Sentence:  We are all hurrying down the one common stream to the great ocean of eternity: but are we performing our social duties, as citizens of the world, in sculking away into holes and corners, to <WSD>fret</WSD> out time and life, because God has judged fit to withdraw the favourite toy he lent us—not making us destitute—but graciously leaving in our keeping, ten thousand toys beside. 
Meaning of the word marked with <WSD> tags:  "In the form" '''fret out''': to squander, to waste.