“ Wastefulness in public business and private enterprise has been displaced by constructive economy. ”
Calvin Coolidge, State of the Union Address (4 December 1928). copy citation
| Author | Calvin Coolidge |
|---|---|
| Source | State of the Union Address |
| Topic | economy business |
| Date | 4 December 1928 |
| Language | English |
| Reference | |
| Note | |
| Weblink | http://www.gutenberg.org/files/5036/5036-h/5036-h.htm |
Context
“Yet these remarkable powers would have been exerted almost in vain without the constant cooperation and careful administration of the Federal Government.
We have been coming into a period which may be fairly characterized as a conservation of our national resources. Wastefulness in public business and private enterprise has been displaced by constructive economy. This has been accomplished by bringing our domestic and foreign relations more and more under a reign of law. A rule of force has been giving way to a rule of reason. We have substituted for the vicious circle of increasing expenditures, increasing tax rates, and diminishing profits the charmed circle of diminishing expenditures, diminishing tax rates, and increasing profits.”
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