As is its longtime custom during the first week of every year, the Press last week printed a batch of 1935 prophecies from U. S. Businessmen. Newsreaders with memories long enough to recall similar predictions made on New Year's Day 1930 or 1931 or 1932 scanned last week's output with thoughtful amusement.
'The peak of the Depression passed 30 days ago," said James Augustine Farrell of U. S. Steel Corp. in January 1931. Same week Owen D. Young declared that the "dead centre" of Depression had come & gone.
Last week there were 5,000,000 heads-of-families on the dole.
In 1931 Secretary of Commerce...