Calvin Coolidge photo

Excerpts of the President's News Conference

October 19, 1926

I had a very agreeable call from Charles M. Schwab yesterday. I could not help but think as he came in and went out how well he represented the result of America. Beginning, as he did, with no property and with meager opportunities he has developed a great manufacturing plant for the service of the people of America and is doing considerable business abroad. He told me that he started the Bethlehem Steel works with $12,000,000 capital and now it represents $800,000,000 capital. I have forgotten how many employees he said, they run into the scores of thousands.

Source: "The Talkative President: The Off-the-Record Press Conferences of Calvin Coolidge". eds. Howard H. Quint & Robert H. Ferrell. The University Massachusetts Press. 1964.

Calvin Coolidge, Excerpts of the President's News Conference Online by Gerhard Peters and John T. Woolley, The American Presidency Project

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