CROPS: $40,000,000 Bail-Out

Not one leaf of flue-cured tobacco has sold this week in all North or South Carolina. Nor last week. Nor the week before. Tens of thousands of Carolina farmers could get no ready money. It was like the Midwest in drought time. Banks could not collect fertilizer loans or mortgage payments. Storekeepers were passing out pints of kerosene on credit.

Tobacco's bad year followed a good year. Last December, when tobacco growers were called to a crop-control referendum, they had just finished disposing of a big (800-million-pound) crop at the satisfying average price of 22¢ per pound. They sneered at...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

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