I cannot be sure what is going on with the sails on the three boats depicted below, but the composition, style and colors certainly speak to a modern sensibility for 1933. Great clouds, though darkening. Is it an allegory for the deepening Great Depression? I'll let the reader decide.
The sail numbers on these boats may not be accurate, but if they are, these would be US 12 Lea, a 1922 Sherman Hoyt design, US 7 Ginger, ex. Bally Hoo, a 1922 Hannan design, and US 13 Nanwa, a 1922 design by Wayte. I cannot find a reference to the artist and know nothing more than perhaps they were fighting it out 11 years prior for a spot in the 1922 British American team races.