Letter to the editor

September 24, 2008 04:17 pm

— On “Black Tuesday,” Oct. 29, 1929, when after 12 years of Republican control of Congress and three Republican presidents the market crashed and the Great Depression began. I was 3 years old.
No, I don’t remember the day the market crashed, but I lived through the results of 12 years of Republican administrations. Google the Great Depression and find out if you want to go through another one. Is your hate for some groups of people and greed worth living through another greater depression? Just keep listening to the politicians that “tickle your ears” and they will lead you to another depression. The Republicans wrote part of their record 1921 to 1933.
They led the country to depression, poverty and despair.
The Republican party was ready to carry big business through the crisis.
It created the Reconstruction Finance Corporation for that purpose. The banks, the railways, the insurance companies — they got relief, but not the American people.
For the unemployed, it was Hoovervilles and soup kitchens. Veterans were encouraged to go into business for themselves — selling apples.
That is the Republican record. Today few remember it. The Democratic part of the record begins in 1933, when the Democratic party began to build prosperity for business, labor and agriculture.
The Democrats wrote into law the right of the working men and women to organize in unions of their own choice, and to bargain collectively: put a floor under wages: outlawed child labor: created a great insurance system to protect working men and women against the hazards of unemployment and old age: wrote into law a system of price supports for farm products, so that the bottom would not drop from under the farmer’s income the way it did in the 1920s; put a curb on Wall Street speculation, and stopped the money changers from gambling with people’s savings.
For over a half a century we have had prosperity. All are results of Democrat policies: Social Security, minimum wage, unemployment compensation, Medicare, Medicade and war on poverty.
After surviving the depression and a war, I had more than a half a century of great life. When I retired in 1991, I thought I had enough to live a wonderful life. It was great until 2002, my savings even increased in value. Since 2002 inflation, depressing interest rates and stock market losses have eat up much of my savings.
I hear from many that there are safe guards now to prevent another depression. Somewhat true, however the Republicans oppose those safe guards (all Democrat policies), they have destroyed some of them and have plans to eradicate the rest.
Eleven banks and thrifts have failed this year causing a strain on FDIC.
The FDIC was created during the depression to protect bank depositors. With the loss of FDIC funds and Wall Street losses, is your money safe? Increasing unemployment, manufacturers moving to other countries, cost of Iraq war, no money for weather crisis facing us today, high national debt, no money for crumbling infrastructure, small market drops in the past, foreclosures, big companies filing bankruptcies, last weeks big market crisis and federal bailouts for big industry along with inflation are clues to another depression.
If the majority of U.S. voters just want to ignore history and vote their hate and greed, they will get what they deserve. But, does our nation and our posterity deserve it?
Joe Forgy