Schiff believed strongly that his privileged status gave him a responsibility to care for the less fortunate. “The surplus wealth we have gained, to some extent at least, belongs to our fellow-beings; we are only the temporary custodians of our fortunes,” he once said. And he looked down on the millionaires who hoarded their wealth during their lifetimes and became philanthropists only in death. Nor did Schiff believe in passive giving, as his tight control over the organizations he supported made clear. “Charity and philanthropy, to become effective, should have personal supervision….The
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