Echoes

No country can long endure if its foundations are not laid deep in the material prosperity which comes from thrift, from business energy and enterprise, from hard, unsparing effort in the fields of industrial activity; but neither was any nation ever yet truly great if it relied upon material prosperity alone. All honor must be paid to the architects of our material prosperity, to the great captains of industry who have built our factories and our railroads, to the strong men who toil for wealth with brain or hand; for great is the debt of the nation to these and their kind. But our debt is yet greater to the men whose highest type is to be found in a statesman like Lincoln, a soldier like Grant. They showed by their lives that they recognized the law of work, the law of strife; they toiled to win a competence for themselves and those dependent upon them; but they recognized that there were yet other and even loftier duties—duties to the nation and duties to the race. We cannot sit huddled within our own borders and avow ourselves merely an assemblage of well-to-do hucksters who care nothing for what happens beyond. Such a policy would defeat even its own end; for as the nations grow to have ever wider and wider interests, and are brought into closer and closer contact, if we are to hold our own in the struggle for naval and commercial supremacy, we must build up our power without our own borders. We must build the Isthmian Canal, and we must grasp the points of vantage which will enable us to have our say in deciding the destiny of the oceans of the East and the West.

The way to wealth is as plain as the way to market. It depends chiefly on two words: industry and frugality — that is, waste neither time nor money, but make the best use of both.

Accumulated wealth is saved by spending, just as incoming fresh water is saved by letting out stagnant water.

I believe that material wealth is an exceedingly valuable servant, and a particularly abhorrent master, in our National life. I think one end of government should be to achieve prosperity; but it should follow this end chiefly to serve an even higher and more important end - that of promoting the character and welfare of the average man. In the long run, and inevitably, the actual control of the government will be determined by the chief end which the government subserves. If the end and aim of government action is merely to accumulate general material prosperity, treating such prosperity as an end in itself and not as a means, then it is inevitable that material wealth and the masters of that wealth will dominate and control the course of national action. If, on the other hand, the achievement of material wealth is treated, not as an end of government, but as a thing of great value, it is true—so valuable as to be indispensable—but of value only in connection with the achievement of other ends, then we are free to seek through our government, and through the supervision of our individual activities, the realization of a true democracy. Then we are free to seek not only the heaping up of material wealth, but a wise and generous distribution of such wealth so as to diminish grinding poverty, and, so far as may be, to equalize social and economic no less than political opportunity.

No society can surely be flourishing and happy, of which the greater part of the members are poor and miserable. It is but equity, besides, that they who feed, cloath and lodge the whole body of the people, should have such a share of the produce of their own labour as to be themselves tolerably well fed, clothed, and lodged.

It had long since come to my attention that people of accomplishment rarely sat back and let things happen to them.

The problem of our age is the proper administration of wealth, so that the ties of brotherhood may still bind together the rich and poor in harmonious relationship.

We cannot, if we would, play the part of China, and be content to rot by inches in ignoble ease within our borders, taking no interest in what goes on beyond them, sunk in a scrambling commercialism; heedless of the higher life, the life of aspiration, of toil and risk, busying ourselves only with the wants of our bodies for the day, until suddenly we should find, beyond a shadow of question, what China has already found, that in this world the nation that has trained itself to a career of unwarlike and isolated ease is bound, in the end, to go down before other nations which have not lost the manly and adventurous qualities. If we are to be a really great people, we must strive in good faith to play a great part in the world.

Resolve not to be poor: whatever you have, spend less. Poverty is a great enemy to human happiness; it certainly destroys liberty, and it makes some virtues impracticable, and others extremely difficult.

Resolve not to be poor: whatever you have, spend less. Poverty is a great enemy to human happiness; it certainly destroys liberty, and it makes some virtues impracticable, and others extremely difficult.

Such, in my opinion, is the true Gospel concerning Wealth, obedience to which is destined some day to solve the problem of the Rich and the Poor, and to bring "Peace on earth, among men Good Will."

Do the thing, and you shall have the power; but they who do not do the thing have not the power.

A life of slothful ease, a life of that peace which springs merely from lack either of desire or of power to strive after great things, is as little worthy of a nation as of an individual. [...] If you are rich and are worth your salt, you will teach your sons that though they may have leisure, it is not to be spent in idleness; for wisely used leisure merely means that those who possess it, being free from the necessity of working for their livelihood, are all the more bound to carry on some kind of non-remunerative work in science, in letters, in art, in exploration, in historical research—work of the type we most need in this country, the successful carrying out of which reflects most honor upon the nation. We do not admire the man of timid peace. We admire the man who embodies victorious effort; the man who never wrongs his neighbor, who is prompt to help a friend, but who has those virile qualities necessary to win in the stern strife of actual life. It is hard to fail, but it is worse never to have tried to succeed. In this life we get nothing save by effort. Freedom from effort in the present merely means that there has been stored up effort in the past. A man can be freed from the necessity of work only by the fact that he or his fathers before him have worked to good purpose. If the freedom thus purchased is used aright, and the man still does actual work, though of a different kind, whether as a writer or a general, whether in the field of politics or in the field of exploration and adventure, he shows he deserves his good fortune. But if he treats this period of freedom from the need of actual labor as a period, not of preparation, but of mere enjoyment, even though perhaps not of vicious enjoyment, he shows that he is simply a cumberer of the earth's surface, and he surely unfits himself to hold his own with his fellows if the need to do so should again arise.

Gain all you can, save all you can, give all you can.

Be thou never without something to do; be reading, or writing, or praying, or meditating, or doing something that is useful to the community.

With parsimony a little is sufficient; without it nothing is sufficient; but frugality makes a poor man rich.

The liberal reward of labour, therefore, as it is the affect of increasing wealth, so it is the cause of increasing population. To complain of it, is to lament over the necessary effect and cause of the greatest public prosperity.

Thus is the problem of Rich and Poor to be solved. The laws of accumulation will be left free; the laws of distribution free. Individualism will continue, but the millionaire will be but a trustee of the poor; intrusted for a season with a great part of the increased wealth of the community, but administering it for the community far better than it could or would have done for itself. (pp. 663-664)

We cannot afford merely to sit down and deplore the evils of city life as inevitable, when cities are constantly growing, both absolutely and relatively. We must set ourselves vigorously about the task of improving them; and this task is now well begun.

The natural effort of every individual to better his own condition, when suffered to exert itself with freedom and security is so powerful a principle that it is alone, and without any assistance, not only capable of carrying on the society to wealth and prosperity, but of surmounting a hundred impertinent obstructions with which the folly of human laws too often incumbers its operations; though the effect of these obstructions is always more or less either to encroach upon its freedom, or to diminish its security.

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

The willfully idle man, like the willfully barren woman, has no place in a sane, healthy, and vigorous community. Moreover, the gross and hideous selfishness for which each stands defeats even its own miserable aims. Exactly as infinitely the happiest woman is she who has borne and brought up many healthy children, so infinitely the happiest man is he who has toiled hard and successfully in his life-work. The work may be done in a thousand different ways —with the brain or the hands, in the study, the field, or the workshop—if it is honest work, honestly done and well worth doing, that is all we have a right to ask. Every father and mother here, if they are wise, will bring up their children not to shirk difficulties, but to meet them and overcome them; not to strive after a life of ignoble ease, but to strive to do their duty, first to themselves and their families, and then to the whole state; and this duty must inevitably take the shape of work in some form or other.

More people are interested in trying to shuffle paper assets around than building lasting assets by producing real goods.

All the real money in investment will have to be made—as most of it has been in the past— not out of buying and selling but out of owning and holding securities, receiving interests and dividends therein, and benefiting from their long-term increases in value. Hence stockholder's major energies and wisdom as investors should be directed toward assuring themselves of the best operating results from their corporations. This in turn means assuring themselves of fully honest and competent managements.

Virtue is the root; wealth is the result.