Alfred du Pont poured money into the economy in Jacksonville, which provided relief during the Great Depression. His efforts also created many jobs for the unemployed. After his death in 1935, a trust was created in his name. This trust protected the assets he already had, and it also provided for the creation of a company that employed many.
In the year 1926, Alfred du Pont settled in Jacksonville. He initially made investments in real...
Alfred du Pont poured money into the economy in Jacksonville, which provided relief during the Great Depression. His efforts also created many jobs for the unemployed. After his death in 1935, a trust was created in his name. This trust protected the assets he already had, and it also provided for the creation of a company that employed many.
In the year 1926, Alfred du Pont settled in Jacksonville. He initially made investments in real estate. Within a few years, he switched his focus to banks. In the year 1929, there was a bank run at the Florida National Bank. Du Pont opened a bank account at the Florida National and deposited millions of dollars. This kept the bank afloat during the bank run, protecting the money of many people. He eventually became more involved with the bank.
Knowing that unemployment was a growing problem in the city of Jacksonville, du Pont "established a private public works program." Jobs that were part of the program included street sweepers and park maintenance workers. Workers were paid a minimum wage for their work by du Pont.
A few years after du Pont died in 1935, the trust in his name established the St. Joe Paper Company, which created many jobs. By this time, the country was still feeling the impact of the Depression.
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