Date: September 8, 1930
Location: Northampton, MA
(Original document available here)
President William Green of the American Federation of Labor is in a sound position when he opposes saddling the wage earners with a dole system. His suggestion of part time employment for all rather than full time for a part is fair and is the usual practice of employers. But the employer is only an agent. He cannot employ unless he can sell his output. To do so would pile up inventories and only prolong the misery of depression. What Mr. Green seems to mean is that at times the employer should operate to give work with little or no profit. The reports of too many industries show they are now operating despite a loss.
The entire progress of our wage earners is toward full co-operation and partisanship. They have been raised to new dignity and must themselves assume new responsibilities. The employer cannot produce unless they buy. If they will live up to that end of the partnership, they will start a movement that will eliminate the 10 per cent reduction in business that causes our trouble. The buying power of everybody if used is amply sufficient to support everybody. When business is declining the people cannot expect to increase savings.
Citation: Calvin Coolidge Says: Dispatches Written by Former-President Coolidge and Syndicated to Newspapers in 1930-1931 (Calvin Coolidge Memorial Foundation)
The Coolidge Foundation gratefully acknowledges the volunteer efforts of Greg Harkenrider who prepared this document for digital publication.