Frugal or just cheap?

A print of John Gay's "The Miser and Plutus," by William Blake (1793). Plutus was the Greek god of wealth.

“All Yankees are known for their frugality, I suppose, but well-to-do Yankees most perfectly embody the idea. In no other part of the country are the rich cheap.’’

— John Sedgwick, in the September 1991 Yankee Magazine