Turn off the power for the circuit you are working on at the electrical distribution panel. In a knob-and-tube wiring system, this requires removing the fuse for the correct circuit by unscrewing it.
Confirm the power is off by touching a noncontact voltage detector to the wire's insulation. If the detector beeps or illuminates, there is still power in the wires.
Strip 3/8 inch of insulation off the black and white wires with wire strippers.
Loosen the brass hot and silver neutral terminals on the outlet with a screwdriver.
Wrap the black wire around the brass hot terminal and tighten it down.
Wrap the white wire around the silver neutral terminal and tighten it down.