From the ‘Art of Making Money’ by PT Barnum (1880)
There are men who think that economy consists in saving cheese-parings and candle-ends, in cutting off two pence from the laundress’ bill and doing all sorts of little, mean, things. Economy is not meanness. The misfortune is, also, that this class of persons let their economy apply in only one direction. They fancy they are so wonderfully economical in saving a half-penny where they ought to spend two pence, that they think they can afford to squander in other directions.
A few years ago, before kerosene oil was discovered or thought of, one might stop overnight at almost any farmer‘s house in the agricultural districts and get a very good supper, but after supper he might attempt to read in the sitting-room, and would find it impossible with the inefficient light of one candle. The hostess, seeing his dilemma, would say: "It is rather difficult to read here evenings; the proverb says ‘you must have a ship at sea in order to be able to burn two candles at once;’ we never have an extra candle except on extra occasions."
These extra occasions occur, perhaps, twice a year. In this way the good woman saves five, six, or ten dollars in that time: but the information which might be derived from having the extra light would, of course, far outweigh a ton of candles.
But the trouble does not end here. Feeling she is so economical in candles, she thinks she can afford to go frequently to the village and spend twenty or thirty dollars for ribbons and furbelows, which are not necessary.
Punch in speaking of this "one idea" class of people says "they are like the man who bought a penny herring for his family’s dinner and then hired a coach and four to take it home".
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