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==Scandal at LSU==
 
==Scandal at LSU==
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When urged by his staff to install Smith as a "politically pliable" president for LSU, Huey Long was quoted as having asked, "Who the hell's Smith?"<ref name=time>{{cite web|url=http://www.time.com/time/magazine/article/0,9171,761630,00.html|title=Louisiana: Jimmy the Stooge|date=July 10, 1939|publisher=''[[Time (magazine|Time]]'' [[magazine]]|accessdate=March 25, 2011|date=July 10, 1939}}</ref> ''[[Time magazine|Time]]'' called Smith an "academic puppet," under whose tenure Long spent $13.5 million at LSU for buildings, a huge swimming pool, "professional" football players, and the LSU Medical Center in [[New Orleans]]. Long boasted, "If there's any title I'm proud of, it's Chief Thief for LSU."<ref name=time/> Smith also benefited from lavish spending at the university. He installed his family in a campus mansion and bought a $3,000 car (then a large amount for a vehicle) at a time when most roads in Louisiana were still unpaved and when LSU faculty salaries were in arrears.<ref name=time/>
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When urged by his staff to install Smith as a "politically pliable" president for LSU, Huey Long was quoted as having asked, "Who the hell's Smith?"<ref name=time>{{cite web|url=http://www.time.com/time/magazine/article/0,9171,761630,00.html|title=Louisiana: Jimmy the Stooge|date=July 10, 1939|publisher=''[[Time (magazine)|Time]]'' [[magazine]]|date=July 10, 1939|accessdate=December 29, 2019}}</ref> ''[[Time (magazine)|Time]]'' called Smith an "academic puppet," under whose tenure Long spent $13.5 million at LSU for buildings, a huge swimming pool, "professional" football players, and the LSU Medical Center in [[New Orleans]]. Long boasted, "If there's any title I'm proud of, it's Chief Thief for LSU."<ref name=time/> Smith also benefited from lavish spending at the university. He installed his family in a campus mansion and bought a $3,000 car (then a large amount for a vehicle) at a time when most roads in Louisiana were still unpaved and when LSU faculty salaries were in arrears.<ref name=time/>
    
When the "Hayride" scandals claimed Governor Richard Webster Leche of New Orleans, he turned over the office to Huey Long's younger brother, then Lieutenant Governor [[Earl Long|Earl Kemp Long]]. Having just resigned as the LSU president, Smith was missing when Earl Long succeeded to the governorship. Students derided their former president as "Jimmy the Stooge."<ref name=time/> Three banks in Baton Rouge and New Orleans revealed that they had lent Smith $500,000 on notes that he had signed as the LSU president. The larger Fenner & Beane brokerage house in New Orleans had asked Smith to withdraw $375,000 in LSU bonds which he had posted as collateral for speculating in wheat futures. The state attorney general declared the notes unauthorized and worthless. An East Baton Rouge Parish [[grand jury]] indicted Smith for embezzling $100,000. Broker Charles Fenner, later part of Merrill Lynch, said that Smith had represented perhaps "a dozen friends" in the speculation.<ref name=time/>
 
When the "Hayride" scandals claimed Governor Richard Webster Leche of New Orleans, he turned over the office to Huey Long's younger brother, then Lieutenant Governor [[Earl Long|Earl Kemp Long]]. Having just resigned as the LSU president, Smith was missing when Earl Long succeeded to the governorship. Students derided their former president as "Jimmy the Stooge."<ref name=time/> Three banks in Baton Rouge and New Orleans revealed that they had lent Smith $500,000 on notes that he had signed as the LSU president. The larger Fenner & Beane brokerage house in New Orleans had asked Smith to withdraw $375,000 in LSU bonds which he had posted as collateral for speculating in wheat futures. The state attorney general declared the notes unauthorized and worthless. An East Baton Rouge Parish [[grand jury]] indicted Smith for embezzling $100,000. Broker Charles Fenner, later part of Merrill Lynch, said that Smith had represented perhaps "a dozen friends" in the speculation.<ref name=time/>
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