Thousands of college graduates listened during the past fortnight to scores of commencement day speeches in which the predominant text was the New Deal. Rarely before had campus bigwigs found so handy a theme for their intellectual springboard. Most of them pointed with pride to President Roosevelt's program, lauded his use of college professors, wound up on a lofty note about public service.

But to appraise the New Deal fairly & squarely was no easy matter. Members of the Administration, in great demand as graduation speakers, were biased. Most tycoons were almost as...

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 TIME.com

Learn more about the benefits of being a TIME subscriber

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