The Day The Bank "Went Busted"

Jan 16, 2018, 8:15 PM

I doubt many of you are old enough to remember the worst part of the great depression. From a personal standpoint my family was among the very fortunate. My Dad was the Station Agent and telegrapher for the Seaboard Air Line RR. He had to take a pay cut but was never without a job. Living in a small town surrounded by farms, farmers shared their food with the less fortunate, both black and white.

We younger ones were aware of the high unemployment numbers. The large number of trains passing through my home town brought many "hobos" who came to our homes seeking food in exchange for a little work. We were also aware of the large number of poor in our community, But otherwise, we did not know the extent of all the financial problems facing many people.

This was before the advent of large bank chains. Most small towns across the United States had small banks that catered to the farmers and local businesses. There were two banks in my home town. Bank failures during the depression were numerous. Prices for farm products had hit rock bottom and farmers were unable to repay their loans. Even when banks foreclosed on the farms, there was no market for the farms so many banks "went busted". This was a term used in every day language. To us youngsters, "went busted" meant the windows and such were broken and glass was scattered about the building.

One day, about mid-morning, we received word at school that one of the local banks had "went busted". We younger ones were excited because we could envision broken glass all around the bank building. We did not have a school cafeteria so those of us living in town walked home for lunch. Those who rode the school buses brought their lunch in a three pound size Crisco lard pail. My walk to and from the school took me by both banks so I would get to see the bank on my at home. Many of the other students decided they wanted to see a bank that "went busted" so they too, made a special trip down to the bank. When we arrived at the bank, all of the windows were intact, no broken glass anywhere. How could a bank that "went busted" have no broken glass?

When I arrived at my home I found out the true meaning of a bank that "went busted". That was the bank where my Dad did business and his money in the bank had now vanished. The look on my Dad's face told me all I needed to know. No other explanation was needed.

**********************************************************************************************

To those of you who have parents or grand parents who lived through the great depression, I would highly recommend your asking them their impressions of that era. So many people suffered hardships that affected them throughout their lives, hardships that it is difficult for many people to comprehend.

flag link

military_tech

thumb_down

thumb_up

The Day The Bank "Went Busted"

TigerBoard POTD