Word: rfc
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...shipping jam quickly developed. Manhattan banks bought foreign gold so furiously that they found difficulty in getting it to the U. S. The U. S. Government had already engaged most of the available cargo space for gold it had secretly bought through the RFC. Lazard Frères prepared to ship $5,750,000, National City Bank booked $3,500,000 on the Berengaria, Bank of the Manhattan Co., $8,400,000 on the Bremen and the Manhattan, etc. etc. Every fast ship sailing from northern Europe in the next two weeks was reported booked up full. The limit...
...coming governor relies largely on the current taste for catchy abbreviations, with its NRA and RFC and OWA and CCC, to put over his election. His plan is the EPIC plan--End Poverty in California. His instruments will be the CAL, the CAP, and the CAM--California Authority for Land, for Production, and for Money. The symbol of EPIC will be the Golden Bee (in contrast to the predatory Blue Eagle of the NRA) and its motto, "I Produce, I Defend." No doubt such things have a magic all their own, but it seems just a bit optimistic to expect...
...President signed the District of Columbia Liquor Act. He also reappointed all present RFC directors, and named Charles Belknap Henderson, onetime (1918-21) Democratic Senator from Nevada, to a vacancy on the RFC board...
...that by 1932 this $3,000,000,000 contingent liability had largely ceased to be contingent. Underlying mortgages defaulted, foreclosed property became practically unsaleable and investors demanded that the companies make good their "guarantees."' When the situation threatened the whole banking equilibrium, Manhattan bankers, backed by the RFC, made futile credit gestures. By that time, however, most of the large companies were quite insolvent. With a sigh of relief Commissioner Van Schaick clamped down on them during President Roosevelt's March Moratorium...
...RFC: The RFC has been accused of being the Big Bad Wolf that came up to Michigan that February morning and closed the banks. The fact is that the government gave every bit of help it possibly could...