What Did They Forget?

When in 1923, nine of the wealthiest people in the world whose combined wealth, was estimated to exceed the wealth of the Government of the United States of America at that time met at Chicago's Edge Water Beach Hotel; the world was at their feet. These men, who certainly knew how to make a living and accumulate wealth were, the president of the largest steel company, the president of the largest utility company, the president of the largest gas company, the president of the New York Stock Exchange, the president of the Bank of International Settlements, the greatest Wheat Speculator, the greatest "bear" on Wall Street, the head of the World's greatest monopoly, and a member of President Harding's cabinet.

But 25 years later, the president of the then largest steel company (Bethlehem Steel Corp), Charles M Schwab, lived on borrowed capital for five years before he died bankrupt; the president of the then largest gas company, Howard Hubson, went insane; one of the greatest commodity traders (Wheat Speculator), Arthur Cutten, died insolvent; the then president of the New York Stock Exchange, Richard Whitney, was sent to jail; the member of President Harding's cabinet, Albert Fall, was pardoned from jail just to be able to go home and die in peace; the greatest “bear” on Wall Street, Jesse Livermore committed suicide; the president of the then world’s greatest monopoly, Ivar Krueger, also committed suicide; the president of the Bank of International Settlement, Leon Fraser, also committed suicide; and the president of the largest utility company, Samuel Insull, died penniless.

So, what did these men forget? They forgot, “How to make life, while they were busy making money.” Money in itself is not evil. Money provides food for the hungry, medicine for the sick, and clothes for the needy. Money is only a medium of exchange. They forgot that there are two kinds of education. One education teaches us how to make a living, and the other that teaches us how to live. Many of us are so engrossed in our professional lives that we neglect our families, our health and our social responsibilities. We feel we are doing it for our families, whereas our kids are sleeping when we leave home, and they are sleeping when we come back home. And twenty years later when we turn back, they’ll all be gone, to pursue their own dreams and their own lives.

We should appreciate that, without water, a ship cannot move. While a ship needs water, if the water gets into the ship, the ship will face existential problems. What was once a means of living for the ship will become a means for its, destruction. Similarly, earning which is a necessity shouldn’t be allowed to get into our hearts; so that what was once a means of living may not become a means of destruction for us as well. So take a moment and ask yourself, "Has the water entered my ship?"