When I was One-and-Twenty Foolishness and Folly Quotes
How we cite our quotes: line
When I was one-and-twenty (1, 9)
Here, the speaker is playing off the basic idea that young = stupid.
I heard a wise man say, (2)
Calling someone else wise means that, well, our speaker is comparatively less-than wise. That's another name for foolishness, friends.