The Unofficial History of Hearst

Marijuana activist Jack Hearer claims that in the 1930s, Hearst stood to lose millions when hemp fiber-stripping machines became available. But W.A. Swanberg reports that Hearst was actually the nation's largest purchaser of newsprint. In the late 1930s, when prices rose from $40 a ton to over $50 a ton, Hearst fell deeply into debt and never recovered.