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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 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 indorsement 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 indorse 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 indorse 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 indorser； 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 speculation has seized him； he sees others making large sums in this way （we seldom hear of the loser）； and； like other speculators； he 〃looks for his money where he loses it。〃 He tries again。 Indorsing notes has become chronic with you； and at every loss he gets your signature for whatever amount he wants。 Finally you discover your friend has lost all of his property and all of yours。 You are overwhelmed with astonishment and grief； and you say 〃it is a hard thing； my friend here has ruined me；〃 but； you should add； 〃I have also ruined him。〃 If you had said in the first place； 〃I will accommodate you； but I never indorse without taking ample security；〃 he could not have gone beyond the length of his tether； and he would never have been tempted away from his legitimate business。 It is a very dangerous thing； therefore； at any time； to let people get possession of money too easily； it tempts them to hazardous speculations； if nothing more。 Solomon truly said； 〃He that hateth suretiship is sure。〃
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 Samson when shorn of his lockshis 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。
When a man is in the right path he must persevere。 I speak of this because there are some persons who are 〃born tired；〃 naturally lazy and possessing no self…reliance and no perseverance。 But they can cultivate these qualities； as Davy Crockett said：
〃This thing remember； when I am dead； Be sure you are right； then go ahead。〃
It is this go…aheaditiveness； this determination not to let the 〃horrors〃 or the 〃blues〃 take possession of you； so as to make you relax your energies in the struggle for independence； which you must cultivate。
How many have almost reached the goal of their ambition； but； losing faith in themselves； have relaxed their energies； and the golden prize has been lost forever。
It is； no doubt； often true； as Shakespeare says：
〃There is a tide in the affairs of men； Which； taken at the flood； leads on to fortune。〃
If you hesitate； some bolder hand will stretch out before you and get the prize。 Remember the proverb of Solomon： 〃He becometh poor that dealeth with a slack hand； but the hand of the diligent maketh rich。〃
Perseverance is sometimes but another word for self…reliance。 Many persons naturally look on the dark side of life； and borrow trouble。 They are born so。 Then they ask for advice； and they will be governed by one wind and blown by another； and cannot rely upon themselves。 Until you can get so that you can rely upon yourself； you need not expect to succeed。 I have known men； personally； who have met with pecuniary reverses； and absolutely committed suicide； because they thought they could never overcome their misfortune。 But I have known others who have met more serious financial difficulties； and have bridged them over by simple perseverance； aided by a firm belief that they were doing justly； and that Providence would 〃overcome evil with good。〃
Learn something useful。 Every man should make his son or daughter learn some trade or profession； so that in these days of changing fortunesof being rich to…day and poor to…morrowthey may have something tangible to fall back upon