Not only was it
dependent on economic conditions which prevailed until comparatively
recent times, but it has been associated with certain erroneous but
highly cherished political theories. It has been wrought into the fabric
of our popular economic and political ideas to such an extent that its
overthrow necessitates a partial revision of some of the most important
articles in the traditional American creed.
The extent and the character of this revision may be inferred from a
brief consideration of the effect upon the substance of our national
Promise of an alteration in its proposed method of fulfillment. The
substance of our national Promise has consisted, as we have seen, of an
improving popular economic condition, guaranteed by democratic political
institutions, and resulting in moral and social amelioration. These
manifold benefits were to be obtained merely by liberating the
enlightened self-interest of the American people. The beneficent result
followed inevitably from the action of wholly selfish motives--provided,
of course, the democratic political system of equal rights was
maintained in its integrity.
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