This quotation can be viewed in the context of a book
"An average English word is four letters and a half. By hard, honest labor I've dug all the large words out of my vocabulary and shaved it down till the average is three and a half... I never write metropolis for seven cents, because I can get the same money for city. I never write policeman, because I can get the same price for cop.... I never write valetudinarian at all, for not even hunger and wretchedness can humble me to the point where I will do a word like that for seven cents; I wouldn't do it for fifteen."