“But, papa,” said Marianne, with a twinge of that exacting sensitiveness by which the child is characterized, “I think I am an economist, thanks to you and mamma, so far as knowing just what my income is, and keeping within it; but that does not satisfy me, and it seems that isn’t all of economy;—the question that haunts me is, Might I not make my little all do more and better than I do?”
“There,” said I, “you have hit the broader and deeper signification of economy, which is, in fact, the science of comparative values. In its highest sense, economy is a just judgment of the comparative value of things,—money only the means of enabling one to express that value. This is the reason why the whole matter is so full of difficulty,—why every one criticizes his neighbor in this regard. Human beings are so various, the necessities of each are so different, they are made comfortable or uncomfortable by such opposite means, that the spending of other people’s incomes must of necessity often look unwise from our stand-point. For this reason multitudes of people who cannot be accused of exceeding their incomes often seem to others to be spending them foolishly and extravagantly.”
“But is there no standard of value?” said Marianne.
“There are certain things upon which there is a pretty general agreement, verbally at least, among mankind. For instance, it is generally agreed that health is an indispensable good,—that money is well spent that secures it, and worse than ill spent that ruins it.
“With this standard in mind, how much money is wasted even by people who do not exceed their income! Here a man builds a house, and pays, in the first place, ten thousand more than he need, for a location in a fashionable part of the city, though the air will be closer and the chances of health less; he spends three or four thousand more on a stone front, on marble mantels imported from Italy, on plate-glass windows, plated hinges, and a thousand nice points of finish, and has perhaps but one bathroom for a whole household, and that so connected with his own apartment that nobody but himself and his wife can use it.
“Another man buys a lot in an open, airy situation, which fashion has not made expensive, and builds without a stone front, marble mantels, or plate-glass windows, but has a perfect system of ventilation through his house, and bathing-rooms in every story, so that the children and guests may all, without inconvenience, enjoy the luxury of abundant water.