Way before the infamous stock market crash of 1929 that sent the nation into the Great Depression, there were a lot of indicators before hand that the economy was in peril. The Lassen Mail’s editorial of February 8, 1928 provides and interesting glimpse of conditions and how Susanville and Lassen County were in better shape than a lot of other areas.
”Despite the optimism of the booster people, business conditions in the United States are very bad at the present time. The unhealthy commercial condition is not confined to one portion of the country. North, south, east and west are all undergoing a period of depression.
”The depression is not experienced in any single line of industry—all classes are suffering from it. Manufacturing firms complain of lack of orders and say that the orders they do receive are mainly of the credit variety.
”The situation is reflected in the stock and. bond markets. The New York Stock Exchange bottom is dropping out of the market in many lines. General Motors has gone to a new low level and steel has fallen to lowest point in years. Railroads and manufacturing companies are showing lesser profits than in former years. Oil companies, with large surplus production, are showing lesser earnings and in some cases a loss. The entire country is encountering a wave of depression.
“In sharp contrast to the situation most of the rest of the country is the business outlook of Susanville and Lassen County. While conditions are not as prosperous as in the good time of the year there is commercial slump here. Where business firms in other parts of the country are going bankrupt, the merchants of Lassen County are still going on and there is no great fear that any of them will not have a prosperous year in 1928.
”While Lassen County does not enjoy the reputation of being the most populous county in California, nor has it the greatest amount of wealth, it is far better off at all times than many of the so-called wealthy counties. Prosperity in Lassen County is unbroken and while we have no great “booms” we have no “panics” and are carrying on in the same way when the “boom” counties are wondering if they will survive the cold, cold winter.”