It would seem proper to discuss magnificence next. For this also seems to be a virtue concerned with wealth; but it does not like liberality extend to all the actions that are concerned with wealth, but only to those that involve expenditure; and in these it surpasses liberality in scale. For, as the name itself suggests, it is a fitting expenditure involving largeness of scale. But the scale is relative; for the expense of equipping a trireme is not the same as that of heading a sacred embassy. It is what is fitting, then, in relation to the agent, and to the circumstances and the object. The man who in small or middling things spends according to the merits of the case is not called magnificent (e.g. the man who can say ‘many a gift I gave the wanderer’), but only the man who does so in great things. For the magnificent man is liberal, but the liberal man is not necessarily magnificent. The deficiency of this state of character is called niggardliness, the excess vulgarity, lack of taste, and the like, which do not go to excess in the amount spent on right objects, but by showy expenditure in the wrong circumstances and the wrong manner; we shall speak of these vices later.

The magnificent man is like an artist; for he can see what is fitting and spend large sums tastefully. For, as we said at the begining, a state of character is determined by its activities and by its objects. Now the expenses of the magnificent man are large and fitting. Such, therefore, are also his results; for thus there will be a great expenditure and one that is fitting to its result. Therefore the result should be worthy of the expense, and the expense should be worthy of the result, or should even exceed it. And the magnificent man will spend such sums for honour’s sake; for this is common to the virtues. And further he will do so gladly and lavishly; for nice calculation is a niggardly thing. And he will consider how the result can be made most beautiful and most becoming rather than for how much it can be produced and how it can be produced most cheaply. It is necessary, then, that the magnificent man be also liberal. For the liberal man also will spend what he ought and as he ought; and it is in these matters that the greatness implied in the name of the magnificent man-his bigness, as it were-is manifested, since liberality is concerned with these matters; and at an equal expense he will produce a more magnificent work of art. For a possession and a work of art have not the same excellence. The most valuable possession is that which is worth most, e.g. gold, but the most valuable work of art is that which is great and beautiful (for the contemplation of such a work inspires admiration, and so does magnificence); and a work has an excellence-viz. magnificence-which involves magnitude. Magnificence is an attribute of expenditures of the kind which we call honourable, e.g. those connected with the gods-votive offerings, buildings, and sacrifices-and similarly with any form of religious worship, and all those that are proper objects of public-spirited ambition, as when people think they ought to equip a chorus or a trireme, or entertain the city, in a brilliant way. But in all cases, as has been said, we have regard to the agent as well and ask who he is and what m............