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Nathaniel Hawthorne

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How slowly I have made my way in life! How much is still to be done! How little worth — outwardly speaking — is all that I have achieved! The bubble reputation is as much a bubble in literature as in war, and I should not be one whit the happier if mine were world-wide and time-long than I was when nobody but yourself had faith in me.
The only sensible ends of literature are, first, the pleasurable toil of writing; second, the gratification of one's family and friends; and, lastly, the solid cash.
--
Letter to Horatio Bridge (15 March 1851)

 
Nathaniel Hawthorne

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Like a dropsical man calling out for water, water, our deluded citizens are clamoring for more banks, more banks. The American mind is now in that state of fever which the world has so often seen in the history of other nations. We are under the bank bubble, as England was under the South Sea bubble, France under the Mississippi bubble, and as every nation is liable to be, under whatever bubble, design, or delusion may puff up in moments when off their guard. We are now taught to believe that legerdemain tricks upon paper can produce as solid wealth as hard labor in the earth. It is vain for common sense to urge that nothing can produce nothing; that it is an idle dream to believe in a philosopher’s stone which is to turn everything into gold, and to redeem man from the original sentence of his Maker, “in the sweat of his brow shall he eat his bread.”

 
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The writer is an ordinary man, not a spokesman for the people, and that literature can only be the voice of one individual. Writing that becomes an ode to a country, the standard of a nation, the voice of a party... loses its nature—it is no longer literature. Writers do not set out to be published, but to know themselves. Although Kafka or Pessoa resorted to language, it was not in order to change the world. I, myself, believe in what I call cold literature: a literature of flight for one's life, a literature that is not utilitarian, but a spiritual self-preservation in order to avoid being stifled by society. I believe in a literature of the moment, for the living. You have to know how to use freedom. If you use it in exchange for something else, it vanishes.

 
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Be not a bubble, be solid like God and let all thy worth be within.

 
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To have access to literature, world literature, was to escape the prison of national vanity, of philistinism, of compulsory provincialism, of inane schooling, of imperfect destinies and bad luck. Literature was the passport to enter a larger life; that is, the zone of freedom.
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Greenspan's reaction with regard to the stock-market bubble has caused two more bubbles to grow: a real-estate bubble and a consumer-debt bubble... History will judge him one of the worst Central Bankers ever.

 
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