I’ve been reading Charles/Mary Beard’s A History of the United States (published early ‘1920s?) for some perspective on how people saw U.S. history then. Came across this:
“Democrats supplemented the reserve law by the Farm Loan Act of 1916, creating federal agencies to lend money on farm mortgages at moderate rates of interest. Within a year $20.000.000 had been lent to farmers, the heaviest borrowing in ine Western and Southern states, with Texas in the lead.”
Anyone know much about this? Or if this relates to the farm troubles starting, (as I vaguely recall) about a decade later?