Word: rfc
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...national chairman in 1930, Senator Fess took the job. His ardent Dry leanings proved a party liability in the 1930 Congressional elections. He resigned in 1932. In the Senate he has voted for: the Bonus (1924), tax reduction (1929), Hawley-Smoot tariff (1930), moratorium on War debts (1931), RFC (1931), Economy Act (1933), overriding the Roosevelt veto on veterans' compensation (1934), St. Lawrence Waterway Treaty (1934). He voted against: Government operation of Muscle Shoals (1931. 1933), direct Federal relief for unemployed (1932, 1933), Repeal (1933), legalization of beer (1933), National Recovery Act (1933), Agricultural Adjustment Act (1933), abrogating gold...
...rooms, offices, shops and an illuminated cross visible for miles. An expert on church advertising and publicity. Dr. Reisner raised $5,000,000 before Depression halted his project. Broadway Temple is at present a roofed-over basement and some clumps of apartments but its pastor still hopes to get RFC money to complete construction...
...with a stranglehold on credit to private enterprise could perpetuate itself in power. But small and tame beside other New Deal measures last week looked S. 3487 as amended by the House, with its authorization for the twelve Federal Reserve Banks to lend up to $140,000,000 and RFC to lend up to $300,000,000 to big and little businesses. Federal loans up to five years were designed to supply new working capital half way between the short-term credits of commercial banks and long-term issues which have to hurdle the Securities...
...twelve intermediate credit banks. Senator Glass advised the President that such banks were not necessary since the Federal Reserve Banks could be pressed into service by an amendment to .the Federal Reserve Act. Final result was a bill passed three weeks ago by the Senate to provide for total RFC and Federal Reserve Bank loans of $530,000,000, no single RFC loan to exceed $1,000,000. As amended by the House last week the bill limited the total to $440,000,000, no RFC loan to exceed $100,000. As the measure went to conference, a compromise...
...program will go toward loosening the long-term capital market will depend on how liberally its administrators accept collateral. The bill stipulated that borrowers must be solvent and collateral adequate. All applications are to be submitted first to the Federal Reserve. If rejected there, they may be taken to RFC without prejudice. How liberal Jesse Jones, who has been yammering "Loosen up!" to bankers for months, will be may be guessed from the fact that one of his chief ambitions is to match the record of Eugene Meyer's War Finance Corp., which paid back to the Treasury every...