Among the more popular and successful of these was the creation of the Public Works Administration (PWA) and the Civilian Conservation Corps (CCC), jobs programs which were modeled on similar programs in New York State. [Read more…] about Wall Street History: The Great Depression & A New Deal For Working People
Franklin D. Roosevelt
Initially many thought the severe Wall Street crash of October 1929 was a temporary phenomenon and like many subsequent crashes (i.e. 1987, 2008) the stock market would recover in a few months or years.
Unfortunately, this did not prove to be the case. After some upward spurts, stocks on the New York Stock Exchange continued to fall for the next three years and economic conditions throughout the country continued to worsen, so that by 1932 the market closed at 41, a drop of 89% over its 1929 high of 381. Employment in Wall Street firms plummeted, as the once heady activity evaporated and the Great Depression took hold.
The response would require a great reset between Wall Street and working Americans. [Read more…] about The First Great Reset: Wall St, the Great Depression & the Pecora Commission
The break-up of Standard Oil and other monopolies during the Trust-busting Era, created somewhat greater competition, but did not significantly impact Wall Street, or its major players. For example, after the success of the Justice Department in the 1911 Supreme Court Case United States v. Standard Oil (in which the Court ruled that Standard Oil of New Jersey violated the Sherman Antitrust Act), the company was ordered broken into 34 ostensibly independent companies. *
The stock in each of these companies was distributed to Standard Oil Company shareholders (principally the Rockefeller family) and each company had separate boards of directors and separate management, but by and large they continued to operate on separate floors of the same building — 26 Broadway in Manhattan. [Read more…] about Wall Street History: Individual Investors & The Crash of 1929
Sol Bloom (March 9, 1870 – March 7, 1949) was a song-writer and Congressman from New York who began his career as a sheet music publisher in Chicago. He served fourteen terms in the House of Representatives from the West Side of Manhattan, from 1923 until his death in 1949.
Bloom was the chairman of the House Foreign Affairs Committee from 1939 to 1947 and again in 1949, an important period in the history of American foreign policy. [Read more…] about Sol Bloom: A Manhattan Leader In American WWII Foreign Policy
As a presidential advisor of African American Affairs during the Roosevelt administration, Mary McLeod Bethune formed the Federal Council of Negro Affairs, which would become known as the Black Cabinet. [Read more…] about Trailblazing Women: Mary McLeod Bethune
“Saturday was a sad day for all of us and I know that all of Fala’s friends will also be sad to know that he slept away, and the little dog’s story had come to an end.”
Eleanor Roosevelt wrote these words in her column “My Day” on April 8th, 1952. She was saddened by the loss of the famous Scottish Terrier that belonged to her late husband FDR. Both Fala and his grandson Tamas McFala, also a Scottish Terrier, were constant fixtures at Val-Kill in Hyde Park, the home of Eleanor Roosevelt after President Roosevelt died. [Read more…] about Fala, A Presidential Dog
“Last week I acquired from my husband’s estate about two-thirds of the land which he owned here in Hyde Park. My son Elliott and I have gone into partnership and we are going to farm the land on a commercial basis,” Eleanor Roosevelt wrote in her “My Day” column on August 19, 1947.
This would be the beginning of a joint venture with her third child Elliott to turn a profit from the estate lands of Franklin Delano Roosevelt. [Read more…] about Elliot Roosevelt’s Christmas Tree Sales At Val-Kill
It was about 1931. Apperson was an General Electric engineer fighting to protect Lake George and other wild places. As Schaefer said, it was the pure sense of joy that Apperson exuded about conservation in the Adirondacks which galvanized young people looking for a cause.
These were very important years for the Adirondacks, as for the nation. The 1932 national election loomed, as the Great Depression sucked hope and savings from so many. One can imagine the anxiety that gripped the country and the opportunity for hucksters, demagogues, as well as statesmen. [Read more…] about Al Smith, John Apperson, FDR & The Fight That Expanded NYS Forests
The 16th annual Roosevelt Reading Festival has been set for June 15th at the Franklin D. Roosevelt Presidential Library and Museum, 4079 Albany Post Rd, Hyde Park, from 10 am to 5 pm. [Read more…] about Roosevelt Reading Festival at FDR Library Saturday
On the most recent episode of the podcast A New York Minute In History, co-hosts Devin Lander and Don Wildman examine how two New Yorkers – Al Smith and Franklin Delano Roosevelt – influenced the Progressive Era of the early 20th Century. The episode also explores how the administrations of Smith and Roosevelt shaped modern day politics and the role of government. [Read more…] about Al Smith, FDR, and the Progressive Movement