Home
/
RELIGION & LIBERTY ONLINE
/
Amity Shlaes on Thrift and Calvin Coolidge
Amity Shlaes on Thrift and Calvin Coolidge
Apr 10, 2026 4:35 PM

Thrift almost seems like a lost virtue among much of our governing class. It is also true of the general population. We don’t have to just look at our staggering public debt, but consumer credit card debt tells the story too. In a past post on the virtue of thrift, Jordan Ballor reminds us that “thrift is one of the things that separates civilized capitalism from savage consumerism.”

When I worked for U.S. Congressman Gene Taylor in Mississippi, we had a lot of second-hand office equipment. The boss was always serious about saving tax dollars. I know there are still representatives out there that take thrift seriously. However, we should also let the illustration provided by Amity Shlaes on Calvin Coolidge over at National Review sink in, especially given some of the lavish entertainment we hear about in Washington:

For Coolidge, no savings was too small to overlook. Recently William Jenney, the archivist for the state of Vermont at the Coolidge homestead, pulled out for me an old looseleaf notebook. It contained the White House housekeeper’s journal of outlays for White House entertainment. The White House, even then, received tens of thousands of visitors a year; the Coolidges hosted Col. Charles Lindbergh and Ignacy Padereweski, the pianist and politician. There were many days when Coolidge shook 2,000 hands. But he also kept an eye on the budget. For 1926, the housekeeper itemized each purchase for each event; the total was $11,667.10. For 1927 she managed to get the amount down to $9,116.39. The president reviewed this and wrote her a note: “To Miss Riley, very fine improvement.”

Shlaes, who has a ing book on Calvin ing out soon, was interviewed in Religion & Liberty’s 2009 fall issue. She discusses her book The Forgotten Man and the Great Depression in the interview.

I have also touched on Coolidge on the PowerBlog. In a post titled “Keep Cool with Coolidge,” I linked to a great recording on Coolidge talking about the cost of government spending. Have a listen: [audio:

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
Acton Line: P.J. O’Rourke on capitalism; Peter Jackson’s ‘They Shall Not Grow Old’
On this episode of Acton Line, research associate at the Acton Institute, Jordan Ballor, talks with best-selling author and leading political satirist, P.J. O’Rourke, about his newest book, “None of My Business.” O’Rourke will be giving a talk at Acton’s ing event in Chicago on March 7 and registration is still open. Register at the link below to save your seat. In the second segment, Acton’s director munications, John Couretas, speaks with Ray Nothstine, editor at Civitas Institute, about the...
Democrats proposed subsidies do not make the rent any less high
Democratic Senators and Presidential candidates Kamala Harris and Cory Booker have both recently proposed legislation to address the issue of rising housing costs. Senator Harris’ bill ‘The Rent Relief Act’ and Senator Booker’s bill ‘Housing, Opportunity, Mobility, and Equity Act’ both focus on assisting people who pay more than 30% of their gross e on rent or, in the case of Senator Harris’s bill, rent and utilities. The details of exactly who would be eligible to receive tax credits are...
Alejandro Chafuen in Forbes: Bolsonaro and the new Brazil
Yesterday in Forbes, Alejandro Chafuen, Acton’s Managing Director, International, weighed in on Jair Bolsonaro’s new administration in Brazil. Bolsonaro’s coalition includes people of many different backgrounds and ideas, and collaboration among them will be key for the administration’s success. Brazil may soon e the fastest-growing of the major Western economies. This is not the first time that investors have looked to this South American giant with hopefulness. There is a temptation to think that Brazil is entering into a new...
A Republic, if you can keep it
On Friday, President Donald J. Trump invoked the powers mander-in-chief and declared a state of emergency. This legal step will allow him to allocate billions of dollars for the construction of a wall on the southern border, bypassing the obstruction of Democrats — and many Republicans — in Congress. Immediately, a discussion on the legality of the decision took over the public debate. Many self-identified conservatives soon pointed to the alleged breach of constitutional order related to this decision and...
Understanding the aggregate supply curve
Note: This is post #111 in a weekly video series on basic economics. The long-run aggregate supply curve can show us an economy’s potential growth rate when all is going well. bining the long-run aggregate supply curve with the aggregate demand curve can help us understand business fluctuations. For example, while the U.S. economy grows at about 3 percent per year on average, it does tend to fluctuate quite a bit. What causes these fluctuations? As Alex Tabarrok explains in...
A legal test for the Bladensburg Peace Cross
“The challenge … presents the possibility for hope and for worry with regard to the future of religion in American public life,” says Trey Dimsdale in this week’s Acton Commentary. In 1919 the political landscape of Europe had been drastically rearranged, the United States had emerged from relative isolation onto the world scene, and the western world was in shock at the unprecedented scale of the carnage that the Great War had left in its wake. Amid the victory celebrations...
Elizabeth Warren’s universal child care proposal: What you need to know
Senator Elizabeth Warren unveiled a plan for universal child care, to be funded by a national wealth tax, late Monday night. Here are the facts you need to know. What are the details of Warren’s universal child care proposal? The program’s funding formula resembles ObamaCare for preschool. Warren’s “Universal Child Care and Early Learning Act” would provide daycare services “from birth to school entry” by creating a federally regulated system of “Child Care and Early Learning Centers” and “Family Child...
Western Civilization: force for good or source of evil?
No one event prompted me to write about this topic—it is a general, and certainly growing, impression. But a glance at various happenings in recent years gives some indication of what I want ment on. In 2016, for instance, Yale students called on the university to “decolonize” a reading list of canonical poets—people such as Shakespeare, Milton, Wordsworth, and so on—saying the course “actively harms students” and creates a “hostile” culture. That same year, Stanford students overwhelmingly voted down a...
Why the minimum wage shouldn’t be a family wage
Nostalgia is a powerful drug, and one that seems to a have particular potent effect on politicians. Consider, for example, a recent tweet by Massachusetts’s senator and Democratic presidential candidate Elizabeth Warren. Last Saturday she said: Back when I was a kid, a minimum-wage job could support a family of three. Today, a full-time minimum-wage job in America won’t keep a mama and a baby out of poverty. Our movement is about making real, fundamental change to fix this. Many...
The price of being middle class
I was glad to be able to engage P. J. O’Rourke in a wide-ranging discussion for the Acton podcast this week. In this episode of Acton Line, P. J. and I talk about “mutant” capitalism, cryptocurrency (neither of us really understand it), the state of the middle class, the Trump phenomenon, and much more, based on his latest book,None of My Business: P.J. Explains Money, Banking, Debt, Equity, Assets, Liabilities, and Why He’s Not Rich and Neither Are You. One...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved