It may be said, however, that the safest general rule is to be content with a moderate rate of interest. From 3 1/2 to 5 per cent. is all that can now be looked for in securities which will require no watching on the part of the holder. One per cent. more return on an investment usually means at least 10 per cent. more risk of losing the principal. The days of large returns on securities offered to the general public are over, and all flaming advertisements or well-written circulars which promise high rates of interest should be passed by as little better than frauds.

An investor should never allow himself to be hurried into buying anything on the ground that if he does not buy at once the opportunity will be gone. He should take time to see the property or to read the document. This may save him much time, worry, and loss. It is wise not to put too many eggs into one basket, and not to buy when everyone else seems to be buying the same thing. Above all, he should never expect something for nothing. Anything that can be got for nothing in the business world is pretty sure to be worth nothing, but to cost something in the end.

The rate of interest on investments has been steadily declining for many years, but is now, in my opinion, as low as it is likely to go for many years to come. We are only beginning to realize the tremendous resources of our country, and until they have been fully developed, capital will continue to bring fair returns.

$_______

Chicago_______________________1914-________________ after date_________promise to pay to the order of The First National Bank Of Chicago.

At Their Office_______________________________________________________________________dollars, Far Value Received, With Interest At The Rate Of

------------per cent. per annum, after____________ having deposited with maid Bank a* collateral security, for payment of this or any other liability or liabilities of________to the legal holder hereof, due or to become due, or that may be hereafter contracted or existing, howsoever acquired by said legal holder, the following property, viz.:

The market value of which is now $___________; with the right to call for additional security should the same decline; and failure to respond, this obligation shall be deemed to be due and payable on demand, with full power and authority to sell and assign and deliver the whole of said property, or any part thereof, or any substitute therefor, or any additions thereto, at any Brokers' Board, or at public or private sale, at the option of said legal holder, or its assigns, and with the right to be purchasers themselves, at such Brokers' Board, or public sale, on the non-performance of this promise, or the non-payment of any of the liabilities above mentioned, or at any time or times thereafter, without advertisement or notice. And after deducting all legal or other costs and expenses for collection, sale and delivery, to apply the residue of the proceeds of such sale or sales so to be made, to pay any, either or all of said liabilities, as said legal holder shall deem proper, returning the overplus to the undersigned. In case of the insolvency of the undersigned, any indebtedness due from the legal holder hereof to the undersigned may be appropriated and applied hereon at any time, as well before as after the maturity hereof Collateral Note.