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Rh that the individual cannot always hope to see his efforts as richly compensated as was formerly the case, there is danger that this precious quality may be to some degree lost. It seems to me that the first care of the Americans should be to maintain it in all its integrity. The essential condition to the development of energy is liberty. Every restriction on liberty, with however good purpose, diminishes the individual responsibility and initiative. Yet we often hear mooted in America, as elsewhere, measures which, under the pretext of correcting abuses, would immeasurably extend the state’s field of action, and reduce the liberty of citizens. It is my earnest hope that the American democracy will reject such enervating proposals, and will remain true to the virile and liberal traditions that have insured the United States so wonderful a growth.”

In this short space a foreign observer and admirer has placed his finger on one danger that threatens the American people to-day, namely, the tendency to take away by law the freedom of action of the individual and to Rh