Farm Credit Act, March 1933- ZW

Farm Credit Act, March 1933
The Farm Credit Act of March 1933 helped a large number of farmers survive the dangerous economic and social circumstances of the Great Depression. The Farm Credit Act helped to offer short term loans to help with crop production and it also supported farmers who were in danger of having their land foreclosed on, by extending low interest rates. Thanks to the Farm Credit Act, many farmers had the aid of twelve banks called, Banks for Cooperatives to help take advantage of these low interest rates, this is known as the Farm Credit System. There is also a thirteenth bank that manages larger agricultural organizations. The act also brought a myriad of agencies working in agricultural credit together into an organization called the Farm Credit Administration (FCA), which had organizations within it to provide loans for production and  advertisement of crops and other agricultural needs. The Farm Credit Administration is an non-government organization (NGO) that manages the Farm Credit System. President Roosevelt told congress to create the the Farm Credit Administration to supervise the smaller organizations that are helping farmers get this credit.

The Farm Credit Act was passed on June 16th, 1933, by President Franklin D. Roosevelt. June 16th, 1933 was the last day of Roosevelt’s “Hundred Days.” President Roosevelt’s “hundred Days” were the first one hundred days of his presidency. In these one hundred days, President Roosevelt presented and helped create and support various laws, acts and oher initiatives to help better the detrimental effects of the Great Depression for the citizens of the United States.



1933.", "Farm Credit Act of. “Farm Credit Act of 1933.” The Columbia Encyclopedia, 6th Ed, Encyclopedia.com, 2018, www.encyclopedia.com/history/encyclopedias-almanacs-transcripts-and-maps/farm-credit-act-1933.

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