When Mr. Hume said in the House of Commons, some years ago, that the tone of living in England was altogether too high, his observation was followed with “loud laughter.”  Yet his remark was perfectly true.  It is far more true now than it was then.  Thinking people believe that life is now too fast, and that we are living at high-pressure.  In short, we live extravagantly.  We live beyond our means.  We throw away oar earnings, and often throw our lives after them.

Many persons are diligent enough in making money, but do not know how to economize it,—­or how to spend it.  They have sufficient skill and industry to do the one, but they want the necessary wisdom to do the other.  The temporary passion for enjoyment seizes us, and we give way to it without regard to consequences.  And yet it may be merely the result of forgetfulness, and might be easily controlled by firmness of will, and by energetic resolution to avoid the occasional causes of expenditure for the future.  The habit of saving arises, for the most part, in the desire to ameliorate our social condition, as well as to ameliorate the condition of those who are dependent upon us.  It dispenses with everything which is not essential, and avoids all methods of living that are wasteful and extravagant.  A purchase made at the lowest price will be dear, if it be a superfluity.  Little expenses lead to great.  Buying things that are not wanted, soon accustoms us to prodigality in other respects.

Cicero said, “Not to have a mania for buying, is to possess a revenue.”  Many are carried away by the habit of bargain-buying.  “Here is something wonderfully cheap:  let us buy it.”  “Have you any use for it?” “No, not at present; but it is sure to come in useful, some time.”  Fashion runs in this habit of buying.  Some buy old china—­as much as will furnish a china-shop.  Others buy old pictures—­old furniture—­old wines,—­all great bargains!  There would be little harm in buying these old things, if they were not so often bought at the expense of the connoisseur’s creditors.  Horace Walpole once said, “I hope that there will not be another sale, for I have not an inch of room nor a farthing left.”

Men must prepare in youth and in middle age the means of enjoying old age pleasantly and happily.  There can be nothing more distressing than to see an old man who has spent the greater part of his life in well-paid-for-labour, reduced to the necessity of begging for bread, and relying entirely on the commiseration of his neighbours, or upon the bounty of strangers.  Such a consideration as this should inspire men in early life with a determination to work and to save, for the benefit of themselves and their families in later years.

It is, in fact, in youth that economy should be practised, and in old age that men should dispense liberally, provided they do not exceed their income.  The young man has a long future before him, during which he may exercise the principles of economy; whilst the other is reaching the end of his career, and can carry nothing out of the world with him.