Posts tagged with: savings

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 forthcoming book on Calvin Coolidge coming 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 clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.