Yes. you are 100% correct.
Try and find a copy of "The Emperor Wears No Cloths" by Jack Herrer. It has the full timeline and loads of informative tid bits about the efforts to keep Hemp Illegal in the USA and abroad and what people are doing to get those laws over turned.
That one book completely changed my views about Hemp. Well worth the effort to find and read.
Fun Trivia:
One acre of Hemp can produce the same amount of usable cellulose in one year as an acre of Trees every 10 years.
Paper can be made from hemp using Hydrogen Peroxide as a bleaching agent. Environmentally friendly and the paper will last literally Millennia. (oldest paper 450BCE, hemp based)
Du Pont was granted a patent in 1936 to make paper using Sulfuric acid. They signed a deal with Hearst to provide cheap paper for Hearst's news papers. Just as a Hemp based paper was about to become practical due to a new way of processing Hemp stalks.
Hearst did a media blitz against Hemp, only the papers called it by it's Spanish name "Marijuana" and claimed it made Mexican immigrants violent, Blacks disrespectful (they would look a White man in the eye!!), and made White Women want to have sex with Blacks. Hearst newspapers described it as "a devil weed" the Mexican immigrants were bringing into the country.
The word "Marijuana" wasn't part of general English before 1936. But everyone knew about Hemp and that it was harmless and incredibly useful.
In 1936 Popular Mechanics described Hemp as a "Billion Dollar Crop", in 1936 dollars, due to how useful hemp was in just about everything, textiles, food, medicine, and general industries.
The original Levis pants were made from canvas made from, you guessed it, Cannabis. They were so durable the would sometimes be passed from Father to Son.