The Way To Wealth - Chapter 3

 

The Way To Wealth by Benjamin Franklin

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Chapter 3

 

So much for industry my friends and attention to one's own business, but to these we must add frugality if we would make our industry more certainly successful.

A man may, if he knows not how to save as he gets,  keep his nose all his life to the grindstone and die not worth a froat at last

"A fat kitchen maketh a lean will" and "many states are spent in the getting, since women for tea forsook spinning and knitting, and Men for punch forsook hewing and splitting

If you would be wealthy think of saving as well as getting.

The Indies have not made Spain rich because her out- goes are greater than her incomes;  away then with your expensive follies and you will not have then so much reason to complain of hard times, heavy taxes and chargeable families;

"for women and wine,  game and deceit make the wealth small and the want great" and farther "what maintains one vice,  would bring up two children"

You may think perhaps that a little tea or a little punch now and then; diet a little more costly,  clothes a little finer,  and a little entertainment now and then can be no great matter but remember:

"Many a little makes a mickle"

Beware of little expenses, "a small leak will sink a great ship"  as poor Richard says, and again "Who dainties love shall beggars prove" and moreover "fools make feasts and wise men eat them"

Here you are all got together at this sale of fineries and knickknacks. You call them goods, but if you do not take care, they prove evils to each of you. You expect they would be sold cheap and perhaps they may be bought for less than they cost but if you have no occasion for them, they must be dear to you.

Remember what poor Richard says, "Buy what thou hast no need of and ere belong, thou shalt sell thy necessaries" and again "at a great penny worth pause a while" He means that perhaps the cheapest is apparent only and not real or the bargain by strengthening thee in thy business may do thee more harm than good. For in another place he says. "Many have been ruined by buying good penny worths"

Again "It is foolish to layout money in a purchase of repentance" and yet this folly is practiced every day at auctions for want of minding the Almanack.

Many a one for the sake of finery on the back have gone with a hungry belly and half starved their families; "silks and satins, scarlets and velvets put out the kitchen fire" as poor Richard says. These are not the necessaries of life, they can scarcely be called the conveniences.

And yet only because they look pretty, how many want to have them?

By these and other extravagancies, the genteel are reduced to poverty and forced to borrow of those who they formerly despised, but who through industry and frugality have maintained their standing in which case it appears plainly that a "plough man on his legs is higher than a gentleman on his knees" as poor Richard says.

Perhaps they have had a small estate left them, which they knew not the getting of and they think "it is day and never will be night," that a little to be spent out of so much is not worth minding But always taking out of the meal tub and not putting in soon comes to the bottom, as poor Richard says and then when the well is dry, they know the worth of water. But this they might have known before if they had taken this advice "if you must know the value of money, go and try to borrow some; "for he that goes a borrowing goes a sorrowing" as poor Richard says and indeed so does he that lends to such people when he goes to get it again. Poor Dick further advises and says

"Fond pride of dress is sure a very curse, ere you consult fancy, consult your purse"

And again, "pride is as loud a beggar as want and a great deal more saucy"

When you have bought one fine thing, you must buy ten more that your appearance maybe all of a piece but poor Dick says "it is easier to suppress the first desire than to satisfy all that follow it"

And "it is truly folly for the poor to ape the rich,  as for the frog to swell in order to equal the ox"

"Vessels large may venture more, but little boats should keep near shore"

It is however a folly soon punished, for as poor Richard says "Pride that dines on vanity sups on contempt", "pride breakfasted with plenty, dined with poverty and supped with infamy"

And after all of what use is this pride of appearance for which so much is suffered? It cannot promote health nor ease pain, it makes no increase of merit in the person, it creates envy, it hastens misfortune. But what madness it must be to run in debt for these superfluities

We are offered by the terms of this sale 6 months credit, and that perhaps has induced some of us to attend it because we cannot spare the ready money and hope now to be fine without it. But ah! think what you do when you run into debt, you give to another power over your liberty. If you cannot pay on time, you would be ashamed to see your creditor, you will be in fear when you speak to him, you will make poor pitiful sneaking excuses and by degrees come to lose your veracity and sink into base downright lying. "For the second vice is lying, the first is running into debt" as poor Richard says, and again to the same purpose, "lying rides upon debt's back" Whereas a free-born English man ought not to be ashamed nor afraid to see or speak to any man living but poverty often deprives a man of all spirit and virtue. "It is hard for an empty bag to stand upright"

What would you think of that Prince or that Government who should issue an edict forbidding you to dress like a Gentleman or Gentlewoman on pain of imprisonment or servitude?

Would you not say you were free, have a right to dress as you please, and such an edict would be a breach to your priviledges and such a Government tyrannical? And yet you are about to put yourself under that tyranny when you run in debt for such dress. Your creditor has the authority at his pleasure to deprive you of your liberty by confining you in goal for life or by selling you as a servant if you should not be able to pay him.

When you have got your bargain, you may perhaps think a little of payment but as poor Richard says "Creditors have better memories than debtors, creditors are a superstitious sect, great observers of set days and times"

The day comes round before you are aware and the demand is made before you are able to satisfy it, or if you bear your debt in mind, the term which at first seemed so long, will as it lessens appear extremely short.

Time will seem to have added wings to its heels as well as its shoulders.

"Those have a short lent who owe money to be paid at Easter" as poor Richard says.

At present perhaps you may think yourselves in thriving circumstances, and that you can bear a little extravagance without injury, but 

"for age and want, save while you may, no morning sun lasts a whole day"

Gain maybe temporary and uncertain but ever while you live, expense is constant and certain but "it is easier to build two chimnies than to keep one in fuel" as poor Richard says

So rather go to bed supperless than rise in debt.

"Get what you can, and what you get hold

Tis the stone that will turn all your lead into gold"

And when you have got the Philosopher's stone, sure you will no longer complain of bad times or the difficulty of paying taxes.

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