Calvin Coolidge was the 29th President of the United States from 1923 to 1929. His administration eliminated wartime controls and slashed taxes, established a federal budget system, and imposed limitations on immigration, representing a return to normalcy after World War I. Coolidge believed that "the business of America is business," focusing on expanding business to help the economy. However, the stock market crashed months into his presidency, contributing to the Great Depression for which some blamed Hoover.