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.
The greatness of literature cannot be determined solely by literary standards though we must remember that whether it is literature or not can be determined only by literary standards.
Literature deserves its prestige for one reason above all others - because it's a tool to help us live and die with a little bit more wisdom, goodness, and sanity.