For the excellence of a possession is not the same as the excellence of a product or work of art: as a possession, that is most precious or estimable which is worth most, e.g. gold; as a work of art, that is most estimable which is great and beautiful: for the sight of such a work excites admiration, and a magnificent thing is always admirable; indeed, excellence of work on a great scale is magnificence.

Now, there is a kind of expenditure which is called in a special sense estimable or honourable, such as expenditure on the worship of the gods ( e.g. offerings, temples, and sacrifices), and likewise all expenditure on the worship of heroes, and again all public service which is prompted by a noble ambition; e.g. a man may think proper to furnish a chorus or a warship, or to give a public feast, in a handsome style.