A group of high achievers, great leaders and richest businessmen held a meeting at the Edgewater Beach hotel in Chicago in 1923. Among those in that meeting were Charles Schwab, head of the largest independent steel company; Samuel Instill, president of the world’s largest utility; Howard Hopson, head of the largest gas company; Ivar Kreuger president of the International Match Co., one of the world’s largest companies at that time; Leon Frazier, president of the Bank of International Settlements; Richard Whitney, president of the New York Stock Exchange; Arthur Cotton and Jesse Livermore, two of the biggest stock speculators; and Albert Fall, a member of President Harding’s cabinet.
Twenty five years later, nine of them (those listed above) ended as follows. Schwab died penniless after living for five years on borrowed money. Instill died broke living in a foreign land. Kreuger and Cotton also died broke. Hopson went insane. Whitney and Albert Fall went to prison. Fraser and Livermore committed suicide.
This is a very pathetic account of men who laboured so much to accumulate great wealth. I’m in no way writing to criticize any of these personalities. But rather to point to what we can learn from the story of their lives.
One fundamental truth we must all appreciate about wealth is its tendency to be volatile. If definite steps are not taken to preserve riches, the financial success we celebrate today will spoil, rot, decay and stink. For truly, riches are perishables!
Riches certainly make themselves wings; they fly away as an eagle toward heaven. Yet we all desire not only to accumulate wealth but also to perpetuate it.
Perpetuating wealth is the perfect will of the creator concerning every man “A good man leaveth an inheritance to his children’s children……” Pro 13:22
“House and wealth are a heritage from fathers….”Pro 19:14
The challenge is how to perpetuate wealth despite its volatile nature? Listen friend, the wisdom of God tells us about durable riches. In God’s economy there is what is called durable riches. Riches can endure.
Riches and honour are with me; yea, durable riches and righteousness. Pro 8:18
“Therefore whosoever heareth these sayings of mine, and doeth them, I will liken him unto a wise man, which built his house upon a rock: And the rain descended, and the floods came, and the winds blew, and beat upon that house; and it fell not: for it was founded upon a rock. And every one that heareth these sayings of mine, and doeth them not, shall be likened unto a foolish man, which built his house upon the sand: And the rain descended, and the floods came, and the winds blew, and beat upon that house; and it fell: and great was the fall of it”. Mat 7:24-27
Please note that the two houses were subjected to the same climatic conditions, yet one stood firm and the other fell. It is obvious that the determining factor is about how we choose to build, and not the prevailing situations and circumstances. The same goes for our desire to build a great financial destiny. It is our choice to either build on the time tested and proven principles of the word of God that will determine whether what we are building will last or not.
The economic theories and policies of the world economies are failing. The world super economies are in financial trouble. America is in great debt, Greece, Italy…..are all crying financially.
Biblical principles of economics are the sure way to accumulate and perpetuate wealth. If your business and financial empire will not crash, it is wisdom for you to embrace and build on the wisdom of God.
To Your Prosperity
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