(The following essay discusses Marshall Field III with his son, Marshall Field IV and his grandson, Marshall Field V.)

Marshall Field III, IV, and V, heirs to the fortune of the first Marshall Field, a retailing magnate, were important figures in the newspaper world of Chicago and, in the case of Marshall Field III, of New York. Marshall Field III, grandson of the founder of the department store that still bears the family name, was the first of the family to engage in journalism. He used tens of millions of dollars from his inheritance to publish newspapers that would advance his idealistic liberal philosophy, but he was reluctant to take a direct hand in their editorial direction. All three Marshall Fields were considered gentlemanly and rather reticent; all three felt keenly the responsibility of having inherited great wealth.

Marshall Field III, one of the world's richest men during...