Depression History

On December 7th, 1955, Kitty McInerney lay dying in a New York hospital bed. The 47-year-old Irish immigrant, suffering from severe toxemia, was preparing for an emergency c-section to give birth to her 17th child. As a Catholic priest performed her last rites, Kitty succumbed to a rare moment of quiet reflection.

Shortly after arriving in the White House in early 1933, Franklin Roosevelt took the United States off the gold standard. His opponents thought his decision unwise at best and ruinous at worst. But they could not have been more wrong. With The Money Makers, Eric Rauchway tells the absorbing story of how FDR and his advisors pulled the levers of monetary policy to save the domestic economy and propel the United States to unprecedented prosperity and superpower status.

This particular volume (Volume One) begins with the period in the early 1600s when two very different English societies were established in the New World, one in Virginia and one in New England. The Virginia society simply re-created the rigidly class-based feudal society of the times. The New England society was a most unusual democracy of social equals, covenanted to live under God's—not man's—personal rule. These two American social types would find themselves in rather constant struggle....