The RFC (Reconstruction Finance Corporation) was established by Congress in 1932. It was Hoover's desire to have the RFC lend money to banks, railroads, and other key economic institutions to make sure these institutions would remain in business. The idea was to help these businesses that had a shortage of capital. The RFC was not popular because the public viewed it as government helping big business at the expense of the workers who were earning less and the unemployed. It was based on Andrew Mellon's "trickle-down economics" but the problem was that little money trickled down to the average American.
The RFC was continued by the New Deal of FDR and all the loans it issued were paid back to the government. It also set up relief programs under the New Deal and helped handle the Depression, along with other agencies, for the New Deal.
Migration rose during the Great Depression.
Yes, there were bicycles during the great depression.
it was not clean during the great depression
What did some americans question during the great depression?
what did so many banks close during the great depression
There was a Msrjet Crash during the great depression.
Migration rose during the Great Depression.
Yes, there were bicycles during the great depression.
it was not clean during the great depression
It happenes during the Great Depression.
What did some americans question during the great depression?
what did so many banks close during the great depression
The Great Depression happened in the 1930s and 1940s. Taylor Swift was born in 1989, so she was not around during the Great Depression.
There are many Americans who were alive during the depression.
Yes chrismas still occurred during the depression.
the homeless rate during the great depression was nearly 25 percent of Americans.
The unemployment rate was 25% during the Great Depression.