File:The Saturday evening post (1920) (14781879791).jpg

Identifier: saturdayeveningp1933unse (find matches)
Title: The Saturday evening post
Year: 1839 (1830s)
Authors:
Subjects:
Publisher: Philadelphia : G. Graham
Contributing Library: University of Illinois Urbana-Champaign
Digitizing Sponsor: University of Illinois Urbana-Champaign

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s at home a minute description of it thatevening. The day on which the bank messenger made hisfinal payment and received the bond was about the biggestday, it seemed to him, that he had ever known. Of coursehe carried the bond home and showed it to his family andlater to his most intimate friends. He liked the sensationof being a capitalist so well that he talked the gospel ofgood investment to almost everyone with whom he cameinto intimate contact. The result has been that he hasbrought to the bond house from which he made hisoriginal purchase more than forty thousand dollars worthof business. This little story is not a convenient parable concoctedfor the purpose of illustrating the revolution which hastaken place in this country with respect to the financing ofindustry from the savings of small people; it is the recitalof an actual occurrence which could easily be substan-tiated if necessary. But if it were a parable it could notmore perfectly express the new attitude of the sellers
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of real securities toward Americas new crop of curb-stone capitalists, the attitude of the raw recruit to theranks of bond buyers, or the economic emergencyof the country which has compelled the purveyors ofsecurities, who have heretofore held the opinion that thecapital with which to finance industry had to come fromthe coffers of the rich instead of the savings of the prudentpoor, to go out into the highways and hedges and beat thebushes for buyers of high-class bonds and stocks. This little incident suggests almost the entire range ofreadjustments which the World War has injected into thefield of finance in this country. One of the most marked and significant points of differ-ence between the old-time buyer of securities and the rawrecruit is sharply sketched by this incident of the bankmessenger and the alert bond salesman. This is the factthat as a missionary of the gospel of good investments inindustrial, municipal or public-utilities securities the freshrecruit drawn from the r

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