February 2, 2009

What $5 bought_e6b00.jpg (I can't imagine what it would be like now!)

Six years after FDR took office in his first term, he gave an evaluation of where The New Deal was going and what it had done. In the time (from 1933 to 1939 when this address was given) a number of changes took place, not the least was a Recession in 1937 and various court challenges to the NRA, which eventually put it out of existence. And then there was the issue of "Court Packing" in 1937. A lot going on in a comparatively short period of time

But the bottom line was, the New Deal was working and America was slowly getting back on its feet. There was a war looming in Europe, the dress rehearsal being the Spanish Civil War in 1936. The reminder - then as now, is that recovery isn't an overnight thing, the detractors nay-sayers and illusionists were as prevalent then as now. Further evidence some aspects of history don't change at the drop of a hat or change of a phrase.

(Fiscal Policy Address of May 22, 1939 - excerpt)

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