As America’s 30th President (1923-1929), Calvin Coolidge demonstrated his determination to preserve the old moral and economic precepts of frugality amid the material prosperity which many Americans were enjoying during the 1920s era. As President, Coolidge demonstrated his determination to preserve the old moral and economic precepts amid the material prosperity which many Americans were enjoying. He refused to use Federal economic power to check the growing boom or to ameliorate the depressed condition of agriculture and certain industries. His first message to Congress in December 1923 called for isolation in foreign policy, and for tax cuts, economy, and limited aid to farmers. In his Inaugural he asserted that the country had achieved “a state of contentment seldom before seen,” and pledged himself to maintain the status quo. In subsequent years he twice vetoed farm relief bills, and killed a plan to produce cheap Federal electric power on the Tennessee River.