With all thy getting, get understanding, is the banner under which these Forbes editorials have appeared since the first issue of the publication. We have no illusions about what great wealth can do and what it cannot do. We believe in the worthwhileness of striving by all worthy means to attain success and to attain wealth. Simply because we are convinced that no amount of money is worth the sacrifice of one's better instincts, of one's self-respect-of one's soul, if you wish-simply because we are convinced that riches not gained legitimately and decently are not worth having.

Frank W. Woolworth once told me that the turning-point in his career did not come until he was thrown flat on his back by illness. He was sure that his business would go to pieces during his long, enforced absence. Instead, he discovered that he had in his employ men who could overcome difficulties when given power to exercise initiative. After that Woolworth left many problems and difficulties to be solved by subordinates and turned his attention to big things.

Honesty pays dividends both in dollars and in peace of mind.

If the World War [I] demonstrated anything it was that government ownership is fraught with the gravest dangers and usually leads to disaster. Take Britain. The two problems which have caused the greatest trouble since the war ended have been transportation and coal. The government seized both industries when the war broke out. It got them into such a hopeless mess that it does not know how to turn [In] coal; the government now realizes, it took hold of the tail of a wild animal and is afraid to let go.

Life is just an endless chain of judgements. . . . The more imperfect our judgement, the less perfect our success.

A price has to be paid for success. Almost invariably those who have reached the summits worked harder and longer, studied and planned more assiduously, practiced more self- denial, overcame more difficulties than those of us who have not risen so far.

The man who has won millions at the cost of his conscience is a failure.