John E. Buckingham was
born in Paintsville, Kentucky, in 1874 and rose to power as a former student
and loyal assistant to John C. C. Mayo, the individual who is generally given
most credit for arranging the purchase, development, and eventual decline of
the coal fields and the coal industry in the entire Big Sandy River
Valley. Buckingham served loyally as the
most obvious right hand man to Mayo beginning shortly after Mayo began buying
and selling thousands of acres of mineral rights in Kentucky under the
notorious broad form deeds. Buckingham
was eventually listed as the president, CEO, or chief operating officer of a
half dozen or so small banks in the coal towns, including Wayland, Blackey, Hi
Hat, Paintsville, and other coal camp towns in the eastern region of
Kentucky. During the Great Depression,
all of those banks except the one in Paintsville went bankrupt and were
liquidated under the National Recovery Act.
Yet, amazingly, Buckingham was elected to both the presidency of the
Kentucky Bankers Association and the office of State Treasurer of
Kentucky. He had a street named after
him in the coal town of Van Lear, Kentucky, which is most famous for having
been the hometown of both Loretta Lynn and her sister, Crystal Gale. Buckingham Mountain, which is located on the
ridge which separates Right Beaver Creek from Left Beaver Creek, is also named
for John E. Buckingham.
Buckingham wrote an
autobiography which is entitled “The Autobiography of John E. Buckingham, Appalachian
Financier,”
and was originally published under the
auspices of a vanity press during Buckingham’s lifetime and was eventually
republished with a second vanity press, Gateway Press, Incorporated, in 2008. The book was rereleased in 2008 from Gateway
Press with the names of Robert M. Conley as editor and John Buckingham Browning
as “consultant”. Browning is the
grandson and namesake of John E. Buckingham.
The book does give some first-person insight into the life and
accomplishments of John C. C. Mayo and John E. Buckingham. But any reader should approach it with a
jaundiced eye. Other than the
Paintsville bank, which survived the depression by being merged into another
institution, Buckingham did not mention by name a single one of the other banks
which collapsed during the depression.
He also only used the term “depression” only once in the book and always
referred to that horrible period in American history by the somewhat bleached
out misnomer of “the panic of 1929”.
Buckingham also discusses several other economic failures in coal
mining, lumbering, oil, and gas in terms which are clearly intended to portray
both himself and John C. C. Mayo in charitable terms regardless of the topic.
The book was obviously a major attempt to self-aggrandize in an apparent
attempt to leave a lasting favorable impression of the author on his
readership. The book was also only very superficially edited and is replete with errors of spelling, grammar, and syntax.
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