President Grant “Out of the Ruins”, 1873. Published originally
by Harper’s. Pres. Grant helping female personification of
America out of the wreckage of Wall Street, saying “I am glad to
see that you are not seriously hurt. The houses in this ‘Street’
have been shaky and on false bases for a long time”. There was
an economic collapse in the U.S. called the Panic of 1873. That
recession was called The Great Depression until around 1930 when
we had what is now referred to as the Great Depression. In a
piece comparing the hardships suffered in 1873 to our current
recession, the one that begin in 2007-2008 Francois Furstenberg
wrote, In the wake of the economic crash, which has led to
soaring budget deficits, Democrats and Republicans are
negotiating “to move forward to trillions of spending cuts,” as
House Majority Leader Eric Cantor said recently. A report from
House Speaker John Boehner’s office called for “eliminating
[government] agencies and programs” and “reducing transfer
payments to households.” These ch