What does reconstruction finance corporation mean?
Definitions for reconstruction finance corporation
re·con·struc·tion fi·nance cor·po·ra·tion
This dictionary definitions page includes all the possible meanings, example usage and translations of the word reconstruction finance corporation.
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Reconstruction Finance Corporation
The Reconstruction Finance Corporation was a government corporation in the United States that operated between 1932 and 1957 which provided financial support to state and local governments and made loans to banks, railroads, mortgage associations and other businesses. Its aim was to boost the country’s confidence and help banks return to performing daily functions after the start of the great depression. It continued to operate through the New Deal where it became more prominent and through World War II. It was disbanded in 1957 when the US government felt it no longer needed to stimulate lending. It was an independent agency of the United States government, established and chartered by the US Congress in 1932, Act of January 22, 1932, c. 8, 47 Stat. 5, during the administration of President Herbert Hoover. When Eugene Meyer became Governor of the Federal Reserve Board, he had suggested creating the RFC. It was modeled after the War Finance Corporation of World War I. The agency gave $2 billion in aid to state and local governments and made a large number of loans which were nearly all repaid.
Numerology
Chaldean Numerology
The numerical value of reconstruction finance corporation in Chaldean Numerology is: 6
Pythagorean Numerology
The numerical value of reconstruction finance corporation in Pythagorean Numerology is: 3
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"reconstruction finance corporation." Definitions.net. STANDS4 LLC, 2024. Web. 26 Apr. 2024. <https://www.definitions.net/definition/reconstruction+finance+corporation>.
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