In tribute to Senate Republicans’ blockage of Wall Street/Financial Reform legislation last week (thanks to the death of Senator Robert Byrd taking one vote away from the Democrats — plus the Democrats’ lack of conviction to make due with a simple 51 vote majority by forcing Republicans to actually stage their filibuster on the matter), we continue our look at Republican rhetoric from the First Great Depression, so it can be compared to our current Second Great Depression (or, Bush’s Depression), both of which were caused by Republican policies.

Since the Stock Market Crash of 1929 occurred during Herbert Hoover‘s first year as President, it’s not really fair to blame him for it. Its causes were a carry over from his immediate predecessors, Republican Presidents Warren G. Harding and Calvin Coolidge. What can be nailed to Hoover, though, was his response to the crisis. His approach was basically the same pro-Wall Street laissez-faire, government shouldn’t get involved, the Free Market will correct itself if left alone, approach, which today’s Republicans/Tea Party extremists advocate. This approach — which Republicans currently want us to follow - was exercised for three years under Hoover, resulting in the Depression deepening. Roosevelt, of course, also failed to pull America out of the Depression; his government programs began to do the job, but then the deficit hawks kicked in, and he’d pull back, so that the progress he did make, would then falter. (This also has its parallel today — lack of second stimulus under Obama, out of fear of long term debt, is cited as the impetus for this week’s downward stock trend, because many economists now predict a worsening of the economy because of a lack of needed government spending programs.) What finally brought America out of Great Depression I, was WW II. Or, to be more precise, the extreme government spending, without concern for deficit, of World War II.

All of the following cartoons appeared in 1929 and 1930, in the at-that-point pro-Wall Street, pro-Republican publication, American Review or Reviews. These appeared first in newspapers, and were selected by Review of Reviews the following month, to be reprinted. In these, Hoover is shown (for three years running) on the point of fixing the economy. In some cases, the fault of the Depression is placed upon the Gloomy Gus negative attitude of businesses or consumers, who should simply get off their duffs and start producing again.

The first two cartoons below are pre-Crash, appearing in Review of Reviews in April 1929, on the occasion of Congress beginning its first Session under the newly inaugurated president. Left, by Rollin Kirby in the New York World, Hoover — The New Teacher - arrives on the scene to show Congress and the nation how things should be done. Right, from the New York Telegram, by Harold M. Talburt, All Right — Let’s See it Work, showing the American public wanting to see how Hoover’s policies perform.

Click on any picture, to open an enlarged version.

The next two cartoons appeared in the January 1930 American Review of Reviews, showing Hoover at work on the economy. Left, Non-Skid Precautions, by Marcus, in the New York Times. Right, by Warren in the Cleveland News, The Spirit of ’30, showing Hoover as the piper, playing the ever familiar Republican tune, that Tax Reductions lead to Good Wages and Business Expansion (sometimes true, but not always — history has recorded Hoover’s results in this example).

Below, from the September 1930 Review of Reviews, Mr. Hoover Likes Jig-Saw Puzzles, by Bishop in the St. Louis Star, showing President Hoover attempting to figure out where Prosperity fits in his puzzle set of issues. Sticking out of his back pocket (blurred because that edge of the cartoon is near the volume’s center crease — sorry), is the puzzle piece for Mr. Hoover’s Vacation Plans.

If the repeated references to vacations are any indication, the appearance (at least) is that George W. Bush and Herbert Hoover shared something else beyond being Presidents under whom Great Depressions began (not to tarnish Hoover by the association)… Below left, Talburt again, from the July 1930 American Review of Reviews — Looking Forward to a Vacation. While below right, from the April 1930 Review of Reviews, a snapshot of Hoover on a fishing vacation.

Finally (for now), both by Bill Sykes in the New York Evening Post, and both appearing in the January 1930 Review of Reviews, Hoover’s Prosperity Program is shown scaring off those lazy bums, Gloom and Pessimism. Left, What’s De Use!, and right, No Chance for a Hitch Hike Here.

For the next several days, though they don’t deserve it, I’ll be cutting Republicans a break, as I have promised serialized episodes to present.

Click here to find prior Wall Street Frauds Make Wonderful Cartoons entries, and related I.T.C.H. posts. This series will continue, so long as the debate on financial reforms continues in Congress (except Mondays and holidays, during which I’d already had other material planned).

Doug Wheeler

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