Last June Alabama's desk-farmer, Senator John H. Bankhead, headed the Congressional bloc that shoved through a law forcing the Government to make every effort to buy cotton, wheat and other farm products at 100% of parity.* Cotton prices had soared over 100% since 1939, but John Bankhead wanted more: specifically, he wanted cotton prices to rise nearly 1ยข more a pound. Because cotton and wheat production have been consistently greater than domestic consumption, the law of supply & demand had long worked against Bankhead's dream of top prices for these commodities. Futures...
To continue reading:
or
Log-In
