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Document 35603

CALVIN COOLIDGE
U.S. Treasury shortchanges the new President by $13.44!
Partly Printed Paycheck Endorsed on verso: "Deposit/Calvin Coolidge" as 30th U.S. President, 8½x3¼. Washington, D.C., 1923 August 31. "Treasurer of the United States/Pay Five Thousand Eight Hundred Thirty Three 33/100 ### Dollars/$5,833.33/To The Order of Calvin Coolidge President of the United States/The White House/Washington DC." Coolidge's annual salary as President was $75,000. His monthly salary was $6,250. THIS CHECK REPRESENTS HIS SALARY FOR AUGUST 1923, HIS FIRST MONTH AS PRESIDENT. President Harding had died on August 2, 1923 and at 2:30 A.M. August 3rd, John Coolidge, a notary public, swore in his son as President of the United States. If one divides $6,250 by 30 days, one gets a daily salary of $208.33. Harding was President on August 1st and 2nd. Multiply that by 28 days to get $5,833.33, the amount of Coolidge's check. But Coolidge was President in August for 29 days (August has 31 not 30 days), so his daily salary for August 1923, was actually $201.61 and, multiplied by the 29 days he served (August 3-31, 1923), his first check as President should have been $5,846.77. COOLIDGE WAS SHORTCHANGED BY $13.44! Bank cancellation holes just nick "Calvin C". Tape remnant at top edge of verso, slight creasing, top left corner of verso nicked, lightly soiled at lower blank area of verso, mid-horizontal fold, not near signature. Overall, fine condition.

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