Question

What was the purpose of the National Credit Corporation? Question 16 options: to begin borrowing money to spend in a deficit to extend credit to people in order to secure them homes to lend money to companies to stimulate hiring to increase the amount of currency in circulation

Answer 1

The National Credit Corporation was an organization created in 1931 in the United States by the Hoover administration. Its Purpose was to try to stop bank failure stemming from the Great Depression. The Corporation attempted to convince large surviving banks to loan money to failing banks as a solution to bank runs.