The War Finance Corporation was a

government corporation A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the governme ...

in the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...

created to give financial support to industries essential for

World War I World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fightin ...

, and to banking institutions that aided such industries. It continued to give support to various efforts during the interwar period. The corporation was created by a Congressional act of April 5, 1918, and abolished on July 1, 1939. Since government borrowing to pay for the war had attracted a majority of private capital, little capital was available for corporations to borrow; the War Finance Corporation was designed to make such capital available. After the

armistice An armistice is a formal agreement of warring parties to stop fighting. It is not necessarily the end of a war, as it may constitute only a cessation of hostilities while an attempt is made to negotiate a lasting peace. It is derived from the ...

in late 1918, the Corporation assisted in the transition to peacetime by financing railroads under government control, and making loans to American exporters and agricultural cooperative marketing associations. The Corporation established agricultural loan agencies in farming areas, and cooperated with several livestock loan companies. Eugene Meyer, a wealthy and ambitious Wall Street financier (who also became

Federal Reserve chairman The chair of the Board of Governors of the Federal Reserve System is the head of the Federal Reserve, and is the active executive officer of the Board of Governors of the Federal Reserve System. The chair shall preside at the meetings of the Boa ...

and owner of ''

The Washington Post ''The Washington Post'' (also known as the ''Post'' and, informally, ''WaPo'') is an American daily newspaper published in Washington, D.C. It is the most widely circulated newspaper within the Washington metropolitan area and has a large nati ...

''), was its managing director.

References

External links

Records of the War Finance Corporation
at the

National Archives and Records Administration The National Archives and Records Administration (NARA) is an " independent federal agency of the United States government within the executive branch", charged with the preservation and documentation of government and historical records. It ...

Historical documents related to the war finance
World War I Financial services companies established in 1918 Financial services companies disestablished in 1939 1918 establishments in the United States Government agencies established in 1918 Government agencies disestablished in 1939 Defunct agencies of the United States government Corporations chartered by the United States Congress {{US-gov-stub