<a href="" title=""><abbr title=""><acronym title=""><b><blockquote cite=""><cite><code><del datetime=""><em><i><q cite=""><strike><strong>
[B]usiness, the target of fanatical hatred on the part of all contemporary governments and self-styled intellectuals, acquires and preserves bigness only because it works for the masses. The plants that cater to the luxuries of the few never attain big size.
On October 2, 1789, George Washington sent the proposed Constitutional amendments (the United States Bill of Rights) to the States for ratification.
On the same date in 1919, U.S. President Woodrow Wilson suffered a massive stroke, leaving him partially paralyzed, preventing him from reacting to the economic downturn following the Great War in a Progressive fashion, making his response de facto laissez faire. One insider, and skeptic of Progressive hubris, cattily referred to Wilson’s incapacitation as “a stroke of luck.”
His successor in office, President Warren G. Harding, would go on to massively cut spending as well as taxes, and take on regulation as well. He also released Woodrow Wilson’s domestic war prisoners — ranging from journalists, ordinary folk to Eugene V. Debs — who had dissented from Wilson’s involvement in the war.
The Depression of the early 1920s, though as deep as the early 1930s’, proved remarkably brief, thanks to Harding . . . and Wilson’s “stroke of luck.”