Coolidge [Hardcover]

Amity Shlaes chronicles a riveting portrait of a great American president, Calvin Coolidge, who served in office in the 1920s. He was known to many as "Silent Cal" and to some as "Scrooge." His personality portrayed a quiet, passive man, old fashioned, but the most modern of all presidents. His discipline represented strength, and he was admired for his courage. From the governor of Massachusetts to the President of the U.S., he never feared issues in a crucial period of turmoil as he showed the nation how to persevere. His motto of doing less could produce more, along with his frugal beliefs of curtailing spending and rejecting funding showed outstanding results, while reducing the federal budget. The economy was growing as tax rates fell, wages increased, and unemployment was down. As the thirtieth president, his humble service was meant to create a decade of prosperity, which indeed grew from his leadership. In comparison to today's political and economical issues, he was also under great pressure, forced into the Boston police strike, and acted as a man of principal as he resolved the issue. His humble persistence and his faith in the people restored economic history. Under his leadership, Americans wired their homes for electricity, moved from the road to the air, and religious faith found its modern context as the first White House Christmas tree was lit. Amity Shlaes reminds the reader that Coolidge inspired other presidents, and always acted decisively. He understood the value of predictability in government and the importance of civility, and that government too large could infringe upon freedom. In addition, the author highlights the fact that without knowing Coolidge, Americans cannot know the 1920s, and full knowledge of this president enriches the study of all presidents. Most important, Coolidge was compelled to persevere, leading him to success, always inspired by the people. This illuminating biography captures an incredible story of how one determined leader changed an entire political culture. Interesting, powerfully moving, and impressive. Highly recommended!

In the United States today, the presidency of Calvin Coolidge has all but faded from living memory. Millions of Americans likely have never even heard of him, and in the eyes of millions more who have heard of him he has a poor reputation due to the revisionism that passes for history that is currently taught in high schools and colleges. Author Amity Shlaes set the record straight concerning the Great Depression in The Forgotten Man, and she restores the reputation of our thirtieth president in this splendid, well-researched new biography, "Coolidge."

The future president was born in 1872 into a solid family in Vermont, and Shlaes discusses the traits such as thrift and perseverance that young Calvin internalized while growing up in New England in the late nineteenth century. Coolidge's tenacity paid off during his time at Amherst College in Massachusetts, as he bounced back from adversity to succeed and go on to become a lawyer.

Coolidge eventually entered politics and began climbing the GOP ladder in the Bay State--it is far from certain that someone as introverted as Coolidge could ever succeed in politics today to the degree that Coolidge did, but in his day he was a great vote-getter, and at election time he usually outpolled other Republicans who were on the same ticket with him.

Shlaes notes that Coolidge became more conservative during his early years in public service and that he came to realize that in many situations inaction represents strength, not weakness. As governor, Coolidge displayed his strength and resolve in breaking the Boston police strike of 1919, a feat that brought him national renown and led to his appearance as vice-presidential nominee on Warren Harding's ticket in 1920.

The country was not faring well in the years after World War I--much liberty was lost in America as a consequence of the war, social unrest and inflation were rampant, and a severe economic downturn plagued the country in 1920 and 1921. Once in office, Harding and Coolidge enacted pro-growth policies--they knew that rapid economic growth can cure a host of social ills, and their actions helped the economy mend rapidly and allowed the Roaring Twenties to get underway.

Coolidge became president in August 1923 after Harding's death and was committed to cut taxes and the budget further. Shlaes describes the tough fight that Coolidge and Treasury Secretary Andrew Mellon had to wage to get the tax and budget cuts passed--then as now, there were those in Congress who wanted to use the revenue increases that resulted from the tax cuts for more government programs instead of returning the money its rightful owner, the forgotten American taxpayer.

President Coolidge thought that no president should have more than two full terms and did not run for reelection in 1928. He saw the economic downturn coming and was concerned how Herbert Hoover, his likely successor, would handle it. Coolidge and Hoover are often spoken of as philosophical twins, but that was absolutely not the case, and Shlaes even includes a couple of non-political anecdotes that describe the differences between the two.

The crash did come in 1929, and the interventionists Hoover and FDR spent years and years and years enacting policies that did nothing but lengthen the Depression. Shlaes explains why Coolidge was not responsible for the Great Depression and cites statistics that show that Coolidge's free-market approach solved the equally precipitous 1920-21 crash quickly and led to sustained economic growth: by the end of the Coolidge presidency, the number of those out of work declined by two-thirds, industrial production was through the roof, and the revenue thrown off by the tax rate cuts paid off a third of the national debt.

There is a stark difference between presidential administrations that see economic crises as problems to be solved and administrations that cynically see them as opportunities to grow government, that "you never let a serious crisis go to waste." Shlaes's timely biography recalls a great president whose example reminds us that the application of thrift, sound tax policy, and steely inaction can vanquish economic downturns quickly and provide economic growth, opportunity, and a rising standard of living for all Americans.

Amity Shlaes delivers a magisterial book on America's least-appreciated great President and why he is relevant for our times. Coolidge reduced tax rates, brought spending down, battled public sector unions, and governed effectively for the people instead of special interests. His policies brought America from deficit to surplus after World War II and helped usher in the era of radio, the automobile, electrification, and aviation. The account of Andrew Mellon's time as Treasury Secretary alone is well worth reading. This well-written book is full of interesting vignettes and anecdotes that bring Coolidge and his era to life.