FARMERS: Poor Prophets

Fortnight ago Senator Walter F. George of Georgia declared: "I am absolutely certain that a 12¢ cotton loan on the 1935 crop will be approved and announced within 36 hours." Echoed Georgia's other Senator, Richard B. Russell Jr.: "I am expecting the announcement hourly. My only regret is that the loan will not be more than 12¢ —say 14¢ or 15¢ a Ib." Undeterred by the fact that his two Georgia colleagues had been proved poor prophets, Alabama's Senator John H. Bankhead last week stoutly asserted: "I think a 12¢ loan is...

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!