In 1923, eight of the wealthiest people in the world met. Their combined
wealth, it is estimated, exceeded the wealth of the government of the United
States at that time. These men certainly knew how to make a living and
accumulate wealth. But let's examine what happened to them 25 years later.
1.
President of the largest steel company, Charles Schwab, lived on borrowed
capital for five years before he died bankrupt.
2. President of the largest gas
company, Howard Hubson, went insane.
3. One of the greatest commodity traders,
Arthur Cutton, died insolvent.
4. President of the New York Stock Exchange,
Richard Whitney, was sent to jail.
5. A member of the President's Cabinet,
Albert Fall, was pardoned from jail to go home and die in peace.
6. The greatest
"bear" on Wall Street, Jessie Livermore, committed suicide.
7.President
of the world's greatest monopoly, Ivar Krueger, committed suicide.
8. President
of the Bank of International Settlement, Leon Fraser, committed suicide.
What
they forgot was how to make a life! It is stories like this that give the
readers the false impression that money is the root of all evil. That is not
true. Money provides food for the hungry, medicine for the sick, clothes for
the needy. Money is only a medium of exchange.
We need two kinds of education.
One that teaches us how to make a living and one that teaches us how to live.
There are people who are so engrossed in their professional life that they
neglect their family, health and social responsibilities. If asked why they do
this they would reply that they were doing it for their family.
Our kids are
sleeping when we leave home. They are sleeping when we come home. Twenty years
later, we turn back, and they are all gone. We have no family left. That is
sad.
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