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P T Barnum, The Art of Money Getting

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  • P T Barnum, The Art of Money Getting

    This is hilarious.

    It is great what a kindle, megareader app, etc., will give you for free.

    Worth reading the whole thing.

    http://www.fourmilab.ch/etexts/www/barnum/moneygetting/

    Those who really desire to attain an independence, have only to set their minds upon it, and adopt the proper means, as they do in regard to any other object which they wish to accomplish, and the thing is easily done. But however easy it may be found to make money, I have no doubt many of my hearers will agree it is the most difficult thing in the world to keep it. The road to wealth is, as Dr. Franklin truly says, "as plain as the road to the mill." It consists simply in expending less than we earn; that seems to be a very simple problem. Mr. Micawber, one of those happy creations of the genial Dickens, puts the case in a strong light when he says that to have an income of twenty pounds per annum, and spend twenty pounds and sixpence, is to be the most miserable of men; whereas, to have an income of only twenty pounds, and spend but nineteen pounds and sixpence is to be the happiest of mortals. Many of my readers may say, "we understand this; this is economy, and we know economy is wealth; we know we can't eat our cake and keep it also." Yet I beg to say that perhaps more cases of failure arise from mistakes on this point than almost any other. The fact is, many people think they understand economy when they really do not.


    True economy is misapprehended, and people go through life without properly comprehending what that principle is. One says, "I have an income of so much and here is my neighbor who has the same; yet every year he gets something ahead and I fall short; why is it? I know all about economy." He thinks he does, but he does not. There are many who think that economy consists in saving cheese-parings and candle-ends, in cutting off two pence from the laundress' bill and doing all sorts of little, mean, dirty things. Economy is not meanness. The misfortune is, also, that this class of persons let their economy apply in only one direction. They fancy they are so wonderfully economical in saving a half-penny where they ought to spend two pence, that they think they can afford to squander in other directions. A few years ago, before kerosene oil was discovered or thought of, one might stop overnight at almost any farmer's house in the agricultural districts and get a very good supper, but after supper he might attempt to read in the sitting-room, and would find it impossible with the inefficient light of one candle. The hostess, seeing his dilemma, would say: "It is rather difficult to read here evenings; the proverb says `you must have a ship at sea in order to be able to burn two candles at once;' we never have an extra candle except on extra occasions."


    These extra occasions occur, perhaps, twice a year. In this way the good woman saves five, six, or ten dollars in that time; but the information which might be derived from having the extra light would, of course, far outweigh a ton of candles. [And here I thought people complaining that it was "too expensive to buy a computer and get the internet at home" was a new phenomenon!]

    [It must be said, though, that 200 years ago it took a person several hours work to buy a candle, so it would be like us paying $50 for one. A 1-watt LED now produces as much light as a candle for 1/100th cent per hour.]

  • #2
    Re: P T Barnum, The Art of Money Getting

    Great post.

    Comment


    • #3
      Re: P T Barnum, The Art of Money Getting

      A hundred years, and of course, nothing has changed.

      Comment


      • #4
        Re: P T Barnum, The Art of Money Getting

        Originally posted by mooncliff View Post
        A hundred years, and of course, nothing has changed.
        PT Barnum's autobiography was a great read I recall.


        "Several weeks before he died in his sleep, on April 7, 1891, Barnum read his own obituary: The New York Sun newspaper, responding to Barnum's comment that the press says nice things about people after they die, ran his obituary on the front page with the headline, "Great And Only Barnum -- He Wanted To Read His Obituary -- Here It Is."


        Appropriately, it is reported that Barnum's last words were about the show, which was appearing in New York's Madison Square Garden at the time: "Ask Bailey what the box office was at the Garden last night."
        Justice is the cornerstone of the world

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        • #5
          Re: P T Barnum, The Art of Money Getting

          Isn't this the same guy who said: "There's a sucker born every minute"?

          I also marvel at the dichotomy of economic advice from a circus showman, on economy if not frugality.

          How did the many nickels and dimes (quite a respectable sum in the late 1800s) spent at Mr. Barnum's circus fit into this advice?

          Comment


          • #6
            Re: P T Barnum, The Art of Money Getting

            Originally posted by c1ue View Post
            Isn't this the same guy who said: "There's a sucker born every minute"?

            I also marvel at the dichotomy of economic advice from a circus showman, on economy if not frugality. ?
            Master Promoter, the Shakespeare of Advertising.
            He was also the mayor of Bridgeport, amongst many many other things, i.e. not a lightweight.

            Further fun: The Pogo connection is known I assume?

            Justice is the cornerstone of the world

            Comment


            • #7
              Re: P T Barnum, The Art of Money Getting

              http://gma.yahoo.com/high-flying-aut...ews-money.html



              Patricia Smith, the former controller of an auto dealership in Pennsylvania, is headed to jail after embezzling $10 million from her former boss in a stunning case of a trusted employee looting the business then squandering the cash on luxuries.

              Smith, who worked at Baierl Acura located in Wexford, Pa., an upper-middle class suburb of Pittsburgh, was convicted of systematically stealing for seven years--some $4,000 a day on average--for private jet travel, special trips to the theatre, fancy clothes and other goods, according to the court.

              A costume fitting on Broadway? Check. Super Bowl Tickets? Check. There were even trips to the Vatican using stolen money. Smith spared no expense for herself or her family on the company's dime, according to reports from court. The jet charters alone totaled $1.8 million for the high-flying bookkeeper, who officially made about $50,000 a year from the dealership.

              According to Shannon Pierre, of ABC Pittsburgh affiliate WTAE, who reported on the story from court, Smith's reason for her crime spree was she felt like a "horrible daughter, wife, mother and friend" and the gifts were a way to "earn their love" because she wanted to see "what happiness looks like."




              I wonder if that last line is true. Or just a feeble lie to justify her actions.

              Comment


              • #8
                Re: P T Barnum, The Art of Money Getting

                Hmm, sounds like a psychiatric problem. This happens quite often.
                How could no one notice? I mean if my mom started buying stuff like that, it would immediately cause questions like where the hell is the money coming from.
                And the boss did not notice that all this money was disappearing? Was he paying attention to his business.

                Of course, if she worked for certain institutions, all of that would have been "perks".

                Comment


                • #9
                  Re: P T Barnum, The Art of Money Getting

                  Frugality is of course a virtue.
                  However, the "penny saved is a penny earned" wisdom of old is diminished somewhat under a system of fiat depreciating currency.
                  After all PT Barnum preceded the Federal Reserve system and money value was on average generally stable over the 19th century.
                  We no longer live in an economy where you can put your "money" in a piggy bank to acquire wealth.

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