--- title: Page 22 - Jul 11, 1932, Vol. XX, No. 2 - The Vault - TIME description: Breaking news and analysis from time.com. Politics, world news, photos, video, tech reviews, health, science, and entertainment news. canonical: https://time.com/vault/issue/1932-07-11/page/22/ og:title: Page 22 - Jul 11, 1932, Vol. XX, No. 2 - The Vault - TIME og:description: Breaking news and analysis from time.com. Politics, world news, photos, video, tech reviews, health, science, and entertainment news. og:url: https://time.com/vault/issue/1932-07-11/page/22/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/bltd3b0e1842cb88c1f/698764cfe53aba363b4d5790/1550483.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 og:image:width: 1095 og:image:height: 616 og:image:alt: Magazine Cover: 1932-07-11 og:type: article twitter:card: summary_large_image twitter:title: Page 22 - Jul 11, 1932, Vol. XX, No. 2 - The Vault - TIME twitter:description: Breaking news and analysis from time.com. Politics, world news, photos, video, tech reviews, health, science, and entertainment news. twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/bltd3b0e1842cb88c1f/698764cfe53aba363b4d5790/1550483.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 --- Back to the vault ![The iconic red rectangular TIME logo with the word 'TIME' in white, bold, uppercase serif letters.](https://content.time.com/time/subscriber/vault/1932/07/19320711/1/1550.jpg) Shop the cover --- July 11, 1932 | Vol. XX No. 2July 11, 1932 | Vol. XX No. 2 ### July 11, 1932 | Vol. XX No. 2July 11, 1932 | Vol. XX No. 2 ![The iconic red rectangular TIME logo with the word 'TIME' in white, bold, uppercase serif letters.](https://content.time.com/time/subscriber/vault/1932/07/19320711/22/1550.jpg) July 11, 1932 | Vol. XX No. 2 Pageof 48 Zoom+ ![The iconic red rectangular TIME logo with the word 'TIME' in white, bold, uppercase serif letters.](https://content.time.com/time/subscriber/vault/1932/07/19320711/22/1550.jpg) ![The iconic red rectangular TIME logo with the word 'TIME' in white, bold, uppercase serif letters.](https://content.time.com/time/subscriber/vault/1932/07/19320711/1/1550.jpg) View page 1 ![The iconic red rectangular TIME logo with the word 'TIME' in white, bold, uppercase serif letters.](https://content.time.com/time/subscriber/vault/1932/07/19320711/2/1550.jpg) ![The iconic red rectangular TIME logo with the word 'TIME' in white, bold, uppercase serif letters.](https://content.time.com/time/subscriber/vault/1932/07/19320711/3/1550.jpg) View pages 2 & 3 ![The iconic red rectangular TIME logo with the word 'TIME' in white, bold, uppercase serif letters.](https://content.time.com/time/subscriber/vault/1932/07/19320711/4/1550.jpg) ![The iconic red rectangular TIME logo with the word 'TIME' in white, bold, uppercase serif 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letters.](https://content.time.com/time/subscriber/vault/1932/07/19320711/45/1550.jpg) View pages 44 & 45 ![The iconic red rectangular TIME logo with the word 'TIME' in white, bold, uppercase serif letters.](https://content.time.com/time/subscriber/vault/1932/07/19320711/46/1550.jpg) ![The iconic red rectangular TIME logo with the word 'TIME' in white, bold, uppercase serif letters.](https://content.time.com/time/subscriber/vault/1932/07/19320711/47/1550.jpg) View pages 46 & 47 ![The iconic red rectangular TIME logo with the word 'TIME' in white, bold, uppercase serif letters.](https://content.time.com/time/subscriber/vault/1932/07/19320711/48/1550.jpg) View page 48 Page 22 - Jul 11, 1932, Vol. XX, No. 2 - The Vault - TIME ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":210,"height":60},"foundingDate":"March 3, 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