"Well, I can think of several people that lost their farms. And that may have something to do with it. When things were prosperous, they were able to go. When prices came down, why, naturally they couldn't finance their debt anymore. See, I can recall in the early 30s, the price of corn got so low that we were burning ear corn in our heating stoves in place of coal."
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Walter Schmitt is a first generation American. His father was immigrated from Germany and his mother from Czechoslovakia. He grew up in his father's blacksmith shop in Gresham, Nebraska. He graduated from high school in 1930 and went to work with his father. After his father died, he kept the shop open until his health failed in the early 1990s. Walter passed on in 2008 and left over $3.5 million to the University of Nebraska-Lincoln for scholarships.
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