Treasury Secretary Brady didn't like the Fed either. He and the president were friends and had a lot in common-both were wealthy, Yale educated patri… - Alan Greenspan

It rejected the temptation to punish its opponents as the Europeans had done at Versailles, recognizing the wisdom of Herbert Hoover’s advice to Harry Truman in 1946 that “you can have vengeance, or peace, but you can’t have both.

America’s rise to greatness has been marred by numerous disgraces, prime among them the mistreatment of the aboriginal peoples and the enslavement of millions of African Americans. Yet judged against the broad sweep of history, it has been a huge positive. America has not only provided its own citizens with a prosperous life. It has exported prosperity in the form of innovations and ideas. Without America’s intervention in the Second World War, Adolf Hitler might well have subdued Europe. Without America’s unwavering commitment to the Cold War, Joseph Stalin’s progeny might still be in power in Eastern Europe and perhaps much of Asia. Uncle Sam provided the arsenal of democracy that saved the twentieth century from ruin.

In the nineteenth century, the population multiplied by a factor of almost fifteen, from 5.3 million to 76 million, a total larger than any European country except Russia. By 1890, 80 percent of New York’s citizens were immigrants or the children of immigrants, as were 87 percent of Chicago’s.