I was born at the very end of the Great Depression, just a few months before the beginning of World War II. For that reason, I have no personal memories of the Depression.
What I learned early in my life about it, I learned from my parents. The things mom and dad experienced shaped the rest of their lives.
They lived according to the lessons they learned, and the economic rules that they fashioned for themselves based on their Depression-era experiences. And they followed those rules all their lives, even when they moved into the upper-middle class.
I've lived my life consistently with the lessons which my parents formulated and taught me based on their Depression-era experiences. And I have tried to pass those lessons and those values on to my daughter.
I believe that the lessons learned during the Depression will always be valuable to Americans, and must not be lost as those who lived through the Great Depression die off.
To that end, I began gathering "Memories of the Great Depression" some years ago, and to record them before they are lost forever. Here are a few of the things I learned from dad and mom.
Dad always said that the Depression was largely caused when people bought stocks on 10 percent margin ("10 percent down"), in the hope of making a killing in the ever-rising stock market. When it crashed, and they received their margin calls to pay the 90 percent balance owing on the stocks, they couldn’t.
Mom's corollary of that rule was, “Don’t buy anything on time. Pay cash.” I can remember mom saving pennies if she wanted something. She wanted a new radio, she bought it, only when she had saved enough pennies.
With the exception of buying a house in 1948 and taking a mortgage, I never knew mom or dad to buy anything on credit. If they bought a TV set, or golf clubs or a new car, they paid cash.
Obligating themselves to pay a finance charge, was something they adamantly refused to do. And they repeatedly warned me of the dangers and the added expense of paying a finance charge.
They all too clearly recalled what had happened when those who had bought stock faced a call for cash that they didn’t have. And the lesson they taught, stuck. Except for my first home, I have always paid cash.
Lesson 1: Pay cash for what you buy.
Don't buy on time; don't pay interest. I can clearly recall mom during the war years darning socks when they developed holes. Mom bought good food, and she cooked good meals. But we always ate up the leftovers; they weren't thrown away. There was nothing left to send to" the starving kids in China."
Lesson 2: Waste not, want not.
Mom and her siblings took care of each other all their lives. When her mother died, leaving 11 children, mom was only 12. Her older sisters raised mom and her younger sisters. Then the younger sisters raised their younger brothers.
When mom's younger brother's wife died leaving him with three children, his sisters took the children and raised them as their own. When another of my uncles needed funding for his business, the family provided funds. If a brother needed financial help, he got it.
When my mother needed physical help in her old age, two of her younger brothers, whom she had helped to raise, ferried her to doctor's appointments, and ran errands for her. These were proud people. They worked hard and earned comfortable lives. The thought of “living on welfare” would have been anathema to all of them.
Lesson 3: Families stick together and care for each other.
Mom and dad had one more rule: "Always tell the truth. If you lie, you will have to tell more lies to try and cover up your first lie." Mom's friends always said, "Don't ask for her opinion unless you really want it!"
Don't buy on time; don't pay interest. I can clearly recall mom during the war years darning socks when they developed holes. Mom bought good food, and she cooked good meals. But we always ate up the leftovers; they weren't thrown away. There was nothing left to send to" the starving kids in China."
Lesson 2: Waste not, want not.
Mom and her siblings took care of each other all their lives. When her mother died, leaving 11 children, mom was only 12. Her older sisters raised mom and her younger sisters. Then the younger sisters raised their younger brothers.
When mom's younger brother's wife died leaving him with three children, his sisters took the children and raised them as their own. When another of my uncles needed funding for his business, the family provided funds. If a brother needed financial help, he got it.
When my mother needed physical help in her old age, two of her younger brothers, whom she had helped to raise, ferried her to doctor's appointments, and ran errands for her. These were proud people. They worked hard and earned comfortable lives. The thought of “living on welfare” would have been anathema to all of them.
Lesson 3: Families stick together and care for each other.
Mom and dad had one more rule: "Always tell the truth. If you lie, you will have to tell more lies to try and cover up your first lie." Mom's friends always said, "Don't ask for her opinion unless you really want it!"
Lesson 4: Always tell the truth.
I do not want to see these stories and values die when the people who lived through the Great Depression all finally die. By the time I hit upon the idea of doing a book to save memories of thet Depression, dad and mom were dead. I began gathering stories some years ago, but I'd like about 10 more.
I do not want to see these stories and values die when the people who lived through the Great Depression all finally die. By the time I hit upon the idea of doing a book to save memories of thet Depression, dad and mom were dead. I began gathering stories some years ago, but I'd like about 10 more.
If you have a good story that you are willing to share with me and let me use, please send it to pelagius17@gmail.com
Posted: QCOline.com March 28, 2019
Copyright 2019, John Donald O'Shea
Posted: QCOline.com March 28, 2019
Copyright 2019, John Donald O'Shea