Three Treasures (Taoism) - Tao Te Ching

Sanbao "three treasures" first occurs in Tao Te Ching chapter 67, which Lin Yutang (1948:292) says contains Laozi's "most beautiful teachings":

天下皆谓我道大，似不肖。夫唯大，故似不肖。若肖，久矣其细也夫！
我有三宝，持而保之。一曰慈，二曰俭，三曰不敢为天下先。
慈故能勇；俭故能广；不敢为天下先，故能成器长。
今舍慈且勇；舍俭且广；舍后且先；死矣！
夫慈以战则胜，以守则固。天将救之，以慈卫之。

Every one under heaven says that our Way is greatly like folly. But it is just because it is great, that it seems like folly. As for things that do not seem like folly — well, there can be no question about their smallness!
Here are my three treasures. Guard and keep them! The first is pity; the second, frugality; the third, refusal to be 'foremost of all things under heaven'.
For only he that pities is truly able to be brave;
Only he that is frugal is able to be profuse.
Only he that refuses to be foremost of all things
Is truly able to become chief of all Ministers.
At present your bravery is not based on pity, nor your profusion on frugality, nor your vanguard on your rear; and this is death. But pity cannot fight without conquering or guard without saving. Heaven arms with pity those whom it would not see destroyed. (tr. Waley 1958:225)

Arthur Waley describes these Three Treasures as, "The three rules that formed the practical, political side of the author's teaching (1) abstention from aggressive war and capital punishment, (2) absolute simplicity of living, (3) refusal to assert active authority."