There are two dominant races in modern history--the Germanic and the
Romanic races. The Germanic races tend to personal liberty, to a sturdy
individualism, to civil and to political liberty. The Romanic race tends
to absolutism in government; it is clannish; it loves chieftains; it
develops a people that crave strong and showy governments to support and
plan for them. The Anglo-Saxon race belongs to the great German family,
and is a fair exponent of its peculiarities. The Anglo-Saxon carries
self-government and self-development with him wherever he goes. He has
popular GOVERNMENT and popular INDUSTRY; for the effects of a generous
civil liberty are not seen a whit more plain in the good order, in the
intelligence, and in the virtue of a self-governing people, than in
their amazing enterprise and the scope and power of their creative
industry. The power to create riches is just as much a part of the
Anglo-Saxon virtues as the power to create good order and social safety.
The things required for prosperous labor, prosperous manufactures, and
prosperous commerce are three. First, liberty; second, liberty; third,
liberty. [Hear, hear!] Though these are not merely the same liberty, as
I shall show you. First, there must be liberty to follow those laws of
business which experience has developed, without imposts or restrictions
or governmental intrusions. Business simply wants to be let alone.
[Hear, hear!] Then, secondly, there must be liberty to distribute and
exchange products of industry in any market without burdensome tariffs,
without imposts, and with-out vexatious regulations. There must be these
two liberties--liberty to create wealth, as the makers of it think best,
according to the light and experience which business has given them; and
then liberty to distribute what they have created without unnecessary
vexatious burdens.

The comprehensive law of the ideal industrial condition of the word