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Depression Spending

Just got back from a two-day trip to Washington, DC. I made sure I went to tour the Library of Congress.  A must see is the reincarnation of Jefferson’s library as he wished it to be organized (in a circle so that he could see all of his apx 6,500 books at once). In any case, on the first floor in the great hall, you can see a Gutenberg Bible (one of the originals printed by the first Westerner to employ moveable type).

I decided to ask the tour guide a question – how did “we” come to acquire this priceless relic? She proudly responded that during the deepening Depression, the U.S. Congress authorized the purchase of the bible from a German monastary for the tidy sum of $1.5 million (about $21 million in today’s) dollars. She called it remarkable foresight. This from a Congress that was soon to pass Smoot-Hawley, and permit the slaughter of millions of livestock in order to improve economic conditions during this time.

What is my point? Actually, I do not have one. Spending two days in DC can do that to people.

One Response to “Depression Spending”

  1. […] Original post:  Depression Spending | The Unbroken Window […]

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