From Depression Street to Prosperity Avenue: Turning the Corner with Roosevelt in Cumberland County

America has been traditionally seen as the "land of opportunity" where anyone who is willing to work hard enough can become rich. Indeed, it was on this basis that generations of immigrants were lured to America in the belief that they could build a better life for themselves here. During the 1920s, however, many Americans thought that they had found a way to become rich without having to work hard by investing in the stock market. As time passed, more and more people put their faith in the upward trend of the market and invested heavily in it.

And finally they (stock brokers) knew their American public. It could not resist the appeal of a surging market. It had an altogether normal desire to get rich quick, and it was ready to believe anything about the golden future of American business. If stocks started upward the public would buy, no matter what the forecasters said, no matter how obscure was the business prospect.¹

Cumberland County, as a microcosm of American society, was likewise affected by the investment frenzy of the 1920s and enjoyed the prosperity of the American economy during that period. Indeed, at the end of 1928, predictions for the upcoming year were for continued economic growth. "The year 1928 is going out with a well blazened path of prosperity, contentment, political quietude and pleasant assurances of a continuance during the year 1929" 2 (Sentinel, Jan. 1 1929, p. 1). Headlines on 3 January 1929 noted that "Business Leaders See Advance in 1929: Expect Great Prosperity of 1928 to Continue and Increase in Next Year." 3 (Sentinel, p. 1). Although people were warned that inevitably there would be a downward trend in the business cycle, few people in 1929 believed that it would come that year.

Indeed, the Stock Market crash on 29 October 1929 shocked the residents of Cumberland County as much as it did people everywhere. Neither was the area immune from its aspects. Roger Steck, a resident of Cumberland County and a reporter at the Carlisle Sentinel during the 1930s, remembered how the Crash affected the county.

I remember one of the most prominent citizens in Carlisle-socially, economically, other ways, the President of one of our shoe factories- lost very, very heavily. He went to the attic in his home and shot himself- took his life . .. there must have been many, many more in Carlisle- men and families who lost heavily when the Stock Market plunged. You see, this happened all of a suden. It wasn't gradual. It caught many people unaware.

It is also interesting to note the double edged headlines in the Carlisle Sentinel on Black Tuesday which noted "First Report Today Gives $11,742 to Community Chest" and "Billions in Market Values Wiped Out in Terrific Selling. " Thus, it is ironic that Carlisle began its annual drive to help the needy on the same day as the Stock Market crash which resulted in there being a greater need for welfare services.