The present King of Spain would not have undertaken or conquered in so many enterprises if he had been reputed liberal.

A prince, therefore, provided that he has not to rob his subjects, that he can defend himself, that he does not become poor and abject, that he is not forced to become rapacious, ought to hold of little account a reputation for being mean, for it is one of those vices which will enable him to govern.
And if any one should say: Caesar obtained empire by liberality, and many others have reached the highest positions by having been liberal, and by being considered so, I answer: Either you are a prince in fact, or in a way to become one.

In the first case this liberality is dangerous, in the second it is very necessary to be considered liberal; and Caesar was one of those who wished to become pre-eminent in Rome; but if he had survived after becoming so, and had not moderated his expenses, he would have destroyed his government.

And if any one should reply: Many have been princes, and have done great things with armies, who have been considered very liberal, I reply: Either a prince spends that which is his own or his subjects' or else that of others.

In the first case he ought to be sparing, in the second he ought not to neglect any opportunity for liberality.