Franklin D. Roosevelt

David M. Kennedy

Franklin D. Roosevelt

FRANKLIN D. ROOSEVELT LIBRARY

IT was the worst of times when Franklin Delano Roosevelt assumed the presidency in March 1933. Following the ruinous stock market crash of late 1929, the bottom seemed to drop out of the American economy. By 1933, securities listed on the New York Stock Exchange had lost more than three-quarters of their 1929 value. Industrial production had fallen to half its 1929 level. Agricultural income had plummeted even more sharply. Piles of unmarketable wheat flanked railroad tracks across the plains states. Desperate Iowa farmers blockaded the approaches to Sioux City in the summer of 1932, assaulting vehicles that tried to breach the makeshift barricades of logs and spiked telephone poles.

Americans had earned some $88 billion in 1929. Those still lucky enough to be working earned less than half that amount four years later. One wage earner in four—some 13 million people—had no job in 1933. Some 5,000 banks collapsed in the first three years of the depression, carrying down with them the life savings of tens of thousands of citizens. Those cold statistics only hinted at the human suffering that the Great Depression inflicted. Anxious men and women postponed or canceled plans to marry. Struggling couples had fewer children. Even the divorce rate declined, as the contracting economy sealed the exits from unhappy marriages. Disillusioned immigrants forsook the fabled American land of promise and returned by the thousands to their old countries. Nearly 100,000 down-and-out Americans responded to an advertisement in 1931 offering employment in the Soviet Union. More than a million homeless hoboes drifted about the country in search of work. "Hoovervilles," tar-paper and cardboard shanty-towns derisively named for the incumbent president, sprang up on the outskirts of virtually every major city.

One such encampment of the unemployed arose in the summer of 1932 on the damp flatlands along the Anacostia River, in the District of Columbia. Bivouacked in old pup tents and huts fashioned from packing cases, some fifteen thousand veterans of World War I sought by their presence in Washington to wring from Congress the early award of a war-service bonus scheduled to be paid in 1945. President Hoover responded by putting the White House under guard, chaining its gates, and mobilizing four troops of cavalry under the command of General Douglas MacArthur. Exceeding his orders to contain the "Bonus Expeditionary Force" in their campsite at Anacostia Flats, MacArthur cleared the area with tear gas and put the marchers' shacks to the torch.

Against this background of deepening economic distress and rising social tension, Democrats met in Chicago in June 1932 to nominate their presidential candidate. Their party had not commanded the White House since Woodrow Wilson's departure in 1921. In the intervening years, the party had been riven by apparently irreconcilable conflicts between its stunningly disparate factions: agriculturalists opposed industrialists; the largely rural, Protestant, old-stock Anglo-Saxon South, still the party's principal power base, struggled to accommodate the growing influence of the Catholic American body politic. Their effort to coalesce, to agree on a candidate, and to govern thus tested the ability of the society itself to cope with the crisis of the depression in a coherent, effective way.