PASTOR DAVE’S MUSINGS FROM THE HEARTLAND

January 23, 2022

FISH OR CUT BAIT

In “The Machine Episode” written the closing days of 1890 Mark Twain tells of his being invited to invest in a typesetting machine which had been invented by James W. Paige.  Being impressed by a demonstration of the machine, Twain agreed to invest $2,000.  With just a few refinements the contraption should be ready for mass production.

Over the next ten years Paige would periodically ask Twain for additional funding.  With just a little more work it would be ready.  The original investment of $2,000 grew to $170,000 (more than $3 million in today’s dollars).  Finally in February of 1891 Twain cut his ties with Paige.  The lure of being just on the brink of a great breakthrough had faded.  In the end the Paige typesetting machine was a marvel to behold but impracticable for commercial use.

In The Autobiography of Mark Twain, Volume I there are a plethora of stories of men who were lured by the opportunity to make huge fortunes but who in the end lost everything.  Rather than be satisfied with the good gains they had made, they wanted more.  Many made and lost several fortunes in their lifetime.

Two men who were involved in the big “Bonanza” in Nevada were John Mackay and James G. Fair.  In 1871 they bought control of “Consolidated Virginia Mine” for $26,000.  Two years later their investment was worth $4,860,000, selling for $45 a share.  By January of 1875 the stock was selling for $700 a share.  The experience of these two men encouraged others to follow in their path.  By waiting their fortunes had continue to grow.

Two friends of Twain from his days in Nevada were Joseph T. Goodman and Denis McCarty.  They made their first fortunes when people began to flock to Virginia City.  The fortunes were lost almost as quickly as they had been gained when Nevada became a state.  They would have done well to sell out their holdings when Virginia City was booming.  But they waited, hoping for even greater wealth, in the process losing everything.

Later, Joe Goodman who had inside information helped McCarty get in early on the big “Bonanza.”  Joe told Denis that he would also tell him when it was time to sell.  The day came when Goodman told McCarty he should sell.  By doing so he would make a $600,000 profit.  Denis refused, thinking the investment would increase in value.  And so it did, reaching $900,000.  Once again Denis was advised to sell.  Once again he refused, waiting until the profit might reach a million.  Unfortunately, very quickly the value of the investment began to drop.  Goodman sold when he could still make a $600,000 profit.  McCarty continue to wait and in the end lost everything.

Paul’s missionary journeys as recorded in the Book of Acts follow a common pattern.  Paul arrives in a new town, goes to the local synagogue, and begins to share the good news of Jesus Christ.  Opposition develops, Paul leaves, and sets up shop somewhere else.  If things go well, the apostle stays long enough to establish a Christian community.  If they do not, he brushes the dust of the town off his shoes and moves on.

Paul had the ability to know when it was to time to fish and when it was time to cut bait.  Denis McCarty never acquired this trait.  He only knew how to fish.  He lived with the illusion of what might be rather than accept the reality of actually was.  Mark Twain took ten years before he cut bait, even though there indications that he should have done it many years before.

Knowing when it is time to fish and when it is time to cut bait is not always easy to discern.  There is  the tendency for “if only” to blur out “what actually is.”  Twain finally reached the point where enough was enough.  The decision to fish or cut bait is a part of the fabric of the human experience.  May the great fisherman help all of us decide wisely.