Notes
The first idea that strikes you is how Babylon was a region that had no natural resources. All the riches of the city were created by man. Their wealth came from the ability of its people to articulate, promote value in their pro-activity.
Babylon became the wealthiest city of the ancient world because its citizens were the richest people of their time. They appreciated the value of money. They practiced sound financial principles in acquiring money, keeping money and making their money earn more money. They provided for themselves what we all desire…incomes for the future.
Babylon is an outstanding example of man’s ability to achieve great objectives, using whatever means are at his disposal. All of the resources supporting this large city were man-developed. All of its riches were manmade.
So far as we know, they were the original inventors of money as a means of exchange, of promissory notes and written titles to property.
Thou makest me to realize the reason why we have never found any measure of wealth. We never sought it.
In old Babylon there once lived a certain very rich man named Arkad. Far and wide he was famed for his great wealth. Also was be famed for his liberality. He was generous in his charities. He was generous with his family. He was liberal in his own expenses. But nevertheless each year his wealth increased more rapidly than he spent
"Wealth is a power. With wealth many things are possible.
And when youth comes to age for advice he receives the wisdom of years. But too often does youth think that age knows only the wisdom of days that are gone, and therefore profits not. But remember this, the sun that shines today is the sun that shone when thy father was born, and will still be shining when thy last grandchild shall pass into the darkness.
‘I found the road to wealth when I decided that a part of all I earned was mine to keep. And so will you.’
"That was sufficient to change the heart of a sheep
"But all I earn is mine to keep, is it not?’ I demanded. "Far from it,’ he replied. ‘Do you not pay the garment-maker? Do you not pay the sandal-maker? Do you not pay for the things you eat? Can you live in Babylon without spending? What have you to show for your earnings of the past mouth? What for the past year? Fool! You pay to everyone but yourself. Dullard, you labor for others. As well be a slave and work for what your master gives you to eat and wear. If you did keep for yourself one-tenth of all you earn, how much would you have in ten years?’
"My knowledge of the numbers did not forsake me, and I answered, ‘As much as I earn in one year.’ "You speak but half the truth,’ he retorted. ‘Every gold piece you save is a slave to work for you. Every copper it earns is its child that also can earn for you. If you would become wealthy, then what you save must earn, and its children must earn, that all may help to give to you the abundance you crave. "You think I cheat you for your long night’s work,’ he continued, 'but I am paying you a thousand times over if you have the intelligence to grasp the truth I offer you.
"A part of all you earn is yours to keep. It should be not less than a tenth no matter how little you earn. It can be as much more as you can afford. Pay yourself first. Do not buy from the clothes-maker and the sandal-maker more than you can pay out of the rest and still have enough for food and charity and penance to the gods.
"Wealth, like a tree, grows from a tiny seed. The first copper you save is the seed from which your tree of wealth shall grow. The sooner you plant that seed the sooner shall the tree grow. And the more faithfully you nourish and water that tree with consistent savings, the sooner may you bask in contentment beneath its shade.’
"I have given it to Azmur, the brick maker, who told me
“Every fool must learn,” he growled, 'but why trust the knowledge of a brick maker about jewels? Would you go to the bread maker to inquire about the stars? No, by my tunic, you would go to the astrologer, if you had power to think. Your savings are gone, youth, you have jerked your wealth-tree up by the roots. But plant another. Try again. And next time if you would have advice about jewels, go to the jewel merchant. If you would know the truth about sheep, go to the herdsman. Advice is one thing that is freely given away, but watch that you take only what is worth having. He who takes advice about his savings from one who is inexperienced in such matters, shall pay with his savings for proving the falsity of their opinions." Saying this, he went away.
maker to inquire about the stars? No, by my tunic,
“That is good. And what do you do with the rental?” “I do have a great feast with honey and fine wine and spiced cake. Also I have bought me a scarlet tunic. And some day I shall buy me a young ass upon which to ride.” To which Algamish laughed, "You do eat the children of your savings. Then how do you expect them to work for you? And how can they have children that will also work for you?
“Arkad,” he continued, “you have learned your lessons well. You first learned to live upon less than you could earn. Next you learned to seek advice from those who were competent through their own experiences to give it. And, lastly, you have learned to make gold work for you.”
“Will power!” retorted Arkad. "What nonsense. Do you think will power gives a man the strength to lift a burden the camel cannot carry, or to draw a load the oxen cannot budge? Will power is but the unflinching purpose to carry a task you set for yourself to fulfillment. If I set for myself a task, be it ever so trifling, I shall see it through. How else shall I have confidence in myself to do important things? Should I say to myself, ‘For a hundred days as I walk across the bridge into the city, I will pick from the road a pebble and cast it into the stream,’ I would do it.
When I set a task for myself, I complete it. Therefore, I am careful not to start difficult and impractical tasks, because I love leisure."
Wealth grows wherever men exert energy," Arkad replied. “If a rich man builds him a new palace, is the gold he pays out gone? No, the brickmaker has part of it and the laborer has part of it, and the artist has part of it. And everyone who labors upon the house has part of it Yet when the palace is completed, is it not worth all it cost? And is the ground upon which it stands not worth more because it is there? And is the ground that adjoins it not worth more because it is there? Wealth grows in magic ways. No man can prophesy the limit of it. Have not the Phoenicians built great cities on barren coasts with the wealth that comes from their ships of commerce on the seas?”
"I advise that you take the wisdom of Algamish and say to yourselves, ‘A part of all I earn is mine to keep.’ Say it in the morning when you first arise. Say it at noon. Say it at night. Say it each hour of every day. Say it to yourself until the words stand out like letters of fire across the sky.
Greater efforts will come to you to earn more. For of your increased earnings, will not the same percentage be also yours to keep?
"Then learn to make your treasure work for you. Make it your slave. Make its children and its children’s children work for you.
"Insure an income for thy future. Look thou at the aged and forget not that in the days to come thou also will be numbered among them. Therefore invest thy treasure with greatest caution that it be not lost. Usurious rates of return are deceitful sirens that sing but to lure the unwary upon the rocks of loss and remorse.
"Provide also that thy family may not want should the Gods call thee to their realms. For such protection it is always possible to make provision with small payments at regular intervals. Therefore the provident man delays not in expectation of a large sum becoming available for such a wise purpose. "Counsel with wise men. Seek the advice of men whose daily work is handling money. Let them save you from such an error as I myself made in entrusting my money to the judgment of Azmur, the brickmaker. A small return and a safe one is far more desirable than risk.
“Enjoy life while you are here. Do not overstrain or try to save too much. If one-tenth of all you earn is as much as you can comfortably keep, be content to keep this portion. Live otherwise according to your income and let not yourself get niggardly and afraid to spend. Life is good and life is rich with things worthwhile and things to enjoy.”
dividends. The turning point in these men’s lives came upon that day when they realized the truth that had come from Algamish to Arkad and from Arkad to them. A
A PART OF ALL YOU EARN IS YOURS TO KEEP.
THE FIRST CURE. Start thy purse to fattening
Arkad addressed a thoughtful man in the second row. “My good friend, at what craft workest thou?” “I,” replied the man, “am a scribe and carve records upon the clay tablets.” “Even at such labor did I myself earn my first coppers. Therefore, thou hast the same opportunity to build a fortune.”
In this way did Arkad proceed to find out how each man labored to earn his living. When he had done questioning them, he said: “Now, my students, ye can see that there are many trades and labors at which men may earn coins. Each of the ways of earning is a stream of gold from which the worker doth divert by his labors a portion to his own purse. Therefore into the purse of each of you flows a stream of coins large or small according to his ability. Is it not so?” Thereupon they agreed that it was so. “Then,” continued Arkad, “if each of you desireth to build for himself a fortune, is it not wise to start by utilizing that source of wealth which he already has established?” To this they agreed.
“All right,” he continued, “Now I shall tell thee the first remedy I learned to cure a lean purse. Do exactly as I have suggested to the egg merchant. For every ten coins thou placest within thy purse take out for use but nine. Thy purse will start to fatten at once and its increasing weight will feel good in thy hand and bring satisfaction to thy soul.
“Now I will tell a strange truth, the reason for which I know not. When I ceased to pay out more than nine-tenths of my earnings, I managed to get along just as well. I was not shorter than before. Also, ere long, did coins come to me more easily than before. Surely it is a law of the Gods that unto him who keepeth and spendeth not a certain part of all his earnings, shall gold come more easily.
THE SECOND CURE. Control thy expenditures
“Yesterday how many of thee carried lean purses?” “All of us,” answered the class. “Yet, thou do not all earn the same. Some earn much more than others. Some have much larger families to support. Yet, all purses were equally lean. Now I will tell thee an unusual truth about men and sons of men. It is this; That what each of us calls our ‘necessary expenses’ will always grow to equal our incomes unless we protest to the contrary.
“Yet, thou do not all earn the same. Some earn much more than others. Some have much larger families to support. Yet, all purses were equally lean. Now I will tell thee an unusual truth about men and sons of men. It is this; That what each of us calls our ‘necessary expenses’ will always grow to equal our incomes unless we protest to the contrary.
“Confuse not the necessary expenses with thy desires. Each of you, together with your good families, have more desires than your earnings can gratify. Therefore are thy earnings spent to gratify these desires insofar as they will go. Still thou retainest many ungratified desires.
“All men are burdened with more desires than they can gratify. Because of my wealth thinkest thou I may gratify every desire? ‘Tis a false idea. There are limits to my time. There are limits to my strength. There are limits to the distance I may travel. There are limits to what I may eat. There are limits to the zest with which I may enjoy.
“I say to you that just as weeds grow in a field wherever the farmer leaves space for their roots, even so freely do desires grow in men whenever there is a possibility of their being gratified. Thy desires are a multitude and those that thou mayest gratify are but few.
“Study thoughtfully thy accustomed habits of living. Herein may be most often found certain accepted expenses that may wisely be reduced or eliminated. Let thy motto be one hundred percent of appreciated value demanded for each coin spent.
“Therefore, engrave upon the clay each thing for which thou desireth to spend. Select those that are necessary and others that are possible through the expenditure of nine- tenths of thy income. Cross out the rest and consider them but a part of that great multitude of desires that must go unsatisfied and regret them not.
“Budget then thy necessary expenses. Touch not the one- tenth that is fattening thy purse. Let this be thy great desire that is being fulfilled. Keep working with thy budget, keep adjusting it to help thee. Make it thy first assistant in defending thy fattening purse.”
“This, then, is the second cure for a lean purse. Budget thy expenses that thou mayest have coins to pay for thy necessities, to pay for thy enjoyments and to gratify thy worthwhile desires without spending more than nine-tenths of thy earnings.”
THE THIRD CURE. Make thy gold multiply
Gold in a purse is gratifying to own and satisfieth a miserly soul but earns nothing. The gold we may retain from our earnings is but the start. The earnings it will make shall build our fortunes.” So spoke Arkad upon the third day to his class.
“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.
“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
“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.
“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.”
FIFTH CURE. Make of thy dwelling a profitable investment
“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.
do I recommend that every man own the roof that sheltereth him and his.
THE SIXTH CURE. Insure a future income
“The man who, because of his understanding of the laws of wealth, acquireth a growing surplus, should give thought to those future days. He should plan certain investments or provision that may endure safely for many years, yet will be available when the time arrives which he has so wisely anticipated.
“A man may buy houses or lands for this purpose. If wisely chosen as to their usefulness and value in the future, they are permanent in their value and their earnings or their sale will provide well for his purpose.
THE SEVENTH CURE. Increase thy ability to earn
This is the process by which wealth is accumulated: first in small sums, then in larger ones as a man learns and becomes more capable.
“Desires must be simple and definite. They defeat their own purpose should they be too many, too confusing, or beyond a man’s training to accomplish. “As a man perfecteth himself in his calling even so doth his ability to earn increase.
“The more of wisdom we know, the more we may earn. That man who seeks to learn more of his craft shall be richly rewarded. If he is an artisan, he may seek to learn the methods and the tools of those most skillful in the same line. If he laboreth at the law or at healing, he may consult and exchange knowledge with others of his calling. If he be a merchant, he may continually seek better goods that can be purchased at lower prices.
“He must pay his debts with all the promptness within his power, not purchasing that for which he is unable to pay.
“He must take care of his family that they may think and speak well of him.
“He must have compassion upon those who are injured and smitten by misfortune and aid them within reasonable limits. He must do deeds of thoughtfulness to those dear to him.
“Thus the seventh and last remedy for a lean purse is to cultivate thy own powers, to study andbecome wiser, to become more skillful, to so act as to respect thyself. Thereby shalt thou acquire confidence in thy self to achieve thy carefully considered desires.
“In tilling the soil, in honest trading, in all of man’s occupations, there is opportunity to make a profit upon his efforts and his transactions. Perhaps not all the time will he be rewarded because sometimes his judgment may be faulty and other times the winds and the weather may defeat his efforts. Yet, if he persists, he may usually expect to realize his profit. This is so because the chances of profit are always in his favor. “But, when a man playeth the games, the situation is reversed for the chances of profit are always against him and always in favor of the game keeper. The game is so arranged that it will always favor the keeper. It is his business at which he plans to make a liberal profit for himself from the coins bet by the players. Few players realize how certain are the game keeper’s profits and how uncertain are their
“Good luck fled from procrastination in both these tales. Yet, this is not unusual. The spirit of procrastination is within all men. We desire riches; yet, how often when opportunity doth appear before us, that spirit of procrastination from within doth urge various delays in our acceptance.
Old Kalabab smiled knowingly. “Hark,” he resumed, raising his hand. “Hear the wild dogs out there in the night. They howl and wail because they are lean with hunger. Yet feed them, and what do they? Fight and strut. Then fight and strut some more, giving no thought to the morrow that will surely come. “Just so it is with the sons of men. Give them a choice of gold and wisdom—what do they do? Ignore the wisdom and waste the gold. On the morrow they wail because they have no more gold.
“In Babylon it is the custom, as you know, that the sons of wealthy fathers live with their parents in expectation of inheriting the estate. Arkad did not approve of this custom. Therefore, when Nomasir reached man’s estate, he sent for the young man and addressed him: ” ‘My son, it is my desire that thou succeed to my estate. Thou must, however, first prove that thou art capable of wisely handling it. Therefore, I wish that thou go out into the world and show thy ability both to acquire gold and to make thyself respected among men.
THE FIVE LAWS OF GOLD Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earngs to create an estate for his future and that of his family. Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field. Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling. Gold slippeth away from the man who invests it in businesses or purposes with which he is not familiar or which are not approved by those skilled in its keep. Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment.
“Wealth that comes quickly goeth the same way. “Wealth that stayeth to give enjoyment and satisfaction to its owner comes gradually, because it is a child born of knowledge and persistent purpose.
The First Law of Gold Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family. “Any man who will put by one-tenth of his earnings consistently and invest it wisely will surely create a valuable estate that will provide an income for him in the future and further guarantee safety for his family in case the gods call him to the world of darkness. This law always sayeth that gold cometh gladly to such a man. I can truly certify this in my own life. The more gold I accumulate, the more readily it comes to me and in increased quantities. The gold which I save earns more, even as yours will, and its earnings earn more, and this is the working out of the first law.” The Second Law of Gold Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field. “Gold, indeed, is a willing worker. It is ever eager to multiply when opportunity presents itself. To every man who hath a store of gold set by, opportunity comes for its most profitable use. As the years pass, it multiplies itself in surprising fashion.” The Third Law of Gold Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling. “Gold, indeed, clingeth to the cautious owner, even as it flees the careless owner. The man who seeks the advice of men wise in handling gold soon learneth not to jeopardize his treasure, but to preserve in safety and to enjoy in contentment its consistent increase.” The Fourth Law of Gold Gold slippeth away from the man who invests it in businesses or purposes with which he is not familiar or which are not approved by those skilled in its keep. To the man who hath gold, yet is not skilled in its handling, many uses for it appear most profitable. Too often these are fraught with danger of loss, and if properly analyzed by wise men, show small possibility of profit. Therefore, the inexperienced owner of gold who trusts to his own judgment and invests it in business or purposes with which he is not familiar, too often finds his judgment imperfect, and pays with his treasure for his inexperience. Wise, indeed is he who investeth his treasures under the advice of men skilled In the ways of gold.” The Fifth Law of Gold Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment. “Fanciful propositions that thrill like adventure tales always come to the new owner of gold. These appear to endow his treasure with magic powers that will enable it to make impossible earnings. Yet heed ye the wise men for verily they know the risks that lurk behind every plan to make great wealth suddenly. “Forget not the rich men of Nineveh who would take no chance of losing their principal or tying it up in unprofitable investments. “This ends my tale of the five laws of gold. In telling it to thee, I have told the secrets of my own success.
“The farmer lingered in the barnyard to listen. “The ox began first. ‘You are my good friend. Because of your wise advice I have enjoyed a day of rest.’ ” ‘And I,’ retorted the ass, ‘am like many another simplehearted one who starts to help a friend and ends up by doing his task for him. Hereafter you draw your own plow, for I did hear the master tell the slave to send for the butcher were you sick again. I wish he would, for you are a lazy fellow.’ Thereafter they spoke to each other no more— this ended their friendship. Canst thou tell the moral to this tale, Rodan?” ” ‘Tis a good tale,” responded Rodan, “but I see not the moral.” “I thought not that you would. But it is there and simple too. Just this: If you desire to help thy friend, do so in a way that will not bring thy friend’s burdens upon thyself.”
“Thy sister is a sterling woman whom I do much esteem. Should her husband come to me and ask to borrow fifty pieces of gold I should ask him for what purpose he would use it. “If he answered that he desired to become a merchant like myself and deal in jewels and rich furnishings. I would say, ‘What knowledge have you of the ways of trade? Do you know where you can buy at lowest cost? Do you know where you can sell at a fair price?” Could he say ‘Yes’ to these questions?”
BETTER A LITTLE CAUTION THAN A GREAT REGRET
The walls of Babylon were an outstanding example of man’s need and desire for protection. This desire is inherent in the human race. It is just as strong today as it ever was, but we have developed broader and better plans to accomplish the same purpose. In this day, behind the impregnable walls of insurance, savings accounts and dependable investments, we can guard ourselves against the unexpected tragedies that may enter any door and seat themselves before any fireside. WE CANNOT AFFORD TO BE WITHOUT ADEQUATE PROTECTION
The hungrier one becomes, the clearer one’s mind works— also the more sensitive one becomes to the odors of food.
” ‘How can you call yourself a free man when your weakness has brought you to this? If a man has in himself the soul of a slave will he not become one no matter what his birth, even as water seeks its level? If a man has within him the soul of a free man, will he not become respected and honored in his own city in spite of his misfortune?’
We found the trail to Babylon because the soul of a free man looks at life as a series of problems to be solved and solves them, while the soul of a slave whines,
It has led men of all ages out of difficulties and into success and it will continue to do so for those who have the wisdom to understand its magic power. It is for any man to use who reads these lines. WHERE THE DETERMINATION IS, THE WAY CAN BE FOUND
Therefore seven-tenths of all I earn shall be used to provide a home, clothes to wear, and food to eat, with a bit extra to spend, that our lives be not lacking in pleasure and enjoyment. But he doth further enjoin the greatest care that we spend not greater than seven-tenths of what I earn for these worthy purposes. Herein lieth the success of the plan. I must live upon this portion and never use more nor buy what I may not pay for out of this portion.