I want to see all Americans have a reasonable amount of leisure. Then I want to see them educated to use such leisure for their own enjoyment and bet… - Calvin Coolidge

Great ideas do not burst upon the world unannounced. They are reached by a gradual development over a length of time usually proportionate to their importance. This is especially true of the principles laid down in the Declaration of Independence. Three very definite propositions were set out in its preamble regarding the nature of mankind and therefore of government. These were the doctrine that all men are created equal, that they are endowed with certain inalienable rights, and that therefore the source of the just powers of government must be derived from the consent of the governed. If no one is to be accounted as born into a superior station, if there is to be no ruling class, and if all possess rights which can neither be bartered away nor taken from them by any earthly power, it follows as a matter of course that the practical authority of the Government has to rest on the consent of the governed. While these principles were not altogether new in political action, and were very far from new in political speculation, they had never been assembled before and declared in such a combination.

Conscious of a strength which removes us from either fear or truculence, satisfied with dominions and resources which free us from lust of territory or empire, we see that our highest interest will be promoted by the prosperity and progress of our neighbors. We recognize that what has been accomplished here has largely been due to the capacity of our people for efficient cooperation. We shall continue prosperous at home and helpful abroad, about as we shall maintain and continually adapt to changing conditions the system under which we have come thus far. I mean our Federal system, distributing powers and responsibilities between the States and the National Government. For that is the greatest American contribution to the organization of government over great populations and wide areas. It is the essence of practical administration for a nation placed as ours is. It has become so commonplace to us, and a pattern by so many other peoples, that we do not always realize how great an innovation it was when first formulated, or how great the practical problems which its operation involves. Because of my conviction that some of these problems are at this time in need of deeper consideration, I shall take this occasion to try to turn the public mind in that direction.

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.