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Trust the folk wisdom. No it does not, because the primary purpose of money, beyond a basic level of sustenance, is to stimulate the short term reward circuits of the brain, which is only loosely connected to the idea of 'long-term happiness'. In fact, overstimulation of the reward circuits can make long-term happiness even harder to achieve because then your brain is always begging for the next, bigger, literal or figurative hit. You don't need to be rich to buy cocaine either, but no matter how much you can afford you have to stop some time, and the crash is proportional to the high. Thats just a result of the brain's negative feedback whether the stimulation is chemical or natural.
There is a lot that goes into being happy, and the results of money are only part of it. Money alone does not give you personal or spiritual fulfillment. Just ask the endless train of burned out celebrities. Life is still life, no matter how much fame or fortune you have, and having a lot of either leads to whole new sets of problems. There is a reason that those seeking enlightenment in the classical religions often take some type of poverty vow and eschew worldly pleasures. Happiness is being content with your life for what it is, not for what you own.
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"Prohibition will work great injury to the cause of temperance. It is a species of intemperance within itself, for it goes beyond the bounds of reason in that it attempts to control a man's appetite by legislation, and makes a crime out of things that are not crimes. A Prohibition law strikes a blow at the very principles upon which our government was founded." --Abraham Lincoln
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