Again, in time of war or general disturbance, a man may require ready money at once, and have to sell out his investments in land or consols for a third or even a still smaller fraction of the sum he would have received from them, if he could have waited for the market to right itself, which would have happened in due course; but he compels Time to grant him a loan, and his loss is the interest he has to pay.  Or perhaps he wants to go on a long journey and requires the money:  in one or two years he could lay by a sufficient sum out of his income, but he cannot afford to wait; and so he either borrows it or deducts it from his capital; in other words, he gets Time to lend him the money in advance.  The interest he pays is a disordered state of his accounts, and permanent and increasing deficits, which he can never make good.

Such is Time’s usury; and all who cannot wait are its victims.  There is no more thriftless proceeding than to try and mend the measured pace of Time.  Be careful, then, not to become its debtor.

SECTION 50.  In the daily affairs of life, you will have very many opportunities of recognizing a characteristic difference between ordinary people of prudence and discretion.  In estimating the possibility of danger in connection with any undertaking, an ordinary man will confine his inquiries to the kind of risk that has already attended such undertakings in the past; whereas a prudent person will look ahead, and consider everything that might possibly happen in the future, having regard to a certain Spanish maxim:  lo que no acaece en un ano, acaece en un rato—­a thing may not happen in a year, and yet may happen within two minutes.

The difference in question is, of course, quite natural; for it requires some amount of discernment to calculate possibilities; but a man need only have his senses about him to see what has already happened.

Do not omit to sacrifice to evil spirits.  What I mean is, that a man should not hesitate about spending time, trouble, and money, or giving up his comfort, or restricting his aims and denying himself, if he can thereby shut the door on the possibility of misfortune.  The most terrible misfortunes are also the most improbable and remote—­the least likely to occur.  The rule I am giving is best exemplified in the practice of insurance,—­a public sacrifice made on the altar of anxiety.  Therefore take out your policy of insurance!

SECTION 51.  Whatever fate befalls you, do not give way to great rejoicings or great lamentations; partly because all things are full of change, and your fortune may turn at any moment; partly because men are so apt to be deceived in their judgment as to what is good or bad for them.

Almost every one in his turn has lamented over something which afterwards turned out to be the very best thing for him that could have happened—­or rejoiced at an event which became the source of his greatest sufferings.  The right state of mind has been finely portrayed by Shakespeare: