• Summary
  • Contents
  • Subject index

A manual offering information on the most important laws and treaties approved by Congress in more than 200 years since the first session in 1789. Each Congress is covered in a separate chapter introduced by a historical essay setting the actions of the legislators in the context of their times.

Seventy-Second Congress: March 4, 1931, to March 3, 1933
Seventy-second Congress: March 4, 1931, to March 3, 1933
  • First session—December 7, 1931, to July 16, 1932
  • Second session—December 5, 1932, to March 3, 1933
  • (Administration of Herbert Hoover, 1929–1933)
Historical Background

As the Great Depression deepened, the nation's financial structure continued to disintegrate. Although President Herbert Hoover endorsed a series of measures that together constituted an unprecedented federal response to the crisis, his efforts to right the economy proved inadequate. The most important of Hoover's proposals was the Reconstruction Finance Corporation (RFC) Act, a prominent feature of his December 9, 1931, annual message. The RFC was authorized in January 1932 to make up to $2 billion in loans to such major economic institutions as banks, insurance companies, and railroads. In ...

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