The business of America is business. - Calvin Coolidge

The Constitution is the sole source and guaranty of national freedom.

I mentioned the other day that any reports about what I was going to do when I finished being President were made entirely without consultation with me. I forgot to mention one report that is going around. I mention it now because I don’t want to be accused of acquiring property under false pretenses. I am having sent to me quite a number of jackknives. I don’t recall that I ever made any suggestion that after I finished my term of office I was going to engage in the occupation of whittling. I did some when I was a boy. I haven’t applied myself to that for a good many years. I hesitate to spoil anything like a good newspaper story, but, as I say, I don’t want to keep getting jackknives under false pretenses.

Our American newspapers serve a double purpose. They bring knowledge and information to their readers, and at the same time they play a most important part in connection with the business interests of the community, both through their news and advertising departments. Probably there is no rule of your profession to which you gentlemen are more devoted than that which prescribes that the editorial and the business policies of the paper are to be conducted by strictly separate departments. Editorial policy and news policy must not be influenced by business consideration ; business policies must not be affected by editorial programs. Such a dictum strikes the outsider as involving a good deal of difficulty in the practical adjustments of c very-day management. Yet, in fact, I doubt if those adjustments are any more difficult than have to be made in every other department of human effort. Life is a long succession of compromises and adjustments, and it may be doubted whether the press is compelled to make them more frequently than others do.