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It is the multi-millionaires who set and force the pace—the families with incomes of more than a quarter of a million a year. “A man with a hundred thousand a year,” said the late Pierre Lorillard, with humorous seriousness, “is in the unhappy position where he can see what a good time he could have if he only had the money.” And he added that easy circumstances meant “a thousand dollars a day—and expenses.”

Properly and comfortably to live in the style which New York most envies and admires and encourages, a family should have an income of three-quarters of a million at least. But by economy and abstention from too great self-indulgence, and by Spartan resistance to many fascinating temptations, they may keep up the appearances of a very high degree of luxury on a quarter of a million a year. Of course, they cannot have very many or very grand houses; they must not think of racing stables; they would do well to keep out of yachts; they must expect to be frequently and far outshone in jewels and in entertainments; they must keep down their largess, their benevolences. But they can have a small house in town, one or two more in the country, can entertain creditably if they do not entertain too often, and can live—if they are prudent—free from the harassments of money cares.

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