And they always look like Edward Arnold.
Siegel and Shuster, like most kids of the generation, were obsessive movie fans -- and being working-class kids from Cleveland, that portrait was the only image of wealth they knew. Of course, when they moved to New York and had to deal face to face with Harry Donenfeld and Jack Liebowitz, they started showing more in the way of slick, racketeer-oriented moguls...
I came across a fascinating piece on a comics-history blog which, among other things, explains exactly why Superman lost his attitude around 1941. Donenfeld, perhaps concerned about anti-comics crusaders delving too deeply into his own shady background, hired a consultant from the Child Study Association of America to help put together a Code of Ethics to which all his publications would be required to adhere. This code, which took effect in April 1941, among other things mandated that respect for established authority must be taught and upheld at all times -- which put a definitive end to Superman's flamboyant one-man-social-conscience crusades.
And the scene where the millionaire proposes taking the party down into the mine has very strong echoes of William Powell's speech to the scavenger-hunt party guests in "My Man Godfrey."
...(This modern reprint recolors The Whip's face to plain caucasian. In the original comics, he was a deep reddish-brown.)
When Miss Saigon came to the stage in NYC in the late '80s, there was a big brouhaha over an Englishman playing a mixed French-Vietnamese character as it was argued it was "cultural insensitive" and an affront to Asians. The issue was noisy, but here's the thing, it was acknowledged that the "average theater goer" didn't care one way or another - and the show was a huge success in London with the English actor in the role - but in America a loud group of (and I tried to reference this in my prior post as I'm never sure of who they are) elites - NYC cultural leaders, Op/Ed writers and other (and this is just a fact) liberal leaders - just drove the protest.