According to a visiting Frenchman, by the late 1920s, Americans had accepted debt and rejected thrift.

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The visiting Frenchman, Alexis de Tocqueville, observed that by the late 1920s, Americans had indeed become more accepting of debt as a part of life and were moving away from the traditional value of thrift. This shift reflected broader changes in American society and economy, including the rise of consumer culture and credit systems.

According to a Visiting Frenchman, by the Late 1920s, Americans