Webers's quotations from Benjamin Franklin. [These are short papers from
which Weber quotes most of what they contain]
FROM "ADVICE TO A YOUNG TRADESMAN"
1748
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
the protestant ethic and the 14 spirit of capitalism
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 the 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 a hundred pounds. The
more there is of it, the more it produces every turning, so that
the profits rise quicker and quicker. He that kills a breedingsow,
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 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 trifling actions that affect a man's credit are to be
regarded. The sound of your hammer at five in the morning, or
eight 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.
Beware of thinking all your own that you possess, and of
living accordingly. It is a mistake that many people who have
credit fall into. To prevent this, keep an exact account for some
time both of your expenses and your income. If you take the
pains at first to mention particulars, it will have this good effect:
you will discover how wonderfully small, trifling expenses
mount up to large sums; and will discern what might have
been, and may for the future be saved, without occasioning any
great inconvenience.
NECESSARY HINTS TO THOSE THAT WOULD BE RICH
1736
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
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