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No seed money

Compiled by Wilbur Bush

In 1932, under the law creating the Reconstruction Finance Corporation, the government had loaned the farmers money to purchase seed, and the loan could be paid back when the crops were harvested. In Missouri alone, over 9,000 farmers had borrowed over a million dollars. Now the crop had been harvested and only a little over 50% of it had been paid back. The average amount loaned

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