In plain words
So along with our studies we must nourish our virtues.
Though he be a knower who has gathered all the śāstras and Purāṇas, though a brāhmin who teaches the Vedānta, with passion running high, in lovely mansions, though kings of kings who take their pleasure there, though one who on the battlefield has routed his foes and shines as the one hero of the world, though one who pines at the mercy of the goddess of poverty, a servant, lord of misfortune, without character he is of no use at all.
Without such character, what use is our learning? What use our wealth? What use our life? So we must give over our life, our wealth, our all to it, and win it. This we must develop as our chief resolve. If we develop this one resolve, we shall have conquered everything.
We must control these senses. Prahlāda was a small boy. He was like a brother to you. The small boy says to Hiraṇyakaśipu, the great demon: ‘Father! You conquered all the worlds in a moment, yet you cannot conquer the world of the senses and the mind. What use is it to conquer so much? You cannot conquer your own senses; what use is it to conquer so many kingdoms?’ He had searched the oceans. He had dug through the whole earth and searched. Everywhere he tried to probe into the reality of the Paramātma. He was all-powerful. Even such a Hiraṇyakaśipu could not conquer the senses. The reason: paśyatīti paśuvu. He set his whole gaze on Prakṛti alone. He developed only outward sight. He gave no thought at all to inward sight. So we too, as long as we cultivate outward sight, are beasts, beasts, beasts! On the day we develop the inner feelings, that very day we are emperors. So, king of kings, great king, O king! If you conquer the senses, you will become king over all kingdoms.