The 1924 political cartoon showing businessmen singing “What a friend we have in Coolidge!” portrayed the popularity of President Colidge's non-restrictive policies with American businesses. It is a play on the popular hymm, "What a friend we have in Jesus".
In his January 1925 speech to the American Society of Newspaper Editors, Coolidge declared "The chief business of America is business." He strongly believed that big business, if left alone, would deliver employment and success to all Americans.
Those businessmen were greatly favored by the president. Through the Revenue Acts of 1924 and 1926, Coolidge's secretary of the treasury cut taxes to the rich twice and anti-monopoly rules were not sternly imposed. He also supported high tariffs on imported goods to stop foreign manufacturers from competing with American businesses.
In an issue of Townhall Magazine, University of Colorado at Colorado Assistant Professor of Political Science Springs Joseph Postell makes the case for Calvin Coolidge as the greatest conservative President ever. Read the article here.