The Next Step in the President's Program - - Discount Banks to Aid Home Building

December 1931
Congressional Digest;Dec31, Vol. 10 Issue 12, p303
This article discusses U.S. Presidents' proposal to the U.S. Congress for the establishment of home loan discount banks for four purposes: Firstly, to relieve the financial strains upon sound building and loan associations, savings banks, deposit banks, and farm loan banks that have been giving credit through the medium of small mortgage loans upon urban and farm properties used for homes. Secondly, to put the various types of institutions loaning on mortgage in a position to assist in the revival of home construction in many parts of the country and with its resultant increase in employment. Thirdly, to safeguard against the repetition of such experience in the future. Fourthly, for the purpose of strengthening such institutions in the promotion of home ownership, particularly, through the financial strength thus made available to building and loan associations.


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