OCR Text |
Show EHFA (Electric Home and Farm Authority) Is making possible pos-sible the sale of electric labor-1 saving devices at extremely low-, prices, but cutting interest and financing charges. FCUS (Federal Credit Union System) This bureau is backed and supervised by the government but receives no public money. It promotes cooperative associations in order to provide members with a source of short-term credit. FERA (Federal Emergency Relief Administration) Grants money to states for loans to farmers and finances homesteders in the Rural Ru-ral Industrial Community projects. FLB (Federal Land Banks) Makes mortgage loans on farm lands. HOLC (Home Owners' Loan Corporation) Cor-poration) Relieves home-owners by taking over mortgages which they cannot meet, and replacing them with new mortgages whose terms are much easier. PCA (Prdouctlon Credit Associations) Asso-ciations) Makes general farm loans. PWA (Public Works Administration) Adminis-tration) Most famous of the bureaus, and most important. Makes Mak-es loans to states, cities, counties, railroads and some other types of corporations for improvements and developments. PWEHC (Public - Works Emer gency Housing Corporation) Designed De-signed to stimulate the building of low cost homes, by making long time loans on highly favorable terms. Due to a decision against it by Comptroller of the Currency Curren-cy J. R. McCarL its work is being be-ing handled at present by the PWA. RFC (Reconstruction Finance Corporation) A holdover from the Hoover regime. Provides emergency capital for financing agricultural and industrial undertakings. TVA (Tennessee Valley Authority) Auth-ority) Builds municipal power plants in towns in the Muscle Shoals Area, provides them with power at wholesale rates, and sells them the plants on the "easy payment" pay-ment" plan. USSBB (United States Shipping Board Bureau) Lends to American Ameri-can ship-building concerns. There, as Al Smith would say, is the record. Functions that, a few years ago, were considered the exclusive provinces of states or private interests have been taken over by the federal government in the course of its grea recovery drive. Administration supporters say that the new bureaus are essential, that they are doing an invaluable work which only the federal government can adequately do administration critics shake their heads, denounce what they believe is a trend toward Fascism. The average citizen, faced with a multitude of dissenting opinions and persuasive arguments, is in a continual daze. ECONOMIC HIGHLIGHTS i No topic is more bitterly de-; de-; bated than that of whether or not i extension of the powers and ac-W ac-W tivities of the federal government is desirable or necessary. But it is not debatable that during the ! last two years there has been an astonishing and unprecedented development de-velopment of the federal bureaucracy. bureau-cracy. There are now 30 agencies, wholly or partially supported by federal funds, or directly under government supervision, which have the power to make loans. Here is a partial list and few will find many of the names fa-i fa-i miliar: CBC (Central Bank for Cooperatives) Co-operatives) Makes loans to large cooperative associations to finance the sale of farm products and the development of better marketing facilities. ( CCC (Commodity Credit Cor-; Cor-; poration) Works to stabilize the marketing of farm products, by j making purchases in the open i, market and encouraging, with fin-ancial fin-ancial aid, the creation of mar- keting agreements among producers. produc-ers. ECPLO (Emergency Crop Production Pro-duction Loan Office) Makes loans, ' tor crop producton purposes, to I farmers who cannot obtain credit I from other governmental agencies. |