USA HISTORY

Detailed explanation-1: -The actual quote wasn’t necessarily a simple, catchy line. It wasn’t in a Big Business Speech or an answer to a business related question. It was spoken during an address President Calvin Coolidge gave to the American Society of Newspaper Editors in Washington, D.C. on January 17, 1925.

Detailed explanation-2: -In January 1925 President Calvin Coolidge-nicknamed “Silent Cal” for his taciturnity-declared, “The chief business of the American people is business.” Is that still true?

Detailed explanation-3: -An apocryphal story has it that a person seated next to him at a dinner said to him, “I made a bet today that I could get more than two words out of you.” He replied, “You lose.” However, on April 22, 1924, Coolidge himself said that the “You lose” quotation never occurred.

Detailed explanation-4: -He presided over a strong economy and sought to shrink the regulatory role of the federal government. Along with Secretary of the Treasury Andrew Mellon, Coolidge won the passage of three major tax cuts.