Tag Archives: frazier-lemke

Frazier-Lemke Farm Bankruptcy Act, The Great Depression, and Louis Brandeis


My Country – Frazier-Lemke Farm Bankruptcy Act In the 1920s and 1930s, farmers accrued large amounts of debt. Farm prices feel as the industrial revolution increased manufacturing prices. Farmers found it impossible to pay off their mortgages. As we noted yesterday, historically, bankruptcy was used to liquidate the assets of a debtor, distribute the proceeds, …