Chelan in the 1930’s
By Dick Simonds
Our country in the early 1930 went through an agonizing economic depression that left many people unemployed, without money and all the other negative life items that were associated with depression.
One of the businesses that were integrally involved was that of financial institutions (Banks). The depression accelerated during this period and farmers were hit hard .
During the previous decade (1920’s) banks failed at an average rate of 70 per year. In the 1930’s 9000 banks failed.
In 1933 the new President , Franklin Delano Roosevelt , declared a bank holiday that lasted 3 days which was to be a cooling off period. His speech included the phrase “The only thing we have to fear is fear itself”. He used this phrase again at the beginning of World War 2.
Chelan’s bank at this time was the Miners And Merchants Bank. Below is a written recollection by Bob Little, President ,of the bank holiday in Chelan. We were in good hands at that time.
This article also appears in this year’s history notes. Life members can come to the Museum to pick up their “History Notes”. For those who pay their dues annually we invite them to do so at the museum and also obtain their “History Notes” .
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