It is not necessary to stress the general desire of all the people of this country for the promotion of peace. It is the leading principle of all our… - Calvin Coolidge

Taxes. Everyone desires a reduction of taxes, and there is a great preponderance of sentiment in favor of taxation reform. When I approved the present tax law, I stated publicly that I did so in spite of certain provisions which I believed unwise and harmful. One of the most glaring of these was the making public of the amounts assessed against different income-tax payers. Although that damage has now been done, I believe its continuation to be detrimental To the public welfare and bound to decrease public revenues, so that it ought to be repealed.

In my opinion the Government can do more to remedy the economic ills of the people by a system of rigid economy in public expenditure than can be accomplished through any other action. The costs of our national and local governments combined now stand at a sum close to $100 for each inhabitant of the land. A little less than one-third of this is represented by national expenditure, and a little more than two-thirds by local expenditure. It is an ominous fact that only the National Government is reducing its debt. Others are increasing theirs at about $1,000,000,000 each year. The depression that overtook business, the disaster experienced in agriculture, the lack of employment and the terrific shrinkage in all values which our country experienced in a most acute form in 1920, resulted in no small measure from the prohibitive taxes which were then levied on all productive effort. The establishment of a system of drastic economy in public expenditure, which has enabled us to pay off about one-fifth of the national debt since 1919, and almost cut in two the national tax burden since 1921, has been one of the main causes in reestablishing a prosperity which has come to include within its benefits almost every one of our inhabitants. Economy reaches everywhere. It carries a blessing to everybody.

Yet in time of stress and public agitation we have too great a tendency to disregard this policy and indulge in race hatred, religious intolerance, and disregard of equal rights. Such sentiments are bound to react upon those who harbor them. Instead of being a benefit they are a positive injury. We do not have to examine history very far before we see whole countries that have been blighted, whole civilizations that have been shattered by a spirit of intolerance. They are destructive of order and progress at home and a danger to peace and good will abroad. No better example exists of toleration than that which is exhibited by those who wore the blue toward those who wore the gray. Our condition today is not merely that of one people under one flag, but of a thoroughly united people who have seen bitterness and enmity which once threatened to sever them pass away, and a spirit of kindness and good will reign over them all.