The American grips himself, at the very sources of his consciousness, in a grip of care: and then, to so much of the rest of life, is indifferent. Whereas, the European hasn't got so much care in him, so he cares much more for life and living.
In journalism, if there's a hole in your story you figure out a way around it because you've got a 4 p.m. deadline. It's a neat skill to have but it's deadly for literature. In literature, you need to stare at that hole, not ignore it. You need to figure it out.
The best work in literature is always done by those who do not depend on it for their daily bread and the highest form of literature, Poetry, brings no wealth to the singer.
With no other privilege than that of sympathy and sincere good wishes, I would address an affectionate exhortation to the youthful literati, grounded on my own experience. It will be but short; for the beginning, middle, and end converge to one charge: NEVER PURSUE LITERATURE AS A TRADE.