I CANNOT call riches better than the baggage of virtue. The Roman word is better, impedimenta. For as the baggage is to an army, so is riches to virtue. It cannot be spared, nor left behind, but it hindereth the march; yea, and the care of it, sometimes loseth or disturbeth the victory. Of great riches there is no real use, except it be in the distribution; the rest is but conceit. So saith Solomon, Where much is, there are many to consume it; and what hath the owner, but the sight of it with his eyes? The personal fruition in any man, cannot reach to feel great riches: there is a custody of them; or a power of dole, and donative of them; or a fame of them; but no solid use to the owner. Do you not see what feigned prices, are set upon little stones and rarities? and what works of ostentation are undertaken, because there might seem to be some use of great riches? But then you will say, they may be of use, to buy men out of dangers or troubles. As Solomon saith, Riches are as a strong hold, in the imagination of the rich man. But this is excellently expressed, that it is in imagination, and not always in fact. For certainly great riches, have sold more men, than they have bought out. Seek not proud riches, but such as thou mayest get justly, use soberly, distribute cheerfully, and leave contentedly. Yet have no abstract nor friarly contempt of them. But distinguish, as Cicero saith well of Rabirius Posthumus, In studio rei amplificandae apparebat, non avaritiae praedam, sed instrumentum bonitati quaeri. Harken also to Solomon, and beware of hasty gathering of riches; Qui festinat ad divitias, non erit insons. The poets feign, that when Plutus (which is Riches) is sent from Jupiter, he limps and goes slowly; but when he is sent from Pluto, he runs, and is swift of foot. Meaning that riches gotten by good means, and just labor, pace slowly; but when they come by the death of others (as by the course of inheritance, testaments, and the like), they come tumbling upon a man. But it mought be applied likewise to Pluto, taking him for the devil. For when riches come from the devil (as by fraud and oppression, and unjust means), they come upon speed. The ways to enrich are many, and most of them foul. Parsimony is one of the best, and yet is not innocent; for it withholdeth men from works of liberality and charity. The improvement of the ground, is the most natural obtaining of riches; for it is our great mother's blessing, the earth's; but it is slow. And yet where men of great wealth do stoop to husbandry, it multiplieth riches exceedingly. I knew a nobleman in England, that had the greatest audits of any man in my time; a great grazier, a great sheep-master, a great timber man, a great collier, a great corn-master, a great lead-man, and so of iron, and a number of the like points of husbandry. So as the earth seemed a sea to him, in respect of the perpetual importation. It was truly observed by one, that himself came very hardly, to a little riches, and very easily, to great riches. For when a man's stock is come to that, that he can expect the prime of markets, and overcome those bargains, which for their greatness are few men's money, and be partner in the industries of younger men, he cannot but increase mainly. The gains of ordinary trades and vocations are honest; and furthered by two things chiefly: by diligence, and by a good name, for good and fair dealing. But the gains of bargains, are of a more doubtful nature; when men shall wait upon others' necessity, broke by servants and instruments to draw them on, put off others cunningly, that would be better chapmen, and the like practices, which are crafty and naught. As for the chopping of bargains, when a man buys not to hold but to sell over again, that commonly grindeth double, both upon the seller, and upon the buyer. Sharings do greatly enrich, if the hands be well chosen, that are trusted. Usury is the certainest means of gain, though one of the worst; as that whereby a man doth eat his bread, in sudore vultus alieni; and besides, doth plough upon Sundays. But yet certain though it be, it hath flaws; for that the scriveners and brokers do value unsound men, to serve their own turn. The fortune in being the first, in an invention or in a privilege, doth cause sometimes a wonderful overgrowth in riches; as it was with the first sugar man, in the Canaries. Therefore if a man can play the true logician, to have as well judgment, as invention, he may do great matters; especially if the times be fit. He that resteth upon gains certain, shall hardly grow to great riches; and he that puts all upon adventures, doth oftentimes break and come to poverty: it is good, therefore, to guard adventures with certainties, that may uphold losses. Monopolies, and coemption of wares for re-sale, where they are not restrained, are great means to enrich; especially if the party have intelligence, what things are like to come into request, and so store himself beforehand. Riches gotten by service, though it be of the best rise, yet when they are gotten by flattery, feeding humors, and other servile conditions, they may be placed amongst the worst. As for fishing for testaments and executorships (as Tacitus saith of Seneca, testamenta et orbos tamquam indagine capi), it is yet worse; by how much men submit themselves to meaner persons, than in service. Believe not much, them that seem to despise riches; for they despise them, that despair of them; and none worse, when they come to them. Be not penny-wise; riches have wings, and sometimes they fly away of themselves, sometimes they must be set flying, to bring in more. Men leave their riches, either to their kindred, or to the public; and moderate portions, prosper best in both. A great state left to an heir, is as a lure to all the birds of prey round about, to seize on him, if he be not the better stablished in years and judgment. Likewise glorious gifts and foundations, are like sacrifices without salt; and but the painted sepulchres of alms, which soon will putrefy, and corrupt inwardly. Therefore measure not thine advancements, by quantity, but frame them by measure: and defer not charities till death; for, certainly, if a man weigh it rightly, he that doth so, is rather liberal of another man's, than of his own.
I can call wealth nothing better than virtue’s baggage. The Roman word, impedimenta, is better still, since it suggests a hindrance. Wealth is to virtue what baggage is to an army. It cannot be spared or left behind, but it slows the march. Sometimes the care of it disrupts victory or loses it altogether. Great wealth has no real use except in giving it away. The rest is only an illusion. As Solomon says, where there is much, many come to consume it. What does the owner gain beyond the sight of it? No one’s personal enjoyment can extend far enough to make full use of great wealth. An owner can guard it, give it away, or gain a reputation for having it. But beyond that, it offers no substantial use. Do you not see the artificial prices placed on little stones and rare objects? Do you not see the grand displays undertaken to make great wealth seem useful? But you may say that wealth can buy people out of danger or trouble. As Solomon says, riches are a stronghold in the rich man’s imagination. That last point is well expressed. They offer safety in imagination, but not always in fact. Certainly, great riches have betrayed more people than they have rescued. Do not seek wealth for show. Seek what you can earn honestly, use moderately, give cheerfully, and leave willingly. Yet do not despise wealth on principle or reject it like a monk. Instead, make the distinction Cicero made about Rabirius Posthumus. His efforts to increase his estate showed that he sought resources for generosity, not spoils for greed. Listen also to Solomon, and beware of getting rich too quickly. Whoever rushes to become rich will not remain innocent. The poets imagine that Plutus, the god of wealth, limps and moves slowly when Jupiter sends him. But when Pluto sends him, he runs swiftly. This means that wealth gained honestly, through rightful work, comes slowly. Wealth gained through another’s death, through inheritance, wills, and similar means, comes pouring in. But the story could also apply to Pluto understood as the devil. Wealth from the devil, gained through fraud, oppression, and injustice, comes quickly. There are many ways to grow rich, and most are foul. Thrift is among the best, yet even it is not innocent. It holds people back from generosity and charity. Improving the land is the most natural way to gain wealth. It is the blessing of our great mother, the earth, but it comes slowly. Yet when very wealthy people turn to farming, it increases their riches enormously. I knew an English nobleman whose accounts showed the greatest income of anyone in my time. He raised cattle and sheep on a large scale and dealt extensively in timber, coal, grain, lead, and iron. He also pursued many similar enterprises based on the land. The earth seemed like a sea to him, continually bringing in fresh cargoes. Someone rightly observed that he had struggled greatly to gain a little wealth, but gained great wealth easily. Once a person has enough capital, he can wait for the best market conditions. He can secure deals so large that few others can afford them. He can also invest in the enterprises of younger men. With these advantages, his wealth must grow greatly. The earnings of ordinary trades and occupations are honest. Two things chiefly help them grow, diligence and a reputation for fair dealing. Profits from bargaining are more doubtful. People wait to exploit another’s need. They use servants and agents as go-betweens to lure others into deals. They cunningly put off others who would offer better terms. Such practices are deceitful and wrong. Buying only to resell, rather than to keep, commonly squeezes both the original seller and the final buyer. Partnerships bring great wealth if the people trusted to manage them are well chosen. Lending money at interest is the surest means of profit, though one of the worst. It lets a man earn his bread by the sweat of another’s brow. Besides, his money keeps working even on Sundays. Yet, certain as this profit is, it has risks. Legal agents and brokers present unreliable borrowers as sound to serve their own interests. Being first with an invention or an exclusive trading right sometimes brings an extraordinary increase in wealth. This happened to the first sugar producer in the Canary Islands. A man can therefore achieve great things if he combines sound judgment with invention, like a true logician. This is especially so when the times are favorable. Anyone who relies only on certain profits will hardly become very rich. Anyone who risks everything on ventures often goes bankrupt and falls into poverty. It is therefore wise to support risky ventures with secure income that can cover losses. Monopolies and buying up goods for resale bring great wealth where they are not restricted. This is especially true when someone knows what goods are likely to be in demand and stocks up beforehand. Wealth earned in service may have the most honorable beginnings. Yet wealth gained through flattery, indulging another’s whims, and other degrading behavior ranks among the worst. Angling for inheritances and appointments as executor is worse still. As Tacitus said of Seneca, people catch wills and childless people as though in a hunting net. Such fortune hunters submit to people even less worthy than those they might serve. Do not put much faith in people who seem to despise riches. They despise wealth because they despair of gaining it. No one behaves worse when wealth comes to them. Do not be penny-wise. Riches have wings. Sometimes they fly away by themselves, and sometimes you must send them flying to bring back more. People leave their wealth either to their relatives or to the public. Moderate amounts do best in both cases. A great estate left to an heir attracts every bird of prey nearby. They will seize on him unless age and judgment have made him secure. Likewise, grand gifts and charitable foundations are like sacrifices without salt. They are merely charity’s painted tombs, soon to rot and decay within. So do not judge your gifts by their size. Shape them instead with proportion and good judgment. Do not put off charity until death. Properly considered, someone who does so is generous with another person’s property rather than his own.