The letter Y was a symbolical representation of the course of human life. Youth, arriving at manhood, sees two roads before him, and deliberates which he shall pursue. If he meet with a guide that directs him to pursue philosophy, and he procures initiation, his life shall be honorable and his death happy. But if he omits to do this, and takes the left hand path, which appears broader and better, it will lead to sloth and luxury; will waste his estate, impair his health, and bring on an old age of infamy and misery.”

Source:
Macoy, Robert “Illustrated History and Cyclopedia of Freemasonry; Containing An Elaborate Account of the Rise and Progress of Freemasonry, and Its Kindred Associations–Ancient And Modern. Also, definitions of the Technical Terms Used by the Fraternity.” (New York: Macoy Publishing and Masonic Supply Co., 1908) p. 312