What I remember most of those times is that poverty creates desperation, and desperation creates violence.
Studs TerkelThis I remember. Some people put this out of their minds and forget it. I don’t. I don’t want to forget it. I don’t want it to take the best of me, but I want to be there because this is what happened. This is the truth, you know. History.
Studs TerkelI presumably lost $150,000 in the depression of 1937—on my one stock investment—because I did everything Lehman Brothers told me. I said, well, this is a fool’s procedure . . . buying stock in other people’s businesses.
Studs TerkelMots clés history-repeating-itself
The worst day-to-day operators of businesses are bankers.
Studs TerkelIt was in ’35—we had this campaign to raise a million tax dollars. In the town of Phillips, one evening, during a blizzard, I was met by a crowd of miners. They were given the day off and a stake to attend this meeting. They surrounded me and said this tax would cost six hundred of them their jobs. They were busted farmers and fortunately found a job in these Home Stake mines. I went back home feeling worried. But the tax was passed, and not a single miner lost his job.
Studs TerkelAfter the stock market crash, some New York editors suggested that hearings be held: what had really caused the Depression? They were held in Washington. In retrospect, they make the finest comic reading. The leading industrialists and bankers testified. They hadn’t the foggiest notion what had gone bad. You read a transcript of that record today with amazement: that they could be so unaware. This was their business, yet they didn’t understand the operation of the economy. The only good witnesses were the college professors, who enjoyed a bad reputation in those years. No professor was supposed to know anything practical about the economy.
Studs TerkelPeople who were personally concerned about a better world, came to Washington, were drawn to it. Even though where we were going was still to be worked out. There was an elan, an optimism . . . an evangelism . . . it was an adventure.
Studs TerkelWhen I get kind of low, I’d think about a verse I learned at one time, when everybody was fighting me. It went something like this: He has no enemies, you say, My friend, the boast is poor. He who hath mingled in the fray Of duty that the brave endure Must have foes. If he has none, Small is the work he has done. He has hit no traitor on the hip, Has cast no cup from perjured lip, Has never turned the wrong to right, He’s been a coward in the fight.
Studs TerkelIt’s a strange thing. This is only thirty-five years ago—Roosevelt, Wallace. We have a new generation in business today. Successful. It’s surprising how quickly they forget the assistance their fathers got from the Government. The Farm Bureau, which I helped organize in this state, didn’t help us in ’35. They take the same position today: we don’t need the Government. I’m just as sure as I’m sitting here, we can’t do it ourselves. Individuals have too many different interests. Who baled out the land banks when they were busted in the Thirties? It was the Federal
Studs TerkelI wanted to be at my parents’ house when electricity came. It was in 1940. We’d all go around flipping the switch, to make sure it hadn’t come on yet. We didn’t want to miss it. When they finally came on, the lights just barely glowed. I remember my mother smiling. When they came on full, tears started to run down her cheeks. After a while, she said: “Oh, if we only had it when you children were growing up.” We had lots of illness. Anyone who’s never been in a family without electricity—with illness—can’ t imagine the difference.
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