Pride, Prejudice, and Politics: Roosevelt Versus Recovery, 1933-1938

By Gary Dean Best | Go to book overview

CHAPTER 14
The Second Roosevelt Depression, III, 1939

REACTIONS TO THE ELECTION

Arthur Krock pronounced the widely held judgment on the 1938 election results when he wrote:

One-party government, under the domination of the President as leader of that party--a domination often exercised through young doctrinaires who never faced a poll--was emphatically abolished after trial by the voters of the United States last Tuesday. The average taxpayers who form what is loosely called the "middle class," shifted their allegiance from the President and the post-1936 New Deal to accomplish this. 1

Generally, the election results were viewed as a defeat for Roosevelt and the New Deal rather than a victory for the Republicans. 2 As the Omaha World- Herald put it: "It was not the Republican Party that won the victories, rather it was the Administration that suffered defeats. Millions who had supported Roosevelt and his party turned to Republican candidates because there was no other available way of making evident their distrust and alarm."3

Viewed in the context of the war that Roosevelt had been waging against business since 1933, the defeat of the New Deal in 1938 was clearly a victory for business. The U.S. Chamber of Commerce Washington Review wrote:

As business sees it, this expression of public sentiment indicates a loss of faith in planned economy and vast public spending as a means of restoring prosperity; an increasing antipathy toward coercive and compulsory legislation; and a desire to remove some of

-203-

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Pride, Prejudice, and Politics: Roosevelt Versus Recovery, 1933-1938
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • Preface ix
  • Introduction xiii
  • Chapter 1 Dramatis Personae 1
  • Chapter 2 New Faces and New Fears 19
  • Chapter 3 Rising Criticism 37
  • Chapter 4 Delaying Recovery 55
  • Chapter 5 The First Roosevelt Depression, 1934 69
  • Chapter 6 The Supreme Court Rules 85
  • Chapter 7 An Air of Unreality 101
  • Chapter 8 Fueling a Boom 117
  • Chapter 9 The Election and Boom of 1936 131
  • Chapter 10 Megalomania and Mindlessness 143
  • Chapter 11 The Road to the Crash 157
  • Chapter 12 The Second Roosevelt Depression, I, 1937 175
  • Chapter 13 The Second Roosevelt Depression, II, 1938 189
  • Chapter 14 The Second Roosevelt Depression, III, 1939 203
  • Conclusion 217
  • Notes 225
  • Bibliography 255
  • Index 261
  • About the Author 269
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