Word: incubus
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Dates: during 1930-1939
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Through two planting seasons the Farm Board has campaigned against the surplus incubus, not only by Legge shows but by circulars to farmers, advertisements in the rural Press, harangues over the radio. Last week James Clifton Stone, new chairman of the Federal Farm Board, made his first excursion to the midWest to continue the "Legge shows," shout again the gospel of crop reduction. He addressed wheat co-operatives in Hutchinson, Kan. and Enid, Okla. As best he could he reiterated Mr. Legge's arguments, used the same threats, the same prayers...
...from the pulpit something solid and of enduring value. It has sought to free itself from the clutches of pure sentimentality and heroics. And now the new decade is destined to build a finer educational and ethical structure upon the sturdy foundations from which has been removed the incubus of the inglorious edifice inherited from our elders. The destructive criticism of the decadent naturalists is ceding to the constructive enthusiasm of more enlightened men undepressed by the post-war failure of idealism...
...than the Farm Board as a price-fixer. The visible world supply of wheat in May was 470 million bu., of which almost half (225,000,000 bu.) was held in the U. S. The Farm Board had advocated this holdover-from-1929 policy which now hung like an incubus over 1930 prices. The U. S. Department of Agriculture last week estimated the 1930 winter wheat crop at 532 million bu.-46 million bu. below last year's harvest of the same grain. But even this apparent cut did not materially aid prices. The spring wheat crop remained...
...Incubus. But the Farm Board and its two wheat-dealing agencies, Farmers National Grain Corp. and Grain Stabilization Corp., were much less interested in the 1930 crop which they have promised not to touch on the market, than they were in the great 1929 crop, an incubus under which they still labored. The two grain corporations, interlocking in personnel and activity, had bought in some 45 or 50 million bushels of wheat, of which 15 million were futures for May delivery (TIME. March 10). Wheat bins were already choked in Chicago and Minneapolis. Delivery date had almost come. Chairman Legge...