As regards political economy, I was of course while in college taught
the _laissez-faire_ doctrines--one of them being free trade--then
accepted as canonical. Most American boys of my age were taught both by
their surroundings and by their studies certain principles which were
very valuable from the standpoint of National interest, and certain
others which were very much the reverse. The political economists were
not especially to blame for this; it was the general attitude of the
writers who wrote for us of that generation. Take my beloved _Our Young
Folks_, the magazine of which I have already spoken, and which taught
me much more than any of my text-books. Everything in this magazine
instilled the individual virtues, and the necessity of character as the
chief factor in any man's success--a teaching in which I now believe as
sincerely as ever, for all the laws that the wit of man can devise will
never make a man a worthy citizen unless he has within himself the
right stuff, unless he has self-reliance, energy, courage, the power of
insisting on his own rights and the sympathy that makes him regardful of
the rights of others. All this individual morality I was taught by the
books I read at home and the books I studied at Harvard. But there was
almost no teaching of the need for collective action, and of the fact
that in addition to, not as a substitute for, individual responsibility,
there is a collective responsibility. Books such as Herbert Croly's
"Promise of American Life" and Walter E. Weyl's "New Democracy" would
generally at that time have been treated either as unintelligible or
else as pure heresy.

The teaching which I received was genuinely democratic in one way. It
was not so democratic in another. I grew into manhood thoroughly imbued
with the feeling that a man must be respected for what he made of
himself. But I had also, consciously or unconsciously, been taught that