Coolidge expressed his belief this way: "If the federal government should go out of existence, most people would not note the difference." And once he said: "Four-fifths of our troubles in this life would disappear if we would only sit down and keep still."
SHIRLEY GRIFFITH: Coolidge believed that private business -- not the federal government -- should lead the country to greater wealth and happiness. He continued President Harding's policy of supporting American business both inside the United States and in other countries. The government under President Coolidge continued high taxes on imports in an effort to help American companies.
STEVE EMBER: Many Americans shared Coolidge's ideas about small government and big business. In the early nineteen twenties, many of them were living better than ever before.
At that time, companies were growing larger. The prices of their stocks rose higher and higher. There were lots of jobs. And the wages of many workers increased. Americans agreed with their president that there was little need for government spending and government programs, when private industry seemed so strong.
SHIRLEY GRIFFITH: The American economy grew in the nineteen twenties for several reasons. The world war had destroyed many factories and businesses in Europe. The United States did not suffer the same destruction. It was still a young country. It had great natural resources, trained workers, and a huge market within its own borders. When peace came, Americans found their economy stronger than any other in the world.
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2013-11-25
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