“I tell you, my students, a man’s wealth is not in the coins he carries in his purse; it is the income he buildeth, the golden stream that continually floweth into his purse and keepeth it always bulging. That is what every man desireth. That is what thou, each one of thee desireth; an income that continueth to come whether thou work or travel.
“Great income I have acquired. So great that I am called a very rich man. My loans to Aggar were my first training in profitable investment. Gaining wisdom from this experience, I extended my loans and investments as my capital increased. From a few sources at first, from many sources later, flowed into my purse a golden stream of wealth available for such wise uses as I should decide.
“Behold, from my humble earnings I had begotten a hoard of golden slaves, each laboring and earning more gold. As they labored for me, so their children also labored and their children’s children until great was the income from their combined efforts.
“Gold increaseth rapidly when making reasonable earnings as thou wilt see from the following: A farmer, when his first son was born, took ten pieces of silver to a money lender and asked him to keep it on rental for his son until he became twenty years of age. This the money lender did, and agreed the rental should be one-fourth of its value each four years. The farmer asked, because this sum he had set aside as belonging to his son, that the rental be add to the principal.
“When the boy had reached the age of twenty years, the farmer again went to the money lender to inquire about the silver. The money lender explained that because this sum had been increased by compound interest, the original ten pieces of silver had now grown to thirty and one-half pieces.
“The farmer was well pleased and because the son did not need the coins, he left them with the money lender. When the son became fifty years of age, the father meantime having passed to the other world, the money lender paid the son in settlement one hundred and sixty-seven pieces of silver.
“Thus in fifty years had the investment multiplied itself at rental almost seventeen times.
“This, then, is the third cure for a lean purse: to put each coin to laboring that it may reproduce its kind even as the flocks of the field and help bring to thee income, a stream of wealth that shall flow constantly into thy purse.”
The Fourth Cure — Guard Thy Treasures from Loss
“Misfortune loves a shining mark. Gold in a man’s purse must be guarded with firmness, else it be lost. Thus it is wise that we must first secure small amounts and learn to protect them before the Gods entrust us with larger.” So spoke Arkad upon the fourth day to his class.
“Every owner of gold is tempted by opportunities whereby it would seem that he could make large sums by its investment in most plausible projects. Often friends and relatives are eagerly entering such investment and urge him to follow.
“The first sound principle of investment is security for thy principal. Is it wise to be intrigued by larger earnings when thy principal may be lost? I say not. The penalty of risk is probable loss. Study carefully, before parting with thy treasure, each assurance that it may be safely reclaimed. Be not misled by thine own romantic desires to make wealth rapidly.
“Before thou loan it to any man assure thyself of his ability to repay and his reputation for doing so, that thou mayest not unwittingly be making him a present of thy hard-earned treasure.
“Before thou entrust it as an investment in any field acquaint thyself with the dangers which may beset it.
“My own first investment was a tragedy to me at the time. The guarded savings of a year I did entrust to a brickmaker, named Azmur, who was traveling over the far seas and in Tyre agreed to buy for me the rare jewels of the Phoenicians. These we would sell upon his return and divide the profits. The Phoenicians were scoundrels and sold him bits of glass. My treasure was lost. Today, my training would show to me at once the folly of entrusting a brickmaker to buy jewels.
“Therefore, do I advise thee from the wisdom of my experiences: be not too confident of thine own wisdom in entrusting thy treasures to the possible pitfalls of investments. Better by far to consult the wisdom of those experienced in handling money for profit. Such advice is freely given for the asking and may readily possess a value equal in gold to the sum thou considerest investing. In truth, such is its actual value if it save thee from loss.
“This, then, is the fourth cure for a lean purse, and of great importance if it prevent thy purse from being emptied once it has become well filled. Guard thy treasure from loss by investing only where thy principal is safe, where it may be reclaimed if desirable, and where thou will not fail to collect a fair rental. Consult with wise men. Secure the advice of those experienced in the profitable handling of gold. Let their wisdom protect thy treasure from unsafe investments.”
The Fifth Cure — Make of Thy Dwelling a Profitable Investment
“If a man setteth aside nine parts of his earnings upon which to live and enjoy life, and if any part of this nine parts he can turn into a profitable investment without detriment to his wellbeing, then so much faster will his treasures grow.” So spake Arkad to his class at their fifth lesson.
“All too many of our men of Babylon do raise their families in unseemly quarters. They do pay to exacting landlords liberal rentals for rooms where their wives have not a spot to raise the blooms that gladden a woman’s heart and their children have no place to play their games except in the unclean alleys.
“No man’s family can fully enjoy life unless they do have a plot of ground wherein children can play in the clean earth and where the wife may raise not only blossoms but good rich herbs to feed her family.
“To a man’s heart it brings gladness to eat the figs from his own trees and the grapes of his own vines. To own his own domicile and to have it a place he is proud to care for, putteth confidence in his heart and greater effort behind all his endeavors. Therefore, do I recommend that every man own the roof that sheltereth him and his.
“Nor is it beyond the ability of any well-intentioned man to own his home. Hath not our great king so widely extended the walls of Babylon that within them much land is now unused and may be purchased at sums most reasonable?
“Also I say to you, my students, that the money lenders gladly consider the desires of men who seek homes and land for their families. Readily may thou borrow to pay the brickmaker and the builder for such commendable purposes, if thou can show a reasonable portion of the necessary sum which thou thyself hath provided for the purpose.
“Then when the house be built, thou canst pay the money lender with the same regularity as thou didst pay the landlord. Because each payment will reduce thy indebtedness to the money lender, a few years will satisfy his loan.
“Then will thy heart be glad because thou wilt own in thy own right a valuable property and thy only cost will be the king’s taxes.
“Also wilt thy good wife go more often to the river to wash thy robes, that each time returning she may bring a goatskin of water to pour upon the growing things.
“Thus come many blessings to the man who owneth his own house. And greatly will it reduce his cost of living, making available more of his earnings for pleasures and the gratification of his desires. This, then, is the fifth cure for a lean purse: Own thy own home.”
The Sixth Cure — Insure A Future Income
“The life of every man proceedeth from his childhood to his old age. This is the path of life and no man may deviate from it unless the Gods call him prematurely to the world beyond. Therefore do I say that it behooves a man to make preparation for a suitable income in the days to come, when he is no longer young, and to make preparations for his family should he be no longer with them to comfort and support them. This lesson shall instruct thee in providing a full purse when time has made thee less able to learn.” So Arkad addressed his