Dr. Ayres's Diagnosis

Above the gabble of minor seers there last week arose the well-respected voice of Col. Leonard Porter Ayres, studious vice president of Cleveland Trust Co. Distinguishing the present world-wide depression from the domestic depressions of 1924 and 1927, Col. Ayres, writing in Collier's, predicted a turning point in the near future. "Now arises the emotion of fear," he said. "Things ,,ere [last spring] brighter looking than they were. Now they look darker than they are. This is the last phase of the depression."

...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!