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A Century of Progress %u2022 Vintage PostcardsA Second World%u2019s Fair for Chicago (Continued)Opening Day parade of the Century of Progress Exposition o May 27, 1933.and flappers%u2014and the country%u2019s economy was booming. When the appropriate paperwork had been completed nine months after incorporation, on Monday the 28th of October, the trustees authorized a $10-million bond issue. The very next day, the stock market crashed. Known as Black Tuesday, it marked the beginning of the Great Depression.Obviously, this was not an auspicious time to finance a large%u2014and in some minds frivolous%u2014enterprise. Fortuitously, half the money was guaranteed before the economy turned south, but that left $5 million still to be raised. While other World Fairs had relied on state and federal funds, this one relied solely on subscriptions from individuals (mostly locals) who knew they would be repaid only if the Fair succeeded. Despite the dismal economy, the Executive Committee was committed, and the plans moved forward. For a location, they chose a 31/2 mile strip of reclaimed land along Lake Michigan%u2019s shore. It%u2019s 427 empty acres lay between 12th and 39th streets in an area known as the Near South Side. The design of the upcoming exposition was placed in the hands of an Architectural Commission led by Paul Cret and Raymond Hood, and staffed by a subcommittee of several local architects. Frank Lloyd Wright, one of Chicago%u2019s most famous architects, was explicitly excluded from the Commission because of his consistent inability to work well with others. Despite this, on his own, he created three conceptual schemes for the Fair. Once the Fair was open, Wright, to no one%u2019s surprise, complained about its mix of Art Deco buildings with other styles, commenting, %u201cWhere they are new, they are not good and where they are good, they are not new.%u201dOpening DayAs it turned out, A Century of Progress opened during the very bleakest period of the Depression, on May 27, 1933. It was hoped President Franklin D. Roosevelt would officiate, but his schedule prevented him from being at the Fair until a much later date. In his place, he sent Postmaster General James A. Farley to preside over the Opening Ceremony before a crowd of 120,000 spectators in Soldier Field. The long anticipated day%u2019s festivities were divided into two portions. In the morning, there was a parade followed by speeches.