I thank God, I have been able, by adopting Principles of strict Economy and Frugality, to keep my principal, I mean my Country-Estate, unimpaired.
The best taxes are such as are levied upon consumptions, especially those of luxury; because such taxes are least felt by the people. They seem, in some measure, voluntary; since a man may choose how far he will use the commodity: They naturally produce sobriety and frugality, if judiciously imposed: And being confounded with the natural price of the commodity, they are scarcely perceived by the consumers. Their only disadvantage is that they are expensive in the levying.
I'm a practitioner of elegant frugality. I don't feel comfortable telling other people what to do, so I just try and lead by example.
The Depression taught me what frugality means and the importance of not losing money.
In short, the way to wealth, if you desire it, is as plain as the way to market. It depends chiefly on two works, industry and frugality.
The great blessing of private property, then, is that people can benefit from their own industry and insulate themselves from the negative effects of others' actions. It is like a set of invisible mirrors that surround individuals, households or firms, reflecting back on them the consequences of their acts. The industrious will reap the benefits of their industry; the frugal the consequences of their frugality; the improvident and the profligate likewise. They receive their due, which is to say they experience justice as a matter of routine.
The importation of foreigners into a country that has as many inhabitants as the present employments and provisions for subsistence will bear, will be in the end no increase of people, unless the new comers have more industry and frugality than the natives, and then they will provide more subsistence, and increase in the country; but they will gradually eat the natives out. Nor is it necessary to bring in foreigners to fill up any occasional vacancy in a country for such vacancy will soon be filled by natural generation.
Working conditions for me have always been those of the monastic life: solitude and frugality. Except for frugality, they are contrary to my nature, so much so that work is a violence I do to myself.
1) Temperance... drink not to elevation. (2) Silence... avoid trifling conversations. (3) Order: Let all your things have their places... (4) Resolution... perform without fail what you resolve. (5) Frugality... i.e. waste nothing. (6) Industry: Lose no time; be always employ'd... (7) Sincerity: Use no hurtful deceit; think innocently... (8) Justice: Wrong none by doing injuries... (9) Moderation: Avoid extremes; forbear resenting... (10) Cleanliness: Tolerate no uncleanliness in body... (11) Tranquility: Be not disturbed at trifles... (12) Chastity (13) Humility : Imitate Jesus.
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