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 - Grain Threshing in the Early 40's - by Pat Browning. The setting is rural Wisconsin, halfway between East Troy and Elkhorn, on Hodunk Road, our nation was at war, and I was 6, 7 and 8 years old. George was our "threshing neighbor." He was the one with the threshing machine, a JI Case on steel wheels, and he pulled it to our farm with a JI Case standard tractor also on steel. In those days, steel wheeled implements were common. The roads were general gravel, so the lugs cutting into them wasn't a problem. George would set up the thresher, s
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