
Exile’s Reign: On Gerald Howard’s The Insider: Malcolm Cowley and the Triumph of American Literature
“The Mysticism of Money”: that was the brassily alliterative title of a 1922 essay published by Harold Loeb in Broom, the magazine he co-founded and bankrolled. Contemporary American culture, Loeb observed, had positioned commerce as its new religion. Europeans made money as a means to old-school ends; Americans had started to make it for the sake of making it. This was strange and unsettling, but the upside was an emerging metropolitan culture of startling energy — as Loeb put it, “vigorous, crude, expressive, alive with metaphors, Rabelaisian.”
