money was the most conspicuous and most common trait of American character. "There is, perhaps, no civilized country in the world," wrote Félix de Beaujour, soon after 1800, "where there is less generosity in the souls, and in the heads fewer of those illusions which make the charm or the consolation of life. Man here weighs everything, calculates everything, and sacrifices everything to his interest." An Englishman named Fearon, in 1818, expressed the same idea with more distinctness: "In going to America, I would say generally, the emigrant must expect to find, not an economical or cleanly people; not a social or generous people; not a people of enlarged ideas; not a people of liberal opinions, or toward whom you can express your thoughts free as air; not a people friendly to the advocates of liberty in Europe; not a people who understand liberty from investigation and principle; not a people who comprehend the meaning of the words 'honor' and 'generosity.'" Such quotations might be multiplied almost without limit. Rapacity was the accepted explanation of American peculiarities; yet every traveller was troubled by inconsistencies that required explanations of a different kind. "It is not in order to hoard that the Americans are rapacious," observed Liancourt as early as 1796. The extravagance, or what economical Europeans thought extravagance, with which American women were allowed and encouraged to spend money, was as notorious in 1790 as a century later; the recklessness with which Americans often risked their
