He who sits by the fire, thankless for the fire, is just as if he had no fire. Nothing is possessed save in appreciation, of which thankfulness is the indispensable ingredient.

Cameron frames gratitude as the condition that turns a mere circumstance into a real possession. The image of someone warming himself at a fire yet remaining “thankless” suggests that physical proximity to a good (comfort, security, love, prosperity) is not the same as inwardly receiving it. Without appreciation, benefits become psychologically inert—present but not owned in any meaningful sense. The second sentence generalizes the point: possession is not only legal or material but experiential, and thankfulness is the key ingredient that completes experience into value. The quote thus critiques entitlement and habituation, urging a disciplined attentiveness that keeps ordinary goods from becoming invisible.