“Gentlemen prefer bonds,” said Andrew Mellon (1855-1937), wealthy American financier, banker, and U.S. Treasury Secretary. Commons shares, or stock, were considered too speculative for gentlemen; best left to disreputable speculators. Had more investors heeded Mellon’s advice, the horrendous stock market crash of October 1929, which ushered in the Great Depression of the 1930s, would likely have […]
Tag: Economic depression recession
Flour sack clothes fashionable in Great Depression
“Ask for Flour Sack to Use for Clothing For Farmer’s Family,” said the headline in the Regina Leader Post, January 5, 1925, in an appeal to help a distressed Saskatchewan farm family. “Three successive crops dried up, hailed out and burned by fire—children take turns to wear one set of clothes.” Sack clothing was popular […]