I am very, very sorry to report that the Market has completely crashed this morning, along with the spirit of New York. I cannot be any more relieved that Franklin and I didn't suffer terribly in this national crisis of ours. Because of his political ties, Franklin had been given advice to sell out, and I'm so thankful that we did in time. We had already been gradually losing money over the past few years, but, thankfully, we did not suffer as drastically as the many families in our neighborhood who were hit hard by the crash. I still worry for Franklin, though. He kept murmuring to himself, "16 million shares... 16 million shares..." (1) over the paper at breakfast. He said something about introducing new relief policies. I know he's eager to start "cleaning up after Hoover" as governor of New York (2). It's now late in the evening, and he's still out in meetings downtown discussing the very issue. I keep thinking to myself how lucky Franklin and I are to live in such power and wealth while many others in this city are suffering. My heart has always gone out to the poor, and I hope that our political efforts can start making a positive change in our economy. No one know for sure why the markets went into this downfall. People are saying that it started last Thursday, the 24th, when the market declined 13% (3). People are saying many different things but they all agree that it is going to take some time to get the economy back where it was. I know it is going to be a great feat but I believe that the people of this country have the will power to get through these hard times. 1. "Stocks Collapse In 16,410,030-share Day, But Rally At Close Cheers Brokers; Bankers Optimistic, To Continue Aid," The New York Times, Oct. 30, 1929, http://www.nytimes.com/lear n ing/general/onthisday/big/1029.html#article. 2. History.com, "Franklin D. Ro osevelt," http://www.history.com/topics/us-presidents/franklin-d-roosevelt. 3. "The Stock Market Crash of 1929." 2004. http://www.money-zine.com/investing/stocks/stock-market-crash-of-1929/. | Franklin is determined, though he knows it is not going to be easy, to relieve the people of this tragedy. |