Tuesday, August 17, 2010

President Calvin Coolidge: Why his thinking matters today

Calvin Coolidge was one of President Reagan's favorite presidents. An article by Andrew T. Kostanecki talks about his beliefs and the "Roaring Twenties." If you never heard of the "Roaring Twenties" read below:

Under President Coolidge, the economy of the United States enjoyed its greatest period of growth combined with the lowest rate of inflation of the last 100 [my italics] years. The national debt was reduced by 36%. It was the only period in which that has happened since the Civil War. Federal expenditures were reduced by 35%, per capita income rose 37% and tax rates were reduced by 20%. He established charitable deductions, repealed gift taxes, slashed estate taxes and took one third of the population off the tax roles. Yet tax revenues rose and unemployment dropped from 5.5% to 3.2%. It was a time of unparalleled prosperity.
Hence the "Roaring Twenties." And the Left says this period of time just "happened." Like it's a freak occurrence or something. What did Silent Cal as he was called at the time believe? Again from the Mr. Kostanecki article:
• He espoused the dignity and value of hard work, thrift, modesty and self-reliance.
• He had a deep belief in God and in religious freedom.
• He believed that “the chief business of the American people was business” and that the people were basically concerned with producing, buying, selling, investing and prospering in the world.
• He argued that material wealth was only a means to an end for achieving, “the multiplication of schools, the increase of knowledge, the dissemination of intelligence, the encouragement of science, the broadening of outlook, the expansion of liberties and the widening of culture.”
• Above all, he supported tax policies that encouraged investment and he blocked government interference in the natural functioning of the marketplace.
• He supported legislation against price-fixing.
• He believed that the world would do better if he “did no harm” and by holding back and providing stability, the citizens would know what to expect and not to expect from the Government.
• He believed that if the private sector was allowed to take the lead, the possibilities for progress would be boundless.
• He argued for the importance of letting Germany pay off its War debts.
• He championed the renunciation of war as an instrument of national policy. (Kellog-Briand Pact)
• He saw the rights of Colored People as “sacred”, supported civil rights and opposed the then powerful Ku Klux Klan.
• He supported shorter workweeks for women and children, equal pay for equal work, a minimum wage, an increase in the number of children's playgrounds, a reduction in railway fares for workers and their children, improved workplace safety and funding for state hospitals for the mentally ill.
• He passed legislation to limit rent increases and appointed a commission to study the idea of maternity leaves.
• He supported women's suffrage and women's rights.
Can we clone this guy? Just joking. But it would be refreshing if more politicians were like him. I suggest everyone read the rest of the article. Finally, a last thought from President Coolidge:
“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.”














No comments: