Neither A Borrower Nor A Lender Be Quotes

Neither a borrower, nor a lender be; For loan oft loses both itself and friend, And borrowing dulls the edge of husbandry. This above all: to thine own self be true,   85 And it must follow, as the night the day, Thou canst not then be false to any man. Farewell; my blessing season this in thee!

Give thy thoughts no tongue, Nor any unproportioned thought his act. Be thou familiar, but by no means vulgar; Those friends thou hast, and their adoption tried, Grapple them to thy soul with hoops of steel, But do not dull thy palm with entertainment Of each new-hatched unfledged comrade. Beware Of entrance to a quarrel, but being in, Bear’t that th’opposèd may beware of thee. Give every man thy ear, but few thy voice; Take each man’s censure, but reserve thy judgement. Costly thy habit as thy purse can buy, But not expressed in fancy; rich, not gaudy; For the apparel oft proclaims the man, And they in France of the best rank and station Are most select and generous, chief in that. Neither a borrower nor a lender be, For loan oft loses both itself and friend, And borrowing dulls the edge of husbandry. This above all: to thine own self be true; And it must follow, as the night the day, Thou canst not then be false to any man.

Yet here, Laertes? Aboard, aboard, for shame! The wind sits in the shoulder of your sail, And you are stay'd for. There, my blessing with thee. And these few precepts in thy memory See thou character. Give thy thoughts no tongue, Nor any unproportion'd thought his act. Be thou familiar, but by no means vulgar. Those friends thou hast, and their adoption tried, Grapple them to thy soul with hoops of steel; But do not dull thy palm with entertainment Of each new-hatch'd, unfledged comrade. Beware Of entrance to a quarrel; but being in, Bear't that the opposed may beware of thee. Give every man thy ear, but few thy voice; Take each man's censure, but reserve thy judgment. Costly thy habit as thy purse can buy, But not express'd in fancy; rich, not gaudy; For the apparel oft proclaims the man, And they in France of the best rank and station Are of a most select and generous, chief in that. Neither a borrower nor a lender be; For loan oft loses both itself and friend, And borrowing dulls the edge of husbandry. This above all: to thine own self be true, And it must follow, as the night the day, Thou canst not then be false to any man. Farewell. My blessing season this in thee!

I found myself listening to Walter Bjork's fascinating radio program Bible Questionnaire (WFME, Orange, N.J.), and a caller asked where in the Bible one would find the statement "Neither borrower nor lender be." The poor host flipped like mad through his concordance without success. Naturally, since the quote is not from the Bible at all, but from Shakespeare's Hamlet! But it sounded biblical, so caller and host alike attributed it to scripture. Can it have been much more difficult to naively attribute wise sayings to Jesus?

Shakespeare vs. Keynesian Economics {Couplet} If 'Neither a lender nor a borrower be', investments would dry up, economies stagnate, and off to the poorhouse go you and me.

The academic auspices under which we meet this afternoon, prompt me to introduce my remarks with a literary reference. I recall for you a few lines of Shakespeare, from Hamlet where Polonius bids farewell to his son Laertes: "Neither a borrower nor a lender be, For loan oft loses both itself and friend And borrowing dulls the edge of husbandry." This was undoubtedly necessary advice from a father to a son about to leave for France. but it is clear that Polonius was neither a banker nor a Californian. If he had been a banker, he might have commented on the merits of good collateral as compared to the possible loss of a few friends. And if he had been a Californian, caught in the vigor of a growth economy, the idea of not being a borrower would never have occurred to him. Therefore, it should not be surprising that a California banker has come to say something on behalf of debt.