Indianapolis Times, Volume 43, Number 122, Indianapolis, Marion County, 30 September 1931 — Page 7
SEPT. 30, 1931
WEALTHY SCOFF AT MACFADDEN VIEW OF RICHES Financial Leaders of City Disagree With Publisher’s Unhappiness Brand. "Wealth make* mollycoddle* of It* pn,e**or and leaves them unhappy. "Voa can’t find a single happy family In the wealthy class. Wealth for them means os teat lon and display. "Families that inherit money are even Worse. The family degenerates with •ach generation." —BIRNARR MACFADDFN. Indianapolis leaders in the world Os finance and business today refused to agree with the views of Barnarr Macfadden, publisher of health magazines, that wealth makes people unhappy. Further, they disagreed with Macfadden, „ who just has announced the giving away of $5,000,000 to a charitable foundation to perpetuate his health ideas, in his view that money makes mollycoddles of its possessors. “When Bernarr Macfadden says that money makes for unhappiness, I believe he is mistaken,” said A. L. Block, president of L. Strauss & Cos. “And when he says wealth is likely to convert its possessors into flabby mollycoddles, I think again he is mistaken. Branded “Advertising” “I am not a bit flabby and still I am working. “I think part of thus is an advertising gesture and Macfadden is gifted in advertising. It seems to me he could do as much or more with his money. “I was on Wall Street last week and I met a number of wealthy men, hot a one of them the least bit flabby. They told me they had the Wall Street bear by the tail and were going to hold on. Wealth hasn’t made them flabby. “Personally, I disagree most heartily with Mr. Macfadden’s views In their entirety.” “It’s not true, of course, that money makes flabby mollycoddles of persons who have it,” said E. C. Atkins, president of E. C. Atkins & Cos. “If a man has enough money to give away, he can do what he wants with it.” Rauh Attacks Hoarding “I don’t believe that wealth makes people unhappy,” stated Hugh McK. Landon, vice-president and chairman of the executive committee of the Fletcher Savings and Trust Company. “Os course, it depends on the individual, I suppose. That’s all I have to say.” “It’s better to gjve money than to hoard it,” asserted S. E. Rauh, chairman of the Belt Railroad board of directors. “The hoarding of capital is a bad thing. Macfadden seems to have done that in the past.” “I know Mr. Macfadden and have been a guest in his home,” recalled William Fortune, vicepresident of Russell Fortune. Inc. “He is a man of generous impulses and high ideals. He is right in saying that wealth does not make happiness, but neither does poverty. The right use of wealth for good purposes is useful in making happiness. Happiness in Giving “When people haven’t money to give, they can make happiness by giving themselves. Much is gained when they can give both. “The happiest people I have known are the most unselfish.” "Happiness comes from people being gainfully employed so that they continuously can maintain the same standard of living to which they are accustomed,” said L. L. Goodman, treasurer of Real Silk Hosiery Company. “Chief cause of unhappiness is when people have to Interrupt their standard of living and change it, particularly downward; because of interrupted employment and continuing fear of lack of employment.”
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THE INDIANAPOLIS TIMES
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