JF Ptak Science Books Post 2317 History of Fear series
What this toughly bleak political art is referencing was the gloom and doom of the corruption of the economy, with fortunes and family savings lost, of despondencies, of mass failure. It appeared in The Nation for the issue of March 8, 1933, the first issue printed in the newly inaugurated Roosevelt presidency, four days after the famous inaugural "The only thing we have to fear is fear itself" speech. [See here for text of the speech as well as audio.]
So in the first 1100 days or so of the Depression, there was plenty of fear to fear, not the least of which was booming unemployment. The average rate of unemployment for this period went from 3.2% in 1929 to:1930: 8.9%;1931: 16.3%; 1932: 24.1%; 1933: 24.9%; 1934: 21.7%; 1935: 20.1%; 1936: 16.9%; 1937: 14.3%; 1938: 19.0%; 1939: 17.2%.
There was also the general malaise and partial breakdown of the production of the country as a whole, as measured by the U.S. Gross Domestic Product, which (in current dollars) looked like a retracting landscape, with the pre-crash 1929 figures being $103.6 billion, followed by 1931 at $76.5, 1932 at $58.7, 1933 ($56.4), 1934 ($66 billion and the beginning of the Roosevelt era and through 1937 a period of fantastic recovery and growth); 1935 at $73.3, 1936 at $83.8, 1937 at $91.9,1938 at $86.1, 1939 at $92.1, 1940 at $101 (which was the year that mobilization began in earnest, with huge/record spikes in production); 1941 at $126.7, 1943 at $198.6, 1944 at $219.8, 1945 at $223.
(And just because I have the figures at hand, the amounts of government spending during the Hoover years were 1929: $9.4 billion; 1930: $10; 1931: $9.9;1932: $8.7; then under Roosevelt in 1933: $8.7 billion: 1934: $10.5; 1935: $10.9; 1936: $13.1;1937: $12.8; 1938: $13.8;1939: $14.8, followed by the war years and buildup, which in itself was explosive growth 1940: $15.0 billion;1941: $26.5;1942: $62.7;1943: $94.8;1944: $105.3; and 1945: $93. The average government spending as a percentage of GDP under Roosevelt increased to 15% in the 1933-1939 period from 11% under Hoover; during the mobilization the average expanded to about 35%. )
So, the social commentary by the artist was really a slapping announcement to all readers that the crash of 1929 was still crashing, that the economy was still failing, and that things were getting worse. Welcome to Washington, Mr. Roosevelt.