Word: rfc
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...vote of 74 to 1 passed a bill extending the life of RFC to June 30, 1939; sent it to the House...
...Jesse Jones, self-made First Citizen of Texas, went to Washington in February 1932 to be a Democratic director of Herbert Hoover's Reconstruction Finance Corp. Under pinchpenny Chairman Atlee Pomerene, RFC dwindled in power and prestige until by March 1933 it had hit bottom. Two months later Jesse Jones took over as chairman and RFC's great days began. He conducted himself and his huge money-lending business so well, with such level-headed liberalism, that it became easily the public's favorite New Deal agency, and he perhaps Washington's favorite administrator. Just...
...RFC's lending power, its vital function, was due to expire Jan. 31. Its great days were gone with the emergency which called it into being. For a year it had been chiefly winding up its affairs, collecting old loans, making few new ones.* But President Roosevelt wanted its lending powers, and those of four subordinate credit agencies,** extended to June 30, 1939. A bill to that effect was reported out by the Senate Banking & Currency Committee...
...enumeration of the problems confronting the Government as Calvin Coolidge used to give. Chief difference was that the Roosevelt voice cloaked them with an aura of statesmanship. He mentioned that he would ask Congress for quick action to extend the expiring life of certain authorizations and powers (for example, RFC lending), to modify the Neutrality Act in order to provide an embargo against arms shipments to Spain, to pass a deficiency bill (to provide for Relief). He ticked off recommendations and reports on many subjects: Reorganization. "I find that this task of Executive management has reached the point where...
...Before and after First National's failure, RFC loaned the bank a total of $134,000,000, since repaid...