Emulation is a handsome passion; it is enterprising, but just withal. It keeps a man within the terms of honor, and makes the contest for glory just and generous. He strives to excel, but it is by raising himself, not by depressing others.
A constitution founded on these principles introduces knowledge among the people, and inspires them with a conscious dignity becoming freemen; a general emulation takes place, which causes good humor, sociability, good manners, and good morals to be general. That elevation of sentiment inspired by such a government, makes the common people brave and enterprising. That ambition which is inspired by it makes them sober, industrious, and frugal.
The determining trait of the enterprising (or active, or aggressive) investor is his willingness to devote time and care to the selection of securities that are both sound and more attractive than the average.
Possess the spirit of independence. The Americans do, and why should not you? Possess the spirit of men, bold and enterprising, fearless and undaunted. Sue for your rights and privileges. Know the reason that you cannot attain them. Weary them with your importunities. You can but die, if you make the attempt; we shall certainly die if you do not. The Americans have practised nothing but head-work these 200 years, and we have done their drudgery. And is it not high time for us to imitate their examples, and practise head-work too, and keep what we have got, and get what we can?
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