Financial Crash Impacts a Tiny Island

 _By Tiffany Amber Stockton

There has been a lot of talk of financial struggle and hardships lately, what with the ever-rising inflation and prices nearly double what they were 2-3 years ago. My family has had to make some significant changes to preserve as much of those hard-earned dollars as possible, and I'm sure a lot of you who are reading this have had to do the same.

Although it's not as bad as the Great Depression, there have been definite ways my local community has come together to help each other through these tough times, sharing the burden and lightening the overall load. That's what communities should do.

Island Life During the Great Depression

The Great Depression was the longest and most devastating economic downturn of the 20th century. Spanning much of the 1930s, it shook not only the United States but the entire world.

The crisis began in the U.S. after the stock market crash of October 29, 1929—“Black Tuesday.” Within just three years, global GDP dropped by an estimated 15%. By comparison, the so-called Great Recession of 2008–2009 saw worldwide GDP fall by less than 1%. The contrast is staggering, yet many today mistakenly believe the two were on the same level.

Unemployment in the U.S. soared to nearly 25%. Personal income, tax revenues, profits, and prices all collapsed. With jobs scarce, families had to adapt quickly, often leaning on creativity, hard work, and each other to survive.

Island Ingenuity in Hard Times

On Chincoteague Island, poultry farming grew rapidly during these years. Families raised chickens not only to feed themselves but also as a source of trade and income. By 1950, the island was producing more than one million birds each year.

This was also when two devastating storms forever changed the landscape of both Chincoteague and Assateague Island. With 18 inches of flooding and the highest tide ever reported, a new inlet was carved out of the barrier island just south of Ocean City, Maryland, destroying a railroad bridge and dragging railcars out into the ocean.

Wages remained mostly steady, but many employers couldn’t keep as many workers. That meant every able family member pitched in. My grandfather was only 13 when he stood beside his father behind a barber’s chair, cutting hair to help feed his nine brothers and sisters. Customers often paid with food or by bartering services when money was scarce. Shellfish were a common exchange of goods for service on Chincoteague.

Harvesting the Land and Sea

Oystering, clamming, fishing, and crabbing weren’t just pastimes on Chincoteague, though. They were lifelines. The bounty of the sea was sold, eaten, or exchanged for other necessities. Hunting ducks and waterfowl also supplemented the food supply, and handmade wooden decoys became a useful and profitable tool. Those decoys remain cherished collectibles from the island today, and you can see them in several shops on Main and Maddox Streets.

Clothing and shoes were patched and repurposed until they could no longer be worn. My great-grandfather even cut old tires into strips and tied them to the bottoms of his children’s shoes to reinforce worn-through soles. Nothing went to waste.

Lessons We Can Still Learn

Perhaps the greatest lesson from the Great Depression is that hardship often drives people closer together. On Chincoteague, bartering, skill-sharing, and mutual support were the rule. These days, it seems to be the exception and a rather foreign concept. I'd love to see America return to this.

Those who endured learned to live simply, save diligently, and give generously. Many continued those frugal habits for life, building enough wealth to enjoy their retirement and even leave inheritances for their families.

When I look around today, I can’t help but notice the contrast. Even after paring down and simplifying our home, we still live with far more than ten families combined might have had during the Depression. It’s rather humbling, but it also reminds me to live with gratitude rather than excess.

NOW IT'S YOUR TURN:

* If you had to trade your skills or services instead of using money, what would you offer?

* What’s one “make-do” or frugal practice you learned from your parents or grandparents?

* When life gets hard, do you tend to lean on community, or try to go it alone?

Leave answers to these questions or any comments on the post below.

** This note is for our email readers. Please do not reply via email with any comments. View the blog online and scroll down to the comments section.

Come back on the 9th of each month for my next foray into historical tidbits to share.

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BIO

Tiffany Amber Stockton has embellished stories since childhood, thanks to a very active imagination and notations of talking entirely too much. Honing those skills led her to careers as an award-winning and best-selling author and speaker, while also working as a professional copywriter/copyeditor. She loves to share life-changing products and ideas with others to help them just get rooted and live a life of purpose.

Currently, she lives with her husband and fellow author, Stuart Vaughn Stockton, along with their two children, two dogs, and five cats in southeastern Kentucky. In her 20+ years as a professional writer, she has sold twenty-six (26) books so far and has agent representation with Tamela Murray of the Steve Laube Agency. You can find her on Facebook and GoodReads.