Last May U. S. business activity ended its minor early 1940 slump, began to turn up. During the summer, as recovery quickened with the defense program, more & more businessmen began increasing their inventory commitments, began thinking about plant expansion. By Labor Day, traditional milepost of the business year, business was rolling along, gathering boom momentum. A few chronic laggards remained behind. One was oil, the victim of a production war between the States. Another was cotton, practically shorn of its export markets, hopelessly overproduced for the market left to it. Another was corn, also export-dependent, whose only records these...
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