may 12, 1933 - Farm Credit Administration
Description:
Goal: Help farmers refinance mortgages over a longer time at below-market interest rates at regional and national banks. This helped farmers recover from the Dust Bowl. (see? New Deal LOVED farmers)How: Establish the Farm Credit System (FCS) as a group of cooperative lending institutions to provide short-, intermediate-, and long-term loans for agricultural purposes.
Still exists today!
Added to timeline:
Date:
may 12, 1933
Now
~ 92 years ago