RECOVERY: Subsection World

Buried almost out of sight in a subsection of a proposed bill which RFC Chairman Jesse Jones sent to the Senate last week, was a whole new world of Government money lending. The rest of the bill was largely concerned with details of RFC loans to banks, railroads, insurance companies, mortgage companies and similar institutions. The notable subsection, however, would authorize RFC to lend directly to private industry & commerce.

Any business could get RFC funds "for the purpose of furnishing working capital, reducing and refinancing existing indebtedness or making plant improvements...

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