1. Favour and disgrace would seem equally to be feared; honour and great calamity, to be regarded as personal conditions (of the same kind).

2. What is meant by speaking thus of favour and disgrace? Disgrace is being in a low position (after the enjoyment of favour). The getting that (favour) leads to the apprehension (of losing it), and the losing it leads to the fear of (still greater calamity):--this is what is meant by saying that favour and disgrace would seem equally to be feared. And wha............