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The Chancellor of the Exchequer should boldly uphold economy in detail; and it is the mark of a chicken-hearted Chancellor when he shrinks from upholding economy in detail, when because it is a question of only two or three thousand pounds, he says it is no matter. He is ridiculed, no doubt, for what is called candle-ends and cheese-parings, but he is not worth his salt if he is not ready to save what are meant by candle-ends and cheese-parings in the cause of the country. No Chancellor of the Exchequer is worth his salt who makes his own popularity either his consideration, or any consideration at all, in administering the public purse. In my opinion, the Chancellor of the Exchequer is the trusted and confidential steward of the public. He is under a sacred obligation with regard to all that he consents to spend.

William Ewart Gladstone#21

PoliticsFinanceEconomy

About this quote

What does it mean?
A chancellor must save small amounts and avoid popularity contests to remain a trustworthy steward of public money.
In plain terms
Save every penny and ignore votes to protect the country's funds.
What can you take from it?
Public officials must prioritize fiscal duty over popularity.

Where it applies

  • budget meetings
  • policy debates
  • tax reviews

Putting it to work

  • review minor expenditures
  • avoid populist spending
  • audit small costs

Questions to consider

  • Should leaders ignore popularity for fiscal duty?
  • Are small savings worth the effort?

Another view

Focusing on small savings can sometimes distract from larger structural economic issues.

More from William Ewart Gladstone

  1. There should be a sympathy with freedom, a desire to give it scope, founded not upon visionary ideas, but upon the long experience of many generations within t…

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  2. As he [Disraeli] lived, so he died - all display, without reality or genuineness.

    Permalink to quote #22
  3. You should avoid needless and entangling engagements. You may boast about them, you may brag about them, you may say you are procuring consideration of the cou…

    Permalink to quote #19

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