Your people must have faith. In the 1920s, toledo was the Fastest Growing manufacturing city in america. In some, ways it was the Silicon Valley of today. The auto industry, cutting edge technologies, they were all centered here at the time. As a result, the Manufacturing Base was going gangbusters. Toledo seemed to be one of the brightest economic spots on the whole american map during a decade that was a decade of prosperity. Then, in 1931, the entire house of cards collapsed. And five of the six largest banks in toledo all failed at the same time. That made it the largest banking failure of the Great Depression. The Banking Industry here was perhaps more corrupt than other places. That contributed to its catastrophic collapse. Toledo was the 27th largest city in america. Its economy was rather diversified for a city of its size. It was an up and coming, major producer of automobiles. It had one of the largest Automobile Companies producing cars here. But it was also a city that had
That the only thing we have to fear is fear itself. By the time Franklin Roosevelt gives his 199033 speech, a quarter of the nation is unemployed. 5000 banks have failed and drought is persisting in key agricultural areas of the country. You people must have faith. Coming up in the next hour, stories from the Great Depression as we take you around the country to places like around the country to places like toledo. The banking failure of the Great Depression. 26 for Infrastructure Projects of the times impacting us today. And to one ending in tragedy. We will take you to st. Paul where a depression era gangster and the corrupt police force strike a bargain. We will explore the impact of programs like the civilian conservation corps, as we go to kansas outside of amarillo, texas. We would not have a park here if it were not for the corp. And we will learn about the people who were hit hardest, and their tails. When the sun comes shining announcer we take a trip to toledo, ohio. In the 1
Ive got another one for you. 25 million of us were indeed out and about over the last two weeks and that is a big increase. Its not back to normal but we are coming out of the total lockdown. Dead on arrival. Thats the speakers 3 trillion spending plan. It would have encouraged staying at home. It would have bailed out the Postal Service. It would not have provided any Liability Protection for businesses. It was a votebuying scheme. Thats my opinion. Thank heaven its dead. Now this. Fed chair powell is speaking right now. This is the man who is in charge of printing money so whatever he says is important and it can move the markets. Edward lawrence is with us. Whats the headlines, edward . Reporter yeah, stu, the Federal Reserve chairman saying right now we are in the worst recession since world war ii. He says that this is a severe decline of Economic Activity and that job gains over the past decade have been erased. He says the coronavirus is the largest shock in history. Hes talking
Now is in the southern section of puget sound, which is the Washington State and Pacific Northwest great inland water. When the Transcontinental Railroad came, there was talk about one day being able to stand puget sound. It was not an undertaking anybody was prepared to do. Federalhe depression programs, like the building of the coulee dam, there were big projects happening in the Pacific Northwest. Mid1930s there was talk about creating a bridge over puget sound. It would reach from tacoma to the kit sap peninsula. This bridge was opened on the first of july in 1940. After two years of construction. Bit of aa narrows is a wind tunnel. People working on the deck began to notice movement. Lifts like airplane wing in the bridge. Almost like Horizontal Movement they began to feel a vertical lift in the bridge, especially in the center span. Bridge,s no suspension anything like this, anywhere in the Pacific Northwest. Unfamiliarity of how a big thing like this was supposed to behave. Peop
1929, the Financial Health of the over and stated stock market plunges into a Great Depression, it grips the world. This land is your land this land is my land from california to the New York Island i want to see my country again holds a prosperity. This land was made for you and me snen send in let me insert my firm belief that the only thing we have to fear is, fear itself. By the time Franklin Roosevelt gives his 1933 speech, almost a quarter of the nation is unemployed. More than 5,000 banks have failed. The drought is persisting in key agricultural areas in the country. People must have faith. Coming up in a next hour, stories from the Great Depression as we take you around the country to places like oledo. In 1931, five of the six largest banks in toledo failed at the same time. Which made it the largest ranking failure of the Great Depression. To successful Infrastructure Projects impacting us today. And to one ending in tragedy. We will take you to st. Paul, where depression er