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Croly, Herbert David, 1869-1930

"The Promise of American Life"

American energy had been
consecrated to economic development. The business man in seeking to
realize his ambitions and purposes was checked neither by government
control nor social custom. He had nothing to do and nothing to consider
except his own business advancement and success. He was eager,
strenuous, and impatient. He liked the excitement and the risk of large
operations. The capital at his command was generally too small for the
safe and conservative conduct of his business; and he was consequently
obliged to be adventurous, or else to be left behind in the race. He
might well be earning enormous profits one year and skirting bankruptcy
the next. Under such a stress conservatism and caution were suicidal. It
was the instinct of self-preservation, as well as the spirit of business
adventure, which kept him constantly seeking for larger markets,
improved methods, or for some peculiar means of getting ahead of his
competitors. He had no fortress behind which he could hide and enjoy his
conquests.


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