Word: credited
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Dates: during 1920-1929
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...traveling through the flooded region, reporting to his newspaper conditions as he has observed them. His has been a story of destitute thousands forming shamefaced breadlines; of stagnant waters, breeding places of countless mosquitoes; of a lost cotton crop and a lost corn crop; of the collapse of the credit system hastily thrown together to relieve the stricken area. Mr. Speers writes as no sensation monger and the Times, though Democratic in policy, has never been an extremist organ, has even opposed the calling of a special flood session of Congress. Yet Mr. Speers has pictured widespread desolation made even...
Loans. Meanwhile the credit-system by which the farmers were to be loaned money enough for rehabilitation purposes has apparently existed chiefly on paper. Reported Mr. Speers: "One hears on all sides the complaint that the recently created farm credit organizations will not work. The periods of the loans, it is asserted, are too short and the interest rates too high. As a matter of fact, it can be said on the very highest authority that less than a dozen of the thousands made destitute in Louisiana have applied to this agency for relief. In Arkansas the number is said...
...loans presuppose security and the only security the farmers can offer is a "phantom crop." "The land owners are as hard hit almost as the tenants and their credit has received a stunning blow. Furthermore, every merchant, every bank holds the paper of hundreds of farmers whose assets have been lost. ... To get money the farmer must give security and in the case of those who need it most the security is either in or on the way to the Gulf of Mexico...
...Ford's statement is very greatly belated. It would have been much more to his credit had it been written five years ago." Julius Rosenwald of Sears, Roebuck...
Edsel Ford. To Edsel Ford, only child of Henry Ford, and President of the Ford Motor Co., the Chicago Journal of Commerce imputed credit for Henry Ford's face-about: "It seems reasonable to suspect that Edsel Ford has had a hand in these evolutions and revolutions. Edsel has given a general impression of steadiness, of balance. In this respect he has been much unlike his brilliant father. Ordinarily a poor man, grown rich, must take pains so that his son shall not be spoiled. In the case of the Fords the procedure has been reversed. . . . Meanwhile Edsel Ford, growing...