The Master said, ‘If the scholar be not grave, he will not call forth any veneration, and his learning will not be solid. Hold faithfulness and sincerity as first principles. Have no friends not equal to yourself. When you have faults, do not fear to abandon them.’
The familiar line is the final clause of a four-part maxim; it is almost always quoted on its own, stripped of the sentences before it.
✓Public domain
The Chinese original is ancient and long out of copyright. The exact English wording shown is James Legge’s translation, first published in The Chinese Classics, Vol. 1 (Hong Kong & London, 1861) — well before 1931 — so this specific rendering is also in the public domain in the United States.
⚠ This reflects the original work, which is public domain. If your exact English wording comes from a specific modern translation, that translation may itself still be under copyright — check the edition you quote.