Is this success?

                                                                                             Vol. XVII, No. 7, August 2004

[The following is reprinted from the Foundation for Moral Restoration newsletter of Richard J. Enrico, 1 January 2004. To contribute and/or subscribe: P.O. Box 1009, Ashburn, VA 20146; 703-724-4141.]

In 1923 a group of the world’s most successful financiers met at the Edgewater Beach Hotel in Chicago. Collectively these tycoons controlled more wealth than there was in the United States Treasury, and for years newspapers and magazines printed their success stories and urged young people to follow their examples.

Here is the rest of the story:

Charles Schwab – the president of the largest independent steel company, lived on borrowed money the last five years of his life, and died penniless.

Richard Whitney – the president of the New York Stock Exchange, served time in Sing Sing.

Albert Fall – a member of the President’s cabinet, was pardoned from prison so he could die at home.

Jesse Livermore – the greatest bear on Wall Street, committed suicide.

Leon Fraser – the president of the Bank of International Settlement, committed suicide.

Ivar Krueger – the head of the world’s greatest monopoly, committed suicide.

I Timothy 6:6-10 & 17-19: But godliness with contentment is great gain. For we brought nothing into this world, and it is certain we can carry nothing out. And having food and raiment let us therewith be content. But they that will be rich fall into temptation and a snare, and into many foolish and hurtful lusts, which drown men in destruction and perdition. For the love of money is the root of all [kinds of] evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows. ... Charge them that are rich in this world, that they be not high-minded, nor trust in uncertain riches, but in the living God, who giveth us richly all things to enjoy; That they do good, that they be rich in good works, ready to distribute, willing to communicate; Laying up in store for themselves a good foundation against the time to come, that they may lay hold on eternal life.