There was a time when American
confidence and self-satisfaction seemed impregnable; at the slightest
qualm of doubt America took to violent rhetoric as a drunkard resorts to
drink. Now the indictment I have drawn up harshly, bluntly and
unflatteringly in Sec. 4 would receive the endorsement of American after
American. The falling birth-rate of all the best elements in the State,
the cankering effect of political corruption, the crumbling of
independence and equality before the progressive aggregation of
wealth--he has to face them, he cannot deny them. There has arisen a new
literature, the literature of national self-examination, that seems
destined to modify the American tradition profoundly. To me it seems to
involve the hope and possibility of a conscious collective organisation
of social life.
If ever there was an epoch-marking book it was surely Henry Demarest
Lloyd's "Wealth against Commonwealth." It marks an epoch not so much by
what it says as by what it silently abandons. It was published in 1894,
and it stated in the very clearest terms the incompatibility of the
almost limitless freedom of property set up by the constitution, with
the practical freedom and general happiness of the mass of men. It must
be admitted that Lloyd never followed up the implications of this
repudiation.
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