Book excerpt: Historians have generally failed to understand the significance of the election of 1924, the last time both major political parties nominated a bona fide conservative candidate. 'The High Tide of American Conservatism' casts new light on both the election and the two candidates, John W. Davis and Calvin Coolidge. Both nominees articulately expounded a similar philosophy of limited government and maximum individual freedom; and both men were exemplary public servants.