39 



of his aims ; and by the second, he would certainly 

 postpone the prospect to such an indefinite period, 

 that his grandchildren might never live to derive 

 any advantage from the result. For, supposing 

 Jones to be a good man of business and competent 

 to manage his own affairs, he would at once under- 

 stand, that people with money would require a far 

 better guarantee, Jirst, for the existence of the untold 

 wealth, and second, for the cost of producing and 

 bringing it to market, than was contained in his 

 simple assurance, before they could be induced to 

 withdraw their capital from undertakings in which, 

 if the profit were small, the security was unexcep- 

 tionable, to invest it in operations undertaken for 

 the improvement of an estate, separated by an im- 

 mense distance from their supervision and control 

 or before they would themselves leave .their homes 

 and set out with their capital to his assistance. If 

 he were a cautious man, too, he would foresee, that 

 even if a few responded to his invitation and failed, 

 as almost all pioneers do, it would damage the credit 

 of his scheme, and thus materially injure his pros- 

 pect of success. He would further be aware, that 

 careful speculators would view a prospectus holding 

 out prospects of brilliant success, but unsupported 

 by satisfactory data, with much suspicion, and would 

 naturally argue somewhat in this wise. ' How is it 

 if these speculations which Jones wishes to float on 

 the market, will eventually afford dividends unheard 

 of in Europe, that he does not work them, himself?' 



