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In this quote, Edward Fitzgerald seems to be advising taking the certain benefits available now rather than waiting for or pursuing less definite future prospects. When he says to “take the Cash in hand and waive the Rest”, Fitzgerald implies it is better to accept readily available financial gains or rewards rather than holding out for other potential opportunities that may not materialize.
The quote suggests securing what monetary value or aid can be concretely obtained, rather than gambling on less certain “Rest” or remaining options down the road. Overall, Fitzgerald appears to be advocating for pragmatically taking full advantage of present benefits rather than relying on more uncertain or prospective alternatives.