What impressed Churchill during his trip was a quality of resilience, an “unshakeable faith in a golden future,” that he did not see at home. Unlike the English, Americans were not deathly afraid of making mistakes with their money because they believed that even if they were wiped out, opportunities to make it all back, and more, would continue to present themselves. “Before disparaging American methods,” he wrote, “the English critic would do well to acquaint himself with the inherent probity and strength of the American speculative machine. It is not built to prevent crises, but to survive them.”
