Because in the bank crash of 32 there wasn't a program to buy up banks. Banks went out of business, and depositors lost all or most of their money. One result was that GM had to start a bank - the National Bank of Detroit, so that employees had a place to cash paychecks. GM had been paying employees in cash. There were only a couple of banks in Michigan that survived the depression. Prior to the crash, Michigan had more banking activity than Chicogo, but after the crash, Detroit never caught up to the Windy city. My Grandfather told me that when Wall street fell, nobody seemed to care. But when the banks closed, they thought the world was ending.
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Today's Featured Article - Old Time Threshing - by Anthony West. A lovely harvest evening late September 1947, I was a school boy, like all school boys I loved harvest time. The golden corn ripens well and early, the stoking, stacking,.... the drawing in with the tractors and trailers and a few buck rakes thrown in, and possibly a heavy horse. It would be a great day for the collies and the terrier dogs, rats and mice would be at the bottom of the stacks so the dogs, would have a busy time hunting and killing, all the corn was gathered and ricked in what we c
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