GOVERNMENT: Repentance

Long under congressional fire for its sloppy housekeeping and carefree lending, the Reconstruction Finance Corp. last week slashed $5,000,000 from the agency's operating expenses, and hiked from 4% to 5% its interest rates on business and railroad loans. Said RFC's new Chairman W. Elmer Harber: "We think we can pay our own way and we think we should."

...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!