Commencing then with the first of the above-named characteristics, I say that it would be well to be reputed liberal. Nevertheless, liberality exercised in a way that does not bring you the reputation for it, injures you; for if one exercises it honestly and as it should be exercised, it may not become known, and you will not avoid the reproach of its opposite. Therefore, any one wishing to maintain among men the name of liberal is obliged to avoid no attribute of magnificence; so that a prince thus inclined will consume in such acts all his property, and will be compelled in the end, if he wish to maintain the name of liberal, to unduly weigh down his people, and tax them, and do everything he can to get money. This will soon make him odious to his subjects, and becoming poor he will be little valued by any one; thus, with his liberality, having offended many and rewarded few, he is affected by the very first trouble and imperilled by whatever may be the first danger; recognizing this himself, and wishing to draw back from it, he runs at once into the reproach of being miserly.
Starting with the first quality mentioned above, I say it is good to be known as generous. Yet generosity that does not earn you that reputation harms you. If you practice it honestly and properly, it may go unnoticed. You will still be accused of being ungenerous. So anyone who wants a reputation for generosity must spare no expense in lavish displays. A prince who follows this course will spend all his wealth on such acts. In the end, to keep his generous reputation, he will have to burden his people excessively. He will tax them and do everything he can to raise money. This will soon make his subjects hate him. As he becomes poor, he will earn little respect from anyone. Through his generosity, he will have offended many and rewarded few. The very first trouble will shake him, and the first danger will threaten his position. When he recognizes this and tries to change course, he is immediately accused of being miserly.
Therefore, a prince, not being able to exercise this virtue of liberality in such a way that it is recognized, except to his cost, if he is wise he ought not to fear the reputation of being mean, for in time he will come to be more considered than if liberal, seeing that with his economy his revenues are enough, that he can defend himself against all attacks, and is able to engage in enterprises without burdening his people; thus it comes to pass that he exercises liberality towards all from whom he does not take, who are numberless, and meanness towards those to whom he does not give, who are few.
A prince cannot gain a reputation for generosity without paying dearly for it. If he is wise, he should not fear being seen as stingy. In time, he will be more respected than if he were generous. By spending carefully, he can make his revenues cover his needs. He can defend himself against all attacks and undertake ventures without burdening his people. In this way, he is generous toward all those he takes nothing from, who are countless. He is stingy only toward those he gives nothing to, who are few.
We have not seen great things done in our time except by those who have been considered mean; the rest have failed. Pope Julius the Second was assisted in reaching the papacy by a reputation for liberality, yet he did not strive afterwards to keep it up, when he made war on the King of France; and he made many wars without imposing any extraordinary tax on his subjects, for he supplied his additional expenses out of his long thriftiness. The present King of Spain would not have undertaken or conquered in so many enterprises if he had been reputed liberal. A prince, therefore, provided that he has not to rob his subjects, that he can defend himself, that he does not become poor and abject, that he is not forced to become rapacious, ought to hold of little account a reputation for being mean, for it is one of those vices which will enable him to govern.
In our time, only those considered stingy have achieved great things. The rest have failed. Pope Julius II’s reputation for generosity helped him become pope. But he did not try to maintain that reputation afterward, when he went to war against the King of France. He fought many wars without imposing any extra taxes on his subjects. He covered the additional costs with money saved through years of thrift. The present King of Spain would not have undertaken or succeeded in so many campaigns if he were considered generous. A prince, therefore, should care little about a reputation for stinginess, provided he does not have to rob his subjects. He must also be able to defend himself, avoid becoming poor and degraded, and not be forced into plundering. Stinginess is one of those vices that will enable him to govern.
And if any one should say: Caesar obtained empire by liberality, and many others have reached the highest positions by having been liberal, and by being considered so, I answer: Either you are a prince in fact, or in a way to become one. In the first case this liberality is dangerous, in the second it is very necessary to be considered liberal; and Caesar was one of those who wished to become pre-eminent in Rome; but if he had survived after becoming so, and had not moderated his expenses, he would have destroyed his government. And if any one should reply: Many have been princes, and have done great things with armies, who have been considered very liberal, I reply: Either a prince spends that which is his own or his subjects’ or else that of others. In the first case he ought to be sparing, in the second he ought not to neglect any opportunity for liberality. And to the prince who goes forth with his army, supporting it by pillage, sack, and extortion, handling that which belongs to others, this liberality is necessary, otherwise he would not be followed by soldiers. And of that which is neither yours nor your subjects’ you can be a ready giver, as were Cyrus, Caesar, and Alexander; because it does not take away your reputation if you squander that of others, but adds to it; it is only squandering your own that injures you.
Someone may say: Caesar gained power through generosity. Many others have reached the highest positions by being generous and being seen that way. I answer: Either you are already a prince, or you are on your way to becoming one. In the first case, generosity is dangerous. In the second, a reputation for generosity is essential. Caesar was among those who wanted to become the foremost man in Rome. But suppose he had survived after reaching that position and had not cut his spending. He would have destroyed his government. Someone may reply: Many princes have achieved great things with armies while being considered very generous. I answer: A prince spends either his own wealth or his subjects’ wealth, or else the wealth of others. In the first case, he should be careful with his spending. In the second, he should miss no opportunity to be generous. A prince who campaigns with his army may support it through plunder, looting, and extortion. Since he is spending what belongs to others, generosity is necessary. Otherwise, his soldiers would not follow him. You can freely give away what belongs neither to you nor to your subjects. Cyrus, Caesar, and Alexander did this. Squandering other people’s wealth does not harm your reputation but improves it. Only squandering your own wealth harms you.
And there is nothing wastes so rapidly as liberality, for even whilst you exercise it you lose the power to do so, and so become either poor or despised, or else, in avoiding poverty, rapacious and hated. And a prince should guard himself, above all things, against being despised and hated; and liberality leads you to both. Therefore it is wiser to have a reputation for meanness which brings reproach without hatred, than to be compelled through seeking a reputation for liberality to incur a name for rapacity which begets reproach with hatred.
Nothing drains your resources faster than generosity. Even as you practice it, you lose the means to continue. You become either poor or despised, or, to avoid poverty, greedy and hated. Above all, a prince must guard against being despised and hated. Generosity leads to both. It is therefore wiser to be known as stingy, which brings criticism without hatred. Seeking a reputation for generosity can force you to become known as greedy, bringing both criticism and hatred.