Note 13 — II HARVARD PAPERS (continued 2)

For the sake of lucidity, I keep the expense account and the income account distinct. For example, a man reports that he has spent $700 a year, winning each year a scholarship of $200, and earning by tutoring $100, and $50 by some other means. The balance against him is only $350 a year; but I have included him in the group of $700 spenders.