“ The wealth of our country is not public wealth, but private wealth. ”
Calvin Coolidge, State of the Union Address (8 December 1925). copy citation
| Author | Calvin Coolidge |
|---|---|
| Source | State of the Union Address |
| Topic | wealth public |
| Date | 8 December 1925 |
| Language | English |
| Reference | |
| Note | |
| Weblink | http://www.gutenberg.org/files/5036/5036-h/5036-h.htm |
Context
“While they recognize the undeniable authority of the state, they have established as its instrument a Government of limited powers. They hold inviolate in their own hands the jurisdiction over their own freedom and the ownership of their own property. Neither of these can be impaired except by due process of law. The wealth of our country is not public wealth, but private wealth. It does not belong to the Government, it belongs to the people. The Government has no justification in taking private Property except for a public purpose. It is always necessary to keep these principles in mind in the laying of taxes and in the making of appropriations.”
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