 "The optimistic year-end forecast - numerous authorities predicted at least a 25 percent rise in residential contracts and officers of the John Manville Corp. forecast the erection 400,000 privately financed homes, largest volume since 1929 - have been buttressed by several important developments since the turn of the year." "The total amount of retail trade in 1929 was approximately $50,033,850,792 in net sales, but the ten percent of chain stores did $10,771,934,034 of this trade - or twenty-one and a half percent of the total! In the miniature department store field, selling articles for nickles, dime, quarters and dollars, earning charts show an average return on capital invested in 1920 of nearly fourteen percent. In 1925, this percentage rose to twenty-five. In 1930, after trade had begun to suffer, earnings still were in excess of of thirteen percent." "In a statement for the month of December, President Green of the Federation of Labor placed the number of unemployed at about 5,000,000; estimated that incomes of wage earners had declined over $6,000,000,000 in the past year and said about 50 percent of trade union members had had to lower their standard of living because of lowered incomes." Unlike the CCC, WPA, CWA, or DRA, you can type FCA.gov into a search engine and actually make contact with one of FDR's multiple alphabet agencies. This 1937 article will tell you why it came into being - but it won't tell you why the agency wasn't done away with during any of the decades of plenty that followed. In the Spring of 1935, as the world slipped deeper and deeper into the muck of the Great Depression, journalist Cedric Fowler noticed that both governments state and Federal were introducing legislation that was designed to muzzle free-speech and make the deportation of foreign radicals far easier. At first he thought it was a result of the spread of Fascism across the globe - and it had finally reached our shores. He also considered the possibility that the elected classes, realizing that they were unable to reduce the destruction of the Depression, felt emasculated and invigorated by picking on the radical minority. Either way, he feared for the nations future.
We always knew that we'd one day find a reminiscence of the Great Depression - what we didn't expect is finding it in a magazine from 1937. As mentioned in another part of this site, 1937 saw some measure of economic recovery (until it didn't) and this reminiscence was penned by a fellow who wanted so badly to believe that the whole thing was finally over. He wished so earnestly that the Depression had ended that he listed just what he was missing about it already. Little did he know he had three more years to go. |
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