The Way to Wealth or Father Abraham's Sermon is an essay written by Benjamin Franklin in 1758. It is a collection of adages and advice presented in Poor Richard's Almanack during its first 25 years of publication, organized into a speech given by "Father Abraham" to a group of people. Many of the phrases Father Abraham quotes continue to be familiar today. The essay's advice is based on the themes of work ethic and frugality.
Franklin's Way to Wealth; or, "Poor Richard Improved" by Benjamin Franklin | Project Gutenberg
Translated to modern English by AI
THE WAY TO WEALTH
by Benjamin Franklin
Dear reader,
I've heard that nothing makes an author happier than seeing their work respectfully quoted by others. So, imagine how pleased I was with the event I'm about to share with you. Recently, I stopped my horse at a spot where a large crowd had gathered for an auction of merchants' goods. Since the auction hadn't started yet, people were talking about how bad the times were. Someone in the group called out to an old, simple, and clean man with white hair, saying, "Tell us, Father Abraham, what do you think about the times? Won't these heavy taxes ruin the country? How will we ever pay them? What advice do you have for us?" Father Abraham stood up and said, "If you want my advice, I'll keep it short, as a word to the wise is enough, like Poor Richard says." The crowd urged him to share his thoughts, and they gathered around as he began to speak.
"Friends," he said, "the taxes are really heavy. If we only had to pay the ones from the government, it would be easier. But we have other 'taxes' that are even worse for some of us. Our laziness 'taxes' us times more, our pride times more, and our foolishness times more. No one can reduce these 'taxes' for us or take them away. But if we listen to good advice, we can improve things. 'God helps those who help themselves,' as Poor Richard says."
It would seem unfair if a government took one-tenth of people's time for its work. But laziness takes even more from us. Being idle can cause sickness, which cuts life short.
Laziness, like rust, destroys things faster than hard work wears them out, but a key that is used stays shiny—just like Poor Richard says. Do you love life? Then don't waste time, because time is what life is made of—Poor Richard says that too. How much extra time do we waste sleeping, forgetting that "a sleeping fox catches no chickens," and "there will be plenty of time to sleep in the grave"—just like Poor Richard wisely reminds us.
If time is the most valuable thing, then wasting it must be, as Poor Richard says, the worst kind of waste. He also reminds us, "Lost time is never found again, and what we think is plenty of time often turns out to be too little." So let's get to work and focus on what matters. With effort, we can get more done without as much hassle.
Being lazy makes everything harder, but hard work makes it easier. If you get up late, you'll have to rush all day and still might not finish everything; and if you're lazy, poverty will catch up to you quickly. Take control of your tasks—don't let them control you. And as Poor Richard says, 'Going to bed early and waking up early makes a person healthy, wealthy, and wise'
Why spend time just wishing and hoping for better times? We can make things better if we take action. "Hard workers don't need to wish, and if you live on hope alone, you'll stay hungry." You can't gain anything without effort, so pitch in and help, because I don't have land of my own—or if I do, the taxes are high. "If you have a skill, you have an asset, and if you have a job or purpose, it's like having an opportunity for both profit and respect," as Poor Richard says. But still, you need to work at that skill and follow through with that job, or neither your skill nor your job will help you pay those taxes.
If we work hard, we won't go hungry. "At a hardworking person's house, hunger may look in, but it won't dare come inside." And no debt collector or officer will bother us, because "Hard work pays off debt, but giving up only makes it worse." So what if you haven't found treasure or been left money by a rich relative? "Work and effort bring good luck, and God rewards those who work hard. Plow the land deeply while others sleep, and you'll have enough corn to use and sell."
Work today because you don't know what could slow you down tomorrow. "One today is worth two tomorrows," as Poor Richard says, and also, "Never put off to tomorrow what you can do today." If you were a servant, wouldn't you be embarrassed if your boss found you being lazy? Well, aren't you your own boss? You should be just as embarrassed to catch yourself being lazy, especially when there's so much to do for yourself, your family, your community, and your country.
Use your tools properly and without hesitation—after all, "A cat wearing gloves can't catch mice," as Poor Richard says. Yes, there's a lot to do, and maybe you feel like you're not strong enough, but if you stay consistent and keep going, you'll see progress. "Dripping water can wear down stones, patience and effort can let a mouse chew through a thick rope, and steady little strikes can chop down big oak trees."
I think I hear some of you ask, "Can't a person take a break?" Let me tell you what Poor Richard says: "Use your time wisely if you want to enjoy free time; and, since you're not guaranteed even a minute, don't waste an hour." Free time should be spent doing something useful. Hard workers can earn this kind of free time, but lazy people never will. This is because "A life of relaxation and a life of laziness are not the same." Many people try to live off their cleverness alone, without working, but they fail because they have nothing to back them up. On the other hand, hard work brings comfort, plenty, and respect. "Avoid chasing pleasures, and they will come to you. Hard workers always have what they need. And now that I have a sheep and a cow, everyone greets me kindly."
II. "But we also need to stay steady, focused, and careful in our work. We should manage our own tasks ourselves and not rely too much on others. As Poor Richard says,"
"I've never seen a tree moved often, or a family moved often, do as well as those that stay put."
"Moving three times is as bad as a fire."
"Take care of your shop, and your shop will take care of you."
"If you want your work done, go yourself. If not, send someone else."
"If you want to succeed through farming, you must either work the plow yourself or guide it."
"The boss looking at the work does more than both his hands."
"Not caring causes more harm than not knowing."
"Not watching workers is like leaving your wallet wide open."
Relying too much on others can cause big problems for many people. As they say, "In this world, people don't succeed because of trust, but because they are careful and don't rely on it." Taking care of things yourself is often best. As the saying goes, "If you want a reliable helper who does things your way, do it yourself." Even small neglect can lead to big trouble. "If a nail is missing, the shoe falls off; if the shoe falls off, the horse is lost; and if the horse is lost, the rider is defeated and killed by the enemy"—all because no one paid attention to a small horse-shoe nail.
III. "Now we've talked about hard work and focusing on your own tasks, my friends, but we also need to talk about saving money. If you want your hard work to really pay off, you must learn to be careful with your spending. A person who doesn't know how to save money might work hard their whole life, 'keep their nose to the grindstone,' and still end up with nothing in the end. 'A rich kitchen leads to a poor will,' and,
"Many fortunes are used up while being made, since women stopped spinning and knitting to have tea, and men stopped chopping and splitting wood for punch."
"If you want to be rich, think about saving money, not just earning it. Spain didn't get rich from the Indies because it spent more than it earned."
"Stop wasting money on useless things, and you won't have as much reason to complain about tough times, high taxes, and expensive families; because,"
"Women and wine, tricks and lies, Make the wealth small, and the want great."
And further, "What you spend on bad habits could raise two children." Maybe you think a little tea, some punch, fancier food, nicer clothes, or some occasional entertainment isn't a big deal. But remember, "A lot of small things add up to something big." Be careful with little expenses – "Even a small leak can sink a big ship," as Poor Richard says. He also says, "Loving fancy things leads to poverty," and "Fools throw feasts, and wise people eat them."
Here you all are, gathered to buy fancy trinkets and decorations. You call them "goods," but if you're not careful, they might turn out to be *bad* for you. You expect them to be cheap, and maybe they are – but if you don't actually need them, they're still too expensive for you. Remember what Poor Richard says: "If you buy what you don't need, you'll soon have to sell what you *do* need." And he also says, "Pause for a moment before buying something just because it seems like a bargain." Cheap things may only *seem* cheap; they might hurt your finances more than help. As Poor Richard warns, "Many people have ruined themselves chasing 'good deals.'"
And again, "It's foolish to spend money on something you'll regret later." But people do this all the time at auctions, simply because they ignore good advice. Many people have worn fine clothes, only to go hungry and half-starve their families. As Poor Richard says, "Silks, satins, scarlet, and velvet will put out your kitchen fire." These things aren't necessities – they're barely even useful – and yet so many people want them just because they look nice.
But fancy living and overspending can make even wealthy people poor. Then they end up borrowing money from people they once looked down on – people who stayed stable because they worked hard and saved wisely. In such cases, it's clear that "A hardworking farmer standing on his own two feet is better than a rich man begging on his knees," as Poor Richard says.
Sometimes people inherit a bit of money but don't know how to manage it. They think "The good times will last forever," and believe spending a little here and there doesn't matter. But, as Poor Richard warns, "If you keep taking from the barrel without refilling it, you'll soon hit the bottom." And then, "When the well runs dry, you'll finally understand how valuable water is."
This is something they could've known earlier if they had listened to advice. "If you want to know the value of money, try borrowing some," says Poor Richard, "because borrowing brings sorrow." And even the lender regrets it when it's time to collect the money back.
Poor Richard also gives more advice, saying...
"Loving fancy clothes is a real problem. Before thinking about style, think about your money."
"Pride is as loud as being poor and even more rude," says Poor Richard. When you buy one fancy thing, you'll feel like you have to buy ten more to match it. But Poor Richard says, "It's easier to stop the first want than to satisfy all the ones that come after." It's just as foolish for poor people to try to act rich as it is for a frog to puff itself up to look as big as an ox.
Big ships can take more risks, but small boats should stay close to the shore.
It's a mistake that gets punished quickly. As Poor Richard says, "Pride that feeds on vanity ends up being fed contempt;--Pride started the day with wealth, had poverty for lunch, and ended with shame." In the end, what's the point of this pride in looks that costs so much and causes so much trouble? It doesn't help you stay healthy, it doesn't take away pain, it doesn't make you a better person. Instead, it makes others jealous and brings trouble faster.
Why would you go into debt for things you don't really need? This sale offers six months of credit, and maybe that's why some of you are here—you don't have cash right now but hope to look good without paying immediately. But stop and think about what you're doing when you borrow money; you're giving someone else control over your freedom. If you can't pay on time, you'll feel ashamed to face the person you owe. You'll feel nervous talking to them, make weak excuses, and slowly lose your honesty. As Poor Richard says, "The second bad habit is lying, the first is borrowing money." He also says, "Lying rides on the back of debt." A free person shouldn't feel afraid or embarrassed to talk to anyone. But being in debt can crush your confidence and integrity. "An empty bag can't stand up straight."
Now imagine a king or government told you that you weren't allowed to dress nicely unless you wanted to risk imprisonment or slavery. Wouldn't you say you're free to dress however you want and that such rules are unfair and oppressive? Yet, when you borrow money to buy fancy clothes, you're putting yourself under the same kind of control. If you can't pay your creditor, they have the power to lock you up or even sell you as a servant.
When you first buy something on credit, you might not think much about paying it back, but creditors don't forget. Poor Richard warns, "Creditors have better memories than debtors; creditors are very strict about deadlines." The payment day always comes faster than you expect, and you might not be ready when it does. Even if you keep your debt in mind, the time you have to repay it will seem to shrink quickly. "Time flies," as they say. Poor Richard also mentions, "People who owe money by Easter will have a very short Lent."
Right now, you might think you're doing well financially and that a little extra spending won't hurt—but...
"Save money and prepare while you can, because no morning sun shines all day."
Earning money may not last long or be guaranteed, but spending is always constant and certain while you're alive. As Poor Richard says, "It's easier to build two chimneys than to keep one supplied with fuel." So, "It's better to go to bed without dinner than to wake up owing money."
Take what you can and keep it tight, [it's] the magic stone that turns lead to gold, alright!
When you have the Philosopher's Stone, you won't complain about hard times or how hard it is to pay taxes anymore.
This teaching, my friends, is smart and wise. But don't rely too much on your own hard work, saving, and careful planning, even though those are great things. They can all fail without Heaven's blessing. So, ask for that blessing humbly, and don't look down on or judge those who seem to need it right now. Instead, comfort and help them. Remember, Job went through hard times but was successful later.
To finish, "Experience is a tough teacher, but fools learn no other way," as Poor Richard says—and even then, they rarely learn! It's true that "We can give advice, but we can't make people act on it." Just remember, "Those who refuse advice can't be helped," and also, "If you won't listen to Reason, she'll eventually smack you," as Poor Richard says.
So, the old man finished his speech. The people listened, agreed with his ideas, and then immediately did the opposite—just like they would after hearing a regular sermon. The auction started, and they began spending money like crazy.
I could tell the old man had carefully read my Almanacks and thought deeply about everything I had written on these subjects over the past years. He mentioned me so many times that it probably would have annoyed anyone else, but it made me feel proud—even though I knew not even 10% of the wisdom he credited to me was actually mine. Most of it came from bits and pieces of knowledge I had collected from all over the world and throughout history.
Still, I decided to take his praise as a lesson for myself. I had planned to buy some cloth for a new coat, but instead, I left the auction determined to keep wearing my old coat a bit longer.
Reader, if you do the same, you'll gain as much as I did.
Yours always, ready to help, RICHARD SAUNDERS
by Benjamin Franklin
Dear reader,
I've heard that nothing makes an author happier than seeing their work respectfully quoted by others. So, imagine how pleased I was with the event I'm about to share with you. Recently, I stopped my horse at a spot where a large crowd had gathered for an auction of merchants' goods. Since the auction hadn't started yet, people were talking about how bad the times were. Someone in the group called out to an old, simple, and clean man with white hair, saying, "Tell us, Father Abraham, what do you think about the times? Won't these heavy taxes ruin the country? How will we ever pay them? What advice do you have for us?" Father Abraham stood up and said, "If you want my advice, I'll keep it short, as a word to the wise is enough, like Poor Richard says." The crowd urged him to share his thoughts, and they gathered around as he began to speak.
"Friends," he said, "the taxes are really heavy. If we only had to pay the ones from the government, it would be easier. But we have other 'taxes' that are even worse for some of us. Our laziness 'taxes' us times more, our pride times more, and our foolishness times more. No one can reduce these 'taxes' for us or take them away. But if we listen to good advice, we can improve things. 'God helps those who help themselves,' as Poor Richard says."
It would seem unfair if a government took one-tenth of people's time for its work. But laziness takes even more from us. Being idle can cause sickness, which cuts life short.
Laziness, like rust, destroys things faster than hard work wears them out, but a key that is used stays shiny—just like Poor Richard says. Do you love life? Then don't waste time, because time is what life is made of—Poor Richard says that too. How much extra time do we waste sleeping, forgetting that "a sleeping fox catches no chickens," and "there will be plenty of time to sleep in the grave"—just like Poor Richard wisely reminds us.
If time is the most valuable thing, then wasting it must be, as Poor Richard says, the worst kind of waste. He also reminds us, "Lost time is never found again, and what we think is plenty of time often turns out to be too little." So let's get to work and focus on what matters. With effort, we can get more done without as much hassle.
Being lazy makes everything harder, but hard work makes it easier. If you get up late, you'll have to rush all day and still might not finish everything; and if you're lazy, poverty will catch up to you quickly. Take control of your tasks—don't let them control you. And as Poor Richard says, 'Going to bed early and waking up early makes a person healthy, wealthy, and wise'
Why spend time just wishing and hoping for better times? We can make things better if we take action. "Hard workers don't need to wish, and if you live on hope alone, you'll stay hungry." You can't gain anything without effort, so pitch in and help, because I don't have land of my own—or if I do, the taxes are high. "If you have a skill, you have an asset, and if you have a job or purpose, it's like having an opportunity for both profit and respect," as Poor Richard says. But still, you need to work at that skill and follow through with that job, or neither your skill nor your job will help you pay those taxes.
If we work hard, we won't go hungry. "At a hardworking person's house, hunger may look in, but it won't dare come inside." And no debt collector or officer will bother us, because "Hard work pays off debt, but giving up only makes it worse." So what if you haven't found treasure or been left money by a rich relative? "Work and effort bring good luck, and God rewards those who work hard. Plow the land deeply while others sleep, and you'll have enough corn to use and sell."
Work today because you don't know what could slow you down tomorrow. "One today is worth two tomorrows," as Poor Richard says, and also, "Never put off to tomorrow what you can do today." If you were a servant, wouldn't you be embarrassed if your boss found you being lazy? Well, aren't you your own boss? You should be just as embarrassed to catch yourself being lazy, especially when there's so much to do for yourself, your family, your community, and your country.
Use your tools properly and without hesitation—after all, "A cat wearing gloves can't catch mice," as Poor Richard says. Yes, there's a lot to do, and maybe you feel like you're not strong enough, but if you stay consistent and keep going, you'll see progress. "Dripping water can wear down stones, patience and effort can let a mouse chew through a thick rope, and steady little strikes can chop down big oak trees."
I think I hear some of you ask, "Can't a person take a break?" Let me tell you what Poor Richard says: "Use your time wisely if you want to enjoy free time; and, since you're not guaranteed even a minute, don't waste an hour." Free time should be spent doing something useful. Hard workers can earn this kind of free time, but lazy people never will. This is because "A life of relaxation and a life of laziness are not the same." Many people try to live off their cleverness alone, without working, but they fail because they have nothing to back them up. On the other hand, hard work brings comfort, plenty, and respect. "Avoid chasing pleasures, and they will come to you. Hard workers always have what they need. And now that I have a sheep and a cow, everyone greets me kindly."
II. "But we also need to stay steady, focused, and careful in our work. We should manage our own tasks ourselves and not rely too much on others. As Poor Richard says,"
"I've never seen a tree moved often, or a family moved often, do as well as those that stay put."
"Moving three times is as bad as a fire."
"Take care of your shop, and your shop will take care of you."
"If you want your work done, go yourself. If not, send someone else."
"If you want to succeed through farming, you must either work the plow yourself or guide it."
"The boss looking at the work does more than both his hands."
"Not caring causes more harm than not knowing."
"Not watching workers is like leaving your wallet wide open."
Relying too much on others can cause big problems for many people. As they say, "In this world, people don't succeed because of trust, but because they are careful and don't rely on it." Taking care of things yourself is often best. As the saying goes, "If you want a reliable helper who does things your way, do it yourself." Even small neglect can lead to big trouble. "If a nail is missing, the shoe falls off; if the shoe falls off, the horse is lost; and if the horse is lost, the rider is defeated and killed by the enemy"—all because no one paid attention to a small horse-shoe nail.
III. "Now we've talked about hard work and focusing on your own tasks, my friends, but we also need to talk about saving money. If you want your hard work to really pay off, you must learn to be careful with your spending. A person who doesn't know how to save money might work hard their whole life, 'keep their nose to the grindstone,' and still end up with nothing in the end. 'A rich kitchen leads to a poor will,' and,
"Many fortunes are used up while being made, since women stopped spinning and knitting to have tea, and men stopped chopping and splitting wood for punch."
"If you want to be rich, think about saving money, not just earning it. Spain didn't get rich from the Indies because it spent more than it earned."
"Stop wasting money on useless things, and you won't have as much reason to complain about tough times, high taxes, and expensive families; because,"
"Women and wine, tricks and lies, Make the wealth small, and the want great."
And further, "What you spend on bad habits could raise two children." Maybe you think a little tea, some punch, fancier food, nicer clothes, or some occasional entertainment isn't a big deal. But remember, "A lot of small things add up to something big." Be careful with little expenses – "Even a small leak can sink a big ship," as Poor Richard says. He also says, "Loving fancy things leads to poverty," and "Fools throw feasts, and wise people eat them."
Here you all are, gathered to buy fancy trinkets and decorations. You call them "goods," but if you're not careful, they might turn out to be *bad* for you. You expect them to be cheap, and maybe they are – but if you don't actually need them, they're still too expensive for you. Remember what Poor Richard says: "If you buy what you don't need, you'll soon have to sell what you *do* need." And he also says, "Pause for a moment before buying something just because it seems like a bargain." Cheap things may only *seem* cheap; they might hurt your finances more than help. As Poor Richard warns, "Many people have ruined themselves chasing 'good deals.'"
And again, "It's foolish to spend money on something you'll regret later." But people do this all the time at auctions, simply because they ignore good advice. Many people have worn fine clothes, only to go hungry and half-starve their families. As Poor Richard says, "Silks, satins, scarlet, and velvet will put out your kitchen fire." These things aren't necessities – they're barely even useful – and yet so many people want them just because they look nice.
But fancy living and overspending can make even wealthy people poor. Then they end up borrowing money from people they once looked down on – people who stayed stable because they worked hard and saved wisely. In such cases, it's clear that "A hardworking farmer standing on his own two feet is better than a rich man begging on his knees," as Poor Richard says.
Sometimes people inherit a bit of money but don't know how to manage it. They think "The good times will last forever," and believe spending a little here and there doesn't matter. But, as Poor Richard warns, "If you keep taking from the barrel without refilling it, you'll soon hit the bottom." And then, "When the well runs dry, you'll finally understand how valuable water is."
This is something they could've known earlier if they had listened to advice. "If you want to know the value of money, try borrowing some," says Poor Richard, "because borrowing brings sorrow." And even the lender regrets it when it's time to collect the money back.
Poor Richard also gives more advice, saying...
"Loving fancy clothes is a real problem. Before thinking about style, think about your money."
"Pride is as loud as being poor and even more rude," says Poor Richard. When you buy one fancy thing, you'll feel like you have to buy ten more to match it. But Poor Richard says, "It's easier to stop the first want than to satisfy all the ones that come after." It's just as foolish for poor people to try to act rich as it is for a frog to puff itself up to look as big as an ox.
Big ships can take more risks, but small boats should stay close to the shore.
It's a mistake that gets punished quickly. As Poor Richard says, "Pride that feeds on vanity ends up being fed contempt;--Pride started the day with wealth, had poverty for lunch, and ended with shame." In the end, what's the point of this pride in looks that costs so much and causes so much trouble? It doesn't help you stay healthy, it doesn't take away pain, it doesn't make you a better person. Instead, it makes others jealous and brings trouble faster.
Why would you go into debt for things you don't really need? This sale offers six months of credit, and maybe that's why some of you are here—you don't have cash right now but hope to look good without paying immediately. But stop and think about what you're doing when you borrow money; you're giving someone else control over your freedom. If you can't pay on time, you'll feel ashamed to face the person you owe. You'll feel nervous talking to them, make weak excuses, and slowly lose your honesty. As Poor Richard says, "The second bad habit is lying, the first is borrowing money." He also says, "Lying rides on the back of debt." A free person shouldn't feel afraid or embarrassed to talk to anyone. But being in debt can crush your confidence and integrity. "An empty bag can't stand up straight."
Now imagine a king or government told you that you weren't allowed to dress nicely unless you wanted to risk imprisonment or slavery. Wouldn't you say you're free to dress however you want and that such rules are unfair and oppressive? Yet, when you borrow money to buy fancy clothes, you're putting yourself under the same kind of control. If you can't pay your creditor, they have the power to lock you up or even sell you as a servant.
When you first buy something on credit, you might not think much about paying it back, but creditors don't forget. Poor Richard warns, "Creditors have better memories than debtors; creditors are very strict about deadlines." The payment day always comes faster than you expect, and you might not be ready when it does. Even if you keep your debt in mind, the time you have to repay it will seem to shrink quickly. "Time flies," as they say. Poor Richard also mentions, "People who owe money by Easter will have a very short Lent."
Right now, you might think you're doing well financially and that a little extra spending won't hurt—but...
"Save money and prepare while you can, because no morning sun shines all day."
Earning money may not last long or be guaranteed, but spending is always constant and certain while you're alive. As Poor Richard says, "It's easier to build two chimneys than to keep one supplied with fuel." So, "It's better to go to bed without dinner than to wake up owing money."
Take what you can and keep it tight, [it's] the magic stone that turns lead to gold, alright!
When you have the Philosopher's Stone, you won't complain about hard times or how hard it is to pay taxes anymore.
This teaching, my friends, is smart and wise. But don't rely too much on your own hard work, saving, and careful planning, even though those are great things. They can all fail without Heaven's blessing. So, ask for that blessing humbly, and don't look down on or judge those who seem to need it right now. Instead, comfort and help them. Remember, Job went through hard times but was successful later.
To finish, "Experience is a tough teacher, but fools learn no other way," as Poor Richard says—and even then, they rarely learn! It's true that "We can give advice, but we can't make people act on it." Just remember, "Those who refuse advice can't be helped," and also, "If you won't listen to Reason, she'll eventually smack you," as Poor Richard says.
So, the old man finished his speech. The people listened, agreed with his ideas, and then immediately did the opposite—just like they would after hearing a regular sermon. The auction started, and they began spending money like crazy.
I could tell the old man had carefully read my Almanacks and thought deeply about everything I had written on these subjects over the past years. He mentioned me so many times that it probably would have annoyed anyone else, but it made me feel proud—even though I knew not even 10% of the wisdom he credited to me was actually mine. Most of it came from bits and pieces of knowledge I had collected from all over the world and throughout history.
Still, I decided to take his praise as a lesson for myself. I had planned to buy some cloth for a new coat, but instead, I left the auction determined to keep wearing my old coat a bit longer.
Reader, if you do the same, you'll gain as much as I did.
Yours always, ready to help, RICHARD SAUNDERS
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