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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.
What else can I help you with?
Did they have bicycles during the great depression?
Yes, there were bicycles during the great depression.
Which of these rose during the great depression?
Migration rose during the Great Depression.
What was environmental cleanliness like during the Great Depression?
it was not clean during the great depression
What did some Americans question during the Great Depression?
What did some americans question during the great depression?
What day did the banks close during the Great Depression?
what did so many banks close during the great depression
Did they have bicycles during the great depression?
Yes, there were bicycles during the great depression.
Which of these rose during the great depression?
Migration rose during the Great Depression.
What was a market during the great depression?
There was a Msrjet Crash during the great depression.
What was environmental cleanliness like during the Great Depression?
it was not clean during the great depression
Congress established the Reconstruction Finance Corporation (RFC) to loan money to?
Congress established the Reconstruction Finance Corporation (RFC) in 1932 to provide financial support to banks, businesses, and state and local governments during the Great Depression. The RFC aimed to stimulate the economy by lending funds to institutions facing financial difficulties, thereby encouraging investment and employment. By stabilizing key sectors, the RFC sought to restore public confidence and promote economic recovery.
How does hooverville relate to the Great Depression?
It happenes during the Great Depression.
What did some Americans question during the Great Depression?
What did some americans question during the great depression?
What day did the banks close during the Great Depression?
what did so many banks close during the great depression
Was Taylor Swift around 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.
What was the homeless rate during the Great Depression?
the homeless rate during the great depression was nearly 25 percent of Americans.
What group of people did not do well economically speaking during the great depression?
Farmers were not doing good during the Great Depression.
What was the unemployment percentage during the Great Depression according to class of society?
The unemployment rate was 25% during the Great Depression.
