Groping about in what dramatic Dr. Stephen Osusky of Czechoslovakia called "the most stifling fog of pessimism I have ever breathed," statesmen of the League of Nations found it desperately difficult last week to lay hold of any useful plan for dealing with present worldwide Depression.

"The position of at least four of the agricultural exporting countries of Europe is absolutely tragic!" said Rumanian Minister of Commerce Virgil Madgearu. He pictured Rumanian farmers as "crushed" by the stupendous volumes of foodstuffs offered in World markets by North and...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

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