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For age and want save while you may;
Gain may be temporary and uncertain, but ever, while you live, expense is constant and certain ; and it is easier to build two chimneys than to keep one fuel,' as poor Richard says : so rather go to bed supperless than rise in debt.'
Get what you can, and what you get hold :
And when you have got the philosopher's stone, sure you will no longer complain of bad times, or the difficulty of paying taxes.
“ IV. This doctrine, my friends, is reason and wisdom : but, after all, do not depend too much upon your own industry, and frugality, and prudence, though excellent things; for they may all be blasted, without the blessing of Heaven: and therefore ask that blessing humbly; and be not uncharitable to those that at present seem to want it, but comfort and help them. Remember Job suffered, and was afterwards prosperous.
“ And now, to conclude, - Experience keeps a dear school, but fools will learn in no other,' as poor Richard says, and scarce in that ; for it is true - we may give advice, but we cannot give conduct; however, remember this: 'they that will not be counselled cannot be helped ;' and farther, that if you will not hear Reason, she will surely rap your knuckles,' as poor Richard says."
Thus the old gentleman ended his harangue. The people heard it, and approved the doctrine; and immediately practised the contrary, just as if it had been a common sermon; for the auction opened, and they began to buy extravagantly. I found the good man had thoroughly studied my almanacs, and digested all I had dropped on those topics during the course of twenty-five years. The frequent mention Le made of me must have tired any one else ; but my vanity was wonderfully delighted with it, though I was conscious that not a tenth part of the wisdom was my own which he ascribed to me, but rather the gleanings that I had made of the sense of all ages and nations. However, I resolved to be the better for the echo vf it; and though I had at first determined to buy stuff for a new coat, I went away, resolved to wear my old one a little longer. Reader, if thou wilt do the same, thy profit will be as great as mine. I am, as ever, thine to serve thee,
NECESSARY HINTS TO TIIOSE THAT WOULD BE
Written anno 1736,
The use of money is all the advantage there is in having money.
For six pounds a year you may have the use of one hundred pounds, provided you are a man of known prudence and honesty. He that spends a groat a day idly, spends idly
above six pounds a year, which is the price for the use of one hundred pounds.
He that wastes idly a groat's worth of his time per day, one day with another, wastes the privilege of using one hundred pounds each day.
He that idly loses five shillings worth of time, loses five shillings, and might as prudently throw five shillings into the sea,
He that loses five shillings, not only loses that sum, but all the advantage that might be made by turning it in dealing, which, by the time that a young man becomes old, will amount to a considerable sum of money.
Again : he that sells upon credit, asks a price for what he s-lls equivalent to the principal and interest of his money for the time he is to be kept out of it; thereiore, he that buys upon credit pays interest for what he huys; and be that pays ready money, might let that money out to use : so that he that possesses any thing he has bought, pays interest for the use of it.
Yet, in buying goods, it is best to pay ready money, because he that sells upon credit, expects to lose five per cent. by bad debts ; therefore he charges on all he sells upon credit, an advance that shall make up that deficiency.
Those who pay for what they buy upon credit, pay their share of this advance.
He that pays ready money, escapes, or may escape, that charge.
A penny sa ved is twopence clear;
ADVICE TO A YOUNG TRADESMAN.
Written anno 1748.
To my friend A. B.
As you have desired it of me, I write the following hints, which
have been of service to me, and may, if observed, be so to you.
REMEMBER that time is money. He that can earn ten shillings a day by his labour, and goes abroad, or sits idle one half of that day, though he spends but sixpence during his diversion or idleness, ought not to reckon that the only expense; he has really spent, or rather thrown away, five shillings besides.
Remember that credit is money. If a man lets his money lie in my hands after it is due, he gives me the interest, or so much as I can make of it, during that time. This amounts to a considerable sum where a man has good and large credit, and makes good use of it.
Remember that money is of a prolific generating nature. Money can beget money, and its offspring can beget more, and so on. Five shillings turned is six, turned again it is seven and threepence, and so on, till it becomes an hundred pounds. The inore there is of it, the more it produces every turning, so that the profits rise quicker and quicker. He that kills a breeding sow destroys all her offspring to the thousandth generation. He that murders a crown
destroys all that it might have produced, even scores of pounds.
Remember that six pounds a year is but a groat a day. For this little sum (which may be daily wasted either in time or expense unperceived) a man of credit may, on his own security, have the constant possession and use of an hundred pounds. So much in stock, briskly turned by an industrious man, produces great advantage.
Remember this saying, “ the good paymaster is lord of another man's purse.” He that is known to pay punctually and exactly to the time he promises, may, at any time, and on any occasion, raise all the money his friends can spare. This is sometimes of great use. After industry and frugality, nothing contributes more to the raising of a young man in the world than punctuality and justice in all his dealings : therefore never keep borrowed money an hour beyond the time you promised, lest a disappointment shut up your friend's purse for ever.
The most trilling actions that affect a man's credit are to be regarded. The sound of your hammer at five in the morning, or nine at night, heard by a creditor, makes him easy six months longer: but if he sees you at a billiard table, or hears your voice at a tavern, when you should be at work, he sends for his money the next day--demands it before he can receive it in a lump.
It shows, besides, that you are mindful of what you owe; it makes you appear a careful as well as an honest man, and that still increases your credit.