Gilt-edged securities are all very well; but men do not make their fortunes out of gilt-edged securities. Gilt-edged securities may suit those whose circumstances compel them to husband jealously their meagre savings; but the big dividends are made out of the risky speculations. There are investments in which a man cannot, by any possibility, lose his treasure, and in which he must, with mathematical certainty, reap a modest margin of profit. And, on the other hand, there are investments in which a man may, quite easily, lose every penny that he hazards, but in which he may, quite conceivably, make a perfectly golden haul. An Eastern sage with a well-established reputation for wisdom urges us to venture fearlessly at times upon these more perilous but more profitable ventures, 'Cast thy bread,' he says, 'upon the waters.' The man who believes in gilt-edged securities will prefer to cast it upon the land. The land is a fixture. The land does not float away or fly away or fade away. You find it where you left it. It is stable, substantial, secure. Because of its fixity, men trust it. For thousands of years it was the bank of the nations. Men hid their treasures in fields, as many a lucky finder afterwards discovered to his delight. But the waters! Cast thy bread upon the waters! The waters are the very emblem of all that is fickle, variable and inconstant. They ebb and they flow; they rise and they fall; they are restless, unstable, fluctuating. They suck down into their dark depths the treasures confided to their care and leave no trace upon the surface of the hiding-place in which the booty lies concealed. The waters! Cast thy bread upon the waters! The man who believes only in gilt-edged securities shakes his head. This is no investment for him. But the man who can afford to take desperate hazards pricks up his ears.

'The waters!' he exclaims. 'He tells me to cast my bread upon the waters! It is the last place in the world to which I should have thought of casting it! But I shall venture!'

And he becomes immensely rich in consequence.