Struggles and Triumphs, P. T. Barnum [good books to read in english .txt] 📗

Irish pilot, on one occasion when the captain, thinking he was considerably out of his course, asked, “Are you certain you understand what you are doing?”

Pat replied, “Sure and I knows every rock in the channel.”

That moment “bang” thumped the vessel against a rock.

“Ah! be jabers, and that is one of ’em,” continued the pilot. But to return to the dining-room. “Pat,” said the landlord, “here we do everything systematically. You must first give the gentlemen each a plate of soup, and when they finish that, ask them what they will have next.”

Pat replied, “Ah! an’ I understand parfectly the vartues of shystem.”

Very soon in came the guests. The plates of soup were placed before them. One of Pat’s two gentlemen ate his soup, the other did not care for it. He said “Waiter, take this plate away and bring me some fish.” Pat looked at the untasted plate of soup, and remembering the injunctions of the landlord in regard to “system,” replied:

“Not till ye have ate yer supe!”

Of course that was carrying “system” entirely too far.

Read the newspapers.⁠—Always take a trustworthy newspaper and thus keep thoroughly posted in regard to the transactions of the world. He who is without a newspaper is cut off from his species. In these days of telegraphs and steam, many important inventions and improvements in every branch of trade are being made, and he who don’t consult the newspapers will soon find himself and his business left out in the cold.

Beware of “outside operations.”⁠—We sometimes see men who have obtained fortunes, suddenly become poor. In many cases this arises from intemperance, and often from gaming, and other bad habits. Frequently it occurs because a man has been engaged in “outside operations,” of some sort. When he gets rich in his legitimate business, he is told of a grand speculation where he can make a score of thousands. He is constantly flattered by his friends, who tell him that he is born lucky, that everything he touches turns into gold. Now if he forgets that his economical habits, his rectitude of conduct and a personal attention to a business which he understood, caused his success in life, he will listen to the siren voices. He says:

“I will put in twenty thousand dollars. I have been lucky, and my good luck will soon bring me back sixty thousand dollars.”

A few days elapse and it is discovered he must put in ten thousand dollars more; soon after he is told “it is all right,” but certain matters not foreseen require an advance of twenty thousand dollars more, which will bring him a rich harvest; but before the time comes around to realize, the bubble bursts, he loses all he is possessed of, and then he learns what he ought to have known at the first, that however successful a man may be in his own business, if he turns from that and engages in a business which he don’t understand he is like Sampson when shorn of his locks⁠—his strength has departed, and he becomes like other men.

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 endorse without security.⁠—I hold that no man ought ever to endorse 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 endorse my note for that amount?”

You reflect that he is worth twenty thousand dollars, and you incur no risk by indorsing 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 cancelled, 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. By and by, the same thing occurs again, and you do it again; you have already fixed the impression in your mind that it is perfectly safe to endorse his notes without security.

But the trouble is, this man is getting money too easily. He has only to take your note to the bank, get it discounted and take the cash. He gets money for the time being without effort; without inconvenience to himself. Now mark the result. He sees a chance for speculation outside of his business. A temporary investment of only $10,000 is required. It is sure to come back before a note at the bank would be due. He places a note for that amount before you. You sign it almost mechanically. Being firmly convinced that your friend is responsible and trustworthy, you endorse his notes as “a matter of course.”

Unfortunately the speculation does not come to a head quite so soon as was expected, and another $10,000 note must be discounted to take up the last one when due. Before this note matures the speculation has proved an utter failure and all the money is lost. Does the loser tell his friend, the endorser, that he has lost half of his fortune? Not at all. He don’t even mention that he has speculated at all. But he has got excited; the spirit of