Struggles and Triumphs · Chapter
The Art of Money Getting explained
Barnum presents his lecture on financial wisdom, emphasizing the importance of newspapers, avoiding outside speculations, not endorsing without security, and practicing true economy.
What happens
Barnum presents his lecture on financial wisdom, emphasizing the importance of newspapers, avoiding outside speculations, not endorsing without security, and practicing true economy. He recounts the successful reception of his lecture in London and his experiences at Cambridge, where he deftly handled interruptions from undergraduates.
Themes in this chapter
Financial Wisdom and Economy
Barnum expounds on true economy, warning against false savings and emphasizing that income must exceed outgo.
Resilience in Adversity
Barnum's lecture tour and financial recovery demonstrate his determination to overcome past failures.
Showmanship and Humbug
Barnum's clever retort to the Cambridge student and his ability to turn potential heckling into entertainment reflect his showman instincts.
Characters to notice
- P. T. Barnum
Delivers the lecture 'The Art of Money Getting' across England, reflecting on his financial recovery and engaging with audiences.
- General Tom Thumb
Mentioned in the context of Punch's earlier publicity and Barnum's prior tours.
- Joice Heth
Referenced by a Cambridge undergraduate; Barnum responds humorously, calling the student one of her 'posterity'.
Key passages
“He who is without a newspaper is cut off from his species.”
A person who does not read newspapers is isolated from the rest of humanity.
Barnum stresses the importance of staying informed through newspapers.
“If a man has plenty of money he ought to invest something in everything that appears to promise success and that will probably benefit mankind; but let the sums thus invested be moderate in amount, and never let a man foolishly jeopardize a fortune that he has earned in a legitimate way, by investing it in things in which he has had no experience.”
A wealthy person should invest modestly in promising ventures that benefit humanity, but never risk an entire fortune on unfamiliar businesses.
Barnum advises caution and moderation in investments outside one's expertise.
“True economy consists in always making the income exceed the outgo.”
Real economy means ensuring that your earnings are always greater than your expenses.
Barnum defines the core principle of financial prudence.