TIME
Above the gabble of minor seers there last week arose the well-respected voice of Col. Leonard Porter Ayres, studious vice president of Cleveland Trust Co. Distinguishing the present world-wide depression from the domestic depressions of 1924 and 1927, Col. Ayres, writing in Collier’s, predicted a turning point in the near future. “Now arises the emotion of fear,” he said. “Things ,,ere [last spring] brighter looking than they were. Now they look darker than they are. This is the last phase of the depression.”
More Must-Reads from TIME
- How Selena Gomez Is Revolutionizing the Celebrity Beauty Business
- TIME100 Most Influential Companies 2024
- Javier Milei’s Radical Plan to Transform Argentina
- How Private Donors Shape Birth-Control Choices
- The Deadly Digital Frontiers at the Border
- What's the Best Measure of Fitness?
- The 31 Most Anticipated Movies of Summer 2024
- Want Weekly Recs on What to Watch, Read, and More? Sign Up for Worth Your Time
Contact us at letters@time.com