“Almost every American would sooner get 8 per cent from a risks investment than 4 per cent from a safe one. The consequence is that there are frequent losses of money and continual worry and fret. For my part, the thing that I would wish to obtain from money would be leisure with security. But what the typical modern man desires to get with it is more money, with a view to ostentation, splendour, and the outshining of those who have hitherto been his equals.
The social scale in America is indefinite and continually fluctuating. Consequently all the snobbish emotions become more restless than they are where the social order is fixed, and although money in itself may not suffice to make people grand, it is difficult to be grand without money.”