The year is 1932.
Black Tuesday long since past, the effects still linger.
FDR accepts the democratic nomination and campaigns on the promise of a ‘new deal’.
Throughout the nation men and women, forgotten in the political philosophy of the Government, look to us here for guidance and for more equitable opportunity to share in the distribution of national wealth… I pledge myself to a new deal for the American people. This is more than a political campaign. It is a call to arms.
Despite a decisive victory in the presidential elections of 1932, the ‘new deal’ would not be as entirely popular. Many of the programs introduced were considered fascist by critics. Early into the ‘new deal’ FDR felt compelled to justify this expansion of government.
(They) will try to give you new and strange names for what we are doing. Sometimes they will call it ‘Fascism,’ sometimes ‘Communism,’ sometimes ‘Regimentation,’ sometimes ‘Socialism.’ But, in so doing, they are trying to make very complex and theoretical something that is really very simple and very practical. . . . Plausible self-seekers and theoretical die-hards will tell you of the loss of individual liberty. Answer this question out of the facts of your own life. Have you lost any of your rights or liberty or constitutional freedom of action and choice?
The tremendous power of organization has combined great aggregations of capital in enormous industrial establishments . . . so great in the mass that each individual concerned in them is quite helpless by himself. . . . The old reliance upon the free action of individual wills appears quite inadequate. . . . The intervention of that organized control we call government seems necessary. . . . Men may differ as to the particular form of governmental activity with respect to industry or business, but nearly all are agreed that private enterprise in times such as these cannot be left without assistance and without reasonable safeguards lest it destroy not only itself but also our process of civilization.
Historians and economists are divided as to the effect this ‘new deal’ had on the great depression…in all likelihood a consensus will never be reached…
How is any of this relevant?
Well, there was a Black Tuesday.
The great depression ended (regardless of any deal) with onset of World War II.
And finally, in the first days of his term, FDR legalized the sale and production of alcohol (during prohibition – that is prior to the repeal and amendment XXI) and this long BEFORE any other economic stimulus or program was introduced in those all important ‘first hundred days‘.
Once I was blind and now I can see…she sells sea shells by the sea shore.
Starting today I will be more Santa and less spandex.
Be afraid. Very afraid.