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APUSH 24

Question:
Reconstruction Finance Corporation (RFC)
Answer:
Established in 1932, it was the Hoover administration's most important response to the Depression. It made government credit available to banks, railroads, insurance companies, and businesses to stimulate economic activity. Most businesses weren't interested because it was a problem of consumer demand, not production. It was eventually authorized to lend money to states, but very little was given.
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Last update by Megan on 02/25/2012
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APUSH 24
APUSH 24
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Question: Reconstruction Finance Corporation (RFC)
Answer: Established in 1932, it was the Hoover administration's most important response to the Depression. It made government credit available to banks, railroads, insurance companies, and businesses to stimulate economic activity. Most businesses weren't interested because it was a problem of consumer demand, not production. It was eventually authorized to lend money to states, but very little was given.