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On Aug. 9, 1931 Huey P. Long invited the governors of Texas and other southern states to come to New Orleans to discuss his sure-fire cure for what was ailing King Cotton. From a high of 40 cents a pound at the start of the decade, cotton lost half its value on the world market during the 1920’s. But those were boom times compared to the Great Depression. By the summer of 1931, the South’s money crop had become practically worthless fetching a paltry 5.66 cents per pound.


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