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As I peruse the
pages of the Advertiser for 1936 and 1937 this reporter is reminded
that the saying concerning history is indeed true. Hopefully you,
reader, will forgive me for reporting a story once in a great while
that contains a serious vein of influence not only as it pertains to
our community, but as to our place in the larger community, our
nation. A point in fact is the following:
"If the flexibility and expandability provided by commercial
banking credit were eliminated, Dr. Moulton declared
(President of the Brookings Institution stated in a speech before
the Graduate School of Banking) It is scarcely too much to say that
the economic system itself would shortly be destroyed."
All we need to do is watch TV or read a newspaper today and we will
hear that exact story from the pundits and 'so called' experts!
1936-37 was a period much like today with the exception the U. S.
was trying to recover from the "Great Depression." Today we are
trying to recover from a housing crisis. In 1937 the Advertiser
reported on September 17 that the receiver of the Alderson National
Bank was going to petition the court to have the building re-sold
(The building, along with other properties had been sold at auction
months earlier resulting from the bank failure). The reason for the
petition was that Robert B. Lobban had bid $7,800 for the property
at auction and was the high bidder; however was determined that L.
O. McClung had offered $9,000 for the building prior to the auction
causing the Comptroller of the Currency refusing to confirm the sale
to Lobban.
Today, we are reeling from a housing crisis with massive
foreclosures. In 1936-37 the story was the same resulting from the
depression. There are those who would opt that we are headed toward
the same fate of a depression; however that subject is much too deep
to explore on these pages. The good news reader, is that the lessons
learned during the depression resulted in massive changes in the
banking system that makes a repeat of those days highly unlikely. As
a tongue in cheek comment we, in West Virginia are not usually
bothered by news of a depression, because we never recovered from
the last one, but that is for another day.
There are other true sayings that should make us feel better. "Life
goes On." Now who among us has never heard that! Well, it was true
in 1926-37 as it is today as evidenced by this:
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Alderson
Advertiser
September 24, 1937 |
"Miss Mary
Bess Caraway, daughter of Mr. and Mrs. A. J. Caraway of Alderson,
has been appointed a princess at the court of Queen Sylvia VIII at
the eighth annual Mountain State Forest Festival at Elkins on Oct.,
7th, 8th, and 9th. She was appointed by Senator Frank W. Tuckwiller."
For those of you who may not recognize Mary Bess Caraway, you may
remember Mary Bess Mitchell, who, along with husband "Ike" was very
influential in the education of most, if not all, of us who attended
Alderson schools during the 1950-60 era.
During the same week of September, 1937 The Russell Theatre,
complete with "Western Electric Sound Systems" was showing several
new films. Friday, Sept., 24 Will Rogers in 'David Harum.";
Saturday, 'Charlie Chan at the Olympics" will be featured. Now
really - how much of a coincidence is that! Just as the Olympics are
concluding in 2008 we are reminded of this film. De-ja-vu all over
again! On the 26th and 27 we will be entertained by George Brent,
and Beverly Roberts in 'God's Country and the Woman'; then on Tues
and Wednesday Ricardo Cortez and Gail Patrick in 'Her husband Lies.'
See, I told you in the beginning of this article Some things never
change. And finally on September 30 Ralph Bellamy and Betty Furness
will star in 'It Can't Last Forever.' That is much like this article
- I'll bet you thought that if I didn't shut up that it might last
forever. Thanks for reading.
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