US Presidency
1931

Assistance to homeowners, both agricultural and urban, who are in difficulties in securing renewals of mortgages by strengthening the country banks, savings banks, and building and loan associations through the creation of a system of home loan discount banks. By restoring these institutions to normal functioning, we will see a revival in employment in new construction. 5. Development of a plan to assure early distribution to depositors in closed banks, and thus relieve distress amongst millions of smaller depositors and smaller businesses. 6. The enlargement under full safeguards of the discount facilities of the Federal Reserve banks in the interest of a more adequate credit system. 7. The creation for the period of the emergency of a reconstruction finance corporation to furnish necessary credit otherwise unobtainable under existing circumstances, and so give confidence to agriculture, to industry and to labor against further paralyzing influences and shocks, but more especially by the reopening of credit channels which will assure the maintenance and normal working of the commercial fabric. 8.