If a man has plenty of money, he ought to invest something in everything
that appears to promise success, and that will probably benefit mankind;
but let the sums thus invested be moderate in amount, and never let a
man foolishly jeopardize a fortune that he has earned in a legitimate
way, by investing it in things in which he has had no experience.
DON'T INDORSE WITHOUT SECURITY
I hold that no man ought ever to indorse a note or become security, for
any man, be it his father or brother, to a greater extent than he can
afford to lose and care nothing about, without taking good security.
Here is a man that is worth twenty thousand dollars; he is doing a
thriving manufacturing or mercantile trade; you are retired and living
on your money; he comes to you and says:
"You are aware that I am worth twenty thousand dollars, and don't owe a
dollar; if I had five thousand dollars in cash, I could purchase a
particular lot of goods and double my money in a couple of months; will
you indorse my note for that amount?"
You reflect that he is worth twenty thousand dollars, and you incur no
risk by endorsing his note; you like to accommodate him, and you lend
your name without taking the precaution of getting security. Shortly
after, he shows you the note with your endorsement canceled, and tells
you, probably truly, "that he made the profit that he expected by the
operation," you reflect that you have done a good action, and the
thought makes you feel happy.
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