Banks, railroads, and other key economic institutions to make sure these institutions would remain in business.
Reconstruction Finance Corporation (RFC), former U.S. government agency, created in 1932 by the administration of Herbert Hoover. Its purpose was to facilitate economic activity by lending money in the depression. The RFC (Reconstruction Finance Corporation) was established by Congress in 1932. It was Hoover's desire to have the RFC lend money to banks, railroads, and other key economic … institutions to make sure these institutions would remain in business. A lumber magnate, banker, and millionaire of Houston, Tex., Jones was appointed (1932) by President Hoover as a member of the Reconstruction Finance Corporation (RFC)...... Click the link for more information. The Reconstruction Finance Corporation played a major role in handling the Great Depression in the United States and setting up the relief programs that were taken over by the New Deal in 1933. The RFC or Reconstruction Finance Corporation represented typical  conservative Republican beliefs by lending money to businesses such  as railroads and banks to keep them i … n business. The idea was to  help businesses who were short on capital. The Reconstruction Finance Corporation (RFC) was a government corporation in the United States that operated between 1932 and 1957 which provided financial support to state and local governments and made loans to banks, railroads, mortgage associations and other businesses. President Hubert Hoover expected the Reconstruction Finance  Corporation to energize the economy and help the stock market poll  out of its downturn. The Corporation was a h … uge disappointment. 3 people found this useful.
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what benefited from reconstruction finance corporation created by president hoover who benefited from this program