Someone quoted this line to me today, so I chased down the song.  It is packed full of Biblical principles (wise use of resources, gratefulness for what you have, learning from parents, etc), but it’s also just a lot of fun to listen to it — the singer is very expressive. 🙂

Lyrics below (there seem to be a couple of versions running around, but I think this is the original).  To hear it played and sung, go to this page at The Library of Congress and click on the “Play mp3” link on the left hand side of the page.

You Never Miss the Water Till the Well Runs Dry

Rowland Howard, 19th century

When a child I lived at Lincoln
With my parents at the farm,
The lessons that my mother taught,
To me were quite a charm.
She would often take me on her knee
When tired of childish play,
And as she press’d me to her breast
I’ve heard my mother say:

Chorus:
Waste not, want not is a maxim I would teach,
Let your watchword be despatch, and practise what you preach;
Do not let your chances, like sunbeams pass you by,
For you never miss the water till the well runs dry.

As years roll’d on I grew to be
A mischief-making boy,
Destruction seemed my only sport,
It was my only joy;
And well do I remember,
When oft’times well chastised,
How father sat beside me then,
And thus has me advised:

When I arrived at manhood
I embarked in public life,
And found it was a rugged road
Bestrewn with care and strife;
I speculated foolishly,
My losses were severe,
But still a tiny little voice
Kept whisp’ring in my ear:

Then I studied strict economy,
And found to my surprise,
My funds instead of sinking,
Very quickly then did rise;
I grasp’d each chance and always struck
The iron while ’twas hot,
I seiz’d the opportunities,
And never once forgot:

I’m married now and happy,
I’ve a careful little wife;
We live in peace and harmony,
Devoid of care and strife;
Fortune smiles upon us,
We have little children three,
The lesson that I teach them
As they prattle on my knee: