Our government belongs to the people. Our property belongs to the people. It is distributed. They own it. The taxes are paid by the people. They bear… - Calvin Coolidge

The next most pressing problem was the better ordering of the finances of the Nation. Our Government was costing almost more than it was worth. It had more people on the pay roll than were necessary, all of which made expenses too much and taxes too high. This inflated condition contributed to the depression which began in 1920. But the Government expenditures have been almost cut in two, taxes have been twice reduced, and the incoming Congress will provide further reductions. Deflation has run its course and an era of business activity and general prosperity, exceeding anything ever before experienced in this country and fairly well distributed among all our people, is already at hand.

The evidence of this is all about us, in our wealth, our educational facilities, our charities, our religious institutions, and in the moral influence which we exert on the world. Most of all, it is apparent in the unexampled place which is held by the people who toil. Our inhabitants are especially free to promote their own welfare. They are unburdened by militarism. They are not called upon to support any imperialistic designs. Every mother can rest in the assurance that her children will find here a land of devotion, prosperity and peace. The tall shaft near which we are gathered and yonder stately memorial remind us that our standards of manhood are revealed in the adoration which we pay to Washington and Lincoln. They are unrivaled and unsurpassed. Above all else, they are Americans. The institutions of our country stand justified both in reason and in experience. I am aware that they will continue to be assailed. But I know they will continue to stand. We may perish, but they will endure. They are founded on the Rock of Ages.

Some people feel concerned about the commercialism of the press. They note that great newspapers are great business enterprises earning large profits and controlled by men of wealth. So they fear that in such control the press may tend to support the private interests of those who own the papers, rather than the general interest of the whole people. It seems to me, however, that the real test is not whether the newspapers are controlled by men of wealth, but whether they are sincerely trying to serve the public interests. There will be little occasion for worry about who owns a newspaper, so long as its attitudes on public questions are such as to promote the general welfare. A press which is actuated by the purpose of genuine usefulness to the public interest can never be too strong financially, so long as its strength is used for the support of popular government.