On Nov. 21, 1931, when The Union Democrat ran the pre-Thanksgiving editorial below, debate over whether the stock market crash of 1929 had spurred a slump, a recession or a depression had long since been resolved. The Great Depression was grinding on the nation in earnest, and the Mother Lode was hardly immune.
Among “Notes and Comments” on the paper’s editorial page:
• If you want to know whether there is a depression or not, try borrowing $100.
• Famous last words: The depression is only psychological.