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Editorial
January 29, 1934
The Bismarck Tribune
Bismarck, Mandan, Burleigh County, Morton County, North Dakota
What is this article about?
Editorial highlights the positive economic signs from the Reconstruction Finance Corporation (RFC) collecting $1 million daily from borrowers, with over a third of $3 billion lent repaid, and $333 million in loan applications canceled, indicating reviving business and lessened treasury strain.
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Full Text
Sign of Recovery
It is worth remembering that not all the vast amount of money spent by the federal government in the last year is going to prove a complete loss. Some of it is coming back; lately, indeed, it has been coming back at a pretty lively rate.
Thus Harvey Couch, of the board of directors of the Reconstruction Finance Corporation, reveals that the RFC now is collecting fully $1,000,000 a day from its borrowers. The corporation has lent something more than three billions in its career; more than a third of that already has been paid back.
Not only does this indicate that a severe strain on the treasury is being lessened; it is an excellent sign of reviving business. And when Mr. Couch adds that applications for loans totaling $333,000,000 recently have been canceled, it becomes apparent that prosperity, in truth, is on the way back at a fairly rapid gait.
It is worth remembering that not all the vast amount of money spent by the federal government in the last year is going to prove a complete loss. Some of it is coming back; lately, indeed, it has been coming back at a pretty lively rate.
Thus Harvey Couch, of the board of directors of the Reconstruction Finance Corporation, reveals that the RFC now is collecting fully $1,000,000 a day from its borrowers. The corporation has lent something more than three billions in its career; more than a third of that already has been paid back.
Not only does this indicate that a severe strain on the treasury is being lessened; it is an excellent sign of reviving business. And when Mr. Couch adds that applications for loans totaling $333,000,000 recently have been canceled, it becomes apparent that prosperity, in truth, is on the way back at a fairly rapid gait.
What sub-type of article is it?
Economic Policy
What keywords are associated?
Rfc
Loan Repayment
Economic Recovery
Reviving Business
Prosperity
What entities or persons were involved?
Harvey Couch
Reconstruction Finance Corporation
Federal Government
Editorial Details
Primary Topic
Rfc Loan Repayments As Sign Of Economic Recovery
Stance / Tone
Optimistic About Reviving Prosperity
Key Figures
Harvey Couch
Reconstruction Finance Corporation
Federal Government
Key Arguments
Not All Federal Spending Is A Complete Loss As Some Money Is Being Repaid
Rfc Collecting $1,000,000 Daily From Borrowers
Over A Third Of $3 Billion Lent By Rfc Has Been Repaid
Repayments Lessen Strain On Treasury
Reviving Business Indicated By Repayments
Loan Applications Totaling $333,000,000 Recently Canceled
Prosperity Returning At Rapid Pace