Business depression reinforced a natural reaction which had set in with the sudden and somewhat unexpected close of the war. The unwonted excitement brought on a national headache, and a sedative in the form of normalcy was proffered by the Republican party and thankfully accepted by the country at large. Under these circumstances the philosophy of safety and sanity was formulated. It is familiar and reassuring and puts no disagreeable task of mental and emotional readjustment on those who accept it. Hence its inevitable popularity and obvious soundness. And these are its presuppositions: No nation is comparable to our own in its wealth and promise, in its freedom and opportunity for all. It has opened its gates to the peoples of the earth, who have flocked across the ocean to escape the poverty and oppression of Europe. From the scattered colonies of the pre-revolutionary period the United States has rapidly advanced to its world ascendancy. When the European powers had reached a hopeless stalemate after four years of war the United States girded on the sword as the champion of liberty and democracy and in an incredibly short time brought the conflict to a victorious close before she had dispatched half the troops she could easily have spared. She had not entered the conflict with any motives of aggrandizement or of territorial extension. She felt her self-sufficiency and could well afford proudly to refuse to join the League of Nations on the ground that she did not wish to be involved in European wrangles or sacrifice a tittle of her rights of self-determination. The prosperity of the United States is to be attributed largely to the excellence of the Federal Constitution and the soundness of her democratic institutions. Class privileges do not exist, or at least are not recognized. Everyone has equal opportunity to rise in the world unhampered by the shackles of European caste. There is perfect freedom in matters of religious belief. Liberty of speech and of the press is confirmed by both the Federal Constitution and the constitutions of the various states. If people are not satisfied with their form of government they may at any time alter it by a peaceful exercise of the suffrage. In no other country is morality more highly prized or stoutly defended. Woman is held in her proper esteem and the institution of the family everywhere recognized as fundamental. We are singularly free from the vices which disgrace the capitals of Europe, not excepting London. In no other country is the schoolhouse so assuredly acknowledged to be the corner stone of democracy and liberty. Our higher institutions of learning are unrivaled; our public libraries numerous and accessible. Our newspapers and magazines disseminate knowledge and rational pleasure throughout the land.