Herbert Croly's Insurrections.

In 1909 a young intellectual, the son of two newspaper writers, published an influential political polemic titled The Promise of American Life. Herbert Croly argued that while the laissez-faire philosophy of keeping government out of the marketplace held great appeal for a small-scale society, the advent of big business meant that a strong central government was needed to protect the weak. And to avoid being overtaken by special interests, government required strong leadership. Theodore Roosevelt became an early convert to Croly's "New Nationalism." Croly is also credited with inspiring Woodrow Wilson's "New Freedom." Though painfully shy, Croly, along with some likeminded colleagues, determined to start a magazine, a "journal of opinion" that would start "little insurrections" in the minds of its readers.

A Straight Fortune.

Willard and Dorothy Straight became Croly's financial backers. Dorothy was a Whitney by birth and received...