The twentieth-century conservative is concerned, first of all, for the regeneration of the spirit and character – with the perennial problem of the inner order of the soul, the restoration of the ethical understanding, and the religious sanction upon which any life worth living is founded. This is conservatism at its highest.
To complete the rout of traditionalists, in America an impression began to arise that the new industrial and acquisitive interests are the conservative interest, that conservatism is simply a political argument in defense of large accumulations of private property, that expansion, centralization, and accumulation are the tenets of conservatives. From this confusion, from the popular belief that Hamilton was the founder of American conservatism, the forces of tradition in the United States never have fully escaped.
The principle of real leadership ignored, the immortal objects of society forgotten, practical conservatism degenerated into mere laudation of private enterprise, economic policy almost wholly surrendered to special interests.
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