Life, 1926-04-15 · page 20 of 44
Life — April 15, 1926 — page 20: what you’re looking at
What you’re looking at
This page discusses **Senator Smoot** and **Colonel Coolidge** (father of President Calvin Coolidge) in the context of post-WWI foreign loans and financial policy. **The political context:** The article critiques Senator Smoot's statements about foreign loans to Europe, suggesting his position that banks' loans abroad won't diminish but rather increase America's role as "money center of the world." The writer argues this misunderstands economic consequences—echoing what happened with England's finances. **Colonel Coolidge** is praised as a simple, unflappable man who lived outside current affairs. The satire suggests he represents an older American virtue of detachment from the world's financial entanglements. **The cartoons** (small illustrations) appear to be decorative period humor, though specific figures are unclear in reproduction. The broader point: American financial interventionism abroad carries unintended consequences—a prescient concern given the 1920s loan bubble preceding the 1929 crash.
📄 Transcribed text from this page (OCR, searchable)
Machine-transcribed from the original scan — historical spelling and the odd misread are preserved.
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