The Great Depression

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.

This article reported on a phenomenon that is common in our own day as well as the era of the Great Depression. It exists in any locale that fosters a lousy environment for business – for when the entrepreneurial classes loose their daring for investing in commercial ventures and when bankers refuse to loan money for fear that they will never be paid back, it leads to the creation of what is called dormant capital – money that should be working, but isn’t.

There is now piled up in banks some $46,000,000,000. As opposed to $39,000,000,000 at the low point of 1933, and the idle capital is on the increase. World trade has virtually broken down.

As one editorial makes clear, FDR had a tough time freeing up private capital for investments, click here to read it.

In order for FDR’s Federal Government to layout their planned economy they had to be able to forecast the future trends in unemployment, and with that in mind it was deemed suitable that a committee be convened to study the matter. The board of brainiacs called themselves the National Resources Committee and their study was boundless and all encompassing. This article summarizes the findings of one of the organization subcommittees; their 450,000-word report was titled Technological Trends and National Policy, Including the Social Implications of of New Inventions. The head of this subcommittee was the famed sociology professor William F. Ogburn, and as the title implied, the report studied the blessing and the curse that is the nature of technological innovation.

It must have been very difficult to maintain a sunny disposition back in the Thirties! No doubt, residents of the Great Depression would often have to make their own good news. For example, that same month in 1932 when this article appeared it was also announced that for the first time in the nation’s history alien emigration from the United States during the last fiscal year exceeded immigration [to the United States], figures being 103,295 and 35,576 respectively – there! For those people who disliked hearing foreign accents on the streets, there was a glimmer of hope – and that’s what this article was all about: finding hope.

An article about FDR’s scheme to create an American Utopia purchased with high taxation. The article closes with an amusing poem about the tyranny of taxation.

In the Summer of 1938 the New Deal administration turned its attention to the Southern States in an effort to solve the poverty that had long afflicted the region and was especially keen during the Great Depression:

The War Between the States freed the slaves, but it did not free the South. Old plantations were broken up. Pressed to meet mortgages, farmers leased part of their farms to tenants. Cheap [African-American] labor remained and children were pressed into service on the Southern fields. Cotton and low labor costs stayed in the South.

Read about FDR’s African-American advisers here…