Poor Richard's Almanac:
   The Way to Wealth

          "In 1732, I first published my Almanac under the

          name of Richard Saunders.  It was continued by me about
          twenty-five years, and commonly called Poor Richard's
          Almanac.    I endeavored to make it both entertaining and
          useful, and it accordingly came to be in such demand, that I
          reaped considerable profit from it, vending annually near
          ten thousand.  And observing that it was widely read --
          scarce any neighborhood in the province being without it --
          I considered it as a proper vehicle for conveying
          instruction among the common people, who bought scarcely any
          other books.  I therefore filled all the little spaces, that
          occurred between the remarkable days in the Calendar, with
          proverbial sentences, chiefly such as inculcated industry
          and frugality, as the means of procuring wealth, and thereby
          securing virtue -- it being more difficult for a poor man to
          act always honestly, as, to use one of those proverbs, It is
          hard for an empty sack to stand upright.
           "These proverbs, which contained the wisdom of
          many ages and nations, I assembled and formed into a
          connected discourse, prefixed to the Almanac of 1757, as the
          harrangue of a wise old man to the people attending an
          auction.  Bringing all of these scattered counsels into one
          place enabled them to make a greater impression.  The piece,
          being universally approved, was copied in all the newspapers
          of the American Continent,  and reprinted in Britain.  Two
          translations were made of it in France, and great numbers
          bought by the clergy and gentry, to distribute gratis among
          their poor parishioners and tenants.  In Pennsylvania, as it
          discouraged useless expense in foreign superfluities, some
          thought it had its share of influence in producing that
          growing plenty of money, which was observable for several
          years after its publication."
 
 
 
 

                                                 The Way to Wealth
 

           I stopped my horse lately where a great number of
          people were collected at a sale of merchant goods.  The hour
          of sale not being come, they were conversing on the badness
          of the times and one of the company called to a plain, clean
          old man with white locks, "Pray, Father Abraham, what think
          you of the times?  Won't these heavy taxes quite ruin the
          country?  How shall we be ever able to pay them?  What would
          you advise us to do?"  Father Abraham stood up, and replied,
          "If you'd have my advice, I'll give it to you, for a word to
          the wise is enough,  as Poor Richard says."  They joined in
          desiring him to speak his mind, and gathering round him, he
          preceded as follows:
           "Friends," says he, "and neighbors, the taxes are
          indeed very heavy, but we have many others, and much more
          grievous to some of us.  We are taxed twice as much by our
          Idleness, three times as much by our Pride, and four times
          as much by our Folly;  and from these taxes the
          commissioners cannot ease or deliver us.
           It would be thought a hard government that should
          tax its people one-tenth part of their time to be employed
          in its service.  But Idleness taxes many of us much more, if
          we reckon all the time that is spent in idle employments or
          amusements that amount to nothing.  Sloth -- or the doing of
          nothing -- by bringing on diseases, absolutely shortens
          life.  Sloth, like Rust, consumes faster than labor wears;
          while The used key is always bright, as Poor Richard says.
          But Dost thou love life, then do not squander time, for
          that's the stuff life is made of , as Poor Richard says.
          How much more than is necessary do we spend in sleep,
          forgetting that The sleeping fox catches no poultry  and
          that There will be sleeping enough in the grave, as Poor
          Richard says.
           Lost time is never found again..  So let us then
          be up and doing.  Sloth makes all things difficult, but
          industry all easy, as Poor Richard says.  And He that riseth
          late must trot all day, and shall scarce overtake his
          business at night; while Laziness travels so slowly, that
          poverty soon overtakes him, as we read in Poor Richard, who
          adds, Early to Bed, and early to rise, makes a man healthy,
          wealthy and wise.
           We may make these times better if we bestir
          ourselves, for He that lives upon hope will die fasting.
          There are no gains without pains.  And, as Poor Richard
          likewise observes, He that hath a trade hath an Estate.  But
          the trade must be worked at.  If we are industrious, we
          shall never starve; for, as Poor Richard says, At the
          working man's house, hunger looks in, but dares not enter.
           Even though you have found no treasure, nor has
          any rich relation left you a legacy, Diligence is the mother
          of good luck, as Poor Richard says, and God gives all things
          to industry.  Then Plough deep while Sluggards sleep, and
          you shall have corn to sell and to keep.  Work while it is
          called today, for you know not how much you may be hindered
          tomorrow, which makes Poor Richard say, One today is worth
          two tomorrows, and farther, Have you something to do
          tomorrow, do it today.  If you were a servant, would you not
          be ashamed that a good master should catch you idle?  Since
          you are your own master, Be ashamed to catch yourself idle,
          as Poor Dick says.  When there is so much to be done for
          yourself, your family, your country, and your gracious,
          King, be up by peep of day.  Let not the sun look down and
          say, inglorious here he lies.  ''Tis true there is much to
          be done, and perhaps you are weak-handed, but stick to it
          steadily, and you will see great effects, for Constant
          dropping wears away stones, and By diligence and patience
          the mouse ate in two the cable; and Little strokes fell
          great oaks, as Poor Richard says in his Almanac, the year I
          cannot just now remember.
           Methinks I hear some of you say, 'Must a man
          afford himself no leisure'?  I will tell thee, my friend,
          what Poor Richard says, Employ thy time well, if thou
          meanest to gain leisure; and, Since thou art not sure of a
          minute, throw not away an hour.  Leisure, is time for doing
          something useful, thus leisure the diligent man will obtain,
          but the lazy man never.
           So much for Industry, my friends, but to this we
          must add Frugality, if we would make our industry more
          certainly successful.  A man may, if he knows not how to
          save as he gets, Keep his nose all his life to the
          grindstone, and die not worth a groat at last.  If you would
          be wealthy, think of saving as well as of getting.
           Away then with your expensive follies, and you
          will not then have so much cause to complain of hard times,
          and heavy taxes.  As Poor Dick says, Women and wine, game
          and deceit, make the wealth small and the wants great.  And
          further, What maintains one vice, would bring up two
          children.  You may think, perhaps, that a little tea, a
          little punch, clothes a little finer, or a little
          entertainment now and then, can be no great matter.  But
          remember what Poor Richard says, Beware of little expenses;
          a small leak will sink a great ship.  And moreover, Fools
          make feasts, and wise men eat them.   Remember what Poor
          Richard says, Buy what thou has no need of, and before long
          thou shalt sell thy necessaries.  And, Silks and satins,
          scarlet and velvets put out the kitchen fire.
           These are not the necessaries of life.  They can
          scarcely be called the conveniences, and yet only because
          they look pretty, how many want to have them!  The
          artificial wants of mankind thus become more numerous than
          the natural.  By these and other extravagancies, the genteel
          are reduced to poverty.  A child and a fool, as Poor Richard
          says, Imagine twenty shillings and twenty years can never be
          spent.  If you would know the value of money, go and try to
          borrow some.
           What madness must it be to run in debt for these
          superfluities!  We are offered, by the terms of this sale,
          six months credit, and that, perhaps, has induced some of us
          to attend it, because we cannot spare the ready money, and
          hope now to be fine without it.  But, ah, think what you do
          when you run in debt.  You give to another power over your
          liberty.  If you cannot pay at the time, you will be ashamed
          to see your creditor; you will be in fear when you speak to
          him; you will make poor pitiful sneaking excuses, and by
          degrees come to lose your veracity, and sink into base
          downright lying; for, as Poor Richard says, The second vice
          is lying, the first is running in debt.  A free-born
          Englishman ought not to be ashamed or afraid to see or speak
          to any many living.  But poverty often deprives a man of all
          spirit and virtue:  'Tis hard for an empty bag to stand
          upright, as Poor Richard truly says.
           What would you think of that prince, or that
          government, who should issue an edict forbidding you to
          dress like a gentleman or a gentlewoman, on pain of
          imprisonment or servitude?  Would you not say that you were
          free, have a right to dress as you please, and that such an
          edict would be a breach of your privileges, and such a
          government is tyrannical?  And yet you are about to put
          yourself under that tyranny when you run in debt for such
          dress!  Your creditor has authority, at his pleasure, to
          deprive you of your liberty, by confining you in jail for
          life, or to sell you for a servant, if you should not be
          able to pay him!  The borrower is a slave to the lender, and
          the debtor to the creditor.  Disdain the chain!  Preserve
          your freedom!  Be industrious and free; be frugal and be
          free.  Rather go to bed supperless than rise in debt.
           But, after all, do not depend too much upon your
          own industry, and frugality, and prudence, though excellent
          things, for they may all be blasted without the blessing of
          heaven.  Therefor, ask that blessing humbly, and be not
          uncharitable to those that at present seem to want it, but
          comfort and help them.  Remember, Job  suffered, and was
          afterwards prosperous.
           Thus the old gentleman ended his harrangue.  The
          people heard it, and approved the doctrine, and immediately
          practised the contrary, just as if it had been a common
          sermon; for the sale opened, and they began to buy
          extravagantly, notwithstanding his cautions and their own
          fear of taxes.
 

          Richard Saunders

          July 7, 1757
 
 

   *From The Works of Benjamin Franklin, vol. 2,
          Jared Sparks, ed.  Hilliard, Gray & Co., (Boston:  1840),
          pp. 92 - 103.
 
 


 
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Revised February 14, 2005
by Tom Gallup, e-mail address: [email protected]
West Valley College
http://www.westvalley.edu/wvc/ss/gallup/gallup.html