Nothing to Fear

I bought Adam Cohen's new book about the FDR's 100 days in a weak moment - "The Major League Pennant Races of 1916" had just been published and I decided to reward myself with actually buying a new book. This book had just been reviewed in the New York Times, receiving very favorable comments other than what was felt to be unfair treatment of Herbert Hoover's efforts to deal with the depression.

After finishing the book last night, I realize that this is one of those books that is interesting to read, but not necessary to own. As the Times critic noted it is informative because of the picture it gives of the contributions of Roosevelt's inner circle especially Frances Perkins, Raymond Moley, Henry Wallace, Lewis Douglas, and Harry Hopkins. Of this group I had heard of all, but Douglas although I knew very little about the rest.

Wallace's part in the book focuses on his role as Secretary of Agriculture dealing with the farm crisis. Wallace went on to be FDR's vice president in 1940 and, if he head not been replaced with Truman, would have been president when Roosevelt died in 1945. As the New Deal developed Wallace became more and more liberal to the point that he was ultimately accused of Communist or leftist sympathies. This is not the picture shown by Cohen so it was a helpful correction of that portrayal.

I did know that Frances Perkins was the first female cabinet member, but was not aware of the extent to her life long struggles for the rights of working people. According to Cohen, she had a major part in pushing the reluctant Roosevelt towards massive public works projects as part of the solution to the depression. There were two things I was very surprised to learn about Roosevelt - the first was that the inclusion of FDIC insurance in the Glass Steagal banking act was done over his objection and threatened veto.

The second and more important is that the second major piece of legislation of the 100 days was a bill giving the president and, therefore, Douglas, broad powers to cut government spending. One of the enduring lessons of the New Deal and Keynesian economics was the use of government spending including deficit spending to improve bad economic times. Yet Roosevelt came to office pledged to cut government spending and for a long time supported Douglas' efforts to do just that. Had there not been a banking crisis requiring the first legislation to focus on banking, this would have been the first law proposed in the New Deal.

Cohen's major point is that the New Deal and especially the 100 days represented a major turning point in American history. Afterwards no one would argue that government had a responsibility to help citizens in need - there might be different Republican and Democratic approaches, but the premise would never be questioned. The ideal or value of rugged individualism was gone forever.

Like a number of books I have read recently, "Nothing to Fear," presents the story of a brief, but important period in American history. It, therefore, makes that history more accessible to the main stream reading public who would not endure a full length history of FDR's 12 plus years as president. Such books have less appeal to me because I prefer the more in depth approach when I am very interested in something. However, the New Deal is not one of my major interests so it may be just as well that I read this small part of the story. Now if I had only been smart enough to borrow it from the library instead of buying it and having no further use for it.