THE GOVERNMENT: Sabre-Rattling

Now & then it is Franklin Roosevelt's pleasure in his press conferences to play Professor of Economics. In this role in April 1937, he lectured that certain commodity prices were too high, thereby precipitated a world-wide break in commodity prices, the first signal of Depression II. Last February Professor Roosevelt again delivered himself on commodities, this time documenting his remark with a dozen charts which he didactically explained with a long wooden pointer. Last week "a White House Spokesman" (see p. 13) had some thoughts to express not only on commodities but...

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