THE PRESIDENCY: Parables and Prospects

If a Washington reporter making $10,000 a year went to a banker and asked for a loan of $100,000, the banker might well demand assurance that the loan would be repaid. A room full of newshawks who had never seen $10,000 a year blinked appreciatively at this interesting statement. Franklin Roosevelt beamed at the response it got. He was drawing a fanciful parallel to describe his views on a practical matter: crop loans to U. S. farmers.

The parallel was obvious. The President had asked Congress for crop control legislation and had failed...

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!