LOANS TO AMERICAN FARMERS CALLED QUACK REMEDY
Marion, Ohio (JFK+50) On December 18, 1920, President-elect Warren G. Harding was advised by Dr. Nicholas Murray Butler*, president of Columbia University, that "legislation designed to stabilize the price of farm products...is no more than a 'quack' remedy."
Dr. Butler opposed a variety of proposals to lend money to American farmers, supporting instead the idea of "wider markets."
Dr. Butler said...
"What ails the American farmers...cannot be remedied by acts of Congress, but only by restoring Europe."
*Nicholas Murray Butler (1862-1947) was born in Elizabeth, NJ & earned his BS, MS & PhD at Columbia. TR called him 'Nicholas Miraculous'.. NMB was president of New York School for Training Teachers and president of Columbia University (1902-1945).
SOURCE
"Farmer Loan Quack Remedy, Harding Told," by Samuel W. Bell, The Washington Herald, December 19, 1920, Chronicling America, Library of Congress, www.loc.gov/
