Posted on 02/05/2009 11:36:21 AM PST by frithguild
Collecting more taxes than is absolutely necessary is legalized robbery. Calvin Coolidge
Don’t expect to build up the weak by pulling down the strong. Calvin Coolidge
Duty is not collective; it is personal. Calvin Coolidge
Economy is the method by which we prepare today to afford the improvements of tomorrow. Calvin Coolidge
I have found it advisable not to give too much heed to what people say when I am trying to accomplish something of consequence. Invariably they proclaim it can’t be done. I deem that the very best time to make the effort. Calvin Coolidge
If you see ten troubles coming down the road, you can be sure that nine will run into the ditch before they reach you. Calvin Coolidge
Industry, thrift and self-control are not sought because they create wealth, but because they create character. Calvin Coolidge
It is only when men begin to worship that they begin to grow. Calvin Coolidge
Knowledge comes, but wisdom lingers. It may not be difficult to store up in the mind a vast quantity of face within a comparatively short time, but the ability to form judgments requires the severe discipline of hard work and the tempering heat of experience and maturity. Calvin Coolidge
Little progress can be made by merely attempting to repress what is evil. Our great hope lies in developing what is good. Calvin Coolidge
No enterprise can exist for itself alone. It ministers to some great need, it performs some great service, not for itself, but for others; or failing therein, it ceases to be profitable and ceases to exist. Calvin Coolidge
No man ever listened himself out of a job. Calvin Coolidge
Perhaps one of the most important accomplishments of my administration has been minding my own business. Calvin Coolidge
Prosperity is only an instrument to be used, not a deity to be worshipped. Calvin Coolidge
The business of America is business. Calvin Coolidge
The government of the United States is a device for maintaining in perpetuity the rights of the people, with the ultimate extinction of all privileged classes. Calvin Coolidge
The man who builds a factory builds a temple, that the man who works there worships there, and to each is due, not scorn and blame, but reverence and praise. Calvin Coolidge
The nation which forgets its defenders will be itself forgotten. Calvin Coolidge
The right thing to do never requires any subterfuge, it is always simple and direct. Calvin Coolidge
There is no dignity quite so impressive, and no independence quite so important, as living within your means. Calvin Coolidge
They criticize me for harping on the obvious; if all the folks in the United States would do the few simple things they know they ought to do, most of our big problems would take care of themselves. Calvin Coolidge
Those who trust to chance must abide by the results of chance. Calvin Coolidge
To live under the American Constitution is the greatest political privilege that was ever accorded to the human race. Calvin Coolidge
Ultimately property rights and personal rights are the same thing. Calvin Coolidge
It is probable that a press which maintains an intimate touch with the business currents of the nation is likely to be more reliable than it would be if it were a stranger to these influences. After all, the chief business of the American people is business. They are profoundly concerned with buying, selling, investing and prospering in the world. Calvin Coolidge
ping
This can’t be reproducted often enough right now. Thanks for posting it.
A very timely post-—and a good one too.
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Ping!
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Ol' Silent Cal was brilliant ... it's a shame today's GOP can't find someone like him.
Very good quotes... There’s some wisdom there.
Economic growth is stimulated by removing government hands from around the neck of the private sector. This only tightens the current grip.
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"In an effort to alleviate the effects of... anyone? The Great Depression... Congress passed the... anyone? The Hawley-Smoot Act. Did it work? Anyone? It did not work."
All of Sowell's books are so helpful because they allow everyone to understand an extremely complex matter because it is presented in such simplistic, easy-to-grasp manner.
Politics and economics are two totally different animals. The Porkulus Bill is almost all politics and entitlements and should be understood as such.
More to the timeline
The Dow Jones Industrial Average sank a full 8%, from 250 to 230, over just two trading days in June 1930, in direct response to the Senate’s passage of Smoot-Hawley and Hoover’s announcement that he would sign it.
Please comment if you will on the following:
From Professor Morici:
President Obama must get behind a policy to reverse the trade imbalance with China, or preside over the wholesale destruction of many more U.S. manufacturing jobs. These losses have little to do with free trade based on comparative advantage. Instead, they derive primarily from currency practices that make Chinese products artificially cheap in U.S. and other markets and Chinese restrictions on imports. These Chinese policies deprive Americans of jobs in industries where they are truly internationally competitive.
There is no universal agreement about the effect of the tariff. According to the U.S. Statistical Abstract, the effective tariff rate was 13.5% in 1929 and 19.8% in 1933 with 63% of all imports being duty-free. From 1821 through 1900 the United States averaged 29.7% effective tariff rates and peaked in 1830 at 57.3% with only 8% of all imports being duty-free, dwarfing the Smoot-Hawley rate. In addition, imports in 1929 were only 4.2% of the United States’ GNP and exports were only 5.0%. Smoot-Hawley’s effect on the entire U.S. economy may have been small, compared to the monetary policy of the Federal Reserve System. By 1937 the effective tariff rate was reduced to 15.6% when the reaction of 1937-1938 occurred, demonstrating no statistical correlation between this economic downturn and tariff levels. Senator Robert L. Owen testified at the hearings on HR 7230, the bill to make the Federal Reserve banks a national property, that; “In 1937, when the Federal Reserve Board called upon the banks to raise their reserves to twice what they had been before, there was a contraction of credit of two billion dollars.- org.whodat
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