P. T. Barnum · Public domain edition · 60 cards · 17 chapters
P. T. Barnum’s The Art of Money Getting argues that financial success depends on steady economy, suitable work, sound location, health, and avoiding debt. This deck covers his practical maxims on spending, vocation, business placement, and credit.
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Chapter 1 · Question
According to Barnum, what simple principle does true economy consist of?
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Chapter 1 · Answer
Barnum says true economy consists in always making income exceed outgo—expending less than we earn, as Franklin put it. He insists economy is not meanness: it is not saving cheese-parings and candle-ends while squandering elsewhere. He recommends keeping a margin in favor of income, and warns that many fail through misunderstanding economy rather than through ignorance of it.
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GOLDEN RULES FOR MAKING MONEY4 cards
According to Barnum, what simple principle does true economy consist of?
Barnum says true economy consists in always making income exceed outgo—expending less than we earn, as Franklin put it. He insists economy is not meanness: it is not saving cheese-parings and candle-ends while squandering elsewhere. He recommends keeping a margin in favor of income, and warns that many fail through misunderstanding economy rather than through ignorance of it.
Chapter 1
What does Barnum mean by 'penny wise and pound foolish' economy?
He describes people who economize in only one direction—saving candle-ends or old envelopes—then feel entitled to squander elsewhere on ribbons, parties, or carriages. He cites Franklin's 'saving at the spigot and wasting at the bung-hole' and Punch's man who bought a penny herring then hired a coach and four to carry it home. Barnum says he never knew anyone to succeed by this kind of economy.
Chapter 1
What practical method does Barnum recommend for curing extravagance and mistaken economy?
When a person has a good income but no surplus at year's end, Barnum advises forming a paper book and recording every item of expenditure, posted daily or weekly in two columns: 'necessaries' (or comforts) and 'luxuries.' He predicts the luxury column will be double, treble, or ten times the other. He also urges laying by a 'nest-egg' at interest or invested in land.
Chapter 1
What role does Barnum assign to health, and what does he say about violating nature's laws?
Barnum calls good health the foundation and substratum of success and happiness, since a sick person lacks ambition and force to accumulate a fortune; he concedes some cannot help bad health. He argues we should study the laws of health, i.e., nature's laws, because infractions always bring penalties—even the 'sin of ignorance' is not excused, as when a child burns its finger.
Chapter 1
DON'T MISTAKE YOUR VOCATION3 cards
What advice does Barnum give young men choosing a vocation?
The author argues that the safest and most success-assuring plan for a young man starting in life is to select the vocation most congenial to his tastes. He criticizes parents and guardians who assign careers to children regardless of their natural inclinations or genius, illustrating with a father who assigns vocations to his boys without consulting their aptitudes.
Chapter 2
How does Barnum illustrate that people differ in natural aptitude?
He claims there is as much diversity in brains as in countenances. Of a dozen ten-year-old boys, two or three will be whittling ingenious devices or working with locks and machinery, having loved puzzles since age five; these are natural mechanics. The other eight or nine have different aptitudes, and Barnum places himself among them.
Chapter 2
What examples does Barnum give of people who mistook their calling?
He says many people have mistaken their calling, from the blacksmith up or down to the clergyman. He cites the 'learned blacksmith,' an extraordinary linguist who ought to have been a language teacher, and notes that some lawyers, doctors, and clergymen were better fitted by nature for the anvil or the lapstone.
Chapter 2
SELECT THE RIGHT LOCATION3 cards
What two location mistakes does Barnum warn against when starting a business?
Barnum warns against locating where there is no railroad communication or public travel, and against starting a business where there are already enough competitors to meet all demands in the same occupation. He illustrates the first with a hotel keeper in a small village, and states both errors would ruin a person despite skill in their trade.
Chapter 3
Why did Barnum call the London penny-show showman's location bad?
Barnum judged the showman excellent at his trade but badly located, telling him his talents were thrown away there. He offered the showman two years' engagement in his New York Museum, after which the man ran a traveling show from New Orleans and was worth sixty thousand dollars, which Barnum credits to the right vocation and proper location.
Chapter 3
How did the showman defend his lean wax figure of Henry VIII?
When Barnum noted the figure was lean and lank while Henry VIII was a stout old king, the showman replied that anyone would be lean and lank if they sat there as long as the figure had. Barnum said there was no resisting such arguments and told his friend they should leave, admitting the showman beat him.
Chapter 3
AVOID DEBT3 cards
What exception does Barnum allow to his rule against going into debt?
Barnum says he does not speak of merchants buying and selling on credit, or of those who buy on credit in order to turn the purchase to a profit. He illustrates with a Quaker's advice to his son: never get trusted, but if you do, let it be for manure, because that will help pay it back. Debt for food, drink, and clothing is to be avoided.
Chapter 4
What does Barnum say about creditors' memories and interest?
Barnum warns that no class of people has such good memories as creditors: when the sixty days run out, you must pay, and failing that you break your promise and probably resort to a falsehood. If you give a note on interest, it works against you—the creditor wakes richer each morning while you grow poorer sleeping, since interest accumulates against you.
Chapter 4
How does Barnum compare money to fire and to a servant?
Barnum argues money is like fire: an excellent servant but a terrible master. When interest piles up against you, it keeps you down in the worst kind of slavery; but money working for you is the most devoted servant, working night and day in wet or dry weather. He cites the Puritans earning interest even on Sunday, and John Randolph's "pay as you go" as the philosopher's stone.
Chapter 4
PERSEVERE4 cards
According to Barnum, what can naturally lazy people do about perseverance?
The author argues that although some people are "born tired," naturally lazy, and lacking self-reliance and perseverance, these qualities can be cultivated. He cites Davy Crockett's maxim: "Be sure you are right, then go ahead," urging readers to develop go-aheaditiveness and determination so the "horrors" or "blues" do not make them relax their energies in the struggle for independence.
Chapter 5
What does Barnum say happens to those who hesitate near their goal?
The author argues that many have almost reached the goal of their ambition but, losing faith in themselves, relaxed their energies and lost the golden prize forever. He cites Shakespeare's tide taken at the flood leading to fortune, warning that if you hesitate, some bolder hand will stretch out before you and get the prize.
Chapter 5
How does Barnum connect perseverance to self-reliance?
The author argues perseverance is sometimes but another word for self-reliance. He says many people naturally look on the dark side and borrow trouble, then seek advice and are governed by one wind and blown by another, unable to rely on themselves. Until you can rely upon yourself, he says, you need not expect to succeed.
Chapter 5
What contrast does Barnum draw between two equally gifted generals?
The author argues that of two generals equally trained and gifted, the one with perseverance succeeds while the one lacking it fails. The hesitating general, told the enemy has cannon, halts every man to reflect and is ruined by hesitation. The general of pluck and self-reliance goes into battle with a will, inspiring soldiers to fortitude, valor, and triumph.
Chapter 5
WHATEVER YOU DO, DO IT WITH ALL YOUR MIGHT4 cards
According to Barnum, what does the maxim 'Be cautious and bold' mean?
The author credits the elder Rothschild with the maxim "Be cautious and bold," which he calls an apparent paradox but not a real contradiction. He explains it as exercising caution in laying your plans, but being bold in carrying them out. A man who is all caution never dares to act; a man who is all boldness is reckless and must eventually fail. Both are needed to insure success.
Chapter 6
What does Barnum say about luck and success?
The author argues there is no such thing as luck. He says a man might find a purse of gold once in his life, but he is as liable to lose it as to find it. "Like causes produce like effects": if a man adopts proper methods, luck will not prevent his success, and if he fails there are reasons, even if he cannot see them.
Chapter 6
How does Barnum use the story of Mahomet and the camel?
Barnum recounts that Mahomet, encamped in the desert, overheard a fatigued follower say he would loose his camel and trust it to God. The prophet replied, "No, no, not so—tie thy camel, and trust it to God!" Barnum uses this, alongside Cromwell's advice to keep the powder dry, to argue that people must do their own part of the work before trusting Providence for the rest.
Chapter 6
What does Barnum say about learning a business through personal experience?
The author argues no man can expect success unless he understands his business, and nobody understands it thoroughly unless he learns it by personal application and experience. The employer's eye is often worth more than the hands of a dozen employees, since an agent cannot be as faithful to the employer as to himself. Mistakes aid him if he heeds them, as the Yankee tin-peddler resolved never to be cheated that way again.
Chapter 6
USE THE BEST TOOLS3 cards
What does Barnum say an employer should do with an employee who demands an exorbitant raise?
Barnum advises letting him go, and says he always discharges such an employee for two reasons: first, to convince him his place may be supplied, and second, because he is good for nothing if he thinks he is invaluable and cannot be spared. Barnum nonetheless prefers keeping valuable employees when possible, to profit from their accumulated experience.
Chapter 7
Why does Barnum say a good employee is worth more this year than last?
Because he learns something every day, and the employer benefits from the experience he acquires. Barnum argues such a worker is the last man to part with, provided his habits are good and he stays faithful, and that keeping him serves both parties through reasonable salary advances over time.
Chapter 7
In the Beecher illustration, what distinguishes the most desirable employee?
Employees offer progressively more: one has hands and a finger that thinks, another two thinking fingers, a third all fingers and thumbs that think. The winner says he has a brain that thinks — he thinks all over, a thinking as well as a working man. Barnum uses this to argue the brain is an important element in an employee, since hands without heads are worth little.
Chapter 7
DON'T GET ABOVE YOUR BUSINESS4 cards
Why does Barnum say starting with borrowed money is a mistake?
The author argues a young man will not succeed with borrowed money because money is worthless unless its value is learned by experience. He cites Mr. Astor's claim that the first thousand dollars was harder to accumulate than all the later millions. Barnum says a boy given twenty thousand dollars will likely lose it all within a year, since nothing is worth anything unless it costs effort.
Chapter 8
What habits does Barnum say are needed to accumulate a fortune?
Barnum lists self-denial, economy, patience, perseverance, and beginning with capital you have earned. He says nine out of ten rich men in the country started as poor boys with determined wills, industry, economy, and good habits, making their own money gradually and saving it. He calls this the best way to acquire a fortune, citing Girard, Stewart, Astor, and Vanderbilt as examples.
Chapter 8
What does Barnum say happens to children raised in luxury?
The author argues that young heirs raised in luxury never learn money's real value because they never earned any. Petted and flattered, they become arrogant and self-conceited, spend lavishly on friends, and acquire bad habits that in most cases ruin them in health, purse, and character. Barnum says young men loaded with other people's money almost surely lose their inheritance, so poor and rich families cycle across generations.
Chapter 8
How does Barnum compare business status in England and America?
Barnum says that in England the business makes the man: a mechanic or working-man is not recognized as a gentleman. He recalls the Duke of Wellington assuming General Tom Thumb's father was a gentleman, then reacting with surprise on hearing he was a carpenter. In America, Barnum argues, the man makes the business, so anyone in a legitimate trade, from blacksmith to lawyer, may be a gentleman.
Chapter 8
DO NOT SCATTER YOUR POWERS3 cards
What single business practice does Barnum advise in this chapter?
The author advises engaging in one kind of business only and sticking to it faithfully until you succeed, or until experience shows you should abandon it. He compares this to constant hammering on one nail, which will generally drive it home at last so it can be clinched.
Chapter 9
What does Barnum say happens to a mind focused on one object?
The author argues that when a man's undivided attention is centered on one object, his mind constantly suggests improvements of value. These ideas would escape him if his brain were occupied by a dozen different subjects at once, so focus produces practical insights that scattered attention destroys.
Chapter 9
Why does Barnum say many fortunes are lost?
The author states that many a fortune has slipped through a man's fingers because he was engaged in too many occupations at a time. He endorses the old caution against having too many irons in the fire at once, tying scattered effort directly to lost wealth.
Chapter 9
BE SYSTEMATIC4 cards
According to the author, what does being systematic in business accomplish?
The author argues that a person who does business by rule, with a time and place for everything and prompt work, will accomplish twice as much with half the trouble of the careless, slipshod worker. System, doing one thing at a time, and punctuality also leave leisure for pastime and recreation, while the half-doer's business stays at loose ends and the day's work is never done.
Chapter 10
What limit does the author place on being systematic?
The author argues there is a limit: one must preserve the happy medium, because it is possible to be too systematic. He gives the example of people who put things away so carefully they can never find them again, comparing this to Washington 'red tape' and Dickens' 'Circumlocution Office'—all theory and no result.
Chapter 10
How did the Astor House proprietors demonstrate their fire-bell system?
When twelve o'clock at night arrived and guests were around, a proprietor would have a bell touched; within two minutes sixty servants, each with a water-bucket in each hand, would appear in the hall. The landlord told the guests this was their fire-bell, proving they were quite safe because they did everything systematically. This was before Croton water was introduced to the city.
Chapter 10
What did Pat the waiter do when told to follow the landlord's system?
Pat, the Irish 'Boots' pressed into waiting, was told to give each gentleman soup and then ask what they wanted next. One guest ate his soup; the other asked Pat to take it away and bring fish. Remembering the landlord's instructions about system, Pat refused: 'Not till ye have ate yer supe!' The author says this carried system entirely too far.
Chapter 10
READ THE NEWSPAPERS4 cards
Why does Barnum say a man without a newspaper is 'cut off from his species'?
The author argues that a trustworthy newspaper keeps a person thoroughly posted on the transactions of the world. In an age of telegraphs and steam, important inventions and improvements arise in every branch of trade, and whoever does not consult newspapers will soon find himself and his business left out in the cold.
Chapter 11
What does Barnum identify as common causes of sudden poverty among the newly rich?
The author lists intemperance, gaming and other bad habits, and frequently engagement in 'outside operations.' A man made rich in his legitimate business is flattered by friends telling him he is born lucky, and if he forgets that economical habits, rectitude and personal attention to a business he understood caused his success, he listens to the siren voices.
Chapter 11
How does the 'outside operations' trap unfold for a wealthy man?
He is told of a grand speculation promising a score of thousands and puts in twenty thousand, expecting sixty thousand back. Soon he must add ten thousand more, then twenty thousand more for a rich harvest; before he can realize, the bubble bursts and he loses all he possesses, learning what he should have known first.
Chapter 11
What does Barnum say about investing and the risk to an earned fortune?
The author argues that a man with plenty of money ought to invest something in everything that appears to promise success and probably benefits mankind, but the sums should be moderate. A man should never foolishly jeopardize a fortune earned in a legitimate way by investing in things in which he has had no experience.
Chapter 11
DON'T INDORSE WITHOUT SECURITY4 cards
What limit does Barnum set on endorsing notes for anyone, even family?
Barnum holds that no man should ever endorse a note or become security for anyone, including his father or brother, beyond what he can afford to lose and care nothing about—unless he takes good security. He argues this limit protects both parties, since refusing to endorse without ample security keeps the borrower within his tether.
Chapter 12
How does easy access to endorsed credit lead the borrower astray, per Barnum?
Barnum argues that getting money too easily tempts people into hazardous speculation outside their business. The borrower who repeatedly discounts endorsed notes grows used to cash without effort, then speculates; when the speculation fails, he hides the loss, tries again, and ruins both parties. Barnum adds that one should also say, "I have also ruined him."
Chapter 12
What does Barnum say about young men and learning the value of money?
Barnum advises that a young man starting in business should first understand the value of money by earning it. Only once he grasps that value should others grease the wheels a little to help him start. Barnum argues that men who get money with too great facility cannot usually succeed; the first dollars must come through hard knocks and sacrifice to be appreciated.
Chapter 12
Which proverb does Barnum cite, and what principle does it support?
Barnum quotes Solomon: "he that hateth suretiship is sure." He uses it to support his rule against endorsing notes without ample security, arguing that letting people get money too easily tempts them into hazardous speculation. The proverb closes his warning that endorsing without security endangers both the endorser and the borrower.
Chapter 12
ADVERTISE YOUR BUSINESS4 cards
According to Barnum, what must be true of goods before they are advertised?
Barnum insists that those who deal with the public must be careful that their goods are valuable, genuine, and will give satisfaction. Only when you know an article will please customers and make them feel they got their money's worth should you let the fact be known. Advertising a spurious article may draw one-time buyers, but they will denounce you as an impostor and your business will gradually die out.
Chapter 13
What does the French writer quoted by Barnum say about repeated newspaper insertions?
The French writer describes a progression: the reader does not see the first mention of an ordinary advertisement, sees but does not read the second, reads the third, looks at the price on the fourth, speaks of it to his wife on the fifth, is ready to purchase on the sixth, and purchases on the seventh. Barnum uses this to argue advertisers must keep advertising until the public understands what they sell.
Chapter 13
How did Genin the hatter turn a Jenny Lind ticket into advertising?
Genin bought the first Jenny Lind ticket at auction for two hundred and twenty-five dollars, and when the auctioneer asked who the bidder was, the answer 'Genin, the hatter' spread through newspapers and telegraph from Maine to Texas. Barnum reports he sold ten thousand extra hats per annum for the first six years, with many buyers coming out of curiosity and returning because he gave them an equivalent for their money.
Chapter 13
What exceptions does Barnum allow to newspaper advertising?
Barnum says he does not claim everyone must advertise in a newspaper or use printers' ink at all. Although that channel is indispensable in most cases, doctors, clergymen, and sometimes lawyers and others can more effectively reach the public in some other manner. Still, he insists they must be known in some way, or they could not be supported.
Chapter 13
BE POLITE AND KIND TO YOUR CUSTOMERS4 cards
What does Barnum call the best capital ever invested in business?
Barnum states that politeness and civility are the best capital ever invested in business. He argues that large stores, gilt signs, and flaming advertisements will all prove unavailing if the owner or employees treat patrons abruptly. He adds that the more kind and liberal a man is, the more generous the patronage bestowed upon him, citing the principle "like begets like."
Chapter 14
According to Barnum, what happens to men who drive sharp bargains with customers?
Barnum argues that men who drive sharp bargains with customers, acting as if they never expect to see them again, will not be mistaken: they will never see them again as customers. He ties this to the golden rule, saying people don't like to pay and get kicked also, and that giving good goods for the least sum while reserving a profit succeeds best in the long run.
Chapter 14
Why did Barnum refuse to let his usher whip an insulting customer?
The usher wanted to whip a man who called him no gentleman. Barnum replied that the man pays for that and whipping him won't convince him otherwise; he could not afford to lose a customer, since the man would never return and would steer friends to rival amusements. Barnum noted the insult would matter only if the customer owned the Museum and the usher had paid him.
Chapter 14
What joke did Barnum's usher make after accepting the policy?
After laughingly remarking that Barnum's approach was undoubtedly the true policy, the usher added that he should not object to an increase of salary if he was expected to be abused in order to promote Barnum's interest. The exchange follows Barnum's argument that employees must put up with customers' bad manners because the customer pays while the business receives.
Chapter 14
BE CHARITABLE3 cards
According to Barnum, what is the best kind of charity?
The author argues the best charity is helping those willing to help themselves. He condemns promiscuous almsgiving that ignores the worthiness of the applicant as bad in every sense. Instead, one should search out and quietly assist those struggling for themselves, which he calls the kind that "scattereth and yet increaseth."
Chapter 15
What does Barnum say about giving prayers instead of food to the hungry?
Barnum warns against the practice of giving a prayer instead of a potato and a benediction instead of bread to the hungry. He argues it is easier to make Christians with full stomachs than with empty ones, meaning practical material help should accompany or precede spiritual comfort.
Chapter 15
Besides duty, what practical benefit does Barnum claim charity brings?
The author argues that even as a matter of policy, the liberal man commands patronage while the sordid, uncharitable miser is avoided. He cites Solomon's saying that one who scatters yet increases, while one who withholds more than is meet tends to poverty. He adds that the only true charity is that which comes from the heart.
Chapter 15
DON'T BLAB2 cards
What does Barnum say about writing letters in business?
Barnum acknowledges that business men must write letters, but insists they be careful what they put in them. He cites Goethe's Mephistophilles: "Never write a letter nor destroy one." Since writing is unavoidable, the safeguard is caution about the contents rather than avoiding correspondence.
Chapter 16
According to Barnum, what should you do if you are losing money?
The author argues that if you are losing money you should be especially cautious and not tell of it. His stated reason is that revealing losses will cause you to lose your reputation. This is presented as practical advice about protecting your standing, not as a moral duty.
Chapter 16
PRESERVE YOUR INTEGRITY4 cards
What advice does Barnum attribute to the old miser, and how does he judge it?
Barnum cites the miser telling his sons: "Get money; get it honestly if you can, but get money." He calls this advice both atrociously wicked and the essence of stupidity, since it implies that if honesty is difficult, one should simply get money dishonestly. Barnum argues dishonesty is actually the hardest path, noting prisons are full of men who tried it.
Chapter 17
According to Barnum, what practical benefit does strict honesty bring even to a poor man?
Barnum argues that a man known to be strictly honest, however poor, has the purses of the whole community at his disposal, because people know he will repay what he borrows. He adds that integrity secures a peace and joy money cannot purchase, and invokes Dr. Franklin's maxim that "honesty is the best policy" — even as a matter of selfishness.
Chapter 17
How does Barnum distinguish being rich from being successful?
Barnum states that getting rich is not always equivalent to being successful. He says there are many rich poor men, while honest and devout people who never possessed as much money as some rich persons squander in a week are nevertheless really richer and happier than any transgressor of the higher laws of his being can be.
Chapter 17
What does Barnum say about money itself versus the love of money, and about money-getters generally?
Barnum says the inordinate love of money may be the root of all evil, but money properly used is a handy thing that lets its possessor bless humanity. He calls the desire for wealth nearly universal and laudable if responsibilities are accepted, and argues money-getters are generally benefactors, credited with our academies, colleges and churches. Misers are exceptions, like hypocrites in religion.
Chapter 17
Source and licence
Text used: Project Gutenberg eBook #8581 (Public domain in the United States). Generated from the full text; cards paraphrase the source.
Version: Public domain edition. Retrieved 2026-10-18. Cards reviewed 2026-10-18.
These cards paraphrase the text for study. They are not a substitute for reading the book, and they do not reproduce long passages.
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