“Unless Socialism is checked,” Professor Albert Bushnell Hart warned, “within sixteen years there will be a Socialist President of the United States.” Hart was off by four years. Hoover won in 1928. FDR won in 1932.

At New York City’s May Day rally, the American flag was torn down and replaced with the red flag, to cries of, “Take down that dirty rag” and “We don’t recognize that flag.” The site of the rally was Union Square, presently one of the locations where the rag ends of Occupy Wall Street hangs out.

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There was tension on the Mexican border and alarm over Socialist successes in German elections. An obscure fellow with the silly name of Lenin had carved out a group with the even sillier name of the Bolsheviks. China became a Republic. New Mexico became a state, the African National Congress was founded and the Titanic sank. In our time it was merely the Costa Concordia.

There was bloody fighting in Benghazi where 20,000 Italian troops faced off against 20,000 Arabs and 8,000 Turks. The Italians had modern warships and armored vehicles, while the Muslim forces were supplied by voluntary donations and fighters crossing from Egypt and across North Africa to join in attacking the infidels.

The Italian-Turkish war has since been forgotten, except by the Italians, the Libyans and the Turks, but it featured the first strategic use of airships, ushering in a century of European aerial warfare.

There was a good deal going on while the horns were blown and men in heavy coats and wet hats made their way through the festivities.

World War I was two years away, but the Balkan War had already fired the first shots. The rest was just a matter of bringing the non-phosphorus matches closer to the kindling. The Anti-Saloon League was gathering strength for a nationwide effort that would hijack the political system and divide it into dry and wet, and, among other things, ram through the personal income tax.

Change was coming, and as in 1912, the country was no longer hopeful, it was wary. The century, for all its expected glamor, had been a difficult one. The future, political and economic, was unknown. Few knew exactly what was to come, but equally few were especially optimistic even when the champagne was flowing.

If we were to stop a reveler staggering out of a hotel, stand in his path and tell him that war was five years away and a great depression would come in on its tail, that liquor would be banned, crime would proliferate and a Socialist president would rule the United States for three terms, while wielding near absolute power, he might have decided to make his way to the recently constructed Manhattan Bridge for a swan dive into the river.

And yet we know that though all this is true, there is a deeper truth. For all those setbacks, the United States survived, and many of us look nostalgically toward a time that was every bit as uncertain and nerve-wracking as our own.

December 31, 1912 was a door that opened onto many things. December 31, 2012 is likewise, and if a man in shiny clothes from the year 2112 were to stop us on the street and spill out everything he knew about the next century, it is likely that there would be as much greatness as tragedy in that tale.

As the year sweeps across the earth, let us remember that history is more than the worst of its events, that all times bear the burden of their uncertainties, but also carry within them the seeds of greatness. Looking back on this time, it may be that it is not the defeats that we will recall, but how they readied us for the fight ahead. 2012 may be as forgotten as 1912, but 2016 and 2022 may endure in history.

America has not fallen, no more than it did when the clock struck midnight on December 31, 1912. Though it may not seem likely now, there are many great things ahead, and though the challenges at times seem insurmountable and the defeats many, another year and another century await us.

Originally published at Sultan Knish.

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Daniel Greenfield is an Israeli born blogger and columnist, and a Shillman Fellow at the David Horowitz Freedom Center. His work covers American, European and Israeli politics as well as the War on Terror. His writing can be found at http://sultanknish.blogspot.com/ These opinions do not necessarily reflect the opinion of The Jewish Press.