The day book. [volume] (Norfolk, Va.) 1857-1867, 1857-10-21

was insured.
Bsg- A sensible correspondent of one
of the Baltimore journals, the other day,
expressed the novel, hut yet perfectly to-
nable opinion that extravaganza in per-
sonal expenditures is not in any wise,
public evil. The same thought must
have occurred occasionally to most re-
flectiug minds, notwithstanding the shall
low aid clamorous commonplace of thin
king that would Indignantly frown it
down. There are many current maxims
of economy which are faulty and ilu-
sive. OF these, it seems to us, is that
trite proverb of Poor Richard, standing
as it does as the representative of nu-
merous class: "Take care Of the pence.
and the pounds will take care of them
selves" Better exceedingly,is that saga
cious old Saxon saw of "penny wise and
pound foolish" The sentiment of this
latter sayingis found, too, in the scriptu-
raj mention Of those who are particularly
observant in the small things of mint
annise and cummiu, while they neglect
the weightier matters of the law which
pertain to salvation. We submit, then,
that both in antiquity and dignity of ori-
gin, and in solid prudence, it is superior
to the rule of Dr.. Franklin.
At first thought, most men would adj
init at once that extravaganza is an evil,
and that close outstanding Of his earn
ings on the part Of each man, is the sur
est means of general prosperity and
wealth. There is distinction to be made,
however, which these people forget, be-
tween an individual injury and what is
plainly detrimental to the community -
So far as the welfare of the public goes,
the expanding of money however freely is
only taking out of one pocket to put
into another, and involves no waste nor
loss. 1t is not like the sinking of treas
ure in the sea, or the destruction of prop
erty by flood Or fire. The money remains
in the community, with this difference,
certainly not an unfavorablc one, that in
stead of being boarded it is kept in gen.
eral circulation. When money is hoard
ed, it becomes dead--or rather goes to
sleep-it lies idle and ceases to perform
its good-natured function of making the
wheels of traffic move easily and smooth
~.
"But," it may bo said Ivy the Pharisce
in economy, "the expenditures depre-
cate are for articles of foreign luxury;and
you will assuredly admit that the money
which goes abroad to pay for them, is lost
TO our community and leaves it so much
the pc orer." We should answer our good
friend, briefly that this argument is too rad
ical, since it initiates at once against all
International trade and would remand us,
forthwith, to barbarism. 1t strikes at the
root of commerce., and of that civilization
which is its outgrowth. The mere neces-
sites Of life are doubtless very few but
unless we arc willing to become savages
again, and build about our borders Chi
nese wall--or that perhaps improved bra
zon one, "heaven-high," suggested by
New York paper-we cannot altogether
dispense with Injuries. Maybe our sage
economist believes that the primitive state
of barbarism is the normal" condition Of
society. He must remember, however,
that even the Indian has his trinkets and
his beads. But we do not wish to lapse
into speculation or to enter any tourna-
raent of instructions, and Wa will leave
the subject.