He used to say: There ain't a doubt
Misfortune is a bitter pill,
But if you only pry it out
You'll find there's good in every ill.

There's comfort in the worst of woe,
There's consolation in defeat .
Oh what a solace-seeker! So
We called him Compensation Pete.


He lost his wealth - but was he pipped?
Why no - "That's fine," he used to say.

"I've got the government plumb gypped -
No more damn income tax to pay.

From cares of property set free,
And with no pesky social ties,
Why, even poverty may be
A benediction in disguise.

He lost his health: "Okay," he said;
"I'm getting on, may be the best.

I've always loved to lie abed,
And now I have the right to rest.

Such heaps o' things I want to do,
I'll have no time to fret or brood.

I'll read the dam ol' Bible through:
Guess it'll do me plenty good.

He has that line of sunny shine
That makes a blessing of a curse,
And he would say: "Don't let's repine,
Though things are bad they might be worse.

And so he cherished to the end
Philosophy so sane and sweet
That everybody was his friend .

With optimism hard to beat -
God bless old Compensation Pete.