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    The Forgotten Man: A New History of the Great Depression

    The Forgotten Man: A New History of the Great Depression

    3.6 141

    by Amity Shlaes


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    $9.49

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      ISBN-13: 9780061807213
    • Publisher: HarperCollins Publishers
    • Publication date: 10/13/2009
    • Sold by: HARPERCOLLINS
    • Format: eBook
    • Pages: 512
    • Sales rank: 118,783
    • File size: 3 MB

    Amity Shlaes writes a column for Forbes and serves as the chairman of the Calvin Coolidge Presidential Foundation. She is the author of the New York Times bestsellers Coolidge, The Forgotten Man, and The Greedy Hand. She chairs the jury for the Hayek Book Prize of the Manhattan Institute. She lives in Brooklyn, New York.

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    The Forgotten Man LP


    By Amity Shlaes

    HarperCollins Publishers, Inc.

    Copyright © 2007 Amity Shlaes
    All right reserved.

    ISBN: 9780061285271

    Chapter One

    The Beneficent Hand

    January 1927
    Average unemployment (year): 3.3 percent
    Dow Jones Industrial Average: 155

    Floods change the course of history, and the Flood of 1927 was no exception. When the waters of the Mississippi broke through banks and levees that spring, the disaster was enormous. A wall of water pushed down the river, covering the area where nearly a million lived. Commerce Secretary Herbert Hoover raced to Memphis and took command. Hoover talked railroads into transporting the displaced for free and carrying freight at a discount. He commandeered private outboard motors and built motorboats of plywood. He urged the people who were not yet flooded out, such as the population around the Bayou des Glaises levee, to evacuate early, then rescued with the trains those tens of thousands who had ignored his warning. He helped the Red Cross launch a fund drive; within a month the charity had already collected promises of more than $8 million, an enormous figure for the time.

    Several hundred thousand ended up in new refugee camps, many planned, right down to the latrines, by Hoover and his team. Hoover asked governors of each state to name a dictator of resources—he used the word "dictator"—and the governors complied. The dictators then managed the dysentery and the hunts for the missing along the floodwaters in theirstates hour by hour. He and the Red Cross sent the refugees to concentration camps—a phrase not so freighted then as it is today—at Vicksburg, Delta, and Natchez. One hundred thousand blankets from army warehouses were shipped to warm the refugees.

    Things felt calmer on Hoover's watch. By mid-May, though the flooding was far from over, the anecdotes began to compete in the news with the reports of tragedy. Northerners read in Time magazine that a town called Waterproof, Louisiana, had not proven waterproof, and that its switchboard operators were still working—albeit from new posts, high up above the waters, on scaffolding. Not far from Memphis, Tennessee, bootleggers had also set up shop on high, in treetops. New babies were receiving flood names—Highwater Jones, Overflow Johnson. Now from Memphis, now from Little Rock, now from the Sugar Bowl, the itinerant flood manager, Hoover, wired or broadcast his analyses of the meaning of the disaster. Such flooding, he said, "is a national problem and must be solved nationally and vigorously." But the commerce secretary also spent a lot of time reassuring. The waters might hide the land, the crops might be lost, but the mood was now hopeful. More than any single figure, Hoover was succeeding in making Americans feel that the South would be all right again.

    Hoover was already so famous that his name was a verb—to Hooverize, after the efforts in food rationing that he had led from a post as Washington's food administrator at the end of World War I. Americans recalled that he had led the humanitarian drive to feed occupied Belgium during the war. Now Hoover had outdone himself—and on a home territory whose geographic area covered more than Belgium's. What the public liked about Hoover was their sense of him as guardian, that he would protect them and what they had. If Hoover could win the presidential election the following year, then he might hold back whatever waters of adversity threatened. He was a Republican, like the sitting president, Calvin Coolidge. He would pick up where Coolidge left off—though he might update things, for everyone knew that Hoover, a mining engineer, could do amazing things with technology. One of Hoover's neatest feats—and he pulled it off right around the time of the flood—was to acquaint the public with an early version of television. "Herbert Hoover made a speech in Washington yesterday afternoon. An audience in New York heard and saw him," the New York Times wrote in awe, adding that Hoover had "annihilated" geographic distance and commenting in a headline: "Like a Photo Come to Life." It was not yet modern television but wired images and the telephone combined. Still, the idea took hold in the minds of the reporters. Under Hoover, it was easy to believe that the 1920s were merely the American beginning.

    The idea of philosophical continuity from Coolidge to Hoover seemed ironic to one man: Calvin Coolidge himself. The two were party allies. Hoover had loyally campaigned for Coolidge in 1924—indeed, had helped to defeat a Coolidge opponent in 1924 in California to clear the Republican presidential nomination for Coolidge. But Coolidge did not especially like Hoover. In the very period when the Mississippi waters were rushing, in fact, Coolidge's press spokesman had taken an explicit shot at Hoover, telling reporters that the commerce secretary would not be considered for the job opening if the secretary of state happened to retire.

    The differences between the men had started with small things. Hoover was a fly fisherman. Coolidge fished with worms. Hoover liked the microphone. Coolidge shied away from it. After a landslide presidential victory in 1924 Coolidge had sent a clerk to read aloud his State of the Union address. Hoover ignored politics for the first thirty-five years of his life. Coolidge held his first office, that of city council member in Northampton, Massachusetts, at the age of twenty-eight, and had rarely been out of government since. Hoover was a mining engineer; Coolidge was a country lawyer. Hoover was a worldly American, a blend of regions and cities, the most successful in his field of his generation. He believed in the Anglo-American gold standard, not only because it had made him rich but because he had seen firsthand how it kept the world running, like a grandfather clock. Coolidge was a pure New Englander who seemed to re-create New England wherever he went. The very concept of "overseas" was a bit vague to Coolidge. The typical Republican of his day, he supported tariffs in the belief that they strengthened the United States. His failure to recognize the consequences of his policies, both abroad and for his country, was his greatest shortcoming.



    Continues...

    Excerpted from The Forgotten Man LP by Amity Shlaes Copyright © 2007 by Amity Shlaes. Excerpted by permission.
    All rights reserved. No part of this excerpt may be reproduced or reprinted without permission in writing from the publisher.
    Excerpts are provided by Dial-A-Book Inc. solely for the personal use of visitors to this web site.

    What People are Saying About This

    Peggy Noonan

    The Forgotten Man is an epic and wholly original retelling of a dramatic and crucial era. There are many sides to the 1930’s story, and this is the one that has largely been lost to history. Thanks to Amity Shlaes, now it’s been re-found.”

    Arthur Levitt

    “I could not put this book down. Ms. Shlaes timely chronicle of a fascinating era reads like a novel and brings a new perspective on political villains and heros—few of whom turn out to be as good or bad as history would have us believe.”

    Paul Volcker

    “Amity Shlaes’s fast-paced review of the [Depression] helps enormously in putting it all in perspective.”

    George F. Will

    “Americans need what Shlaes has brilliantly supplied, a fresh appraisal of what the New Deal did and did not accomplish.”

    Mark Helprin

    The Forgotten Man offers an understanding of the era’s politics and economics that may be unprecedented in its clarity.”

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    In The Forgotten Man, Amity Shlaes, one of the nation's most-respected economic commentators, offers a striking reinterpretation of the Great Depression. She traces the mounting agony of the New Dealers and the moving stories of individual citizens who through their brave perseverance helped establish the steadfast character we recognize as American today.

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    Paul Johnson
    Amity Shlaes is among the most brilliant of the young writers who are transforming American financial journalism.
    Arthur Levitt
    I could not put this book down. Ms. Shlaes timely chronicle of a fascinating era reads like a novel and brings a new perspective on political villains and heros—few of whom turn out to be as good or bad as history would have us believe.
    George F. Will
    Americans need what Shlaes has brilliantly supplied, a fresh appraisal of what the New Deal did and did not accomplish.
    Harold Evans
    The Forgotten Man is an incisive and controversial history of the Great Depression that challenges much of the received wisdom.
    Mark Helprin
    The Forgotten Man offers an understanding of the era’s politics and economics that may be unprecedented in its clarity.
    William Kristol
    Shlaes’s account of The Great Depression goes beyond the familiar arguments of liberals and conservatives.
    Paul Volcker
    Amity Shlaes’s fast-paced review of the [Depression] helps enormously in putting it all in perspective.
    Peggy Noonan
    The Forgotten Man is an epic and wholly original retelling of a dramatic and crucial era. There are many sides to the 1930’s story, and this is the one that has largely been lost to history. Thanks to Amity Shlaes, now it’s been re-found.
    Clive Crook
    Captivating. . . . Illuminating. . . . The Forgotten Man is an engaging read and a welcome corrective to the popular view of Roosevelt and his New Deal. . . . A refreshingly critical approach to Franklin Roosevelt’s policies.
    Grover G. Norquist
    The Forgotten Man by Amity Shlaes will forever change how America understands the causes of the Depression and FDR’s policies that prolonged it for a decade.
    The American Spectator
    Entertaining, illuminating, and exceedingly fair. . . . A rich, wonderfully original, and extremely textured history of an important time.
    The Wall Street Journal
    A well-written and stimulating account of the 1930s and its often dubious orthodoxies. . . . Ms. Shlaes rightly reminds us of the harmful effect of Rooseveltian activism and class-warfare rhetoric.
    National Review
    The finest history of the Great Depression ever written. . . . Shlaes’s achievement stands out for the devastating effect of its understated prose and for its wide sweep of characters and themes. It deserves to become the preeminent revisionist history for general readers. . . . Her narrative sparkles.
    The New York Review of Books
    Amity Shlaes tells the story of the Depression in splendid detail, rich with events and personalities. . . . Many of Shlaes’s descriptions make genuinely delightful reading.

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