With FDR waiting in the wings, eagerly anticipating the start of his administration, the outgoing president, Herbert Hoover (1874 1964), made his farewell address to the cash-strapped nation:
"Warning against the 'rapid degeneration into economic war which threatens to engulf the world' the President said that 'the imperative call to the world today is to prevent that war.' The gold standard, he said 'is the need of the world,' for only by the early reėstablishment of that standard can the barriers to trade be reduced.'"
Read about the Great Depression and the U.S. auto industry during the last year of the Hoover presidency...
The author of this brief paragraph points out that prior to the Great Depression that commenced in 1929, there were as many as five other economic slumps that existed in America's past. He remembered that in each case "something unexpected has come along to not only put us back on our feet again but to boom things in addition."
"Will it be the sudden perfection of television? Or further development of electrical appliances, particularly air-conditioning and cooling? Or some new novelty?"
During the summer of 1937 the U.S. Census Bureau released the data that was compiled by it's business department concerning the payrolls dolled out by the nation's wealthiest industries in 1935. The information gleaned from these payrolls indicated which were the five richest counties in the country based on personal income. These small municipalities could be found in two Eastern states, two Mid-Western states and one Western state.
Jump ahead to our own time and you'll learn how much the game has changed: today the top five wealthiest counties in the United States are all located in the Maryland and Virginia Suburbs that lie just outside the District of Columbia!
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 - but it won't tell you why the agency wasn't done away with during any of the decades of plenty that followed.