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. The quickest way to get at the reason for this curious state of affairs, that may seem to many a flamboyant jest rather than conservatively presented reality, is to look at the life of the typical New York multi-millionaire of the extravagant class. There are multi-millionaires, scores of them, who do not belong in this extravagant class; but there are not so many outside of it now as there were five years ago. Our up-to-date, luxury-hunting, luxury-teaching Mr. Multi-Millionaire has a fortune which is estimated at thirty millions, but is ten millions more or less in the widest fluctuations of the stock market. His income is about a million and a half a year, but he usually spends three-quarters of a million, and relies upon speculation to put him in funds for extraordinary expenditures, such as a new house, a large gift to education or charity, a large purchase of pictures or jewels. As human beings compare themselves only with those in better circumstances, he counts himself poor rather than rich--his fellow-citizens, the Oil King, and the Copper King, and the Sugar King, and the Steel King, and the Telegraph King, and the Tobacco King, and the Real Estate King are what he calls rich. He thinks himself unlucky rather than lucky; he avoids intimacy with men of smaller fortunes and no fortunes unless he has known them long, because he suspects that he is usually sought with a view to exploitation--and he is not far from right. He thinks he is opposed to ostentation, severely criticises his richer neighbors and loudly applauds frugality. He has a wife who is forty-five years old and passes for “about thirty.” They have a son who has been out of college four years, and after learning enough of business to supervise a fortune, has settled down to the life of a “gentleman”; a daughter, who came out last winter and who is being guarded by her mother, her companion, her aunt and her sophisticated self against the wiles of fortune-hunters wearing Cupid’s livery; a son who was at Groton, is now a sophomore at Harvard; a daughter nine years old.