Another $500,000, 000
Reconstruction Finance Corp. had only $3,318,778 left in the bottom of its $300,000,000 jobless relief fund last week when President Roosevelt signed a bill amply replenishing Federal resources to help the nation's destitute millions. Authorized was the expenditure of another $500,000,000, to be raised by R. F. C. through sale of its obligations to the Treasury and turned over to an Administrator of Relief.
The new law marked an important shift in relief policy. The R. F. C.'s $300,000,000 was distributed as loans to strapped states. Half of the new...