Calvin Coolidge actually said...
The more I think of it, the more I come to the conclusion—I have been giving a little thought along that line until I began to discuss it here—that any real remedy to secure publicity or give the shareholder the right to know what is being done with his money, how the business of his concern is being con-ducted, would have to come almost entirely from state action rather than from national action.
08/26/1926