Eight months before the Congress passed the Glass–Steagall Act (aka the Banking Act of 1933) this unsigned editorial appeared in a Washington-based news magazine pointing out that the economic downturn in the country had created a need for such legislation.
Click here to read another 1932 article about the banks.
Perhaps it was the practice of magazine editors during the Great Depression to instruct their reporters to find hope where none existed; that must have been the case for this article. The unnamed journalist who wrote this slender column reported on a few rare cases involving real jobs with real salaries being offered to recent graduates; the reporter wished to believe that this was a sign that the end was nigh - but these few jobs were flukes. The author saw economic growth where there really wasn't any at all, however he certainly made the case for its existence. The title link posted above leads to a passage from FDR's Folly: How Roosevelt and His New Deal Prolonged the Great Depression by Jim Powell that explains the true situation that existed in 1937, when unemployment stood at 20 percent by Summer.
This photo-essay tells the story of the radical elements within the United States during the later period of the Great Depression - all of them were directed and financed by Georgi Dimitrov (1882 - 1949) in far-off Moscow. The leaders of the American Communist Party USA (CPUSA) were William Z. Foster, Earl Browder, and Ella Reeve Bloor.
Click here to learn how thoroughly the FBI had infiltrated the CPUSA.
Click here to read about the blackmail and extortion tactics that American Communists used in Hollywood during the Great Depression...
Was former Vice-President Henry Wallace a dirty Red?
From Amazon: Demagogues in the Depression: American Radicals and the Union Party, 1932-1936,
This short column refers to the growth of the U.S. deficit that was bloated during the Hoover Administration (1929 - 1933) - which up to that time was the largest ever incurred during peace time. When FDR assumed the mantel of the Presidency, it would grow considerably larger.
"Some people have maintained that doctors weren't hit so hard by the economic slump. The claim was that people couldn't help getting sick and their misfortune was the doctor's gravy. But the Committee on the Cost of Medical Care, a non-governmental committee, of which Secretary Wilbur is chairman, reports a rapid decline in the income of doctors during the Depression... In 1930, the first [full] year of the Depression, physician's incomes decreased 17% and they have been decreasing ever since."
The author also included some other elements gleaned by the committee - such as the average sum paid by the families in their study, the approximate cost of the nation's medical bills and an approximation concerning the number of medical professionals at work in 1931.
Illustrated with the images of shanties and tents that once surrounded Universal Studios, this article tells the sad story of Hollywood movie extras and the challenging lives they led during the Great Depression:
"Tossed out of other work by the recent depression, attracted by the false stories of Hollywood's squanderings and extravagances, excited by the thrill of living and working in the same town and the same industry with world famous personalities, they drifted to Hollywood and attached themselves to the motion picture industry. They registered with the Central Casting Bureau, and joined the great army of extras."
"These people saw no glitter, no romance, no bright mirage of stardom. To them, it was hard work and serious work..."
For further reading:
Hollywood Unknowns: A History of Extras, Bit Players, and Stand-Ins
Read about the wages paid to extras during Hollywood's silent film days.