Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1920-07-01
AMERICAN IDEALS
Commencement Day Address by Calvin
Coolidge, Governor of the Commonwealth
of Massachusetts
of Massachusetts

is to rule.
Historically considered this conflict has
never ceased The right of a. smaller free
oom Vas the theme of notification. II
was theaprinciple of secession. 1t is the
Ioundauon or all appeals to resist au-
'fhor1ty. to-overthrow government and do
stroy property. II b not service, it is not
duty. 1t is not progress. II is the essence
'of selfishness. the substance of reaction
Against all these forces America has set
her face for three centuries, the conflicts
Oh the past six years have Strengthened
the determination of all her people now
as in the past to resist aIfaggression and
support and defend her political institu-
tons with whatever power may be nee
essfda-1 for their prcservafion-ard the main
tenance of the. larger liberties they be-
STOW upon sailfher citizens.
CHANGDaaIN 4-fGCoNoMIC siTuAT,,,N
This unalterat1c determination Of the
individual 70 preserve his heritage of
lar1sr liberty Wills tending to stabilize
ctsfc ccnditionsshas'etended t. change eco
iornic conditional. here has beer crca-
thon.c1 new wealth and a vast reds; ribu-
ton of wealth IA yet not fully realized
ana tho effSet of which has not vet been
fully ~asseascd. THIS readjusUmsnt has me-
been accomplished without strain. incon-
"anisksca- and some suffering the cnd of
which r. not vet. A gres,, amount Of mon
ey came int, the country fr-m war sup
pies furnfAsettIsurupe. The supplies of all
kinds ofsaNdnukaals we're exhausted by the
war. Our own population was Withdrawn
from ordinary production and tho great
furesocpi from abr cad CEASED. The in
ov1fahs. result of moro noncy art less
rRoductf0o is IN increase Of or,cas. This
has bea.a aSgrspat>d by TIE grea, ,ruutru
'ncnts .-.;.1axafiou. Ultimately yzrv-rueh
of taxation, hnsxsvur Ie,ed ea.,s On TIE
psn1uupxo. II ought to he perf.ctiv p,atn
that - government requires o. no punr,c
. saSr.. p share Of tho ,raSrnrdH os IN, unh-
II1o-esfHsx- there -cznrot In lcft f.,r n, rrb-
Ito so 7arxe . share m ucfore .he var.
~ is ahsufu6Hly Snpo1yinle 20. IN ,r,l I'm
u sNsde ar. dim the burden OF meeting
tho coat-of Ere wHr and paylnr fhe nur..
PO"Abt. Tlris 50 our part OF tho rs5r. az
Woo ~. UnrS*n1s1 Is mot. a higher rnnsr
Of cumsS WIN, be the, prfce Of r;oru.r3tv
Therv has BEEN . and sim - i, so,,e
cases a xssuun Of art,f1cts5fv N,,vh pri.,n
ws,jchfbes not been CAUSED nv INT has ~
suited in proftcering Thcre - bt ORC
sure remedy for this and f%,,+ 10 an in,
CT ease of production This is ALWAYS tho
result of long process and-its applic,-
ton requires patience and forbearanco.
1t can only be secured by the investrpent
of new capital in enlarying our industries
or improving their methods. now most
difficult operation. by wiser manage
ment, or by a more proficient application
of employees. Having in mind. soje,y tho
public welfare there rs need Of a la
realization OF the benefit --onferne<fsbv no
rnV TN an1 ;rv
to the owner of canitaI hut 9TH ,nso, 90
its products. The normal return to the
owner Of invested capital is small. srne-
where-between FIVE and ten per cent s,t
under the principle. of the.,1iyision Of la
Dor the return to the user of its products
whether it be cloth or steel. or shoes or
transportation, comparing the , coss, of
service receivedswith the cos, .ofenerfnr,n-
ing thersameAservices for hinnself~is of,en
a thousand per cent The accumulation
and investment of capital is the means of
advance and comfort in modern civi,;za-
ton and whatever arrests discorrap e. or
prevents it turns towards distress and
bar barism. Whoever the owners nv tho
nature of things no power can prevent
the capital invested in-busness enterprises
from inuring to the. public benefit lin
less 1t serves it fails Capital and brains
Investment and enterprise are not the en-
emies and masters of the wage GARNER
but his friends and servants.
But there is a deeper reason than tho
high prices which have prevailed in the
immediate past for increased production
Surplus is the source of economic nr,c.
ress. Public service is tbe.end of .conornio
achievement A limited outpnt at a h;rh
price means service to fauor.d fo,
Large production at a low nr,ca r..ns
service to all Whether enpa,ed IN ~. ol,,,
nived at by EMPLOYER or emn,oya ~. ~
is an attempt to levy trihu,o ,hoo,h
respond TO duty The .one.uil, la % a..
aster the other to success This un;v.rso
is mot so constituted, thai Mt, nr,f,.-, ~,
for man to be-anythinx .huf- ,r,s, hes, III.
encouragement of accumniation i,,nos,
ment and the increase Of ~nrod,,...o,,,.-
to BRING withinstbexn,eans ~ on
Ine the. best that the land affords as the
prut1rtion of property rs for the purpose
not.of protecting thespowerful. i'm it's on :
1ouneTt'bu of protecting the, -vp@,,k-jn ire
requirement. These are.the-so4e. met hods
OF a SDernanent ,tfffu<ion. AM, <Iis.trih,,tio,
off, wealth4to be purs,,e<, for. th,.n,,r,-,s.a
of Rtm4tng individual |. seffis -,,,-, ~,
noting <disinterested nuhIic s.rv,,.,
1ferekis tanother- srrr3,even r,o,.o .u,
peIHnezfactor that ~hasIw,oue,n, +, 49,.
ts' our economic reIaasgrs,,in W. -
been pneachfngsand er,rr.pins,-in -.
crusade. IT'S purpuses hassheer.t,,' o..
despotfsm. and preserv,,s frrr-,,r, ,r,.,.',
has, Se<zr ANEW <birth -uf ssf1e,dm. There
s-,,rsiri e~ |e Hpressssson to rh's'rights
An ron