Discovering the literature of our neighbors means, in essence, seeing what the people around you are like. Their literature represents their "Biographies," or who they are and what they do. It also represents their interests and their dreams, as well as their ambitions. It says that you may also learn about yourself, because learning about others reveals things about yourself. This is particularly important to someone from outside of the United States because intially you have no idea what the customs are. So, discovering the literature of other could help you intigrate into society. You learn how to be the best you in your environment.
I’m guessing that’s “stay gold ponyboy” , which is a play on the phrase “nothing gold can stay”. Johnny is trying to tell pony to stay true to himself and be good.