Showing posts with label stock market crash of 1929. Show all posts
Showing posts with label stock market crash of 1929. Show all posts

Monday, August 08, 2011

Apples for the Unemployed


Having -- like most of the rest of the country -- concluded that the newly-born depression was no big deal, The New Yorker, managed to virtually ignore it until November 1930. Then, suddenly, the paper was FULL of depression references...to apple sellers.

Cartoons. Comments. Little snipes in otherwise unrelated articles. I don't know if the apple seller scheme -- the International Apple Shippers Association sold apples to the unemployed at a loss, putting an "apples for the unemployed" vendor on virtually every New York street corner -- actually worked, but it certainly seemed to put a visible face on the worsening depression, and it also annoyed a lot of pedestrians in the city. Those with jobs, anyway.

Another source of depression news in the paper were the ever-present full-page advertisements for the Evening Standard, which basically said "These troubles will be over soon, and the only firms which will survive are the ones which continue to advertise!" The Evening Standard was truly making lemonade in response to the lemons...or at least grinning while eating the lemons raw.

I leave you with a poem called "Confession" by Richard Peckham, from the November 29, 1930 issue:
It may be shameful to avoid
The apples of the unemployed
But, since they've been on every corner,
I have become an apple-scorner.
Snow, McIntosh, and Northern Spy
Are now as painful to my eye
As pencils and shoelaces were
When apples were uncommoner.
An antisocial state of things,
I know. It will not earn me wings.
But why, when wits were being deployed
To get the unemployed employed,
Did no one, to whom things were clear,
Distribute, say, light wines and beer?

Saturday, July 31, 2010

Here's How to GET RID of Prohibition

As best as I can glean from the pages of The New Yorker, 1930 was the year of:
  • Backgammon. All the department stores were selling deluxe sets and offering free lessons and tournaments.
  • Tom Thumb golf. Suddenly there were courses everywhere. Rather than the low-rent "mini golf" of today, the fad was marketed to the Gay Young Things as an after-club pastime drunkenly played in evening gowns, tuxedos, and high heels. Much ado was made about the damage to the courses caused by high heels.
  • Maybe this "depression" thing isn't going away?
  • Even the staunchest defenders of prohibition are getting sick of it. Like, to the point where virtually everybody wants to somehow repeal it.
The most obvious sign of the anti-prohibition fever so far is this advertisement in the October 18, 1930 issue. It sums up everything I've been reading (click for a larger view).


Joseph S. Auerbach seems to have been a moderately well-known lawyer...well-known enough to have been publishing books before and after this one, at least.

The Volstead Act would not be repealed until 1933, so it will be interesting to see if this vocal opposition continues to swell, or if it will simply be viewed as a fait d'accompli in the laps of the lawyers.

Sunday, January 17, 2010

"God's Country: A Short History" by Ralph Barton

The New Yorker panned this book, but it sounded so interesting that I couldn't resist finding a copy: "God's Country: A Short History" by Ralph Barton, published in 1929. As you can see by the tag list for this post, it contains elements of pretty much everything I talk about in this blog.

Barton was a popular '20s cartoonist and caricaturist, and he seemed to be trying to establish himself as a writer before his manic-depression prompted his suicide in 1931. I'm not surprised that he killed himself two years after writing this book. "God's Country" is a bitter thing indeed.

It's a satirical, absurd history of the United States, beginning with Christopher Columbus and ending with a bizarre dystopia in which women have taken over the government, radio advertisers have inadvertently caused widespread looting and domestic terror, and poison gas has destroyed everybody except for eight criminals who -- following the intentions of the pilgrims from the beginning of the book -- set out to wreck everything all over again.

Oooo, it's nasty. Barton has equal loathing for Democrats and Republicans (known in the book as "Uniboodlists" and "Multiboodlists" for reasons I didn't understand), Presidents ("Misters"), businessmen ("Interests"), newspapers (who dictate "Public Opinion"), and the everyday citizens who allow the aforementioned to get away with everything they do, over and over again, throughout the entire history of democracy.

Is there anybody Barton doesn't hate? He appears to have sympathy for Native Americans, he finds few unpleasant things to say about Abraham Lincoln, and he goes out of his way to avoid lampooning African Americans, but for the most part "God's Country" is a relentless, snarky skewering of EVERYBODY. And that means you too, reader. And me.

You can imagine how tedious such a book can be. It's especially tedious to somebody (like me) who doesn't know the finer points of every President -- errr, Mister -- in American history. Barton goes through them all, giving them the names of monarchs ("St. Abraham," "Franklin the Debonaire") to highlight one going theme throughout the book: the American obsession with electing "jus' plain folk" who are -- in actual fact -- part of the social elite who have been carefully groomed to appear otherwise.

This obsession is one element of the book that still holds true today (see Palin, Sarah). Another element is the reliance on FEAR to manipulate public opinion, as formented by business requirements and amplified by the newspapers. We sometimes fall into the trap of thinking that the disgusting collusion of politics, business, and media is a relatively new phenomenon. "God's Country" will tell you different.

After 250 pages of spot-on satire, Barton comes to women's suffrage and temperance activism. I can only assume that he really, really didn't like women, as the book tips from "cutting satire" to "cruel stereotype" in the space of a few pages, detailing a world where women with "blacksnake whips" run around emasculating everybody and turning them into "ex-males." They conceive arbitrary rules and devise irrational schemes to enforce them, finally bringing about the downfall of the already-tottering country. It's ludicrous and leaves a bad impression, and is probably one of the reasons The New Yorker reviewer panned it.

But there are great moments, especially near the end when everything goes completely off the rails. The businessmen are discovered to have retreated into a secret society with its own language ("Six huh pcent a fi million dollas is thutty million dollas. Fiscal.") and in a mysterious desert pilgrimage they invent golf. This presentation of Big Business as a totally self-interested, self-contained, and illogical cabal is ominous in light of the subsequent financial collapse.

When the new breed of radio announcers start to amuse themselves by shouting demands like "Desire to see a prize fight!" and "Long to see a movie about Arabs!", the book provides an amazing insight into '20s popular culture. It's like reading a Readers Digest Condensed Version of The New Yorker between 1925 and 1929:
[They were] soon being ordered to deodorize, to smear mud on their faces, to hate New York, to play Mah Jong, to do cross-word puzzles, to ask each other questions, to bathe in violet rays, to develop personalities, to practice numerology, to adore the Russians, the negroes and aviators, to eat Eskimo Pie, to throw bits of paper out the window, to have themselves psychoanalyzed, to engage in Marathon contests, to eat liver and to perform a thousand other like obediences.
When "God's Country" is good, it's very, very good, but most of it is the 1920s brand of screwball, sledgehammer burlesque that leaves me exhausted, alternating with some surprisingly dry historical dissection.

More importantly, however, it is a clear expression of the immense disgust that an intelligent, educated, creative, and mentally-tortured man had for all the things he saw in the world around him. If he'd had a more balanced view of human nature then "God's Country" would be an easier book to read, but it never would have been written in the first place.

Friday, September 25, 2009

Stocks and Cigarettes

The articles in the 1929 New Yorker continue to use the stock market crash as fodder for jokes and insults, but now the advertisers are trying the angles:


It's an advertisement for Fatima cigarettes, and the tagline is "Yes...and what a whale of a difference just a few cents makes." Fatima's gimmick was that their cigarettes cost more than the rest, but only because they were far superior.

Anyway, what is this advertisement meant to convey? Is the guy in the picture receiving good stock news, or bad? Considering that pretty much EVERYBODY got bad news at this time, it would seem awfully strange to alienate customers by saying "Ha ha, YOU might have lost everything, but FATIMA smokers didn't!"

On the other hand, if the guy in the picture DID lose everything, why are they all so happy? Is it because they have a backup plan: to put their amazing levitating dog on the vaudeville circuit?

I don't know and I am confused.

Wednesday, September 16, 2009

The New Yorker and the 1929 Stock Market Crash

I've mentioned in the past that, because I am reading The New Yorker back issues chronologically, I am anxious to see historical events unfold. Now, in the November 2, 1929 issue, I've finally come to the Wall Street Crash of 1929.

The magazine treats the issue in a flippant way, which is frustrating; I can't wait for The New Yorker to graduate from the goofy humour rag of its early years! Maybe the crash (and depression) will inspire a more serious tone, but the first indications on page sixteen do not suggest such things.
The collapse of the market, over and above the pain, couldn't help but be amusing. It is amusing to see a fat land quivering in paunchy fright. The quake, furthermore, verified our suspicion that our wise and talky friends hadn't known for months what they were talking about when they were discussing stocks. Forcing us to breakfast on copper and oil, dine on sugar and food products, and sleep with rails and motors, they had succeeded in boring us to the breaking point.
Then they talk about the arrival of a rodeo. Oh well, I guess things can't change TOO quickly.

Thursday, July 30, 2009

Embarassing Moments: Financial Ruin

I continue to be on "Wall Street Crash" watch while reading the New Yorker. By late 1929 I've seen a ton of advertisements which ENCOURAGE people to invest heavily in the market, but this one from September 14, 1929 -- just a month before the crash happened -- is truly, truly ominous.


I wonder: were financial experts at the time warning of a crash, and was this advertisement a reflection of that? It seems like an awfully big coincidence.

Wednesday, February 25, 2009

The Doomed Ticker Party


Seeing these happy, upscale New Yorkers playing "Ticker: The Wall Street Game" in the middle of 1929 rings my irony warning-bells, and also makes me a little bit sad.