private state > private condition, personal life
3 Who swelling sails in Caspian Sea does cross,
Who > [Whoever, he who] cross > hoist, set in position
4 And in frail wood on Adrian Gulf does fleet,
Adrian Gulf > (The Adriatic Sea, which, like the Caspian, was notoriously stormy) fleet > float; sail
5 Does not, I ween, so many evils meet."
ween > think
6 Then Mammon, waxing wroth, "And why then," said,
waxing > growing, becoming
7 "Are mortal men so fond and undiscreet,