Herbert Hoover: Annual Message to Congress

Glossary

• appropriations funds set aside by government for a particular purpose
• Federal Land Banks a system of farm credit institutions created by Congress in 1916
• Federal Reserve Banks a system of central banks, overseen by the Treasury Department, created by the 1913 Federal Reserve Act
• home loan discount banks a system of financial institutions, authorized by Hoover in 1931, that provided low-interest loans to home buyers
• Public Works Administration a government agency designed to provide jobs while constructing bridges, roads, and other significant public works
• statutory debt retirement paying off of public debt that has been incurred by legislative means
• tariff tax on imports
• War Finance Corporation an agency created during World War I to support industries essential to the war