We could use a man like Calvin Coolidge again

Archie Bunker liked the wrong President. Of course he did. Archie was written that way.

America missed a bet when Coolidge decided not to run in 1928. He would have been reelected in a landslide. If he had been in office, and the 1929 crash came anyway, he would have been able to follow Harding's example in dealing with it. The 1920 depression was a short sharp shock, followed by the Roaring 20's.

Coolidge presided over an era of unprecedented prosperity. He (and Harding) cut taxes and spending radically. The budget in 1929 was half what it was in 1920 [p. 21 of this GPO pdf.] At the end of Wilson's Presidency, the top income tax rate was 77%. Coolidge was able to push it down to 25%. (Robert Novak says he was not such a budget-cutter, but does so by comparing Wilson's pre-war budget to Coolidge's last budget. In the same essay, Novak points out that Coolidge made use of the Laffer Curve before Arthur Laffer was born.)

He wrote his own speeches. Contrary to the "Silent Cal" cliché, he "made use of the new medium of radio and made radio history several times while President. He made himself available to reporters, giving 52o press conferences, meeting with reporters more regularly than any President before or since." [Wikipedia, from David Greenberg's Calvin Coolidge.]

Here's a speech from 1924 in a talkie made with Lee De Forest's pioneering sound process:



I like this speech well enough that I have transcribed it. A highlight:

I want the people of America to be able to work less for the government and more for themselves. I want them to have the rewards of their own industry. This is the chief meaning of freedom. Until we can re-establish a condition under which the earnings of the people can be kept by the people, we are bound to suffer a very severe and distinct curtailment of our liberty.

The full text is below.

Here is the text of his address at the celebration of the 150th anniversary of the Declaration of Independence.

A few more links: David Bozeman calls Coolidge "The Great Un-Obama."

Alan Snyder's article explains why he did not run in 1928. It reminds me of the way George Washington term-limited himself in 1800.

Amity Shlaes calls Coolidge "The Great Refrainer."

Shlaes and Joe Thorndike have been writing a blog devoted to Coolidge, Silent Cal. Thorndike's personal blog is thorndike dot com.

Some notes on De Forest's sound film process, Phonofilm, here, here, and here.

Full text of the speech in the movie above:

[The] country needs every ounce of its energy to restore itself. The costs of government are all assessed upon the people. This means that the farmer is doomed to provide a certain amount of money out of the sale of his produce, no matter how low the price, to pay his taxes. The manufacturer, the professional man, the clerk, must do the same from their income. The wage earner, often at a higher rate when compared with his earning, makes his contribution perhaps not directly but indirectly in the advanced cost of everything he buys. The expenses of the government reach everybody. Taxes take from everyone a part of his earnings, and force everyone to work for a certain part of his time for the government.

When we come to realize that the yearly expenses of the governments of this country reach the stupendous sum of about seven billion, five hundred million dollars, we get [garbled] hundred million dollars is needed by the national government, and the remainder by local governments. Such a sum is difficult to comprehend. It represents all the pay of five million wage earners receiving five dollars a day, working three hundred days in the year. If the government should add one hundred million dollars of expense, it would represent four days' more work of these wage earners.

These are some of the reasons why I want to cut down public expense. I want the people of America to be able to work less for the government and more for themselves. I want them to have the rewards of their own industry. This is the chief meaning of freedom. Until we can re-establish a condition under which the earnings of the people can be kept by the people, we are bound to suffer a very severe and distinct curtailment of our liberty.

These results are not fanciful. They are not imaginary. They are grimly actual and real, reaching into every household in the land. They take from each home annually an average of over three hundred dollars, and taxes must be paid. They are not a voluntary contribution, to be met out of surplus earnings. They are a stern necessity. They come first. It is only out of what is left, after they are paid, that the necessities of food, clothing, and shelter can be provided, and the comforts of home secured, or the yearnings of the soul for a broader and more abundant life gratified.

When the government effects a new economy, it grants everybody a life pension, with which to raise the standard of existence. It increases the value of everybody's property, raises the scale of everybody's wages. One of the greatest favors that can be bestowed upon the American people is economy in government.

—President Calvin Coolidge, August 11, 1924