Fascinating; I've always heard it attributed to Picasso, as "Good artists copy. Great artists steal.", but Wikiquote has that as unattributed and cites Eliot in 1920. Picasso would have been 39 then and was established well before that, so it's possible it originated from him.

Then again, given the nature of the quote, it's entirely possible that he stole it from Eliot ^_^.

Thanks for digging this up! The full Eliot quote is indeed magnificent.