world. But it is only by the exercise
of labour, energy, honesty, and thrift, that they can advance their own
position or that of their class.

Society at present suffers far more from waste of money than from want
of money. It is easier to make money than to know how to spend it. It is
not what a man gets that constitutes his wealth, but his manner of
spending and economizing. And when a man obtains by his labour more than
enough for his personal and family wants, and can lay by a little store
of savings besides, he unquestionably possesses the elements of social
well-being. The savings may amount to little, but they may be sufficient
to make him independent.

There is no reason why the highly-paid workman of to-day may not save a
store of capital. It is merely a matter of self-denial and private
economy. Indeed, the principal industrial leaders of to-day consist, for
the most part, of men who have sprung directly from the ranks. It is the
accumulation of experience and skill that makes the difference between
the workman and the _no_-workman; and it depends upon the workman
himself whether he will save his capital or waste it. If he save it, he
will always find that he has sufficient opportunities for employing it
profitably and usefully.

"When I was down in Lancashire the other day," said Mr. Cobden to his
fellow-townsmen at Midhurst, "I visited a mill, in company with some
other gentlemen, and that mill belonged to a person whose real name I
will not mention, but whom for the present purpose I will call Mr.
Smith. There could not have been less than three or four thousand
persons engaged in this mill when it was at work, and there were seven
hundred power-looms under one roof. As we were coming away, one of the
friends who accompanied me patted the owner of the mill on the shoulder,
and with that frank and manly familiarity which rather distinguishes the
Lancashire race, he said, 'Mr. Smith was a working man himself
twenty-five years ago, and he owes all this entirely to his own industry
and frugality.' To which Mr. Smith immediately replied, in the same
frank and good-humoured manner, 'Nay, I do not owe it all to myself; I
married a wife with a fortune; for she was earning 9_s_ 6_d_. a week as
a weaver at the power-loom, when she married me.'"

Thrift of Time is equal to thrift of money. Franklin said, "Time is
gold." If one wishes to earn money, it may be done by the proper use of
time. But time may also be s