Photo:Lange: portrait shows Florence Thompson with several of her children in a photograph known as "Migrant Mother". The Library of Congress caption reads: "Destitute pea pickers in California. Mother of seven children. Age thirty-two. Nipomo, California."
1932 – The Dow Jones Industrial Average reaches its lowest level of the Great Depression, bottoming out at 41.22.
The depression had devastating effects in virtually every country, rich or poor. International trade plunged by half to two-thirds, as did personal income, tax revenue, prices and profits. Cities all around the world were hit hard, especially those dependent on heavy industry. Construction was virtually halted in many countries. Farming and rural areas suffered as crop prices fell by roughly 60 percent. Facing plummeting demand with few alternate sources of jobs, areas dependent on primary sector industries such as farming, mining and logging suffered the most. However, even shortly after the Wall Street Crash of 1929, optimism persisted; John D. Rockefeller said that "These are days when many are discouraged. In the 93 years of my life, depressions have come and gone. Prosperity has always returned and will again."
Today is also my brother-in-law Tom Martin's birthday. We went on a trip together to Italy three years ago this September along with my sister Julie and good friend Debbie Cornue.