WHERE TO INVEST | AdventAI

Seventh-day Adventist Publishing Association · Battle Creek, Mich. · Oct 25, 1877

WHERE TO INVEST.

The fraudulent transactions of John S. Morton, of Philadelphia, in connection with the Market Street Railway, were but one of a series of frauds and defalcations which have startled and alarmed the community within a month. Three saving banks in Chicago, and the oldest savings bank in Allegheny City, have suspended payment. The depositors in the Chicago institutions will lose heavily. The Allegheny bank it is thought will pay in full. Mr. W. C. Gilman, one of the most respected brokers of New York, has been discovered to have raised large sums of money on fraudulent securities. These defalcations impair confidence, and hinder the return of prosperity. They suggest depths of social corruption underlying the whole fabric of the public welfare, and add to the anxieties and fears of patriots. Christian men who are disposed to hoard their wealth, instead of using it for immediate, incalculable, and imperishable good, may reflect profitably on these revelations in connection with the following paragraph from the Christian Advocate: “Wanted—Somebody to insure fire insurance companies against fire, and life insurance companies against death, and savings banks against too great difficulty in getting the money out of them, and railroads against receivers, and all bonds against too much binding. There is absolutely no security for money. God does not intend to make a sure foundation of trust in this world. There is only one deposit where neither moth nor rust doth corrupt, and where thieves do not break through nor steal.”—Christian Statesman.