $656 
 
 $863 
 
 2 
 
 250 
 
 777 
 
 1,006 
 
 1,312 
 
 1,728 
 
 3 
 
 375 
 
 1,166 
 
 1,509 
 
 1,969 
 
 2,588 
 
 4 
 
 500 
 
 i,555 
 
 2,012 
 
 2,625 
 
 3,451 
 
 5 
 
 704 
 
 1,944 
 
 2,515 
 
 3,28l 
 
 4,313 
 
 6 
 
 75i 
 
 2,333 
 
 3,018 
 
 3,937 
 
 5,176 
 
 7 
 
 876 
 
 2,721 
 
 3,521 
 
 4,594 
 
 6,039 
 
 8 
 
 1,002 
 
 3,no 
 
 4,023 
 
 5,250 
 
 6,902 
 
 9 
 
 1,127 
 
 3,498 
 
 4,526 
 
 5,9o6 
 
 7,764 
 
 10 
 
 1,409 
 
 3,887 
 
 5,029 
 
 6,562 
 
 8,627 
 
 15 
 
 1,878 
 
 5,831 
 
 7,544 
 
 9,843 
 
 12,940 
 
 20 
 
 2,504 
 
 7,774 
 
 10,059 
 
 13,124 
 
 17,254 
 
 25 
 
 3,i3o 
 
 9,7i8 
 
 12,573 
 
 16,405 
 
 21,567 
 
 30 
 
 3,756 
 
 11,662 
 
 15,088 
 
 19,686 
 
 25,881 
 
 40 
 
 5,008 
 
 15-549 
 
 20,117 
 
 26,248 
 
 34,508 
 
 5o 
 
 6,260 
 
 19,436 
 
 25,H7 
 
 32,810 
 
 43,135 
 
 60 
 
 7,5i 2 
 
 23,323 
 
 30,176 
 
 39,373 
 
 51,762 
 
 70 
 
 8,764 
 
 27,210 
 
 35,205 
 
 45,945 
 
 60,389 
 
 80 
 
 10,016 
 
 31,098 
 
 40,235 
 
 52,497 
 
 69,016 
 
 90 
 
 11,268 
 
 34,985 
 
 45,264 
 
 59,059 
 
 77,643 
 
 $1 00 
 
 12,520 
 
 38,872 
 
 50,293 
 
 65,621 
 
 86,270 
 
 2 00 
 
 25,040 
 
 77,744 
 
 100,587 
 
 131,242 
 
 I95,06l 
 
 3 00 
 
 37,56o 
 
 .116,616 
 
 150,880 
 
 196,863 
 
 258,809 
 
 -4 00 
 
 50,080 
 
 155,488 
 
 201,173 
 
 262,484 
 
 345,079 
 
 5 00 
 
 62,600 
 
 194,359 
 
 251,467 
 
 328,105 
 
 431,249 
 
 6 00 
 
 75,120 
 
 233,231 
 
 301,760 
 
 393,726 
 
 517,619 
 
 7 00 
 
 87.640 
 
 272,103 
 
 352,053 
 
 459,446 
 
 603,889 
 
 8 00 
 
 100 160 
 
 3io,975 
 
 402,646 
 
 524,967 
 
 690, 1 59 
 
 9 00 
 
 112,680 
 
 349,847 
 
 452,640 
 
 590,588 
 
 776,428 
 
 10 00 
 
 125,200 
 
 388,719 
 
 52,933 
 
 656,209 
 
 862,698 
 
 15 00 
 
 487,800 
 
 583,078 
 
 754,399 
 
 984,3H 
 
 1,294,047 
 
 20 00 
 
 250,400 
 
 777,438 
 
 1,005,866 
 
 1,312,418 
 
 1,725,397 
 
 25 00 
 
 313.000 
 
 971,797 
 
 1,257,333 
 
 1,640,523 
 
 2,156,746 
 
 30 00 
 
 375,6oo 
 
 1,116,157 
 
 1,508,799 
 
 1,968,628 
 
 2,588,095 
 
 35 00 
 
 138,200 
 
 1,360,516 
 
 1,760,266 
 
 2,297,232 
 
 3,019,444 
 
 40 00 
 
 500,800 
 
 1,554,876 
 
 2,011,732 
 
 2,624,837 
 
 3,450,793 
 
 45 00 
 
 563,400 
 
 1,749,235 
 
 2,263,199 
 
 2,452,942 
 
 3,882,142 
 
 50 00 
 
 626,000 
 
 1,943,595 
 
 2,514,666 
 
 3,281,046 
 
 4,313,49! 
 
 12 
 
272 
 
 How to make Money make Money, 
 
 Table 
 
 Showing the net amount of earnings of One Cent to Fifty Dol- 
 lars per day for Fifty Years of 313 working days, without 
 interest, and with interest at 5, 6, 7, and 8 per cent., improved 
 each six months. 
 
 Savings 
 per day. 
 
 Without 
 Interest 
 
 With Interest 
 
 at 5 
 
 per cent. 
 
 With Interest 
 
 at 6 
 
 per cent 
 
 With Interest 
 
 at 7 
 
 per cent. 
 
 With Interest 
 
 at 8 
 
 per cent. 
 
 I 
 
 $157 
 
 $677 
 
 $950 
 
 $1,350 
 
 $i,937 
 
 2 
 
 3H 
 
 i,354 
 
 1,901 
 
 2,700 
 
 3,874 
 
 3 
 
 471 
 
 2,031 
 
 2,851 
 
 4,050 
 
 5,811 
 
 4 
 
 628 
 
 2,708 
 
 3,802 
 
 5400 
 
 7,748 
 
 5 
 
 783 
 
 3,385 
 
 4,752 
 
 6,741 
 
 9,684 
 
 6 
 
 939 
 
 4,062 
 
 5,702 
 
 8,IOO 
 
 11,621 
 
 7 
 
 1,095 
 
 4,739 
 
 6,653 
 
 9,450 
 
 13,558 
 
 8 
 
 1,252 
 
 5,416 
 
 7,603 
 
 10,800 
 
 15,495 
 
 9 
 
 1,408 
 
 6,092 
 
 8,554 
 
 12,150 
 
 17,432 
 
 10 
 
 1,565 
 
 6,769 
 
 9,504 
 
 13,500 
 
 19,369 
 
 15 
 
 2,348 
 
 10,154 
 
 14,256 
 
 20^250 
 
 29,053 
 
 20 
 
 3,i3o 
 
 15,539 
 
 19,008 
 
 27,000 
 
 3^737 
 
 25 
 
 3,913 
 
 16,923 
 
 23,760 
 
 33,749 
 
 48,422 
 
 30 
 
 4,695 
 
 20,308 
 
 28,512 
 
 44,993 
 
 58,106 
 
 40 
 
 6,260 
 
 27,078 
 
 38,016 
 
 53,999 
 
 77,476 
 
 50 
 
 7,825 
 
 33,847 
 
 47,52o 
 
 67,499 
 
 96,843 
 
 60 
 
 9,39 
 
 40,616 
 
 57,024 
 
 89,999 
 
 116,212 
 
 70 
 
 io,955 
 
 47,386 
 
 66,528 
 
 94,988 
 
 i35,58i 
 
 80 
 
 12,520 
 
 54,155 
 
 76,032 
 
 197,998 
 
 154,949 
 
 90 
 
 14058 
 
 60,424 
 
 85,537 
 
 121,498 
 
 I74,3i8 
 
 $1 00 
 
 15,650 
 
 67,694 
 
 95,041 
 
 134,998 
 
 193,687 
 
 2 00 
 
 3 T ,3oo 
 
 135,388 
 
 190,081 
 
 269,995 
 
 387,373 
 
 3 
 
 46,950 
 
 203,082 
 
 285,122 
 
 404,993 
 
 581,060 
 
 4 00 
 
 62,600 
 
 27o,775 
 
 380,162 
 
 539,990 
 
 774,756 
 
 5 00 
 
 78,250 
 
 388,469 
 
 475,203 
 
 674,988 
 
 968,433 
 
 6 00 
 
 93,900 
 
 406,-163 
 
 570,984 
 
 809,985 
 
 1,162,119 
 
 7 00 
 
 109,550 
 
 473,857 
 
 665,284 
 
 944,983 
 
 1,355,806 
 
 8 00 
 
 125,200 
 
 54i,55i 
 
 760,325 
 
 1,079,980 
 
 1,549,493 
 
 9 00 
 
 140,850 
 
 609,245 
 
 855,365 
 
 1,214978 
 
 i,743J79 
 
 10 00 
 
 156,500 
 
 676,939 
 
 950,406 
 
 1,349,976 
 
 1,936,866 
 
 15 00 
 
 234,75o 
 
 1,015,407 
 
 1,425,606 
 
 2,024,963 
 
 2,905,299 
 
 20 00 
 
 313,000 
 
 1,353,877 
 
 1,900,812 
 
 2,699,951 
 
 3,873,732 
 
 25 00 
 
 391,250 
 
 1,692,347 
 
 2,376,015 
 
 3,374,939 
 
 4,842,165 
 
 30 00 
 
 469,500 
 
 2,030,816 
 
 2, 51,218 
 
 4,o49,927 
 
 5,810,598 
 
 35 00 
 
 447,750 
 
 2,369,285 
 
 3,326,412 
 
 4,724,924 
 
 6,779,o3i 
 
 40 00 
 
 626,000 
 
 2,707,755 
 
 3,801,624 
 
 5,399,902 
 
 7,747,564 
 
 45 
 
 704,250 
 
 3,046,224 
 
 4,276,827 
 
 6,074,890 
 
 8,715,897 
 
 50 00 
 
 782,500 
 
 3,334,693 
 
 4,752,030 
 
 6,749,878 
 
 9,684,330 
 
And how to Keep it. 273 
 
 CHAPTER XXII. 
 
 BANKING AND INSURANCE. 
 
 Banks of discount. Making money with money. Distin6l trade. 
 Banking successful. Why. Compared with traders. Ma- 
 chinery of money-making. Mint. Comparison. Must know 
 how. Process of banking. Note done. Lesson. Trained 
 business men. Dividends. General principles. Popularity 
 of officers. Indiscreet Teller. Money lost. Treatment of 
 customers. Savings banks. How organized. Charitable and 
 useful device. Mode of doing business.-- Valuable to depositors. 
 Influence on people. Makes respectability. New world. 
 Gains suitors. Compound interest tables. Uses. Examples. 
 Insurance. Different kinds. Money-making. Like banking. 
 Cannot afford to lose. Winning on marine. Property insured. 
 Look out. See to your agreement. Read it over. Make in- 
 quiries. Down to the ground. Save on a loss. Money 
 lost. Look to the obligation. Study your men. Friends. 
 Chaffer on paying. General Principles. Sound judgment. 
 Honest intent pays well. 
 
 Banking is of three kinds the banks of discount and 
 deposit, Savings Banks, and individual or private Banks. 
 All of them have but one object, and that is to make 
 money with money. This is an all-important principle for 
 the money-maker ; and to know how this is done accom- 
 plishes a great object. It is not to be presumed, here, 
 to give such institutions or individuals any information 
 how this is to be done ; for their success, generally, is a 
 proof that they understand that. Further than that, it 
 is an occupation, and it may be called a trade within 
 itself, requiring long experience, extensive knowledge of 
 
274 How to make Money make Money, 
 
 values, good judgment, great firmness ; and, in fact, every 
 business qualification in its highest perfection. By refer- 
 ring to banking as one of the most extensive means of 
 making money with money, is simply to show the money- 
 maker, after he has got his dollar, how others manage 
 other dollars to advantage, so that he may know the dan- 
 ger of managing his with his trifling information a sub- 
 ject: that requires such superior knowledge and acquire- 
 ments to do well. 
 
 There are no statistics at hand that will directly com- 
 pare any other trade or business with banking, in the 
 way of success. It is presumed, however, that it may 
 be safely laid down that there are not five per cent, of 
 failures in regular banking business, when there is ninety 
 or ninety-five per cent, of failures in commercial business. 
 Both deal in the same things, the one in the articles them- 
 selves, the other by their representation in paper. Now 
 this fact is sufficient to awaken the mind of the merchant 
 or trader to an investigation of the manner in which Banks 
 handle their values ; what they do, how they do it, when 
 they do it, and how they succeed, while I lose and fail. 
 And now, Mr. Trader, or Merchant, if you are sufficiently 
 awake to this fact to make the investigation, and profit 
 by it, you have done the best day's work you ever did in 
 your life. But the chances are, you will say, " Poh ! a 
 Bank is one thing, and a mercantile business is another." 
 And let me say, you say the truth, as both are conducted 
 at the present day. The result, however, is that one is a 
 success, while the other is a failure. 
 
 It will be interesting to the trader to look at the sta- 
 tistics on page 88, and read, that a bank in Boston had 
 occasion to look back to their accounts, and the result 
 was, that " of the one thousand accounts which were 
 
And how to Keep it, 275 
 
 opened with them in starting, only six remained. They 
 had, in forty years, either failed or died destitute of pro- 
 perty!' The bank stood, while nine hundred and ninety- 
 four traders, out of the thousand, had gone down. 
 
 But, it is not alone the trader who is interested in this 
 question ; it is every one who has made his dollar, or 
 who is in the way of making it, who is interested in 
 knowing what machinery is used in banking, whereby 
 money is made out of money ; and further than that, to 
 know that it requires machinery of a peculiarly delicate 
 nature, well-managed, to accomplish the object at least 
 in this special way of making money with money. Half 
 the people who have labored for their dollar do not know 
 that such machinery can have the least bearing upon 
 what they have made ; that to put their dollar through 
 this machinery, or a process like it, that it will come out 
 one increased in value. The trouble being that they 
 generally put it into a machine where it never comes out 
 at all, and hence they never see the dollar, or its increase. 
 
 Can the machinery of a mint be made by a novice ? or 
 can it be worked by one entirely ignorant of its con- 
 struction ? Just as well might the man undertake to 
 increase his dollar without the necessary knowledge of 
 the required, machinery, as to make a metallic dollar 
 without knowing how it should be made, and a knowledge 
 of how to make it. This trade of increasing the dollar 
 by making the dollar work is not caught up by inspira- 
 tion, or acquired in an instant ; and he who has a dollar 
 to set at work, must know well how it is to be done, or 
 he must find it in a machine that is known to do this 
 kind of work well, or loss of it is the inevitable conse- 
 quence. Hence the long list of failures and wide-spread 
 poverty among our most worthy and energetic men, not 
 
276 How to make Money make Money, 
 
 to accomplish, to earn, or even to amass, but to save, 
 because their dollar goes into the wrong-machine. 
 
 The process of banking is the machinery required to 
 make money with money. Then what is this process ? 
 In the Banks of discount and deposit, a number of indi- 
 viduals generally put in a certain amount of money, and 
 that is represented by stock. The stockholders assem- 
 ble and elect a number of directors, and they elect; a 
 superintendent, generally called a President, and a Cash- 
 ier. People deposit their money for safe keeping, and for 
 convenience, and the original money put in by the stock- 
 holders, with the deposits, make a capital to purchase 
 moneyed securities with generally notes of hand, which 
 represent property of some kind. The bank is then 
 ready to do business, as it is called ; that is, to put out 
 their money on short dates for an increase. Up to this 
 point, the whole matter is very simple, and any one could 
 do it. But now comes the tug of war whether it shall 
 be success or failure, even in this business. 
 
 The merchant comes in with a note taken for goods 
 sold, and says to the Cashier ; " I wish you would give 
 me the money on this." The answer is : "I will hand it 
 to the President, and give you an answer." The Presi- 
 dent lays the paper before the Board of Directors, and if 
 the paper is strongly endorsed, or has enough collateral 
 to make the loan petfectly safe, the note is " done " as it is 
 called, and the merchant gets the money on it. Now, 
 Mr. Merchant, or Mr. Trader, or Mr. anybody else who 
 has a dollar to set at work, do you see anything in this 
 that attracts your attention ? When you take a note, or 
 part with property or money, do you do anything like 
 this ? Do you submit your transactions for approval to 
 two sharp, experienced business men, who, not relying 
 
And hozv to Keep it. 277 
 
 upon their own judgment, summon to their aid ten or 
 twelve other first-class business men, to decide upon the 
 security offered ? Remember that in the first place, they 
 require at least two good strong names to start with, or 
 collateral security, and then that the time of payment is 
 very short from thirty to ninety days. 
 
 Sometimes, even with these precautions a bank loses, 
 but not very often. By having two names and the time 
 of payment short, one or the other will as a rule prove 
 good. There is no business transaction which has not 
 some risk, the only main question being to reduce that 
 risk as low as possible by every conceivable precaution. 
 In this transaction of taking a note, possibly of $500, 
 twelve to fourteen highly and long trained business men 
 consult as to the value of the security to be taken, and 
 every one interested in a money point of view in the 
 result. An individual, therefore, who has a security to 
 take can consult no one else who has a like interest with 
 him. Such investments, are generally made by referen- 
 ces to individuals who have no interest with the one who 
 parts with his property, but whose interest, as a general 
 rule, is to have you part with your property, that they 
 may get pay for the property they have parted with. 
 
 Do you think a Bank would part with their money on 
 such terms, or on such representations ? If they did 
 every one knows what would be the result. Do you 
 wonder then, reader, that traders fail on such a system 
 of credits, or that Banks succeed by such care, caution, 
 and scrutinizing discrimination ? The Banks declare and 
 divide their earnings to the stockholders, who make new 
 investments in like manner, while the trader makes no 
 dividends, puts nothing away to the good, but keeps all 
 his eggs in one basket subject to the vicissitudes of 
 
278 How to make Money make Money, 
 
 trade. Does the ordinary dealer see nothing in the 
 adverse principles which will open his eyes to a system 
 of business which all experience has shown but leads to 
 disaster ? 
 
 Banks of discount and deposit are useful, as a means of 
 making money with money, to those who have compara- 
 tively large sums to set at work in this way. But there 
 is a class of Banks called Savings Banks, where any one 
 can in like manner set at work any sum of money, from 
 one cent upward. But the amount of profit derived is 
 not so great, generally, as in the Banks of discount and 
 deposit. The Savings Banks will be treated separately 
 hereafter, as being the most available and the best means 
 for those unacquainted with business to set their small 
 means to work with safety. 
 
 Although Banks present the nearest approach to 
 perfection in the interchange of values represented by 
 paper, there are certain general principles which will 
 increase these earnings. These may be briefly stated 
 to be 
 
 First. The business qualifications of its officers. 
 
 Second. The judicious selections of its credit. 
 
 Third. The current expenses. 
 
 Fourth. General reputation. 
 
 The personal popularity of the officers of a Bank, and 
 the manner in which customers or depositors are treated, 
 either loses or wins money for the concern ; the same 
 general rules of polite intercourse holding in those cases 
 as in transactions between merchants, or merchants and 
 consumers. No shrewd business man will ever neglect 
 this principle, whether he is in a Bank or in any other 
 business where his profits depend upon people who have 
 a choice, and can give their money to one or to another. 
 
 
And hoiv to Keep it. 279 
 
 If a dealer goes into a Bank to get his own money, 
 and an indiscreet teller makes him wait whhe he has an 
 agreeable chat with his fellow-clerk, or to add up a 
 column of figures as long as a man's arm, which he 
 could just as well postpone, he is unfit for his place, and 
 is a damage to the Bank, and is money lost to it. For 
 say what you will, the dealer feels uncomfortable ; and, 
 instead of using his influence to aid that institution, he 
 will hold back, if he does not damage it in some way. 
 Instead of having an active friend, the Bank will have a 
 quasi one, if not an enemy ; and there is no telling 
 when his influence, by a word, may strike to its damage 
 or loss of money. Any other like neglect or careless- 
 ness on the part of a Bank Officer will tend to the same 
 result. 
 
 To be polite, attentive, pleasant, and agreeable to all, 
 while .business is done on business principles, will bring 
 dollars into the deposit-line, and keep them there. 
 They will make friends whose influence will be exerted 
 towards bringing new business and opening new avenues 
 of profit. They will light up an interest in the welfare 
 and prosperity of the institution that will stand sentinel 
 over its interests, and sound alarms in case of danger of 
 loss. They will infuse into its whole business a thrift 
 and general reputation, which will roll heavily in on the 
 deposit-line, and roll out heavily on the dividend. In 
 case of difficulty all will pay such an institution who can. 
 
 SAVINGS BANKS. 
 
 These are institutions organized and conducted by 
 men of knowledge and skill in financial matters, for the 
 sole benefit of persons who wish to save and improve 
 
 12* 
 
2 So How to make Money make Money, 
 
 small sums of money, who have no knowledge where or 
 how to place them to bring an interest, and at the same 
 time be subject to their call. The device is eminently 
 useful and truly charitable. The institution requires a 
 good building to do business in, and officers to transact it. 
 They take the deposits of money and invest in large 
 sums at a higher rate of interest than they pay to the 
 depositors, the difference going to pay current expenses. 
 The interest received is generally seven per cent., from 
 that to six per cent., and the interest paid is from five to 
 six per cent. 
 
 The Bank holds itself ready at all times to meet any 
 obligation on demand to the depositor. The advantages 
 resulting to the depositor is apparent, since he cannot 
 invest small sums safely in any other way. For the 
 depositor generally knows nothing of business financier- 
 ing, and it would be costly to get security by any other 
 means. Then other securities are not always convertible 
 into cash without some loss. 
 
 Too much cannot be said in favor of Savings Institu- 
 tions for the protection of earnings and as incentives to 
 economy. A sure and certain means by which in a few 
 years, as has been seen, an independence can be ob- 
 tained, and when obtained the money is within reach. 
 
 The money that the mechanic, day-laborer, house ser- 
 vant, or male or female operative spends in trifles which 
 neither add to their comfort or their happiness is a power- 
 ful stream of wealth, which, if poured into a Savings Insti- 
 tution, soon becomes a large amount of money. The first 
 dollar thus saved and anchored is the incentive to fur- 
 ther additions and the taste for economy, and a desire to 
 add will increase with each deposit. 
 
 Such an individual makes a conservative member of 
 
And how to Keep it. 281 
 
 society, and a good and prosperous citizen. If a man or 
 woman has made the first deposit in a bank for savings, 
 that moment their services are more valuable, and higher 
 wages can be obtained from their employers. It is a 
 guarantee an indorsement that their course of life is 
 governed by saving principles, and that they will not 
 destroy or waste the property of their employer. No 
 one, then, should fail to make their first deposit, and no 
 one should fail to drill themselves to strict principles of 
 economy. By economy is meant the leaving off of such 
 expenses as are not necessary either for comfort or for 
 respectability. It should also be remembered that such 
 a course of life commands respect, and elevates the indi- 
 vidual. Any one feels more independent, and carries 
 the evidence of it in his whole demeanor, when free of 
 debt, and has money at interest. If this should be dis- 
 puted by any one, let them try it ; and they will find, from 
 that moment, that they live in a new world. 
 
 A person, no matter what his walk in life, is more 
 looked up to by his peers if he is known to be free of 
 embarrassments, and has money at his command. The 
 principle extends to the serving-girl, to the housemaid, 
 and to all classes of persons. Let it be known that an 
 industrious young woman has some money in a Bank, and 
 has her book as the evidence, though the real contents 
 be forever unknown, the fact gives her consequence and 
 suitors too. No surer way for such a one to get a hus- 
 band, and a good one, than to be in the possession of 
 money of her own earnings in a Bank. 
 
 The compound interest tables are given, that any one 
 can determine the amount of earning of any sum from 
 one to one hundred years. The earnings are given 
 for one dollar ; and if it be desirable to find the earnings 
 
282 
 
 How to make Money make Money, 
 
 Table. Compound Interest. 
 
 Showing the Amount of $i improved at Compound Interest for any 
 number of years not exceeding ioo. 
 
 
 i 
 
 8 
 
 c 
 
 
 
 8 
 
 a 
 
 B 
 
 
 
 fl 
 
 fj 
 
 8 
 
 a 
 
 i 
 
 a 
 
 fl 
 
 i 
 
 Si 
 
 1 
 
 8 
 
 ft 
 
 
 
 ft 
 
 
 
 it 
 
 E 
 
 ft 
 
 
 
 
 8 
 
 B 
 
 
 
 
 < 
 
 8 
 
 
 
 
 
 
 
 
 
 
 
 1> 
 
 8 
 
 8 
 
 M 
 
 > 
 
 a 
 
 
 
 a 
 
 $ 
 
 ft 
 
 
 
 ft 
 
 * 
 
 ft 
 
 ft 
 
 ft 
 
 ft 
 
 M 
 
 
 N 
 
 
 m 
 
 
 r 
 
 * 
 
 10 
 
 vO 
 
 * 
 
 00 
 
 , 
 
 $1 01 
 
 $1 02 
 
 $1 02 
 
 $1 03 
 
 $1 03 
 
 $1 04 
 
 $1 04 
 
 $1 05 
 
 $1 05 
 
 $1 06 
 
 $107 
 
 *io8 
 
 2 
 
 1 02 
 
 I 03 
 
 I 04 
 
 1 05 
 
 1 06 
 
 1 07 
 
 1 08 
 
 1 09 
 
 1 10 
 
 I 12 
 
 1 14 
 
 1 17 
 
 3 
 
 1 03 
 
 I 05 
 
 I 06 
 
 1 08 
 
 1 09 
 
 1 11 
 
 1 12 
 
 1 14 
 
 1 16 
 
 I 19 
 
 1 23 
 
 1 26 
 
 4 
 
 1 04 
 
 I 06 
 
 I OS 
 
 1 10 
 
 I 13 
 
 1 15 
 
 1 17 
 
 1 19 
 
 1 22 
 
 I 26 
 
 1 31 
 
 1 36 
 
 5 
 
 1 05 
 
 I 08 
 
 I IO 
 
 1 13 
 
 I 16 
 
 1 19 
 
 1 22 
 
 1 25 
 
 1 28 
 
 1 34 
 
 1 40 
 
 1 47 
 
 6 
 
 1 06 
 
 I 09 
 
 I 13 
 
 1 i5 
 
 1 19 
 
 I 23 
 
 1 27 
 
 I 30 
 
 1 34 
 
 1 42 
 
 1 50 
 
 1 59 
 
 7 
 
 1 07 
 
 I II 
 
 I 15 
 
 1 19 
 
 1 23 
 
 1 27 
 
 1 32 
 
 1 36 
 
 1 41 
 
 1 5o 
 
 1 61 
 
 1 71 
 
 8 
 
 1 08 
 
 I 13 
 
 I 17 
 
 1 22 
 
 1 27 
 
 I 32 
 
 * 37 
 
 I 42 
 
 1 48 
 
 1 59 
 
 :s 
 
 1 85 
 
 9 
 
 1 09 
 
 I 14 
 
 I 20 
 
 1 25 
 
 1 30 
 
 1 36 
 
 1 42 
 
 1 49 
 
 1 55 
 
 1 69 
 
 2 00 
 
 IO 
 
 1 10 
 
 I 16 
 
 I 22 
 
 1 28 
 
 1 34 
 
 I 41 
 
 1 48 
 
 1 55 
 
 1 63 
 
 1 79 
 
 1 97 
 
 2 16 
 
 ii 
 
 1 12 
 
 I 18 
 
 I 24 
 
 1 3i 
 
 1 38 
 
 1 46 
 
 1 54 
 
 1 62 
 
 1 71 
 
 1 90 
 
 2 10 
 
 2 33 
 
 12 
 
 1 13 
 
 I 20 
 
 I 27 
 
 v 1 3 i 
 
 1 43 
 
 1 51 
 
 1 60 
 
 1 70 
 
 1 80 
 
 2 01 
 
 2 25 
 
 2 52 
 
 1.3 
 
 1 14 
 
 I 21 
 
 I 29 
 
 \l 38 
 
 1 47 
 
 I 56 
 
 1 67 
 
 1 77 
 
 1 89 
 
 2 13 
 
 2 41 
 
 2 72 
 
 14 
 
 1 15 
 
 I 23 
 
 I 32 
 
 I 41 
 
 1 5i 
 
 I 62 
 
 1 73 
 
 1 85 
 
 1 98 
 
 2 26 
 
 2 58 
 
 2 94 
 
 *5 
 
 1 16 
 
 I 25 
 
 1 35 
 
 1 45 
 
 1 56 
 
 1 68 
 
 1 80 
 
 1 94 
 
 2 08 
 
 2 40 
 
 2 76 
 
 3 17 
 
 16 
 
 1 17 
 
 I 27 
 
 1 37 
 
 1 48 
 
 1 60 
 
 1 73 
 
 1 87 
 
 2 02 
 
 2 18 
 
 2 54 
 
 2 95 
 
 3 43 
 
 17 
 
 1 18 
 
 I 29 
 
 1 40 
 
 1 52 
 
 1 65 
 
 1 79 
 
 * 95 
 
 2 11 
 
 2 29 
 
 2 69 
 
 3 16 
 
 3 70 
 
 18 
 
 1 20 
 
 I 31 
 
 1 43 
 
 1 56 
 
 1 70 
 
 1 86 
 
 2 03 
 
 2 21 
 
 2 41 
 
 2 85 
 
 3 38 
 
 4 00 
 
 19 
 
 1 21 
 
 1 33 
 
 1 46 
 
 1 60 
 
 1 75 
 
 1 92 
 
 2 11 
 
 2 31 
 
 2 53 
 
 3 03 
 
 3 62 
 
 4 32 
 
 20 
 
 i 22 
 
 1 35 
 
 1 49 
 
 1 64 
 
 1 81 
 
 1 99 
 
 2 19 
 
 2 41 
 
 2 65 
 
 3 21 
 
 3 87 
 
 466 
 
 21 
 
 1 23 
 
 1 37 
 
 1 52 
 
 1 68 
 
 1 86 
 
 2 06 
 
 2 28 
 
 2 52 
 
 2 79 
 
 3 40 
 
 4 14 
 
 5 3 
 
 22 
 
 1 24 
 
 1 39 
 
 1 55 
 
 1 72 
 
 1 92 
 
 2 13 
 
 2 37 
 
 2 63 
 
 2 93 
 
 3 60 
 
 4 43 
 
 5 44 
 
 23 
 
 1 26 
 
 1 41 
 
 1 58 
 
 1 76 
 
 1 97 
 
 2 21 
 
 246 
 
 2 75 
 
 3 07 
 
 3 82 
 
 4 74 
 
 587 
 
 24 
 
 1 27 
 
 1 43 
 
 1 61 
 
 1 81 
 
 2 03 
 
 2 28 
 
 2 56 
 
 2 88 
 
 3 23 
 
 4 5 
 
 5 07 
 
 6 34 
 
 25 
 
 1 28 
 
 1 45 
 
 1 64 
 
 1 85 
 
 2 09 
 
 2 36 
 
 2 67 
 
 3 01 
 
 3 39 
 
 4 29 
 
 5 43 
 
 6 85 
 
 26 
 
 1 30 
 
 1 47 
 
 1 6 7 
 
 1 90 
 
 2 16 
 
 2 45 
 
 2 77 
 
 3 i4 
 
 3 56 
 
 4 55 
 
 5 81 
 
 7 40 
 
 27 
 
 1 31 
 
 1 49 
 
 1 71 
 
 1 95 
 
 2 22 
 
 2 53 
 
 2 88 
 
 3 28 
 
 3 73 
 
 4 82 
 
 6 21 
 
 7 99 
 
 28 
 
 1 32 
 
 I 52 
 
 1 74 
 
 2 00 
 
 2 29 
 
 2 62 
 
 3 00 
 
 3 43 
 
 3 92 
 
 5 " 
 
 6 65 
 
 8 63 
 
 29 
 
 33 
 
 1 54 
 
 1 7 8 
 
 2 05 
 
 2 36 
 
 2 71 
 
 3 12 
 
 3 58 
 
 4 12 
 
 5 42 
 
 7 Jl 
 
 9 32 
 
 30 
 
 1 35 
 
 1 56 
 
 1 81 
 
 2 10 
 
 2 43 
 
 2 81 
 
 3 24 
 
 3 75 
 
 4 32 
 
 5 74 
 
 7 61 
 
 10 06 
 
 3i 
 
 1 36 
 
 1 59 
 
 85 
 
 2 15 
 
 2 50 
 
 2 91 
 
 3 37 
 
 3 9i 
 
 4 54 
 
 6 09 
 
 8 IS 
 
 10 87 
 
 32 
 
 * 37 
 
 1 61 
 
 1 88 
 
 2 20 
 
 2 58 
 
 3 01 
 
 3 5i 
 
 4 09 
 
 4 76 
 
 6 45 
 
 8 72 
 
 11 74 
 
 33 
 
 1 39 
 
 1 63 
 
 1 92 
 
 2 26 
 
 2 65 
 
 3 11 
 
 3 65 
 
 4 27 
 
 S 00 
 
 6 84 
 
 9 33 
 
 12 68 
 
 34 
 
 1 40 
 
 1 66 
 
 1 96 
 
 2 32 
 
 2 73 
 
 3 22 
 
 3 79 
 
 4 47 
 
 5 25 
 
 7 25 
 
 998 
 
 13 69 
 
 35 
 
 1 42 
 
 1 68 
 
 2 00 
 
 2 37 
 
 2 81 
 
 3 33 
 
 3 95 
 
 4 67 
 
 5 52 
 
 7 69 
 
 10 68 
 
 14 79 
 
 36 
 
 1 43 
 
 1 71 
 
 2 04 
 
 2 43 
 
 2 90 
 
 3 45 
 
 4 10 
 
 4 88 
 
 5 79 
 
 8 15 
 
 11 42 
 
 15 97 
 
 37 
 
 1 45 
 
 1 73 
 
 2 08 
 
 2 49 
 
 2 99 
 
 3 57 
 
 4 27 
 
 5 10 
 
 6 08 
 
 8 64 
 
 12 22 
 
 17 25 
 
 38 
 
 1 46 
 
 1 76 
 
 2 12 
 
 2 56 
 
 3 07 
 
 3 70 
 
 4 44 
 
 5 33 
 
 6 39 
 
 9 15 
 
 13 08 
 
 18 63 
 
 39 
 
 1 47 
 
 1 79 
 
 2 16 
 
 2 62 
 
 3 17 
 
 3 83 
 
 462 
 
 5 57 
 
 6 70 
 
 9 70 
 
 13 99 
 
 20 12 
 
 40 
 
 1 49 
 
 1 81 
 
 2 21 
 
 2 69 
 
 3 26 
 
 3 9 6 
 
 4 80 
 
 5 82 
 
 7 04 
 
 10 29 
 
 14 97 
 
 21 72 
 
 41 
 
 1 5 
 
 1 84 
 
 2 25 
 
 2 75 
 
 3 36 
 
 4 10 
 
 4 99 
 
 6 08 
 
 7 39 
 
 10 90 
 
 l6 C2 
 
 23 46 
 
 42 
 
 1 52 
 
 1 87 
 
 2 30 
 
 2 82 
 
 3 46 
 
 4 24 
 
 5, i9 
 
 6 35 
 
 7 7 6 
 
 8 15 
 
 11 56 
 
 17 14 
 
 25 34 
 
 3 
 
 1 53 
 
 1 90 
 
 2 34 
 
 2 89 
 
 3 56 
 
 4 39 
 
 5 40 
 5 62 
 
 6 64 
 
 12 25 
 
 18 34 
 
 27 37 
 
 44 
 
 1 55 
 
 1 93 
 
 2 39 
 
 296 
 
 3 67 
 
 4 54 
 
 6 94 
 
 8 56 
 
 12 99 
 
 19 63 
 
 29 56 
 
 45 
 
 1 56 
 
 1 95 
 
 2 44 
 
 3 04 
 
 3 78 
 
 4 70 
 
 5 84 
 
 7 25 
 
 8 99 
 
 13 76 
 
 21 00 
 
 31 92 
 
 46 
 
 1 58 
 
 1 98 
 
 2 49 
 
 3 " 
 
 3 90 
 
 487 
 
 6 oS 
 
 7 57 
 
 9 43 
 
 14 59 
 
 22 47 
 
 34 47 
 
 2 
 
 1 60 
 
 2 01 
 
 2 54 
 
 3 39 
 
 4 OI 
 
 5 04 
 
 6 32 
 
 7 92 
 
 9 9i 
 
 '5 47 
 
 24 05 
 
 37 2 3 
 
 1 61 
 
 2 04 
 
 2 59 
 
 3 27 
 
 4 13 
 
 5 21 
 
 6 57 
 
 8 27 
 
 10 40 
 
 16 39 
 
 25 73 
 
 40 21 
 
 49 
 
 1 63 
 
 2 07 
 
 2 64 
 
 3 35 
 
 426 
 
 5 40 
 
 6 83 
 
 8 64 
 
 10 92 
 
 1738 
 
 27 53 
 
 43 43 
 
 50 
 
 1 64 
 
 2 11 
 
 2 69 
 
 3 44 
 
 4 38 
 
 5 58 
 
 7 " 
 
 9 3 
 
 11 47 
 
 18 42 
 
 29 4* 
 
 46 90 
 
And how to Keep it. 
 
 283 
 
 Table. Compound Interest. 
 
 Showing the Amount of $1 improved at Compound Interest for any 
 number of years not exceeding 100. 
 
 1 
 
 a 
 
 
 a 
 
 a 
 
 V 
 
 
 
 a 
 
 
 c 
 
 c 
 8 
 
 c 
 
 a 
 
 a 
 
 i 
 
 a 
 
 u 
 
 5 
 
 8 
 
 u 
 
 h 
 
 ft 
 
 8 
 
 I 
 
 8 
 
 I 
 
 8 
 
 u 
 
 u 
 
 1 
 
 8 
 
 
 
 8 
 u 
 
 4> 
 
 < 
 
 ft 
 
 if 
 
 & 
 
 X 
 
 ft 
 
 * 
 
 ft 
 
 * 
 
 1 
 
 p. 
 
 ft 
 
 1 
 
 M 
 
 
 N 
 
 
 
 CO 
 
 m 
 
 -+ 
 
 - 
 
 10 
 
 vO 
 
 $3i 52 
 
 00 
 
 Si 
 
 $1 66 
 
 $2 14 
 
 $2 75 
 
 fe 52 
 
 $4 52 
 
 #5 78 
 
 $ 739 
 
 $9 44 
 
 $12 04 
 
 $19 S3 
 
 $50 65 
 
 52 
 
 1 68 
 
 2 17 
 
 2 80 
 
 3 61 
 
 465 
 
 5 98 
 
 7 69 
 
 9 86 
 
 1264 
 
 20 70 
 
 33 73 
 
 54 71 
 
 S3 
 
 1 6 9 
 
 2 20 2 86 
 
 3 7 
 
 4 79 
 
 6 19 
 
 7 99 
 
 10 31 
 
 13 28| 21 94 
 
 36 09 
 
 59 08 
 
 54 
 
 1 71 
 
 2 23; 2 9 I 
 
 3 79 
 
 4 93 
 
 6 41 
 
 8 31 
 
 10 77 
 
 13 94 23 26 
 
 38 61 
 
 63 81 
 
 55 
 
 1 73 
 
 2 27 
 
 2 97 
 
 3 89 
 
 5 08 
 
 6 63 
 
 8 65 
 
 11 26 
 
 14 64. 24 65 41 32 
 
 68 91 
 
 56 
 
 1 75 2 30 
 
 3 03 
 
 3 99 
 
 5 23 
 
 6 87 
 
 8 99 
 
 11 76 
 
 IS 37j 26 13 44 21 
 
 74 43 
 
 57 
 
 1 76 
 
 2 34 
 
 3 09 
 
 4 9 
 
 5 39 
 
 7 11 
 
 9 35 
 
 12 29 
 
 16 14 27 70 47 30 
 
 80 38 
 
 58 
 
 1 78 
 
 2 37 
 
 3 15 
 
 4 19 
 
 5 55 
 
 7 35 
 
 9 73 
 
 12 85 
 
 16 94 
 
 29 36 
 
 50 61 
 
 86 81 
 
 59 
 
 1 80 
 
 2 41 
 
 3 22 
 
 4 29 
 
 5 72 
 
 7 61 
 
 10 12 
 
 13 42 
 
 17 79 
 
 31 12 
 
 54 16 
 
 93 76 
 
 60 
 
 1 82 
 
 2 44 
 
 3 28 
 
 4 4 
 
 5 89 
 
 7 88 
 
 10 52 
 
 14 3 
 
 18 68 
 
 32 99 
 
 57 95 
 
 101 26 
 
 61 
 
 1 83 
 
 2 48 
 
 3 35 
 
 4 5i 
 
 6 07 
 
 8 15 10 94 
 
 14 66 
 
 19 61 
 
 34 97 62 no 
 
 109 36 
 
 62 
 
 I 85 
 
 2 52 
 
 3 4i 
 
 462 
 
 625 
 
 8 44 
 
 11 38 
 
 15 32 
 
 20 59 
 
 37 06 66 34 
 
 118 11 
 
 63 
 
 187 
 
 2 55 
 
 3 48 
 
 4 74 
 
 6 44 
 
 8 73 
 
 11 83 
 
 16 01 
 
 21 62 
 
 39 29 70 99 
 
 127 55 
 
 64 
 
 1 89 
 
 2 59 
 
 3 55 
 
 4 86 
 
 6 63 
 
 9 4 
 
 12 31 
 
 16 73 
 
 22 70 
 
 4i 65; 75 96 
 
 137 76 
 
 65 
 
 1 91 2 63 
 
 362 
 
 4 98 
 
 6 83 
 
 9 36 
 
 12 80 
 
 17 48 
 
 23 84 
 
 44 14! 81 27 
 
 148 78 
 
 66 
 
 I 93 2 67 
 
 3 69 
 
 5 10 
 
 7 03 
 
 9 68 
 
 13 3i 
 
 18 27 
 
 25 03 46 79i 86 96 
 
 160 68 
 
 67 
 
 1 95, 2 71 
 
 3 77 
 
 5 23 
 
 7 25 10 02 
 
 13 84 
 
 19 09 
 
 26 28 j 49 60 93 05 
 
 173 54 
 
 68 
 
 1 97 2 75 
 
 384 
 
 5 36 
 
 7 46 
 
 10 37 
 
 14 4 
 
 19 95 
 
 27 60. 52 58 99 56 
 
 187 42 
 
 69 
 
 1 99J 2 79 
 
 3 92 
 
 5 49 
 
 7 69 
 
 10 74 
 
 14 97 
 
 20 85 
 
 28 98 55 73 J o6 53 
 
 202 41 
 
 7 
 
 2 01 
 
 2 84 
 
 400 
 
 563 
 
 7 92 
 
 11 11 
 
 15 57 
 
 21 78 
 
 30 43 
 
 59 08; 113 99 
 
 218 61 
 
 7i 
 
 2 03 
 
 2 88 
 
 4 08 
 
 5 77 
 
 8 16 
 
 11 So 
 
 16 19 
 
 22 76 
 
 3i 95 
 
 62 62 121 97 
 
 236 09 
 
 72 
 
 2 05 
 
 2 92 
 
 4 16 
 
 5 92 
 
 8 40 
 
 11 90 
 
 16 S4 
 
 23 79 
 
 33 55 
 
 66 38 130 51 
 
 254 98 
 
 73 
 
 2 07 
 
 2 96 
 
 4 24 
 
 6 07 
 
 8 65 
 
 12 32 
 
 17 52 
 
 24 86 
 
 35 22 
 
 70 36! 139 64 
 
 275 38 
 
 74 
 
 2 09 
 
 3 01 
 
 4 33 
 
 6 22 
 
 891 
 
 12 75 
 
 18 22 
 
 25 98 
 
 36 98 
 
 74 58; 149 4 2 
 
 297 41 
 
 75 
 
 2 11 
 
 3 05 
 
 4 42 
 
 6 37 
 
 9 18 
 
 13 20 
 
 18 95 
 
 27 15 
 
 38 83 
 
 79 06 159 88 
 
 321 20 
 
 76 
 
 2 13 3 10 4 50 
 
 6 53 
 
 9 45 
 
 13 66 
 
 19 70 
 
 28 37 
 
 40 77 
 
 83 80 171 07 
 
 346 90 
 
 77 
 
 2 15 
 
 3 15 4 59 
 
 6 69 
 
 9 74 
 
 14 14 
 
 20 49 
 
 29 65 
 
 42 81 
 
 88 83 j 183 04 
 94 16 i 195 85 
 
 374 65 
 
 78 
 
 2 17 
 
 3 19 4 69 
 
 6 86 
 
 10 03 
 
 14 63 
 
 21 31 
 
 30 98 
 
 44 95 
 
 404 63 
 
 e 
 
 2 19 
 
 3 24! 4 78 
 
 7 03 
 
 33 
 
 15 15 
 
 22 16 
 
 32 37 
 
 47 20 
 
 99 81 i 209 56 
 
 437 00 
 
 2 22 
 
 3 29 4 88 
 
 7 21 
 
 10 64 
 
 15 68 
 
 23 05 
 
 33 83 
 
 49 56 
 
 105 80 ! 224 23 
 
 47i 95 
 
 81 
 
 2 24 
 
 3 34; 4 97 
 
 7 39 
 
 10 96 
 
 16 22 
 
 23 97 
 
 35 35 
 
 52 04 
 
 112 14 239 93 
 
 509 71 
 
 82 
 
 2 26; 3 39' 5 07' 
 
 7 57 
 
 11 29 
 
 16 79 
 
 24 93 
 
 36 94 
 
 54 64 
 
 118 87I 256 73 
 
 550 49 
 
 83 
 
 2 28 
 
 3 44, 5 i7i 
 
 7 76 
 
 11 63 
 
 17 38 
 
 25 93 
 
 38 61 
 
 57 37 
 
 126 00 274 70 
 
 594 53 
 
 84 
 
 2 3i 
 
 3 49 1 5 28! 
 
 7 96 
 
 8 16 
 
 11 98 
 
 17 99 
 
 26 97 
 
 40 34 
 
 60 24 
 
 133 57 2 93 93 
 
 642 09 
 
 j 
 
 2 33 
 
 3 54 5 38 
 
 12 34 
 
 18 62 
 
 28 04 
 
 42 16 
 
 63 25 
 
 141 58, 314 5 
 
 693 4 6 
 
 86 
 
 2 35 
 
 3 60 5 49 
 
 8 36 
 
 12 71 
 
 19 27 
 
 29 17 44 06; 
 
 66 42 
 
 150 07 336 52 
 
 748 93 
 
 87 
 
 2 38 
 
 3 65 5 60 
 
 8 57 
 
 13 09 
 
 19 94 3o 33i 46 04; 
 
 69 74 
 
 *59 08 360 07 
 
 808 85 
 
 88 
 
 2 40 
 
 3 71 5 71 
 
 8 78 
 
 13 48 
 
 20 64 
 
 31 55 48 II; 
 
 73 22 
 
 168 62 385 28 
 
 873 56 
 
 89 
 
 2 42 
 
 3 j6 5 83 
 
 9 00 
 
 13 88 
 
 21 36 
 
 32 8i| 50 27; 
 
 76 89 
 
 178 74! 412 25 
 
 943 44 
 
 90 
 
 2 45 
 
 3 82 5 94 
 
 9 23 
 
 14 3 
 
 22 H 
 
 34 "J 52 54 1 
 
 80 73 
 
 189 46 441 10 
 
 1,018 92 
 
 9i 
 
 2 47 
 
 3 S8! 6 06 
 
 9 46 
 
 14 73 
 
 22 89 
 
 35 48 i 54 90 
 
 84 77 
 
 200 83 ' 471 98 
 
 1. 100 43 
 
 92 
 
 2 50 
 
 3 93 6 18 
 
 9 70 
 
 15 17 
 
 26 69 
 
 36 9| 57 37 j 
 
 89 01 
 
 212 88; 505 02 
 
 1, 188 46 
 
 93 
 
 2 52 
 
 3 99 6 31 
 
 9 94 
 
 15 63 
 
 24 52 
 
 38 38 59 95! 
 
 93 46 
 
 225 66 54 37 
 
 1, 283 54 
 
 94 
 
 2 55 
 
 4 5 6 43 
 
 10 19 
 
 16 10 
 
 25 37 
 
 39 9i 62 65 
 
 98 13 
 
 239 19 578 20 
 
 I, 386 22 
 
 95 
 
 2,57 
 
 4 6 6 6 
 
 10 44 
 
 16 58 
 
 26 26 
 
 4i 5i| 65 47 
 
 103 03 
 
 253 55 618 67 
 
 i, 497 12 
 
 96 
 
 2 60 
 
 4 18 6 69 
 
 10 70 
 
 17 08; 27 18 
 
 43 i7j 68 42 
 
 108 19, 268 76 661 98 1 
 
 1,616 89 
 
 II 
 
 263 
 
 4 24 6 83 
 
 10 97 
 
 '7 59 28 13 
 
 44 9: 7i 5o 
 
 113 60 284 88 708 31 J 
 
 1, 746 24 
 
 265 
 
 4 30 6 96 
 
 11 24 
 
 18 13 29 12 46 691 74 71 
 
 18 66 30 14 48 56 78 08 
 
 119 28I 301 98 757 90j 
 
 1. 885 94 
 
 99 
 
 2 68 
 
 4 37 7 10 
 
 11 53 
 
 125 24 320 10 810 95 1 
 
 2, 036 82 
 
 too 
 
 2 70 
 
 4 43, 
 
 724 
 
 II 81 
 
 19 22 
 
 3i 19 
 
 50 5 
 
 81 59, 
 
 131 5 
 
 339 30, 
 
 867 72. 
 
 2, I99 76 
 
284 How to make Money make Money, 
 
 of any other sum, multiply such sum by the amount in 
 the proper place at any interest from one to eight per 
 cent. : thus, wanted the compound interest of 27 dollars 
 for 21 years at 3|- per cent per annum. The compound 
 interest of a dollar for that time is $2.06, multiplied by 
 27 dollars gives $55.62, and in like manner for any other 
 sum. 
 
 INSURANCE. 
 
 Under this head is classed a variety of modes and 
 kinds of Insurances. Among the most prominent, are 
 fire, marine, inland and life insurance. They all belong 
 to that class of business, making money with money. 
 They are again subdivided into cash and mutual. They 
 are considered here more as specimens of how money can 
 be made with money, as of interest to the money-maker, 
 than as any special commendation of them, as the most 
 profitable or the least profitable mode of doing so. It is 
 more to explain their existence as a means of saving 
 than of making. 
 
 Like banking, they are usually conducted by able 
 business men, and in very much the same way. They 
 are necessities to those having property at the risk of the 
 elements, and who cannot afford to lose without embar- 
 rassments. To the money-maker they are invaluable as 
 a means of preventing loss, and to those who have accu- 
 mulated are a means of making their money work to 
 advantage. Sometimes the profits of such business are 
 very large ; and sometimes, and more frequently than in 
 banking, a total loss of the money invested. In all busi- 
 ness where the profits are large, a corresponding risk is 
 run of loss. There is a fairer chance of winning- on 
 
And how to Keep it. 285 
 
 marine than on fire insurance, all other things being 
 equal. 
 
 But the benefit such institutions are to the money- 
 maker is, that, if his property is in such things as can be 
 destroyed by the elements, he can, by the payment of a 
 small amount of money annually, cover his loss if one 
 occurs. Therefore, every one who is endeavoring to 
 make money should keep such kind of property fully 
 insured. An hour's neglect may lose you years of toil. 
 Then look out when you make your agreement with a 
 company ; see that it is put into the body of the policy, 
 and read your policy over from the first word to the last, 
 carefully. See what you agree to, and what they agree 
 to do. Possibly not one half the policies that are signed 
 are read over. People suppose they are all right, and so 
 they may be. But read, nevertheless. 
 
 If you do not know the officers to be honest and 
 honorable men, having a high standing as such in the 
 community, let such companies alone, they will probably 
 not pay you if you have a loss. If, too, you know of a 
 company chafrlerng and screwing down a loss, and do not 
 pay fairly, let it alone ; these men will treat you in the 
 same way in your distress. They have been paid to pay 
 your loss in full to the extent of your policy, and should 
 do so as cheerfully as take your money. Look more to 
 the character of the men managing than to the capital, 
 but look well to both. Don't trust your property in their 
 hands without you know them, or of them, " clown to the 
 ground." You had better pay a fair company, one who 
 will take the pains to find out what your whole loss is 
 and pay it promptly, a large price at first, than have ten 
 times that amount shaved off when your loss occurs. 
 
 No company will ever undertake this without they are 
 
286 How to make Money make Money, 
 
 steeped in ignorance of their true interests ; nor will 
 they retain an agent for one moment who will try to save 
 on a loss. It is more money out of their pockets than 
 out of that of the insured. The manner in which losses 
 are settled by companies draws business and profit, or 
 repels it and makes loss. No one will ever forget the 
 company or man who shaves him under such circum- 
 stances, nor will he forget the one who deals honestly 
 with him. 
 
 The insured, then, may be called upon to take the pro- 
 mise to pay of a company for a large amount. Ask 
 yourself would a Bank take their note for this amount, 
 and give the money upon it. Then, to have profited 
 duly by the lessons you have read, you must inquire of 
 as many as twelve or fourteen successful business men if 
 they would do so ; and if they all agree, knowing the 
 company, and would trust it, you may insure as a safe 
 rule, and not otherwise. 
 
 On the other hand, the company may be subject to 
 fraud on the part of the insured. It is for their interest 
 never to assume fraud without positive proof, or at least 
 such proof as would convince a jury of the fact. Better 
 pay, and look more carefully to the character of the 
 insured next time. They will make more money in the 
 end. Neither for their own interest should they chaffer 
 about the payment of such a loss without they conclude 
 to test it by law, as a compromise would injure them 
 more than the amount saved, as one-half of those who 
 heard of it would take it for granted that it was an unjust 
 settlement. 
 
 The same general principles of civility and pleasant 
 manners, and an interest in the insured, holds good in 
 this business, as in banking business. All tells to the 
 
And how to Keep it. 287 
 
 profit of the company and the enlargement of dividends ; 
 and generally there is no business where sound judg- 
 ment, honest intent, general reputation and policy is 
 rewarded with more promptness than in this. 
 
288 How to make Money make Money y 
 
 CHAPTER XXIII. 
 
 LIFE INSURANCE. 
 
 Origin of Life Insurance. Progress. Companies established. 
 Object. Death may prevent. Three hard problems. 
 Mortality table. Life expectancy. Duties to reader. Four 
 kinds of Insurance Companies. Stock. Mutuals. Crown- 
 ing beauty. Mutual plan. Twenty and ten per cent, broker- 
 age. Decisive. Community recommend. Mutual Life. 
 Organization. Main feature. Equitable principles. Most 
 made. General principle. Note and cash mutuals all 
 profits equally divided. Frightful exhibit. Non-forfeiting 
 principle. What mutual life has done. Good exhibit. Whole 
 life policies. For whom most suitable. Secure to wife. 
 Table rates. Examples. Grand result. Change of ideas. 
 Comparison stocks and mutual. Losses and gains. Whole 
 life policy illustrated. Five and ten year payments. Ten year 
 payments illustrated. Good thing. Instalment feature. 
 Practical operation. Endowment policy. Table of rates. 
 What Mutual Life says.' Equitable return. Illustration of ten 
 year and annual endowments. Children's endowments. Table 
 of rates. Not recommended. Surrender of policies. Special 
 notice. An at. Explanation of author. Annuities. Sur- 
 vivorship annuity. Single life annuity. Tables for survivor- 
 ship and single life annuities. 
 
 The first public office for the insuring of lives originated with the 
 Rev. William Anhote, D.D., of Middleton, in Lancashire, England, 
 for the benefit of the widows of clergymen and others, and for the 
 settling of jointures and annuities This design was undertaken and 
 established by the " Mercers' Company," which in 1698 settled the 
 sum of ,2,888 per annum as a security for the yearly payment of 
 ^30 during the life of any widow whose husband had, in his health, 
 subscribed ,100 to the fund ; and so in proportion for any greater 
 or less amount. In 1699 another similar institution was formed, 
 under the name of " The Society of Assurance for Widows and 
 Orphans." In July, 1706, the first general office for this kind of 
 security was founded by a charter from Queen Anne, and called 
 
And how to Keep it. 289 
 
 " The Amicable Society, or Perpetual Assurance ; " and it is probable 
 that about the same period many other projects of a like nature 
 appeared, of which no traces are now remaining. 
 
 "The Royal Exchange Assurance Company" was established 
 by a charter dated June 20, 1720; the original powers of which 
 were extended by another charter, issued in the following year, to 
 the insurance of lives and against casualties and accidents by fire. 
 The " London Assurance Company " was also incorporated in 
 1721, in consequence of the same Act, for granting similar securi- 
 ties ; and these appear to have been the only associations instituted 
 for general life insurances until the year 1762, when "The Equi- 
 table Society " was formed, in Consequence of the recommendation 
 of Professor Simpson in his lectures. Mr. James Dodson also 
 appears to have assisted in the design, by supporting the plan, and 
 composing some of the tables. About the same period, a number 
 of other societies were projected and formed, under the specious 
 pretence of being institutions "for the benefit of old age," being, 
 however, for the most part, false in principle, and mischievous in 
 effect ; but towards the conclusion of the eighteenth century, and the 
 commencement of the present, several new and valuable companies 
 for life insurance were founded. The following statement furnishes, 
 perhaps, the clearest view of the advance and employment of life 
 insurances down to the present time : In England, from 1706 to this 
 date, upwards of 100 life insurance companies have been founded. 
 The first life insurance company established in the United States 
 was the "Hospital Life Insurance Company" of Boston, which 
 commenced its operations in the year 1825. The "New York Life 
 and Trust Company" then followed in 1829, but the life insurance 
 department of their business was very limited. It will be seen that 
 this subject is comparatively new in this country, few persons having 
 availed themselves of its advantages prior to the year 1843, when 
 the first mutual companies were established, under the names of the 
 ."Mutual Life Insurance Company of New York," and the "New 
 England Life Insurance Company of Boston." The next were the 
 "State Mutual, of Worcester, Mass.," the "Mutual Benefit of 
 Newark," and the " New York Life Insurance Company," of New 
 York City, established in 1845. Since that date several other com- 
 panies have been established in different sections of the country. 
 Norton. 
 
 It will be seen from this that Life Insurance is attract- 
 ing more attention each year ; and, as every one knows, 
 has now become a highly important feature in the financial 
 world. The object is of such a nature as to commend 
 itself to every reflecting mind. As we have insisted that 
 it is the moral and political duty of all to so arrange 
 
290 How to make Money make Money, 
 
 their affairs financially, that they under no circumstances 
 shall become a burden upon the public or upon friends, 
 this department of finance seems the best way by which 
 such a result can be obtained. For if the individual be 
 alone, and no one dependent upon him, it will be shown 
 that he can accumulate for himself, as fast as in any 
 other way, on small amounts, while if he has others 
 dependent upon him, it is the only way that an inde- 
 pendence can be certainly obtained for them. 
 
 However industrious, prudent, and saving one may be 
 under such circumstances of protection, death stands at 
 his door to put an end at any time to such efforts, how- 
 ever well directed. There is then but one loop-hole of 
 escape from such responsibility, and but one way by 
 which any one thus situated may see his way clear, 
 and conquer even the efforts of death to prevent. The 
 life insurance meets this case ; and while it does this 
 effectually, if it at the same time accomplishes another 
 end, of making money make money to the best advan- 
 tage, it is still better ; but if still again it shows how, 
 and does keep it, a treble result is obtained ; and three 
 harder problems are not to be found in the range of 
 financial skill. If, then, their solution can be accom- 
 plished by the most simple and uneducated in finance, 
 here may be said to be the Eldorado of the protector's 
 hope, if not of the unskilled money-maker and saver. 
 
 Let every one, then, who has such obligations upon 
 him, consider well their binding force, politically and 
 socially, if he has no promptings of affection or love to 
 the same end. As a means of quickening these consid- 
 erations, let him look over a mortality table, which we 
 furnish, with his expectancy of life, and it will in all 
 probability arouse him to sudden and energetic action in 
 
And how to Keep it. 
 
 291 
 
 the right direction, before his opportunities to do so are 
 ended, with no chance to retrace or amend. 
 
 Table 
 
 Showing the probable number of persons living at the end of each 
 year out of every 1,000 born at the same time, and the life ex- 
 pectancy ; as calculated from the Carlisle Table of Mortality. 
 
 
 No. 
 
 I 
 
 
 No. 
 
 
 
 
 No. 
 
 
 
 
 No. 
 
 
 
 ft 
 
 Living. 
 
 
 Living. 
 
 P. 
 
 5 
 bo 
 
 Living. 
 
 1 
 
 & 
 
 Living. 
 
 8* 
 
 < 
 
 
 W 
 
 < 
 27 
 
 579 
 
 w 
 
 < 
 
 
 < 
 
 
 w 
 
 I 
 
 846 
 
 44* 
 
 36* 
 
 53 
 
 421 
 
 19 
 
 79 
 
 108 
 
 5* 
 
 2 
 
 778 
 
 47* 
 
 28 
 
 575 
 
 35* 
 
 54 
 
 414 
 
 18* 
 
 80 
 
 95 
 
 5* 
 
 3 
 
 727 
 
 S . 
 
 29 
 
 57 
 
 35, 
 
 55 
 
 407 
 
 17* 
 
 81 
 
 84 
 
 5* 
 
 4 
 
 700 
 
 5* 
 
 30 
 
 564 
 
 34* 
 
 56 
 
 400 
 
 17 
 
 82 
 
 72 
 
 5 
 
 5 
 
 680 
 
 5I t 
 
 31 
 
 558 
 
 33* 
 
 57 
 
 392 
 
 16* 
 
 83 
 
 62 
 
 4* 
 
 6 
 
 668 
 
 5ii 
 
 32 
 
 553 
 
 33 
 
 58 
 
 384 
 
 15* 
 
 84 
 
 53 
 
 4* 
 
 1 
 
 659 
 
 5i 
 
 33 
 
 547 
 
 32* 
 
 59 
 
 375 
 
 15 
 
 85 
 
 44 
 
 , 4* 
 
 &54 
 
 5* 
 
 34 
 
 542 
 
 3i* 
 
 60 
 
 364 
 
 14* 
 
 S6 
 
 37 
 
 3* 
 
 9 
 
 649 
 
 49* 
 
 35 
 
 536 
 
 3i 
 
 61 
 
 352 
 
 14 
 
 87 
 
 3 
 
 3* 
 
 10 
 
 646 
 
 49 
 
 36 
 
 531 
 
 3 oi 
 
 | 62 
 
 34 
 
 13* 
 
 88 
 
 23 
 
 3l 
 
 11 
 
 643 
 
 48 
 
 37 
 
 525 
 
 29* 
 
 1 63 
 
 327 
 
 13 
 
 89 
 
 16 
 
 3 f 
 
 12 
 
 640 
 
 47* 
 
 38 
 
 519 
 
 29 
 
 64 
 
 314 
 
 12* 
 
 90 
 
 14 
 
 3l 
 
 *3 
 
 637 
 
 46] 
 
 39 
 
 514 
 
 28* 
 
 65 
 
 302 
 
 11* 
 
 9i 
 
 10 
 
 3* 
 
 14 
 
 633 
 
 45* 
 
 40 
 
 507 
 
 27* 
 
 66 
 
 289 
 
 11* 
 
 92 
 
 7 
 
 3$ 
 
 *i 
 
 630 
 
 45 , 
 
 41 
 
 501 
 
 27 
 
 67 
 
 277 
 
 ioi 
 
 93 
 
 5 
 
 3* 
 
 16 
 
 626 
 
 44f 
 
 42 
 
 494 
 
 26* 
 
 68 
 
 265 
 
 ioJ- 
 
 94 
 
 4 
 
 3* 
 
 17 
 
 622 
 
 43* 
 
 43 
 
 487 
 
 25* 
 
 69 
 
 252 
 
 9* 
 
 95 
 
 3 
 
 3* 
 
 18 
 
 618 
 
 43 , 
 
 44 
 
 480 
 
 25* 
 
 70 
 
 240 
 
 9* 
 
 96 
 
 2 
 
 3* 
 
 19 
 
 613 
 
 4 2* 
 
 45 
 
 473 
 
 24* 
 
 71 
 
 228 
 
 8i 
 
 97 
 
 2 
 
 3* 
 
 20 
 
 609 
 
 4I t 
 
 46 
 
 466 
 
 24 
 
 1 72 
 
 214 
 
 8* 
 
 98 
 
 1 
 
 3 
 
 21 
 
 605 
 
 40* 
 
 47 
 
 459 
 
 23 V 
 
 73 
 
 200 
 
 7* 
 
 99 
 
 1 
 
 2} 
 
 22 
 
 600 
 
 40 
 
 48 
 
 452 
 
 22* 
 
 74 
 
 184 
 
 7* 
 
 100 
 
 1 
 
 2* 
 
 23 
 
 596 
 
 39* 
 
 49 
 
 446 
 
 22 
 
 75 
 
 167 
 
 7, 
 
 101 
 
 1 
 
 1* 
 
 34 
 
 592 
 
 38* 
 
 5 
 
 440 
 
 21* 
 
 76 
 
 151 
 
 6J 
 
 102 
 
 
 
 
 25 
 
 588 
 
 38 
 
 5i 
 
 $ 
 
 20i 
 
 77 
 
 136 
 
 6* 
 
 103 
 
 
 
 
 26 
 
 584 
 
 37* 
 
 52 
 
 19* 
 
 78 
 
 121 
 
 6 
 
 104 
 
 
 
 
 The basis of life insurance is laid in what are denom- 
 inated Mortality Tables. They are prepared by taking 
 a large number of cases, and from experience ascertain- 
 ing the average extent in duration of life, from any given 
 age. The results vary in different parts of the world. 
 The table now in use as a basis, with slight variations in 
 practice in this country, is taken from observations for 
 nine years, ending in 1787, at Carlisle, in England. The 
 
292 How to make Money 'Hake Money, 
 
 length of time any one has by their chances to live is 
 called their life expeclancy. A close inspection of this table 
 will show what the life insurance is intended to guard 
 against. 
 
 So far as the objects of this work are involved in this 
 very important principle of life insurance, we have but 
 two duties to perform to the reader. 
 
 First To show the best means of using it. 
 
 Second To point out the safest and most lucrative 
 plan to use it. 
 
 This article, and for this object, was first written about 
 seven years ago, and the conclusions arrived at then have 
 materially changed in its favor within that time. All, 
 however, we hold ourselves responsible for now, is simply 
 to furnish facls, and give an individual opinion upon 
 them, which it is believed will be borne out by subse- 
 quent results. 
 
 Insurance companies are principally founded upon 
 four different bases : the cash stock and cash premi- 
 ums, in which the insured have no interest in the profits, 
 the other three being mutual, in which the insured have 
 an interest in the profits. Of these latter some have a 
 cash capital, and the premiums are paid in cash and in 
 notes. Others have no cash capital, and the premiums 
 are paid in like manner ; while others have no cash capi- 
 tal, and the premiums are all paid in cash. All have the 
 same object ; and it is for the insured to say, after a care- 
 ful investigation of the foundations upon which they are 
 raised, and the benefits flowing to the insured, which one 
 of the four classes he will select. A life policy is some- 
 thing of an undertaking, and especially if the insured 
 has no aid from any source to ease his payments. For 
 as he grows older, as a general thing his ability to pay 
 
And how to Keep it. 293 
 
 becomes less, and from this cause may endanger his 
 profits of previous payments. 
 
 The mutual plan obviates this controlling objection to 
 life insurance, and by division of profits lightens the 
 payments from year to year, and in the most successful 
 mutual cash company now doing business in the United 
 States, they cease altogether in sixteen years. This is 
 the crowning beauty of the mutual cash plan, and, as a 
 consequence, the business is not only increasing but 
 assuming gigantic proportions. Results in business ope- 
 rations are the true tests of merit of the kind of business 
 done. Individual opinions may be of some value as to 
 the best of the three modes of mutual insurance, but this 
 is proof positive. 
 
 One thing is certain, that no mutual company 
 can do a successful business on notes without the notes 
 are paid ; and if the insured gets no benefit the cash 
 plan is the safest, for then he knows what he can 
 do, and acts accordingly, while in the plan of giving 
 notes an undertaking is gone into which may or may not 
 be within his control to carry out. There is one fact- 
 connected with the two modes of insurance which the 
 insured should know. In the mutual note and cash, the 
 brokerage paid for procuring insurance is twejity per cent. 
 on cash portion, while in the cash mutual it is but ten. 
 This to a shrewd business-man is a significant facl, and 
 so far as we would be concerned, if we were about to 
 insure, would be decisive. 
 
 Having looked at this point as part of the expenses of 
 the mutual plan, there are others that bear upon it in 
 like manner. The larger the business done the less will 
 be the expense to be borne by each one insured, and the 
 larger will be the dividend of profits arising. The truth 
 
294 How to make Money make Money, 
 
 of the whole matter lies just here : the most successful 
 company, or that which has received the largest amount 
 of public patronage, and especially so when the brokerage 
 for procuring insurance is one-half less than others, is the 
 highest recommendation such style of company can 
 have, for it is not an individual opinion, but the opinion 
 of the community. 
 
 Then, in a word, to those about to insure, look for that 
 company, and insure in it. Your money is safe, and your 
 beneficiaries will be paid, calculating on human proba- 
 bilities. Upon the same general principle that you 
 select the heaviest bank to deposit your money in, 
 although there may be others equally good, of smaller 
 means. 
 
 The most successful mutual cash company in the 
 United States, or in the world, is the Mutual Life Insur- 
 ance Company of New York. Those who insure in that 
 company become partners, and by the charter have no 
 liabilities of loss, but participate in the profits. They 
 have made very decided improvements in the style 
 of their business, for the benefit of the insured, since 
 its first organization, and the result of these changes 
 has increased its business within the last year nearly 
 one-half of its whole business outstanding at that 
 time. 
 
 The main feature which has given the greatest impe- 
 tus to their popularity among seekers after life insur- 
 ance, is the equitable division of profits among the 
 insured. In 1862 they adopted the contribution plan 
 originated by their actuary, Mr. Sheppard Homans, by 
 which every policy-holder receives his dividend of profits 
 just in proportion to the interest he has in the funds 
 of the company. This feature originated with them, 
 
And how to Keep it. 295 
 
 and they are now receiving as a company the benefit of 
 such a just arrangement. Other companies have adopted, 
 and are following, the example of the Mutual Life. 
 
 To explain this more fully, one man insured in 1850, 
 and one in i860, for the same amount. The one insured 
 in 1850 has paid more money into and has more to his 
 credit than the one who insured in i860. The dividend 
 of profits is now made in proportion to the amount to 
 each one's credit, by which operation each gets his just 
 share of profit. 
 
 This principle is the one so closely pressed in this 
 work, and the illustration of it in the success of the 
 Mutual Life is a strong indorsement of the opinion. To 
 do business for the interest of those you do 'business for, 
 is a sure road to success. It inspires confidence and 
 makes innumerable friends, beside those benefited directly. 
 Every dollar an individual loses by a life insurance 
 company is two dollars taken out of its earnings in the 
 future, though one may be added temporarily. We mean 
 loss beyond the just charge for the risk for the time the in- 
 sured pays, and if it be in a mutual, a just and accurate pro- 
 portion of the expenses for the time insured. The position 
 of a life insurance company to make money out of 
 those they pretend to be protecting for a charitable end, is 
 a false one. The true principle should be that whatever 
 the insured pays to a company as premium on any risk, should 
 stand to his credit till death occurs, or the just proportion 
 refunded. Because the company would make the most 
 rrwney by it, besides being the protector of the unfortunate. 
 Instead of taking from those who could pay no longer 
 what they had intrusted to the care of the company, the 
 company would be sought for as a bank of savings, to 
 return or at least keep for their benefit their hard earn- 
 
 13 
 
296 How to make Money m*ke Money, 
 
 ings. A savings bank will not close its books aad refuse 
 to pay a depositor what he has earned because he can- 
 make no more money, nor should a life insurance com- 
 pany do the equivalent. 
 
 In the mutuals, note and cash system, those insuring 
 at different times for the same amount get the same 
 amount of dividend. So that if the company receives a 
 large accession to its business, the new-comers take what 
 really belongs to the older insurers ; a system of injus- 
 tice that soon becomes burdensome even to those who 
 now insure, and as the business increases becomes more 
 and more so. 
 
 Another feature in the Mutual Life Insurance Com- 
 pany of New York, is the non-forfeiting of policies when 
 the individual becomes unable to pay. In former years, 
 and before the adoption of this plan, thousands were 
 deterred from insuring by the large excess of policies 
 forfeited over those actually paid. Thus, in 1859, tms 
 company forfeited 302 policies; cancelled, 136; sur- 
 rendered, 266 ; expired, 80 ; paid from death, 98. A 
 frightful exhibit to one who had the idea of insuring his 
 life. 
 
 These things are now ameliorated, and any policy- 
 holder, who has paid money into the company on a 
 policy, can get an equitable return or paid-up policy for 
 the money which he has paid. Of course he cannot get 
 all, for his life has been insured in the meantime, and if 
 he had died the company would have been bound to pay 
 the whole amount of the policy. Other companies of 
 like construction have adopted and are following the ex- 
 cellent and popular exahiple of this company in these 
 respects. To get this advantage now, however, the policy- 
 holder must apply before his premium becomes due. 
 
And how to Keep it. 297 
 
 The success of this company has been so amazing, that 
 although they have paid claims by death of $6,464,713, 
 in less than twenty-five years, they have never yet for 
 any purpose touched a dollar of cash premiums paid in, 
 but have been able to meet all demands from the profits 
 of business without touching moneys paid as premiums. 
 They have paid in the past twenty-three years dividends 
 to their policy-holders, $10,176,388 in cash, or equivalent 
 additions to their policies of $22,000,000, and now hold 
 cash assets of $20,000,000. This is an exhibit which 
 removes all human doubt as to ultimate security of the 
 policy-holder, for if every dollar of its assets were swept 
 away now invested in bonds and mortgages, real estate, 
 in buildings, State and United States bonds, and cash on 
 hand, the regular premiums payable in cash would not be 
 consumed, in all probability, in payment of policies falling 
 due. 
 
 This state of things has been brought about by the 
 equity of the plan of doing the business, and the general 
 economy of its management. The prudent investment 
 of its funds, cash system in its transactions, scrutiny of 
 the risks taken, and low expenses, have enabled the com- 
 pany to make dividends to -life policy-holders, so that 
 their dividends exceed their annual premiums after a run 
 of the policy for sixteen years. The dividends are either 
 payable in cash, at the option of the insured, or can be 
 applied to extinguish premiums or increase insurance. 
 
 With a full conviction that this company offers the 
 largest inducements to life insurance seekers, we have 
 taken the liberty to use their tables in this work, to show 
 to those whose wish it is to make provision in this way 
 for themselves or those dependent upon them, the mode 
 of operation. There are undoubtedly other companies 
 
298 
 
 How to make Money make Money t 
 
 equally responsible with this, but none probably who will 
 pretend to question the supposed facls herein stated. 
 
 WHQLE LIFE POLICIES. 
 
 These can be paid for in four ways ; in annual premi- 
 ums in first ten annual payments, or in first five annual 
 payments, or in one payment. Below are the tables of 
 the' Mutual Life, and the rates are about the same in all 
 mutual companies. 
 
 Whole Life Table. 
 
 Premiums for an insurance of $1,000 (other amounts to extend to 
 $20,000, in same proportion), in the Mutual Life Insurance 
 Company of New York. 
 
 
 
 
 
 u 
 
 
 
 
 h 
 
 Si 1 V* 
 
 
 1-8 Sj 
 
 &* 
 
 (O 
 
 
 c 
 
 
 <2 
 
 
 2i2 
 
 <2 2 <2 
 
 6 
 bo 
 
 1|S 
 
 rti2 
 
 6 
 
 PI 
 
 3 c<J 
 
 So 
 
 HZ * 
 3 "" 
 
 "32 8 
 
 2 3>i 
 
 rti2 . 
 
 3 G& 
 
 < 
 
 5Bv 
 
 5B a 
 
 5 S-l 
 
 <: 
 
 5B" 
 
 5 S a 
 
 a g 3 
 
 < 
 
 sg 
 
 figc 
 
 a 6-1 
 
 
 < >>. 
 
 <; >, <u 
 
 < . 
 
 
 < -. 
 
 <; >. <u 
 
 <! >. 
 
 
 < >:, 
 
 < >> 
 
 < * 
 
 
 P> 
 
 h 
 
 Oh 
 
 
 p> 
 
 Ph' 
 
 
 
 
 * 
 
 
 
 14-25 
 
 $7189 
 
 41 95 
 
 $1989 
 
 39 
 
 595 38 
 
 $56 21 
 
 $30 66 
 
 53 
 
 $128 61 
 
 $77 81 
 
 $52 71 
 
 26 
 
 73 34 
 
 42 82 
 
 20 47 
 
 40 
 
 97 37 
 
 57 44 
 
 3i 73 
 
 54 
 
 131 44 
 
 19 78, 55 07 
 
 27 
 
 7482 
 
 43 71 
 
 21 07 
 
 41 
 
 99 4i 
 
 58 71 
 
 32 86 
 
 55 
 
 134 34 
 
 81 83 57 58 
 
 28 
 
 76 34 
 
 44 62 
 
 21 70 
 
 42 
 
 101 51 
 
 60 02 
 
 34 o5 
 
 56 
 
 137 32 
 
 83 98 
 
 60 25 
 
 29 
 
 77 88 
 
 45 55 
 
 22 35 
 
 43 
 
 103 66 
 
 61 38 
 
 35 30 
 
 57 
 
 140 38 
 
 86 22 
 
 63 10 
 
 30 
 
 79 46 
 
 46 Si 
 
 23 02 
 
 44 
 
 105 87 
 
 62 78 
 
 36 63 
 
 58 
 
 143 52 
 
 **57 
 
 66 14 
 
 31 
 
 81 07 
 
 47 48 
 
 23 73 
 
 45 
 
 108 is 
 
 64 23 
 
 38 04 
 
 59 
 
 146 76 
 
 91 04 
 
 69 38 
 
 32 
 
 82 72 
 
 48 48 
 
 24 46 
 
 46 
 
 no 49 
 
 65 74 
 
 39 53 
 
 60 
 
 150 09 
 
 93 63 
 
 72 84 
 
 33 
 
 84 4i 
 
 49 So 
 
 25 23 
 
 i 47 
 
 112 91 
 
 67 3i 
 
 41 11 
 
 61 
 
 153 5i 
 
 9 6 35 
 
 76 53 
 
 34 
 
 86 13 
 
 50 55 
 
 26 03 
 
 48 
 
 "5 38 
 
 68 92 
 
 42 78 
 
 62 
 
 157 04 
 
 99 21 
 
 80 46 
 
 35 
 
 87 89 
 
 51 62 
 
 26 87 
 
 49 
 
 117 92 
 
 70 59 
 
 44 55 
 
 63 
 
 160 67 
 
 102 21 
 
 8465 
 
 36 
 
 89 70 
 
 52 72 
 
 27 75 
 
 ! 50 
 
 X20 SI 
 
 72 31 
 
 46 42 
 
 64 
 
 
 105 37 
 
 89 12 
 
 37 
 
 91 55 
 
 53 86 
 
 28 67 
 
 i SI 
 
 "3 15 
 I2S85 
 
 74 8 
 
 48 39 
 
 65 
 
 
 108 68 
 
 93 86 
 
 38 
 
 93 44 
 
 55 02 
 
 29 64 
 
 52 
 
 75 9i 
 
 50 49 
 
 1 
 
 
 
 
 These policies are more especially suitable for all sala- 
 ried persons, or those having a small stated income. 
 Though no person in trade, or in any occupation about 
 which there is risk of failure, should fail to lay aside 
 enough to pay for a life policy which would give them 
 some reserve fund in case of accident ;^a?id be careful not 
 to insure in any company that does not secure a non-forfeit- 
 
And how to Keep it. 299 
 
 able benefit for what yon do pay. Look at the vicis situdes 
 of commercial life and see what proportion fall by the 
 wayside into actual poverty that could, while their 
 thousands were passing like snow-flakes, have secured to 
 themselves and their families, a home, without missing; 
 the trifle in money that it would have cost. 
 
 No one is free from such chances of calamity, and the 
 life policy to the wife, under certain restrictions named 
 hereafter, cannot be reached by the a-editor. At the high 
 tide of prosperity which generally takes place in a man's 
 life about thirty-five years of age, a life policy of ten thou- 
 sand dollars will cost in the Mutual Life in ten annual 
 payments, cash dividends applied, about $3,200 an 
 amount which is often lost by injudicious credits, or in 
 some odd speculation. If men could see the down-hill 
 side of life as it will be, very few would be without this 
 comfort to purchase a snug little home to shelter those 
 they cherish and have always the good-will to protect. 
 
 The plan of paying in five or ten years is a beautiful 
 feature in life insurance, as any one can make good the 1 
 payments in an ordinary business, and secure, without 
 knowing or feeling, that this anchor to the windward has 
 been laid. While fortune smiles and success runs high, 
 few ever cast a glance into the chances of the future. It 
 wpuld be better if they did, and study statistics. 
 
 We give examples of a few policies now running to 
 show the increase, and dividends paid. 
 
Soo 
 
 How to make Money make Money, 
 
 Examines of Life Policies, of $i,coo each, in the Mutual Life 
 Insurance Company of New York. 
 
 Age 
 
 Year when 
 
 Present 
 
 Annual 
 Pre- 
 mium. 
 
 Total 
 Paid in 
 
 Cash 
 
 Dividend. 
 
 1866. 
 
 c 
 
 Additions 
 for 
 
 Total 
 Additions 
 
 Issue. 
 
 Issued. 
 
 Age. 
 
 Years 
 1863-6. 
 
 
 Dividend 
 of 1866. 
 
 for Whole 
 Time. 
 
 
 (-1863 
 
 33 
 
 $23 02 
 
 $69 06 
 
 $24 73 
 
 36 
 
 $71 47 
 
 $7i 47 
 
 
 1858 
 
 38 . 
 
 23 02 
 
 69 06 
 
 38 97 
 
 56 
 
 101 56 
 
 269 19 
 
 30 
 
 \ 1853 
 
 43 
 
 23 02 
 
 69 06 
 
 54 63 
 
 79 
 
 127 62 
 
 469 17 
 
 
 1848 
 Ll843 
 
 48 
 
 23 60 
 
 70 80 
 
 75 65 
 
 107 
 
 157 77 
 
 648 61 
 
 
 53 
 
 23 60 
 
 70 80 
 
 92 03 
 
 130 
 
 171 37 
 
 767 88 
 
 
 fi86 3 
 
 38 
 
 26 87 
 
 80 6l 
 
 31 3i 
 
 39 
 
 81 60 
 
 81 60 
 
 
 1858 
 
 43 
 
 26 87 
 
 80 6l 
 
 47 35 
 
 59 
 
 no 62 
 
 307 56 
 
 35 
 
 i853 
 
 48 
 
 26 87 
 
 80 6l 
 
 66 90 
 
 83 
 
 139 15 
 
 550 67 
 
 
 1848 
 
 53 
 
 27 50 
 
 82 50 
 
 87 14 
 
 106 
 
 162 26 
 
 667 21 
 
 
 Li 843 
 
 58 
 
 27 50 
 
 82 50 
 
 114 84 
 
 139 
 
 191 83 
 
 918 13 
 
 
 fi86 3 
 
 43 
 
 3i 73 
 
 95 19 
 
 36 60 
 
 38 
 
 85 5i 
 
 85 5i 
 
 
 J 1858 
 
 48 
 
 3i 73 
 
 95 19 
 
 57 85 
 
 61 
 
 120 65 
 
 33o 79 
 
 40 
 
 \ i853 
 
 53 
 
 31 73 
 
 95 19 
 
 76 97 
 
 81 
 
 143 32 
 
 521 60 
 
 
 | 1848 
 
 58 
 
 32 00 
 
 96 00 
 
 99 40 
 
 103 
 
 166 06 
 
 672 21 
 
 
 L1843 
 
 63 
 
 32 00 
 
 96 00 
 
 129 50 
 
 135 
 
 195 73 
 
 808 87 
 
 
 fi86 3 
 
 48 
 
 38 04 
 
 114 12 
 
 44 12 
 
 39 
 
 01 
 
 92 01 
 
 
 1858 
 
 53 
 
 38, 04 
 
 114 12 
 
 65 06 
 
 57 
 
 121 16 
 
 330 70 
 
 45 
 
 - 1853 
 
 58 
 
 38-04 
 
 114 12 
 
 89 64 
 
 79 
 
 149 76 
 
 536 08 
 
 
 1848 
 
 63 
 
 37 30 
 
 in 90 
 
 117 63 
 
 105 
 
 177 90 
 
 673 60 
 
 
 L1843 
 
 68 
 
 37 30 
 
 in 90 
 
 153 o7 
 
 137 
 
 211 71 
 
 830 72 
 
 The above table exhibits the dividend of 1866 upon policies in 
 force. 
 
 The policy for $1,000 issued in the year 1843, at age 30, having a 
 dividend of 130 per cent, not only has the entire future premium 
 cancelled, but is practically a paid-up policy for $1,767.88. This 
 amount will gradually increase every year during the life of the 
 person assured. 
 
 No more cash premiums are required on any of the above poli- 
 cies issued previous to the year 1853. 
 
 The average annual dividend (of 1866) on all policies issued in 
 the first ten years of the company's history (1843-52 inclusive), is 
 103 per cent, (in cash value) on the annual premiums. 
 
And how to Keep it. 301 
 
 As the groundwork of life insurance is laid in the ab- 
 solute money paid, it is interesting to the insured to 
 know how to determine the best companies to insure 
 in order to get the largest amount for their money. Not 
 the company that promises the most, but the one that by 
 calculation from what it has accomplished in a series 
 of years, is still increasing. In the old style of insur- 
 ance, it was supposed if they paid a dividend on their 
 cash capital and had a surplus in premiums the concerns 
 were doing well. 
 
 The mutual plan, however, has changed these ideas, 
 and a new state of things has arisen. The comparison 
 between the cash stock cash premium companies, wherein 
 the insured have no interest in the profits, and in case of 
 death only receive the amount of their policy, no matter 
 how long it has run, and the mutual plans, leads to won- 
 derful differences, especially on long dates/ On long 
 runs of such policies the losses to the insured become 
 terrific in the cash stock, companies, and are superior only 
 on the first year to the best cash mutuals. 
 
 In order to make the comparison understandingly, we 
 will take the extreme case where one in one thousand 
 lives to the age of 10 1. There is one such, according to 
 the Carlisle table of mortality. We will suppose that he 
 insures a whole life for $13,525, at the age of 30 years, 
 and that he pays into the cash stock company his yearly 
 premium till he is 10 1 years old : that is, for 71 years. 
 The yearly premium is $230.20, or, in other words, a tri- 
 fle more than 73 cents per day for 313 days. This, by 
 the table of earnings, will give for 71 years, at 5 per cent., 
 $146,193.66. From this it will be seen that if the annual 
 payment had been deposited in a savings bank, at 5 per 
 cent, compound interest, instead of having been paid to 
 
302 How to make Money make Money, 
 
 the cash stock company, this sum would have been to 
 the credit of the insured, whereas all he would get from 
 the insurance company would be the amount of his pol- 
 icy, $13,525. Hence, by insuring instead of investing 
 in that way, his estate would have made a dead loss of 
 $132,668.66. 
 
 Suppose, instead of insuring in the stock company for 
 $13,525, he had insured for $10,000 in a cash, mutual, 
 premium $230.20, that equalled in profits the accumula- 
 tions in the savings bank of 5 per cent., the estate of the 
 insurer would have had $146,193.66; consequently, he 
 would have lost $132,668.66 in the stock company on a 
 policy of $13,525, as against an investment in a savings 
 bank, and gained in a cash mutual company doing as well 
 as the bank, in profits, $146,193.66, on a policy of 
 $10,000. 
 
 Suppose, however, we consider the subject with refer- 
 ence to a six per cent, investment in a savings bank and a 
 life insurance in a cash stock and cash premium company 
 on this same life. The savings bank will have to the 
 credit of the assured the sum of $242,472.15, while the 
 cash stock company would have $13,525 to the credit of 
 the assured. If the cash mutual life, on a policy of 
 $10,000, would do for the assured as well as the savings 
 bank, he would have the same amount, $242,472.15. The 
 assured would lose $228,947. 1 5 in the cash stock on a pol- 
 icy of $13,525, and receive $242,472.15 in the cash mu- 
 tual on a policy of $10,000. It is doubtful, however, 
 whether the cash mutual will ever be able to do as well 
 for the assured as six per cent, on the annual rates, though 
 the Mutual Life now does as well as six per cent, on the 
 money paid in. 
 
 The mode of getting at this result from the tables 
 
And how to Keep it. 303 
 
 in this book is, first to ascertain the daily payment for 
 313 days, being 73 cents. This, by table of earnings, in 
 50 years will give $68,559.24 ; compounded at 6 per cent, 
 for 21 years gives $233,101.41 ; and 73 cents for the same 
 21 years will give in earnings $9,370.74, and added toge- 
 ther gives $242,*472.i5. 
 
 The yearly premium in the stock companies is less 
 on the same amount of policy on the start than in the 
 cash mutual, being in the stock company $170.20 on 
 $10,000, at 30 years of age, while it is $230.20 in the 
 mutual. The total amount of cash paid by the insured 
 in the case cited would be, in the stock company, $12,- 
 084.20, while in the mutual, on the basis of dividend of 
 1866, it would be $3,069.43, without noticing interest. 
 The first yearly premiums differ $60, the second are 
 about the same, while in the mutual they decrease rap- 
 idly, and in the other they remain the same always. 
 
 We will now give an example of the operation of a 
 whole life policy in the Mutual Life . of New York, on 
 next page, on the basis of dividend of February 1, 1866. 
 
 From this we find that in ten years there is an addi- 
 tion in value to the policy of $3,247.99 ; in fifteen years, 
 of $5,631.29; in twenty-five, of $12,152.50. That there 
 was in the first ten years, of aclual cash paid, of $1,691.- 
 17 ; for fifteen years, of $2,284.83 ; for twenty-five years, 
 of $3,050.43. If the whole premiums had been paid 
 without dividends to help, in the first ten years, there 
 would have been paid in cash, $2,687.00 ; for the first 
 fifteen years, $4,030.50; for the first twenty-five years, 
 $6,717.75. 
 
 By examination it will be seen that the insured at the 
 end of the first year has added $254.24 to the value of 
 his policy, and had his life insured for $10,000 for $14.46, 
 
 13* 
 
304 
 
 How to make Money make Money, 
 
 Whole Life Policy for $10,000, issued at age of 35, Annual Pre 
 mium, $268.70. 
 
 * It will be seen that when the dividends are allowed to remain with the company, 
 the policy and additions become paid up in full in sixteen years ; or, in other words, the 
 annual dividends exceed the annual premiums. 
 
 or a little over five per cent, on his premium. At the 
 end of the second year he has paid in all, in cash, $443.87, 
 and has added to the value of his policy $523.20 cost- 
 ing nothing to insure, and has made $79.33, being a trifle 
 short of eighteen per cent, on the amount of cash paid in 
 or invested. At the end of the third year he has paid in 
 all, in cash, $614.89, and has added to the value of his 
 policy $806.07, costing nothing to insure, and has made 
 $191.18, 'being a trifle over thirty-one per cent, upon the 
 
And how to Keep it. 305 
 
 cash invested. At the end of the fourth year ne has paid 
 in all, in cash, $782.11, and has increased the value of his 
 policy $1,103.24, costing nothing to insure, and has made 
 $321.13, being about forty-three per cent, upon the in- 
 vestment. At the end of the fifth year Jie has paid 
 $94541, and increased the value of his policy $1,415.23, 
 and has made $469.82 ; a trifle short of fifty per cent, up- 
 on the investment, and so on. 
 
 It must be remembered that although the additions to 
 the policy are not accumulated interest, they are never- 
 theless dollars, which will be paid to the policy-holder 
 in case of death. Hence it matters not to him what it 
 is or how it is calculated ; the money will be found when 
 due. It must be borne in mind, too, that if death occurs 
 in either of these years, the heir of the policy-holder not 
 only gets what we have called profits, but he gets also 
 the amount, of policy, $10,000. 
 
 Considering the subject of life policy in any point of 
 view, and especially in that of a cash mutual, where the 
 first premium is the heaviest payment, and that they de- 
 crease rapidly as the age increases, and finally the pay- 
 ments cease altogether, and the inability, from inexperi- 
 ence, of those having money to manage it, the conclusion 
 must inevitably result in the minds of those having expe- 
 rience in investments, that it is the best that the largest 
 class of people can make, independent of the insurance 
 itself; but when this is taken into account also, it is 
 surely strange that any one who has dependants, and has 
 not ample means, should fail to avail himself of the ad- 
 vantage. Nothing but an ignorance of the subject would 
 
 prevent. 
 
 The quicker, however, any one can secure the benefits 
 
 of a paid-up policy, the better. Hence, life policies can be 
 
306 How to make Money make Money, 
 
 paid for in jive or ten annual payments, and the rates 
 have been given heretofore. Change of circumstances 
 may render payments, however small, difficult or impos- 
 sible, and the insured would not get the full value, as he 
 would if he continued the payments to the end. The 
 Mutual Life of New York set forth the following for all 
 such policies : 
 
 i. The company will purchase ordinary life policies after the 
 second year's premium has been paid, and give therefor the equi- 
 table cash value or an equivalent paid-up policy. The cash value 
 varies with the age of the policy from thirty to ninety per cent, of 
 the premiums paid, averaging about sixty-six per cent. The equiv- 
 alent paid-up policy always exceeds the total amount of premiums 
 paid. 
 
 2. Life policies issued on the ten-payment plan, and all endow- 
 ment policies, have a like surrender-value from the moment the first 
 premium is paid, even if it be only a quarterly premium. 
 
 We give an example on next page of the operation of 
 a whole life policy, premium paid in ten yearly pay- 
 ments in this company, on the basis of dividend of 1866. 
 
 This style v of life policy is especially recommended, 
 for many reasons, and if these reasons are good for it, 
 they are still better for the payments in five years. It 
 will be noticed that the additions in the whole life an- 
 nual payments in twenty-five years, are $12,152.50, while 
 in this they are $14,741.46, and in the five yearly pay- 
 ments would be still more. For the principle in all cases 
 holds good, that the quicker you pay the more you get in 
 value on the policy. 
 
 A new feature has lately been introduced by the Mu- 
 tual Life, on life policies, and we can do no better than 
 quote, on next page, what they say on that subject. It 
 is without doubt a most beautiful idea, and will com- 
 mend itself to those whose objects it will forward, if not 
 consummate, in the best way. 
 
And how to Keep it. 
 
 307 
 
 Ten Year Whole Life Pblicy for $10,000, issued at age of 35. 
 Annual Premium, $516.21. 
 
 
 
 a i 
 
 i S 
 3 ' 
 
 i 
 
 a 
 
 
 
 ' Policy 
 ns. 
 
 Date. 
 
 E 
 i 
 
 1 
 
 3 
 
 a 3 
 
 ij 
 
 a *3 
 
 1 
 
 ft 
 
 a 
 
 3 
 
 a 
 1 
 
 hdPh 
 I 2 
 
 ffj 
 
 Total 
 Additions. 
 
 o.2 
 
 
 "i> 
 
 < % 
 
 > 
 
 H 
 
 < 
 
 
 3 * 
 
 
 s 
 
 
 
 ft 
 
 i 
 
 
 
 
 H 
 
 End of 1 st 
 
 
 
 
 
 
 
 
 Year. 
 
 $119 26 
 
 ^396 94 
 
 
 $119 26 
 
 $324 18 
 
 $324 18 
 
 $10,324 18 
 
 2d 
 
 128 57 
 
 387 63 
 
 '$4*28 
 
 132 8 S 
 
 353 64 
 
 677 82 
 
 10,677 82 
 
 3 i 
 
 138 19 
 
 378 01 
 
 9 14 
 
 147 33 
 
 383 96 
 
 1,061 78 
 
 11,061 78 
 
 4 th 
 
 148 28 
 
 367 92 
 
 14 63 
 
 162 91 
 
 4i5 56 
 
 1.477 34 
 
 ",477 34 
 
 & 
 
 159 OS 
 
 357 15 
 
 20 79 
 
 179 84 
 
 448 91 
 
 1.926 25 
 
 11,926 25 
 
 6th 
 
 170 89 
 
 345 31 
 
 27 75 
 
 198 64 
 
 485 10 
 
 2 .4" 35 
 
 12,4" 35 
 
 Z* ' 
 
 183 76 
 
 332 44 
 
 35 62 
 
 219 38 
 
 524 03 
 
 2,935 38 
 
 12,935 38 
 
 8th 
 
 197 81 
 
 318 39 
 
 44 82 
 
 242 63 
 
 566 80 
 
 3,502 18 
 
 13,502 18 
 
 9th 
 
 212 78 
 
 XT 3 2- 42 
 
 Nothing. 
 
 54 4i 
 
 267 19 
 
 610 42 
 
 4,112 60 
 
 14,112 60 
 
 icth 
 
 228 35* 
 
 66 07 
 
 294 42 
 
 657 47 
 
 4,770 07 
 
 14,770 07 
 
 nth 
 
 159 64 
 
 Nothing. 
 
 78 72 
 
 238 36 
 
 520 33 
 
 5.290 40 
 
 15,290 40 
 
 1 2th 
 
 163 45 
 
 Nothing. 
 
 89 60 
 
 253 05 
 
 539 94 
 
 5 830 34 
 
 15,830 34 
 
 13th 
 
 167 14 
 
 Nothing. 
 
 101 23 
 
 268 37 
 
 559 70 
 
 6,390 04 
 
 16,390 04 
 
 14th 
 
 170 56 
 
 Nothing. 
 
 "3 5i 
 
 284 07 
 
 579 06 
 
 6,969 10 
 
 16,969 10 
 
 15th 
 
 173 59 
 
 Nothing. 
 
 126 27 
 
 299 86 
 
 597 47 
 
 7,566 57 
 
 17,566 57 
 
 16th 
 
 175 9i 
 
 Nothing. 
 
 139 23 
 
 315 14 
 
 613 82 
 
 8,180 39 
 
 18,180 39 
 
 17th 
 
 177 89 
 
 Nothing. 
 
 152 51 
 
 33o 40 
 
 629 18 
 
 8,809 57 
 
 18,809 57 
 
 18th 
 
 180 33 
 
 Nothing 
 
 166 75 
 
 347 08 
 
 646 29 
 
 9,455 86 
 
 19,455 86 
 
 19th 
 
 183 68 
 
 Nothing. 
 
 182 44 
 
 366 12 
 
 666 77 
 
 10,122 63 
 
 20,122 63 
 
 20th 
 
 187 79 
 
 Nothing. 
 
 199 88 
 
 387 67 
 
 690 66 
 
 10,813 29 
 
 20,813 25 
 
 21st 
 
 192 80 
 
 Nothing. 
 
 219 23 
 
 412 03 
 
 718 28 
 
 ",53i 55 
 
 2i,53i 57 
 
 22cl 
 
 198 32 
 
 Nothing- 
 
 240 43 
 
 438 75 
 
 748 63 
 
 12,280 20 
 
 22,280 20 
 
 23d 
 
 204 40 
 
 Nothing. 
 
 263 74 
 
 468 14 
 
 782 oS 
 
 13,062 28 
 
 23,062 28 
 
 24th 
 
 211 25 
 
 Nothing 
 
 289 68 
 
 500 93 
 
 819 63 
 
 13,881 91 
 
 23,881 91 
 
 25th 
 
 218 28 
 
 Nothing. 
 
 317 89 
 
 536 17 
 
 859 55 
 
 14,741 46 
 
 24 741 46 
 
 * The ten years having expired, the premiums are paid up in full, and the annual divi- 
 dends may be used either to increase the amount insured, or as an annual cash income. 
 
 THE INSTALMENT FEATURE. 
 
 To meet the choice of such present or future members as may 
 prefer to have the amount insured paid in instalments to their widows 
 or heirs, rather than in one sum, this company is prepared to issue 
 policies covenanting that in lieu of the payment of the policy and 
 additions thereto in one sum, an equitable amount, to be determined 
 by the company, may be paid annually or semi-annually for any 
 specified number of years (say from five to twenty-five years). 
 
 This form of annuity will remove the anxiety which may exist in 
 the minds of some policy-holders, lest the future provision they 
 have made for their families should be ineffectual or transitory in its 
 duration, either through unsafe investments, unwise expenditure, 01 
 other uncertainties incidental to contingent trusts. 
 
308 
 
 How to make Money make Money, 
 
 It is not only free from the ordinary dangers of investment, but its 
 punctual and full payment is secured by the Large and Solid Cash 
 Resources and good faith of this institution, which thus, to a cer- 
 tain extent, becomes the Guardian or Trustee of the survivors. 
 Hence the provision may be considered, humanly speaking, beyond 
 any adverse contingency. 
 
 All such deferred payments or annuities will share equitably in 
 the profits or dividends of the company. They will also, when 
 desired, be made inalienable by the beneficiaries. 
 
 Table 
 
 Showing the Practical Operation of the Instalment System. Ex- 
 ample, $10,000 in Ten Annual Instalments. Other Amounts 
 in same proportion. 
 
 
 
 
 Interest on 
 
 balance re- 
 
 Total amount of each 
 
 
 Amount re- 
 
 Amount of 
 
 maining with Company. 
 
 Instalment 
 
 Beginning 
 
 maining with 
 
 Instalment 
 
 
 
 
 
 of Year. 
 
 Company. 
 
 paid. 
 
 
 
 
 
 
 
 
 6 per cent. 
 
 7 per cent. 
 
 6 per cent. 
 
 7 per cent 
 
 j 
 
 $10,000 
 
 $1,000 
 
 
 
 $1,000 
 
 * 
 $1,000 
 
 2 
 
 9,000 
 
 I,000 
 
 $540 
 
 $630 
 
 1,540 
 
 1,630 
 
 3 
 
 8,000 
 
 1,000 
 
 480 
 
 560 
 
 1,480 
 
 1,560 
 
 4 
 
 7,000 
 
 1,000 
 
 420 
 
 490 
 
 1,420 
 
 1,490 
 
 5 
 
 6,000 
 
 1,000 
 
 360 
 
 420 
 
 1,360 
 
 1,420 
 
 6 
 
 5,000 
 
 1,000 
 
 300 
 
 350 
 
 1,300 
 
 1,350 
 
 7 
 
 4,000 
 
 1,000 
 
 240 
 
 280 
 
 1,240 
 
 1,280 
 
 8 
 
 3,000 
 
 1,000 
 
 180 
 
 2IO 
 
 I,l8o 
 
 1,210 
 
 9 
 
 2,000 
 
 1,000 
 
 I20 
 
 I40 
 
 1,120 
 
 1,140 
 
 io 
 
 1,000 
 
 1,000 
 
 60 
 
 70 
 
 I,o6o 
 
 1,070 
 
 ENDOWMENT POLICIES. 
 
 The next in order, but by no means the less important 
 mode of effecting life insurance, is the endowment 
 policy. By this one can have his life insured and have 
 the amount of policy paid to himself at any age after ten 
 years intervene. There is not a merchant, trader, or 
 any one subject to the misfortunes of business, that 
 should not have an endowment policy. It is the best pos- 
 
And how to Keep it. 
 
 309 
 
 Endowments. 
 
 Premiums Payable Annually, and in Ten Annual Payments, on 
 Assurance of $1,000. 
 
 
 At Death or 
 40. 
 
 At Death or 
 45- 
 
 At Death or 
 5o- 
 
 At Death or 
 55- 
 
 At Death or 
 60. 
 
 At Death or 
 65- 
 
 u 
 
 
 < 
 
 co 
 B 
 
 B 
 e E 
 
 4) >, 
 
 *& 
 
 s 
 
 1 
 
 i 
 I 
 
 1 
 
 
 1 
 
 CO 
 
 c 
 9 
 
 3 
 
 c 
 
 in 
 1 
 
 i 
 
 hhOh 
 
 
 
 1 
 
 4 
 
 a 
 gg 
 
 9 
 
 CO 
 
 "3 
 
 1 
 
 tijp 
 
 1 
 
 a 
 
 < 
 
 CO 
 
 a 
 
 4> 
 
 S 
 g 
 
 4 
 
 6 
 
 E 
 
 1 
 
 a 
 < 
 
 
 
 B 
 
 Si 
 
 
 
 SI 
 
 A 
 
 a 
 
 s 
 
 .fin* 
 
 1 
 
 a 
 a 
 < 
 
 CO 
 
 "2 
 
 11 
 
 c 
 
 H 
 
 O* 
 
 5 
 
 1 
 
 1 
 1 
 
 -5J 
 
 20 
 
 21 
 22 
 23 
 24 
 25 
 26 
 27 
 28 
 29 
 30 
 3' 
 32 
 
 33 
 
 34 
 35 
 36 
 37 
 38 
 39 
 40 
 
 $ 7 2 82 
 
 74 75 
 76 So 
 78 95 
 8j 23 
 83 63 
 
 $42 28! 
 45 4[ 
 48 12 
 50 56! 
 55 44i 
 59 85! 
 64 89 
 70 82! 
 77 52| 
 85 58! 
 95 26 
 
 $65 09 
 
 66 58 
 
 68 16 
 
 69 82 
 7i 57 
 73 42 
 75 36 
 77 4i 
 79 58 
 81 86 
 84 28 
 
 $3283 
 
 34 58 
 3648 
 38 55 
 40 83 
 43 34 
 46 1 1 
 49 20 
 52 65 
 56 55 
 60 96 
 66 01 
 71 $S 
 7867 
 8673 
 9641 
 
 $59 30 
 
 60 56 
 
 61 80 
 63 09 
 6446 
 65 89 
 67 41 
 
 69 00 
 
 70 67 
 72 44 
 74 31 
 
 $26 98 
 
 28 19 
 
 29 49 
 3089 
 32 39 
 
 34 OI 
 
 35 78 
 37 69 
 39 79 
 42 08 
 44 61 
 
 $55 3o 
 56 24 
 
 : 57 22 
 ' 58 26 
 
 i 59 34 
 
 ! 60 49 
 ; 61 69 
 1 62 95 
 
 64 27 
 i 65 67 
 
 ; 67 13 
 
 68 68 
 
 $23 20 
 
 24 10 
 
 25 06 
 
 26 08 
 
 27 17 
 
 28 32 
 
 29 56 
 
 30 88 
 
 32 31 
 
 33 84 
 35 49 
 0-7 ?s 
 
 $52 48. $20 73 
 
 53 26; 2i 45, 
 
 54 08 22 20 
 
 54 93 23 00 
 
 55 83 23 84: 
 i 56 77J 24 73 
 
 57 75, 25 67 
 
 58 78 26 66 
 
 59 87; 27 72 
 [ 61 00 28 84 
 
 62 20 30 04 
 1 6 3 45! 3' 32i 
 1 64 77; 32 68 
 
 66 15! 34 15I 
 1 67 6x1 35 73 
 
 69 13 37 43, 
 
 ! 70 75 39 28: 
 
 , 72 44 41 28; 
 
 74 23 43 47 
 
 j 76 11 1 45 86, 
 
 1 78 10, 48 49! 
 
 80 21 1 51 39, 
 
 , 82 44 54 62 
 
 84 80 58 22 
 
 87 32j 62 27 
 
 $50 68:$i9 14 
 5i 39 '9 75 
 52 07: 20 38 
 
 52 81] 21 05 
 
 53 58 21 74 
 
 54 39 22 47 
 
 55 24 23 23 
 
 56 13 24 04 
 
 57 06: 24 89 
 
 58 03 25 78 
 
 59 5 26 72 
 
 60 12 27 72 
 
 61 24 28 77 
 
 62 41 29 89 
 
 63 64 31 08 
 i 64 94 32 35 
 ! 66 29 33 70 
 I 67 72 35 15 
 
 69 21 36 70 
 
 70 79 38 37 
 72 44 40 '7 
 74 19 42 12 
 
 
 
 
 78 34 50 51 
 80 53, 53 98 
 
 82 85 ! * 80 
 
 70 30 39 23 
 
 72 oij 41 35 
 
 1 73 82! 43 6S 
 
 | 75 72 46 24 
 
 | 77 73 [ 49 6 
 
 79 85. 52 21 
 
 
 
 
 
 
 
 
 
 
 85 30 
 
 62 32 
 67 39 
 73 25 
 80 08 
 88 16 
 97 87 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 1 84 47 
 86 98 
 
 59 67 
 64 i5 
 69 27 
 75 18 
 82 07 
 90 22 
 100 00 
 
 
 
 
 
 
 
 
 
 
 
 42 
 43 
 44 
 45 
 46 
 47 
 48 
 49 
 50 
 5i 
 
 52 
 
 53 
 54 
 55 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 46 5 5 
 
 
 
 
 
 
 
 
 ; 80 05 
 1 82 24 
 84 57 
 87 05 
 89 70 
 92 52 
 95 54 
 
 49 08 
 51 85 
 54 91 
 58 30 
 
 62 oS 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 72 10 
 78 13 
 
 85 is 
 
 93 43 
 103 32 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 66 30 
 71 06 
 7646 
 82 65 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 89 8j 
 98 26 
 108 31 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3 i o How to make Money make Money, 
 
 sible way of investing and saving profits. Taken out in 
 the name of the wife, no creditor can touch it, under 
 certain restrictions named hereafter ; and while it is a 
 safe, swift, and sure way to accumulate, its benefits may 
 come at a time when money will be sweet. As has been 
 said before, take ten per cent, of your profits and invest 
 them in an endowment policy, and you will never see the 
 day you will regret it ; and you will undoubtedly see the 
 time that you will be truly thankful, whether you are 
 unfortunate or not, that some one has told you of such a 
 plan of accumulating and saving. 
 
 The preceding table gives the rates of the Mutual 
 Life Insurance of New York. 
 
 We give what the Company says of this species of Life 
 Insurance : 
 
 ENDOWMENTS. 
 
 We solicit from the reader a careful consideration of this system. 
 An endowment policy is a double contract, by which the company 
 agrees to pay a certain sum to the person insured at a specified age, 
 with the promise that if he dies before attaining that age, the sum 
 named in the policy shall be paid at once. The plan combines the 
 advantages of a life insurance, a savings bank, and safe invest- 
 ment. It is simply an annual deposit of funds, to be repaid to the 
 depositor with a fair rate of interest at a specified time. It is believed 
 to be better than a deposit in a savings bank, because no creditor 
 can reach a wife's policy, and also because if the assured should 
 die after having made only one payment of premium, his heirs would 
 be entitled to the full sum insured. The system commends itself 
 to wealthy men, and also to persons living upon a stated income, the 
 result of personal labor. 
 
 This is a peculiar feature with this company, as no other com- 
 panies can present the security we offer, or the profits which we are 
 enabled to divide, so as to make the investment a good one to the 
 applicant ; and the rates for such policies are from 10 to 30 per cent, 
 lower than those charged by other and smaller institutions. 
 
 The following endowment policies have been paid to the owners, 
 and it will be seen that they received a surplus above all they had 
 paid to the company, with compound interest at six per cent., and 
 no charge whatever for expenses or cost of insurance meanwhile. 
 
And how to Keep it. 
 
 311 
 
 Endowment Assurances. 
 
 All the Policies of this Class which have matured thus far, are 
 included in the following list. 
 
 
 Number 
 
 Date 
 
 Amount 
 
 Annual 
 Premium. 
 
 
 When 
 raid. 
 
 Amount 
 
 of 
 
 of 
 
 of 
 
 Description. 
 
 paid by the 
 
 Policy. 
 
 Issue. 
 
 Policy. 
 
 
 Company. 
 
 I7826 
 
 1857 
 
 $5,000 
 
 $576 80 
 
 Death or 60 
 
 1865 
 
 $6,634 OI 
 
 18905 
 
 u 
 
 2,000 
 
 253 74 
 
 55 
 
 u 
 
 2,662 80 
 
 19949 
 
 1858 
 
 5,000 
 
 622 87 
 
 50 
 
 u 
 
 6,602 59 
 
 18538 
 
 I8S7 
 
 2,000 
 
 223 88 
 
 55 
 
 1866 
 
 2,705 07 
 
 1 899 1 
 
 u 
 
 2,500 
 
 274 33 
 
 50 
 
 u 
 
 3,354 38 
 
 18992 
 
 il 
 
 2,500 
 
 274 33 
 
 50 
 
 u 
 
 3,467 81 
 
 I8IS3 
 
 a 
 
 5,000 
 
 54i 30 
 
 45 
 
 
 6,711 97 
 
 Let any merchant or trader but read the statistics 
 given heretofore of successes and failures in business 
 and consider whether it is not wise for himself, and espe- 
 cially if he has dependants upon him, to set aside a por- 
 tion of his profits in this way, to guard against a day of 
 misfortune. Is it wise to risk all in business, when you 
 know yourself that things may occur beyond your control 
 that will sweep away all your earnings ? Men cannot 
 control events. There may be accidents or changes that 
 will come upon the most prudent and far-seeing. Then 
 anchor a little while you can ; for even in this enterprise, 
 if you become unable to pay your premiums for the 
 whole time, you will not lose what you have paid, for the 
 company, by an equitable scale, will pay you an equitable 
 amount. We quote what they say on this subject : 
 
 ENDOWMENTS. ON THE TEN YEAR PLAN. 
 
 Payments cease entirely at the end of ten years ; with 
 the privilege of surrendering before the expiration of the ten years, 
 
312 
 
 How to make Money make Money, 
 
 and taking a policy for the proportionate amount. If the holder of a 
 policy for $10,000 on this plan should desire to discontinue the pay- 
 ments of premiums before the end of the ten years, the company 
 will give, on the surrender of the original policy, a similar endow- 
 ment assurance policy paid up in full, which, 
 
 If at the end of two years, shall exceed $2,000 
 
 " " three " " 3,000 
 
 " ". four " " 4,000 
 
 " " five " " 5,000 
 
 " " six " 6,000 
 
 " " seven " " 7,000 
 
 " " eight " " 8,000 
 
 " " nine " " 9,000 
 
 This plan of paying for a policy by a definite number of annual 
 instalments must commend itself to every thoughtful man, as it obvi- 
 ates one of the greatest objections to life insurance, namely, the 
 uncertainty of being able to continue the customary payments of 
 premiums during the later years of life. 
 
 We give the practical working of a Ten Year payment 
 endowment policy, and one in which the premiums are 
 
 " Ten Year " Endowment Assurance Policy for $10,000, issued at 
 age of 35, payable at Death or at 60 years of age. Annual 
 Premium, $691.30. 
 
 
 S3 
 
 ft 
 
 | 
 
 
 
 M& 
 
 ^s 
 
 - 3 
 
 Date. 
 
 n 
 3, 
 
 .2 3 r3 
 
 c <u a 
 
 *o.2 
 
 h 
 
 3 j 
 
 2 
 
 1:1 
 
 
 
 fc a 
 
 II 
 P 
 
 3.J 
 
 If 
 
 < 
 
 23 
 
 
 H 
 
 5 
 
 End of 1 st 
 
 
 
 
 
 
 
 
 Year. 
 
 $185 32 
 
 $505 98 
 
 
 *i8s 32 
 
 $399 66 
 
 $399 66 
 
 $10,399 66 
 
 2d 
 
 198 99 
 
 492 31 
 
 $625 
 
 205 24 
 
 430 91 
 
 830 57 
 
 10.830 57 
 
 3d 
 
 212 92 
 
 478 38 
 
 13 30 
 
 226 22 
 
 462 20 
 
 1,292 77 
 
 11,292 77 
 
 4 th 
 
 227 34 
 
 463 96 
 
 21 18 
 
 248 52 
 
 493 9 
 
 1,786 67 
 
 11,786 67 
 
 5th 
 
 243 38 
 
 447 92 
 
 29 96 
 
 273 34 
 
 528 16 
 
 2,314 83 
 
 12,314 83 
 
 6th 
 
 258 39 
 
 432 91 
 
 39 82 
 
 29S 21 
 
 560 00 
 
 2,874 83 
 
 12,874 83 
 
 7th 
 
 275 3i 
 
 4i5 99 
 
 5i 09 
 
 326 40 
 
 595 46 
 
 3,47 2 9 
 
 13,470 29 
 
 8th 
 
 293 05 
 
 398 2 S 
 
 63 02 
 
 356 07 
 
 630 74 
 
 4.101 03 
 
 14,101 03 
 
 9th 
 
 311 91 
 
 379.39* 
 Nothing. 
 
 76 81 
 
 388 72 
 
 663 37 
 
 4,769 40 
 
 14,769 40 
 
 10th 
 
 33o 67 
 
 91 77 
 
 422 44 
 
 704 74 
 
 5,474 H 
 
 15.474 H 
 
 nth 
 
 197 92 
 
 Nothing. 
 
 108 34 
 
 306 26 
 
 495 52 
 
 5,969 66 
 
 15,969 66 
 
 15th 
 
 219 78 
 
 Nothing. 
 
 165 71 
 
 385 49 
 
 549 5i 
 
 8.088 62 
 
 18,088 62 
 
 16th 
 
 224 95 
 
 Nothing. 
 
 181 99 
 
 406 94 
 
 501 44 
 
 8,650 06 
 
 18,650 06 
 
 20th 
 
 249 49 
 
 Nothing. 
 
 259 67 
 
 509 16 
 
 613 27 
 
 11,020 78 
 
 21,020 78 
 
 2ZSt 
 
 257 10 
 
 Nothing. 
 
 283 34 
 
 540 44 
 
 628 27 
 
 11,649 05 
 
 21.649 05 
 
 24th 
 
 280 86 , 
 
 Nothing. 
 
 362 88 
 
 643 74 
 
 669 48 
 
 13,617 92 
 
 23,617 92 
 
 25th 
 
 288 45 
 
 Nothing 
 
 39i 97 
 
 680 42 
 
 680 42 
 
 14,298 34 
 
 24,298 34 
 
 * The ten years having expired, the premiums are paid up in full, and the annual divi- 
 dends may be used either to increase the amount insured, or as an annual cash income. 
 
And how to Keep it. 
 
 313 
 
 paid during its time in the Mutual Life Insurance Com- 
 pany of New York, upon the basis of dividend of 1866. 
 
 Endowment Assurance Policy for $10,000, issued at age of 35 
 years, payable at Death or at 60 years of age. Annual Pre- 
 mium, $374-30- 
 
 
 
 tap 
 
 a 
 
 '<S . 
 
 | 
 
 H 
 
 
 
 O 
 
 +* (3 
 
 Date. 
 
 T3 O 
 
 3 rJ3 
 
 * S 
 
 0.2 
 
 h 
 
 ><4J 
 
 U 
 
 1 J 
 
 ill 
 
 
 fcjj 
 
 
 
 3 : l 
 
 H 
 
 ""I 
 
 *3 
 
 
 a 
 
 
 ^ a 1 
 
 Q 
 
 H 
 
 < 
 
 8 
 
 5 
 
 End of 1st 
 
 
 
 
 
 
 
 
 Year. 
 
 $102 07 
 
 $272 23 
 
 
 $102 07 
 
 $220 12 
 
 $220 12 
 
 $10,220 12 
 
 2d 
 
 108 93 
 
 265 37 
 
 $3 44 
 
 112 37 
 
 23s 93 
 
 456 05 
 
 10,456 05 
 
 3< L 
 
 US 70 
 
 258 60 
 
 7 30 
 
 123 00 
 
 251 31 
 
 707 36 
 
 10,707 36 
 
 4 th 
 
 122 63 
 
 251 67 
 
 " 59 
 
 134 22 
 
 266 75 
 
 974 " 
 
 10.974 11 
 
 l 
 
 129 83 
 
 244 47 
 
 16 34 
 
 146 17 
 
 282 44 
 
 1,256 55 
 
 11,256 55 
 
 6th 
 
 137 86 
 
 236 44 
 
 21 61 
 
 159 47 
 
 299 47 
 
 1,556 02 
 
 11,556 02 
 
 7th 
 
 8th 
 
 146 18 
 
 228 12 
 
 27 65 
 
 173 83 
 
 317 12 
 
 1,873 14 
 
 11,873 14 
 
 155 3o 
 
 219 00 
 
 34 02 
 
 189 32 
 
 335 37 
 
 2,20S 51 
 
 12,208 51 
 
 9th 
 
 165 32 
 
 208 98 
 
 41 37 
 
 206 69 
 
 355 39 
 
 2,563 90 
 
 12,563 90 
 
 10th 
 
 174 90 
 
 199 40 
 
 49 33 
 
 224 23 
 
 374 07 
 
 2,937 97 
 
 12,937 97 
 
 15th 
 
 224 78 
 
 149 52 
 
 101 57 
 
 326 35 
 
 46s 22 
 
 5,087 02 
 
 15,087 02 
 
 16th 
 
 234 20 
 
 140 10 
 
 114 46 
 
 348 66 
 
 481 02 
 
 5,568 04 
 
 15,56s 04 
 
 20th 
 
 279 02 
 
 95 28 
 
 177 35 
 
 456 37 
 
 549 69 
 
 7,657 97 
 
 17,657 97 
 
 21st 
 
 292 85 
 
 81 45 
 
 196 88 
 
 489 73 
 
 569 33 
 
 8,227 30 
 
 18,227 30 
 
 25th 
 
 350 00 
 
 24 30 
 
 289 89 
 
 639 89 
 
 639 89 
 
 10,688 11 
 
 20,688 11 
 
 We give also an endowment table for children, by 
 which it is claimed a fund can be provided for their col- 
 legiate education, or for the purposes of support. In very 
 many cases this might not only be useful, but necessary. 
 
 We cannot see the benefit of such endowments as 
 compared with a deposit in savings banks, and certainly 
 not as compared with life endowment policies. We 
 cannot see the benefit of any plan of life insurance or 
 endowments where the earnings may be lost at a time 
 when they are the most needed. It would be far better 
 where no life policy exists, to deposit in savings bank, 
 where the earnings would be at command when money 
 is sweet to alleviate distress, and cover the achings of 
 poverty. 
 
3H 
 
 How to make Money make Money, 
 
 Children's Endowment Table. 
 Annual Premiums charged to secure Endowments of $1,000. 
 
 
 Payable at the age of 18. 
 
 Payable at the age of 21. 
 
 Payable at the age of 25 
 
 o 
 
 < 
 
 No pre- 
 
 All Pre- 
 
 No Pre- 
 
 All Pre- 
 
 No Pre- 
 
 All Pre- 
 
 h 
 
 miums re- 
 
 miums ie- 
 
 miums re- 
 
 miums re- 
 
 miums re- 
 
 miums re- 
 
 z 
 
 turned in 
 
 turned in 
 
 turned in 
 
 turned in 
 
 turned in 
 
 turned in 
 
 w 
 
 w 
 
 case of pre- 
 
 case of pre- 
 
 case of pre- 
 
 case of pre- 
 
 case of pre- 
 
 case of pre- 
 
 vious Death. 
 
 vious Death. 
 
 vious Death. 
 
 vious Death. 
 
 vious Death. 
 
 vious Death. 
 
 I 
 
 $4 38 
 
 $4678 
 
 $31 80 
 
 $37 16 
 
 $23 85 
 
 $28 21 
 
 2 
 
 44 77 
 
 50 3 
 
 34 90 
 
 39 64 
 
 25 93 
 
 29 89 
 
 3 
 
 49 52 
 
 54 44 
 
 38 18 
 
 ,42 52 
 
 28 09 
 
 31 81 
 
 4 
 
 54 75 
 
 59 32 
 
 41 71 
 
 45 86 
 
 3 36 
 
 33 99 
 
 5 
 
 60 68 
 
 65 06 
 
 45 60 
 
 49 67 
 
 32 82 
 
 36 44 
 
 b 
 
 67 50 
 
 7i 85 
 
 49 97 
 
 54 07 
 
 35 5 
 
 39 18 
 
 7 
 
 75 52 
 
 79 94 
 
 54 93 
 
 59 13 
 
 38 47 
 
 42 27 
 
 8 
 
 85 13 
 
 8969 
 
 60 65 
 
 65 01 
 
 4i 79 
 
 45 74 
 
 9 
 
 9687 
 
 10 1 66 
 
 67 33 
 
 71 90 
 
 45 54 
 
 49 66 
 
 IO 
 
 in 58 
 
 116 66 
 
 75 24 
 
 80 07 
 
 4980 
 
 54 13 
 
 ii 
 
 130 53 
 
 135 96 
 
 8478 
 
 89 88 
 
 54 7 
 
 59 24 
 
 12 
 
 155 88 
 
 161 71 
 
 96 49 
 
 101 89 
 
 60 39 
 
 65 15 
 
 13 
 
 191 45 
 
 197 78 
 
 in 18 
 
 116 91 
 
 67 06 
 
 72 06 
 
 14 
 
 244 93 
 
 251 89 
 
 130 13 
 
 136 22 
 
 74 99 
 
 80 22 
 
 *s 
 
 
 
 155 49 
 
 161 97 
 
 84 55 
 
 90 03 
 
 16 
 
 
 
 191 10 
 
 198 02 
 
 96 30 
 
 102 01 
 
 *7 
 
 
 
 244 64 
 
 252 09 
 
 in 03 
 
 117 00 
 
 18 
 
 
 
 
 
 130 03 
 
 136 29 
 
 We subjoin the following information for such as might 
 be induced to consider the subject of life insurance favor- 
 ably, as being interesting to them. We take it from the 
 yearly report of the Mutual Life. 
 
 SURRENDER OF POLICIES. 
 
 Should the original motive for effecting an assurance in this 
 company cease before the termination of life, the party may sur- 
 render his policy, provided it has run two years, for an equitable 
 consideration, which may be paid to him in cash by the company 
 on its surrender. Or, if it is found inconvenient to continue the 
 payment of the annual premium, the company will grant a new 
 policy, which, without further payment, will assure to the represen- 
 tatives of the party, at his death, a reversionary sum equivalent to 
 the present value of the policy on surrender. 
 
And how to Keep it. 315 
 
 SPECIAL NOTICE. 
 
 The following rules and usages of the company established by the 
 board, and governing it in its transactions with its agents and the 
 insured, are published for the guidance and information of policy- 
 holders. 
 
 The agreement is mutual, as expressly stipulated in the application 
 and the policy, that unless the premium is paid on or before the day 
 it becomes due, the policy is forfeited and void. 
 
 All premiums are due and payable at the office of the company, in 
 the city of New York, but for the convenience of policy-holders 
 residing at a distance, they may be paid to an agent, but only on the 
 production of a receipt signed by the President or Secretary, who are 
 alone authorized to sign receipts on the part of the company. When 
 receipts are delivered to a policy-holder by an agent, such agent 
 should countersign the same as an evidence of payment to him. 
 
 Agents are not authorized to receive any premium, on the part of 
 the company, unless they shall have been furnished with a receipt 
 therefor, signed by the President or Secretary, as no payment made 
 to an agent, without such receipt being given in return by him, is 
 considered valid by the company. 
 
 Should any policy-holder tender payment of a premium to an 
 agent, for which no receipt has been furnished, the following con- 
 ditional receipt may be given by the agent, and no other : 
 
 " Conditional Receipt. 
 
 Received, , 186 , from 
 
 , $ , stated to be the amount 
 
 of a premium due this day on Policy No. , issued by the 
 Mutual Life Insurance Company of New York, upon the life of 
 , for the sum of $ , and in favor of 
 
 . Said alleged premium is to be held by the 
 undersigned until application can be made to the company to accept 
 the same and forward their receipt. If such receipt be forwarded, 
 this conditional receipt is to be exchanged therefor ; if the com- 
 pany's receipt be not forwarded, the money is to be returned, and 
 this conditional receipt cancelled. 
 
 (Signed) J. D., Agent." 
 
 Agents are not authorized to make, alter, or discharge contracts, 
 waive forfeitures, name an extra rate for special risks, or bind the 
 company in any way, their duties being simply the reception and 
 transmission of applications for policies and premiums under the 
 rules and instructions laid down in their letters of appointment. 
 
 The company may, but solely as an act of grace or courtesy, and 
 when the interests of the company will not be impaired in any way 
 thereby, restore a forfeited policy. WJien a restoration is applied 
 for, the application must invariably be accompanied by a certificate 
 
316 How to make Money make Money, 
 
 as to the health of the person whose life was insured, and at his 
 expense, from a physician acceptable to the company. The agent 
 forwarding such application will be then notified of the decision 
 made in the case. 
 
 In all cases of restorations of forfeited policies, and in all cases 
 where the premium is received after the day on which it became due, 
 although the policy may not have been formally cancelled on the 
 company's books, the renewal or revival of the policy, in whatever 
 form made, will be, in accordance with the decision of the Commis- 
 sioners of Internal Revenue, subject to stamp tax the same as if a 
 new policy had been issued. 
 
 Agents of the company are not, under any circumstances, author- 
 ized to indorse the receipt of premiums on the policy. 
 
 Should the policy-holder so desire, the agent will send the policy 
 and all' previous receipts to this company, and the premiums will 
 then be entered upon it by the President or Secretary, and the policy 
 returned. 
 
 It is entirely optional with the policy-holder to communicate 
 directly with the company or through an agent. If he should elect 
 the latter method, such agent in all communications and payments 
 acts as his representative. 
 
 AN ACT FOR THE BENEFIT OF MARRIED WOMEN IN INSURING 
 THE LIVES OF THEIR HUSBANDS. PASSED MARCH, 1 85 8. 
 
 The People of the State of New York, represented in Senate and 
 Assembly, do enacl as follows : 
 
 1. It shall be lawful for any married woman, by herself, and in 
 her name, or in the name of any third person, with his assent, as her 
 trustee, to cause to be insured, for her sole use, the life of her hus- 
 band, for any definite period, or for the term of his natural life ; and 
 in case of her surviving her husband, the sum or net amount of the 
 insurance becoming due and payable by the terms of the insurance, 
 shall be payable to her, to and for her own use, free from the 
 claims of the representatives of the husband, or of any of his cred- 
 itors ; but such exemption shall not apply where the amount of 
 premium annually paid out of the funds or property of the husband 
 shall exceed three hundred dollars. 
 
 2. In case of the death of the wife before the decease of her 
 husband, the amount of the insurance may be made payable after 
 death to her children, for their use, and to their guardian, if under 
 age. ' 
 
 The author of this work has some explanation to make 
 to his readers why he has spoken of the Mutual Life of 
 New York instead of other companies who may be as 
 good and insure on as favorable or more favorable terms 
 
A /id how to Keep it. 317 
 
 than they. He would say that he has not, directly or in- 
 directly, any interest in any life company in the world, 
 because he is fortunate enough, at present, not to need 
 their aid in the way of insurance. He happens to know 
 the officers of the company, and believes they are all 
 entirely trustworthy, and also knows that it has been the 
 most successful mutual company in the world. He 
 therefore has felt himself bound, in a conscientious dis- 
 charge of duty to his readers, to say what he has 
 without disparagement to any one else. 
 
 Annuities. 
 
 We give tables of rates of. what are called survivor- 
 ship annuities, and annuities on a single life. It will be 
 seen that the survivorship annuities are intended to bene- 
 fit one person only. For this single object; it will be seen to 
 be the cheapest, most effective, and indeed the only method 
 of securing a definite, certain, and permanent support to a 
 surviving wife or nominee. We give what the Mutual 
 Life says of these policies. 
 
 By this plan a husband may secure to his widow the payment (in 
 annual, or, if preferred, in semi-annual or quarterly instalments with- 
 out extra charge) of an annuity sufficient to maintain her in comfort 
 and independence during the remainder of her life. This provision 
 is not only free from the ordinary dangers of investment and of 
 dependence upon designing or inexperienced persons ; but its punc- 
 tual and full payment is secured upon the promises, large resources, 
 and good faith of this institution, which thus, to a certain extent, 
 becomes the guardian or trustee of the survivor : and hence the 
 provision may be considered, humanly speaking, beyond any adverse 
 contingency. 
 
 In the same manner, a parent, sister, or child may, by such a 
 provision, be made independent both of friends and of chanty, when 
 their natural protector shall have been removed by death. 
 
 Although a survivorship annuity is intended for the benefit of one 
 
3 1 8 How to make Money make Money, 
 
 person exclusively, yet a family may be provided for, and more 
 economically than by any other method, by taking a policy for each 
 person separately, with the additional advantage of being able to 
 modify the annuity to suit each individual case. 
 
 In addition, rates of premium are given in the tables on the fol- 
 lowing pages, by which, in case the nominee or person for whom the 
 benefit was intended should diefirs^ all payments made to the Com- 
 pany will be returned to the insurer. This feature is especially 
 recommended. 
 
 The premiums on these policies m,ay be paid annually, semi- 
 annually, or quarterly, or by a single payment. 
 
 Annuities for a single life are not likely to be very 
 popular in this country, where investments in large sums 
 can be made in real estate, bonds and mortgages, State 
 and United States bonds, and bank stocks, at seven pei 
 cent., while the annuities are calculated in the best com- 
 panies on a basis of only four per cent. The companies 
 could undoubtedly do better than this if there was a cer- 
 tainty of money remaining at present interest for a long 
 series of years. It would not be prudent, however, to 
 make such calculations, as money over the water, on the 
 average, does not command as much as this. Persons, 
 however, might find annuities in this country on that 
 basis of interest advantageous, and especially so if they 
 were of strong constitutions, and belonged to a lineage 
 of great longevity. 
 
 Any one can understand the survivorship annuity 
 tables on inspection, as they explain themselves. For 
 the annuity tables on a single life, we will give an 
 example. Suppose you wish to find the rate on a single 
 life at 40 years, on a basis of interest of 6 per cent. 
 Opposite 40 years, and under the line of six per cent., 
 you will find you must pay #12.002 for one dollar of 
 yearly income. 
 
And how to Keep it. 
 
 319 
 
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320 
 
 How to make Money make Money, 
 
 Annual Premiums necessary to secure a Survivorship Annuity of 
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And how to Keep, it. 
 
 321 
 
 Value of Annuities on a Single Life. 
 
 Calculated on a basis of 4, 5, 6, 7, 8, 9, ana 10 per cent. (Carlisle 
 Table of Mortality.) 
 
 Age. 
 
 4 per cent. 
 
 5 per cent. 
 
 6 per cent. 
 
 7 per cent 
 
 8 per cent. 
 
 9 per cent. 
 
 10 per ct 
 
 t 
 
 $16,554 
 
 $13,995 
 
 $12,078 
 
 $10,605 
 
 $9,439 
 
 $8,502 
 
 $7,732 
 
 2 
 
 17,726 
 
 14,983 
 
 12,925 
 
 ",342 
 
 10,088 
 
 9,080 
 
 8.251 
 
 3 
 
 18.715 
 
 15,824 
 
 13,652 
 
 11,978 
 
 10,651 
 
 9,584 
 
 8,705 
 
 4 
 
 19,331 
 
 16,271 
 
 14,042 
 
 12,322 
 
 10,957 
 
 9,858 
 
 8,954 
 
 5 
 
 19,592 
 
 16,590 
 
 14,325 
 
 12,574 
 
 11,184 
 
 10,064 
 
 9,i4i 
 
 6 
 
 19,745 
 
 16,735 
 
 14,460 
 
 12,698 
 
 11,298 
 
 10,168 
 
 9,237 
 
 I 
 
 19,790 
 
 16,790 
 
 14,518 
 
 12.756 
 
 ",354 
 
 10,221 
 
 9.28<7 
 
 9-306 
 
 19,764 
 
 16,786 
 
 14,526 
 
 12,770 
 
 ",37i 
 
 10.240 
 
 9 
 
 19,691 
 
 16,742 
 
 14,500 
 
 12,754 
 
 11,362 
 
 10,236 
 
 9,304 
 
 10 
 
 19,583 
 
 16,669 
 
 14,448 
 
 12,717 
 
 ",334 
 
 10,214 
 
 9,286 
 
 11 
 
 19,458 
 
 16,581 
 
 14,384 
 
 12,669 
 
 11,296 
 
 10,183 
 
 9,261 
 
 12 
 
 19,334 
 
 16,494 
 
 14,321 
 
 12,621 
 
 11259 
 
 10,153 
 
 N 9,238 
 
 13 
 
 19,209 
 
 16,406 
 
 14,257 
 
 12,572 
 
 11,221 
 
 10.123 
 
 9,213 
 
 H 
 
 19,081 
 
 16,316 
 
 14,191 
 
 12,522 
 
 11,182 
 
 10,091 
 
 9,187 
 
 IS 
 
 i8,995 
 
 16,227 
 
 14,126 
 
 12,473 
 
 11,144 
 
 10,061 
 
 9.161 
 
 16 
 
 18,836 
 
 16,144 
 
 14,067 
 
 12,429 
 
 11,111 
 
 10,034 
 
 9,140 
 
 17 
 
 18,721 
 
 16,066 
 
 14,012 
 
 12,389 
 
 11,081 
 
 10,011 
 
 9,122 
 
 8. 
 
 18,606 
 
 15,987 
 
 13,956 
 
 12,348 
 
 11,051 
 
 9,988 
 
 9,104 
 
 19 
 
 18,486 
 
 15.904 
 
 13,897 
 
 12,305 
 
 11,019 
 
 9,963 
 
 9.085 
 
 20 
 
 18.361 
 
 15,817 
 
 13,835 
 
 12,259 
 
 10.985 
 
 9,937 
 
 9,064 
 
 21 
 
 18,231 
 
 15,726 
 
 13,769 
 
 12,210 
 
 10,948 
 
 9,909 
 
 9.041 
 
 22 
 
 18,093 
 
 15,628 
 
 13,697 
 
 12,156 
 
 10,906 
 
 9,876 
 
 9,015 
 
 23 
 
 i7,95o 
 
 15,525 
 
 13,621 
 
 12098 
 
 10,861 
 
 9,841 
 
 8,987 
 
 24 
 
 17,800 
 
 I5,4i7 
 
 13.541 
 
 12,037 
 
 10,813 
 
 9,802 
 
 8,955 
 
 25 
 
 17,644 
 
 15-303 
 
 13,456 
 
 11,972 
 
 10,762 
 
 9,761 
 
 8,921 
 
 26 
 
 17,485 
 
 15,187 
 
 13,368 
 
 11,904 
 
 10,709 
 
 9,718 
 
 8,886 
 
 27 
 
 17,320 
 
 15,065 
 
 13,275 
 
 11,832 
 
 1 10,652 
 
 9,671 
 
 8,847 
 
 28 
 
 i7,i54 
 
 M,942 
 
 13,182 
 
 ",759 
 
 10.594 
 
 9,624 
 
 8,808 
 
 29 
 
 16,996 
 16,852 
 
 14,827 
 
 13,096 
 
 ",693 
 
 10,542 
 
 9,582 
 
 8,773 
 
 30 
 
 14,723 
 
 13,020 
 
 11,636 
 
 10,498 
 
 9,548 
 
 8,747 
 
 3i 
 
 16,705 
 
 14.617 
 
 12,942 
 
 ",578 
 
 10,454 
 
 9,5M 
 
 8,719 
 
 32 
 
 16.552 
 
 14,506 
 
 12,860 
 
 11,516 
 
 10,407 
 
 9,476 
 
 8,690 
 
 33 
 
 16,390 
 
 14387 
 
 12,771 
 
 ",448 
 
 IO-355 
 
 9,435 
 
 8,657 
 
 34 
 
 16,219 
 
 14,260 
 
 12,675 
 
 ">374 
 
 10,297 
 
 9,389 
 
 8619 
 
 35 
 
 16,041 
 
 i4-"7 
 
 12,573 
 
 11,295 
 
 10,235 
 
 9,339 
 
 8.578 
 
 36 
 
 15,855 
 
 13,987 
 
 12,465 
 
 11,211 
 
 10,168 
 
 9.285 
 
 8,534 
 
 37 
 
 15665 
 
 13,843 
 
 12,354 
 
 11,124 
 
 10,098 
 
 9.228 
 
 8.488 
 
 38 
 
 I5-47* 
 
 13,695 
 
 12,239 
 
 ",033 
 
 10.026 
 
 9,169 
 
 8-439 
 
 39 
 
 15.271 
 
 13-542 
 
 12,120 
 
 io.939 
 
 9,950 
 
 9,107 
 
 8,388 
 
 40 
 
 15,073 
 
 13,390 
 
 12,002 
 
 10,845 
 
 9.875 
 
 9,046 
 . 8,991 
 
 8,337 
 
 4i 
 
 14,883 
 
 13,245 
 
 11,890 
 
 10,757 
 
 9.805 
 
 8,292 
 
 42 
 
 14.694 
 
 13,101 
 
 ",779 
 
 10,671 
 
 9.737 
 
 8,937 
 
 8,249 
 
 43 
 
 14,505. 
 
 12.957 
 
 n,668 
 
 10,585 
 
 9,669 
 
 8,883 
 
 8,206 
 
 44 
 
 14.308 
 
 12806 
 
 ",55i 
 
 10,494 
 
 9.597 
 
 8,826 
 
 8,160 
 
 45 
 
 I4 -Io 4 
 
 12.648 
 
 11,428 
 
 10 397 
 
 9.52o 
 
 8.764 
 
 8,111 
 
 46 
 
 13,889 
 
 12,480 
 
 11296 
 
 10,292 
 
 9436 
 
 8,607 
 
 8,056 
 
 2 
 
 13,662 
 
 12,301 
 
 11,154 
 
 10,178 
 
 9,344 
 
 8,622 
 
 7,995 
 
 13,419 
 
 12,107 
 
 10,998 
 
 10.052 
 
 9,241 
 
 8,537 
 
 7,925 
 
 49 
 
 13.153 
 
 11,892 
 
 10,823 
 
 9,9o8 
 
 9.121 
 
 8,437 
 
 7,840 
 
 SO 
 
 12,869 
 
 11,660 
 
 10,631 
 
 9749 
 
 8,987 
 
 8,324 
 
 7-744 
 
 5* 
 
 12,565 
 
 11,410 
 
 10,422 
 
 9,573 
 
 8,838 
 
 8,197 
 
 7,634 
 
322 
 
 How to make Money make Money. 
 
 Value of Annuities on a Single Life. 
 
 Calculated on a basis of 4, 5, 6, 7, 8, 9, and 10 per cent. (Carlisle 
 Table of Mortality.) 
 
 Age. 
 
 4 per cent. 
 
 5 per cent 
 
 6 per cent. 
 
 7 per cent. 
 
 8 per cent. 
 
 9 percent. 
 
 10 per ct. 
 
 52 
 
 $12,257 
 
 $11,154 
 
 $10,208 
 
 $9,392 
 
 $8,684 
 
 $8,064 
 
 $7-5i9 
 
 S3 
 
 ",945 
 
 10,892 
 
 9,988 
 
 9,205 
 
 8,523 
 
 7,926 
 
 7-399 
 
 54 
 
 11,626 
 
 10,624 
 
 9,761 
 
 9,011 
 
 8,356 
 
 7.781 
 
 7272 
 
 55 
 
 11,299 
 
 10,347 
 
 9-524 
 
 8.807 
 
 8.179 
 
 7627 
 
 7,137 
 
 56 
 
 10,966 
 
 10,063 
 
 9,280 
 
 8-595 
 
 7,995 
 
 7,465 
 
 6,994 
 
 57 
 
 10,625 
 
 9,77i 
 
 9,027 
 
 8,375 
 
 7,802 
 
 7,294 
 
 6,843 
 
 58 
 
 10.286 
 
 9,478 
 
 8,772 
 
 8.153 
 
 7,606 
 
 7.120 
 
 6,687 
 
 4 9 
 
 9-963 
 
 9.199 
 
 8,529 
 
 7,940 
 
 7,418 
 
 6954 
 
 6539 
 
 60 
 
 9,663 
 
 8,940 
 
 8,304 
 
 7-743 
 
 9,245 
 
 6,800 
 
 6,402 
 
 61 
 
 9,398 
 
 8,712 
 
 8,108 
 
 7572 
 
 7,095 
 
 6,669 
 
 6285 
 
 62 
 
 9- 136 
 
 8,487 
 
 7>9*3 
 
 7-403 
 
 6-947 
 
 6,539 
 
 6,171 
 
 63 
 
 8,871 
 
 8,258 
 
 7,714 
 
 7229 
 
 6,795 
 
 6,404 
 
 6052 
 
 64 
 
 8,593 
 
 8,016 
 
 7.502 
 
 7.042 
 
 6.630 
 
 6.258 
 
 5-922 
 
 65 
 
 8,307 
 
 7,765 
 
 7,281 
 
 6,847 
 
 6,457 
 
 6,104 
 
 5-784 
 
 66 
 
 8,009 
 
 7,503 
 
 7,049 
 
 6,641 
 
 6,272 
 
 5,938 
 
 5635 
 
 67 
 
 7,699 
 
 7,227 
 
 6,803 
 
 6,421 
 
 6075 
 
 5,76o 
 
 5,474 
 
 68 
 
 7,379 
 
 6,941 
 
 6,546 
 
 6,189 
 
 5-866 
 
 5,57o 
 
 5,301 
 
 69 
 
 7048 
 
 6,643 
 
 5^988 
 
 5,945 
 
 5,643 
 
 5,368 
 
 5, "5 
 
 70 
 
 6,709 
 
 6,336 
 
 5,690 
 
 5,4io 
 
 5-153 
 
 4,918 
 
 7J 
 
 6,357 
 
 6,015 
 
 5,704 
 
 5420 
 
 5.160 
 
 4923 
 
 4.704 
 
 72 
 
 6,025 
 
 5,7" 
 
 5,424 
 
 5,162 
 
 4,922 
 
 4,7oi 
 
 4,498 
 
 73 
 
 5,724 
 
 5,435 
 
 5,170 
 
 4,927 
 
 4,704 
 
 4,499 
 
 4,309 
 
 74 
 
 5,458 
 
 5*190 
 
 4,944 
 
 4.719 
 
 4,5" 
 
 4,319 
 
 4,142 
 
 7 I 
 
 5,239 
 
 4,989 
 
 4,760 
 
 4 549 
 
 4,355 
 
 4,175 
 
 4,008 
 
 76 
 
 5,023 
 
 4,792 
 
 4,579 
 
 4,382 
 
 4,200 
 
 4,031 
 
 3,874 
 
 7 
 
 4,824 
 
 4,609 
 
 4,410 
 
 4227 
 
 4,056 
 
 3,898 
 
 3-751 
 
 78 
 
 4,621 
 
 4,422 
 
 4238 
 
 4,067 
 
 3,908 
 
 3.760 
 
 3,623 
 
 U 
 
 4-393 
 
 4,210 
 
 4040 
 
 3-883 
 
 3,736 
 
 3,599 
 
 3471 
 
 4,182 
 
 4.oi5 
 
 3-853 
 
 3-713 
 
 3,577 
 
 3,45o 
 
 3,33i 
 
 81 
 
 3,953 
 
 3,799 
 
 3,656 
 
 3,523 
 
 3,398 
 
 3,282 
 
 3-I72 
 
 82 
 
 3,746 
 
 3606 
 
 3-474 
 
 3,352 
 
 3,237 
 
 3,i30 
 
 3,029 
 
 83 
 
 3,534 
 
 3,4o6 
 
 3,286 
 
 3,i74 
 
 3,069 
 
 2.970 
 
 2,877 
 
 84 
 
 3,328 
 
 3,211 
 
 3 102 
 
 2,999 
 
 2,903 
 
 2,813 
 
 2,728 
 
 85 
 
 3,"5 
 
 3,009 
 
 2.909 
 
 2,815 
 
 2,727 
 
 2,644 
 
 2,567 
 
 86 
 
 2, 9 2 
 
 2,830 
 
 2,739 
 
 3,652 
 
 2,57i 
 
 2,495 
 
 2,423 
 
 87 
 
 2,775 
 
 2,685 
 
 2,599 
 
 2,519 
 
 2,443 
 
 2,372 
 
 2,304 
 
 88 
 
 2.683 
 
 2,597 
 
 2-515 
 
 2,439 
 
 2,366 
 
 2,299 
 
 2,234 
 
 89 
 
 2,577 
 
 2,495 
 
 2,417 
 
 2,344 
 
 2,276 
 
 2,211 
 
 2,150 
 
 90 
 
 2,416 
 
 2,339 
 
 2,266 
 
 2.198 
 
 2,133 
 
 2,072 
 
 2,015 
 
 9i 
 
 2,398 
 
 2,321 
 
 2,248 
 
 2,180 
 
 2,"5 
 
 2,054 
 
 1,997 
 
 92 
 
 2,491 
 
 2.412 
 
 2,337 
 
 2,266 
 
 2,198 
 
 2,135 
 
 2,075 
 
 93 
 
 2,599 
 
 2,518 
 
 2,440 
 
 2,367 
 
 2,297 
 
 2,232 
 
 2,170 
 
 94 
 
 2,649 
 
 2569 
 
 2,492 
 
 2,419 
 
 2,350 
 
 2284 
 
 2,221 
 
 95 
 
 2.674 
 
 2.596 
 
 2,522 
 
 2,45i 
 
 2,383 
 
 2,319 
 
 2,258 
 
 96 
 
 2,627 
 
 2 555 
 
 2,486 
 
 2,420 
 
 2,358 
 
 2,298 
 
 2,239 
 
 97 
 
 2,492 
 
 2,428 
 
 2,368 
 
 2,309 
 
 2253 
 
 2,199 
 
 2,150 
 
 98 
 
 2,332 
 
 2.278 
 
 2,227 
 
 2,177 
 
 2.129 
 
 2,083 
 
 2.039 
 
 99 
 
 2.087 
 
 2,045 
 
 2,004 
 
 1,964 
 
 1,926 
 
 1,889 
 
 1.856 
 
 100 
 
 1,652 
 
 1,624 
 
 1,596 
 
 1,569 
 
 x,543 
 
 i,5i7 
 
 i,493 
 
 IOX 
 
 1,210 
 
 1,192 
 
 i,i75 
 
 I.I59 
 
 1. 142 
 
 1,127 
 
 1,112 
 
 102 
 
 0,761 
 
 o,7S3 
 
 o,744 
 
 o,735 
 
 0,727 
 
 0,719 
 
 0,713 
 
 103 
 
 0,320 
 
 0,317 
 
 ,3H 
 
 0.312 
 
 0,309 
 
 0,305 
 
 0,304 
 
A Remarkable Volume. 
 
 COSMOGONY; 
 
 OR, THE 
 
 MYSTERIES OF CREATION. 
 
 Being an Analysis of the Natural Facts stated in the 
 
 Hebraic account of the Creation, supported by 
 
 the development of existing acts of 
 
 God towards matter. 
 
 By THOMAS A. DAVIES. 
 
 Octavo. Elegantly bound in cloth. With many Illustrations. 
 Price $2.00. 
 
 TABLE OF CONTENTS. 
 
 Nature the Pathway of God. 
 Hebrew and English. 
 Language. 
 
 The Universal Creation. 
 English Translation. 
 The First Day. 
 Light First Combination. 
 Second Day. 
 Third Day. 
 Combinations. 
 Granite Rock. 
 Theory Considered. 
 Clav Slate. 
 
 Mica and Talc Slates. 
 Stratification. 
 Mineral Fossils. 
 Fossil Sand-Beaches and 
 Shells. 
 
 Limestones. 
 
 Sandstones. 
 
 Coal. 
 
 Inclinations of Rock Forma- 
 tions. 
 
 Boulder Rocks. 
 
 Metals and Precious Stones. 
 
 Quartz Rock. 
 
 Sands, Clays, and Soil. 
 
 Rock Salt and Mineral Re- 
 sins. 
 
 Sulphur. 
 
 Seas, Lakes, Rivers, and 
 Waters. 
 
 Atmospheric Air. 
 
 Vegetable Kingdom. 
 
 Fourth Day. 
 
 Heavenly Bodies. 
 
 Equilibrium. 
 
 Fifth Day. 
 
 Classification of Man and 
 
 Beasts. 
 Sixth Day. 
 
 Ha-a-dam and A-dam. 
 Color of Men. 
 Whites and Blacks. 
 Scriptural Evidences. 
 The Flood. 
 Scriptural Evidences in Plain 
 
 Words. 
 Conclusions from the Six 
 
 Days' Work. 
 Seventh Day. 
 
 [From the New York Observer] 
 " A remarkable book has recently made its appearance in this city, to which we desire to 
 call the attention of the public, especially that portion of the thinking public who are 
 accustomed to read and judge for themselves. . . . . . We have said enough of this 
 
 work to show that it is a work of great labor, much curious and profound study, and worthy 
 of a Christian scholar. He has accomplished a great work ; and if his argu- 
 ment will stand the searching criticism to which biblical literature and modem science will 
 subject it, the author will have the proud satisfaction of knowing that he has made one of 
 the most important contributions of the present day to the wall of defense which is con- 
 stantly becoming more and more impregnable about the written word of God." 
 
 Sold by all Booksellers throughout the United States and 
 Canadas. 
 
 The Publishers will send copies of this book by mail, postage 
 paid, to any part of the United States, on receipt of the price in 
 stamps, $2.00. 
 
 G. W. Carleton & Co., 
 
 Publishers and Booksellers, 
 
 New York. 
 
An Unanswerable Refutation 
 
 OF 
 
 GEOLOGIC THEORIES AS ADVERSE TO 
 CHRISTIAN FAITH. 
 
 Answer to 
 
 HUGH MILLER AND GEOLOGISTS. 
 
 BY , 
 
 THOMAS A. DAVIES. 
 
 CONTENTS. 
 
 The False and True Records. 
 
 Geologic Testimony. 
 
 Kingdoms in Lines of Existences. 
 
 What the Mosaic Account of Creation is. 
 
 Conflict of Geologic Faith with Science and the Scrip- 
 tures. 
 
 The Expunging the Mosaic Account of Creation, and 
 the Substitution of the Geologic by Hugh Miller. 
 
 Forms in the Fossil Kingdom. 
 
 Hugh Miller, Discernible and Revealed. 
 
 Concluding Argument. 
 
 Concluding Argument. Science of the Geologic Faith. 
 
 Concluding Argument. Several Conflicts of the Geolo- 
 gic and Biblical Christian Faith. 
 
 Sold by all Booksellers throughout the United States and 
 Canadas. 
 
 The Publishers will send copies of this book by mail, postage 
 paid, to any part of the United States, on receipt of the price in 
 stamps, $1.50. 
 
 G. W. Carleton & Co., 
 
 Publishers and Booksellers, 
 
 New York. 
 
NEW BOOKS 
 
 And New Editions Recently Published by 
 
 G. W. CARLETON & CO., 
 
 JJTEW YORK. 
 
 GEORGE W. OARUCTOW. HENRY 8. ALLEN. 
 
 N.B. Tire Publishers, upon receipt of the price in advance, will send any of 
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UNIVERSITY OF CALIFORNIA LIBRARY 
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 Return to desk from which borrowed. 
 This book is DUE on the last date stamped below. 
 
 
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 I 
 
 
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