Changes

The '''Reconstruction Finance Corporation''' (RFC) was an independent agency of the U.S. government, chartered during the administration of [[Herbert Hoover]] in 1932.  The agency advanced $2 billion in loans to  state and local governments and to banks, railroads, farm  mortgage  associations, and other businesses, funding, for example, the construction of the original Hayden Planetarium. [[Thomas G. Corcoran]] recieved a placement in the Reconstruction Finance Corporation when Hoover was President.  

The '''Reconstruction Finance Corporation''' (RFC) was an independent agency of the U.S. government, chartered during the administration of [[Herbert Hoover]] in 1932.  The agency advanced $2 billion in loans to  state and local governments and to banks, railroads, farm  mortgage  associations, and other businesses, funding, for example, the construction of the original Hayden Planetarium. [[Thomas G. Corcoran]] received a placement in the Reconstruction Finance Corporation when Hoover was President.  

The RFC also had a division that would give the states loans for emergency relief needs.

The RFC also had a division that would give the states loans for emergency relief needs.

[[Nathan Gregory Silvermaster]], who headed an extremely large group of Soviet agents working in the U.S. Government during World War II, was transferred, along with the rest of the division from the Treasury Department's War Asset's Administration into to the Reconstruction Finance Corporation, where it became the War Assets Corporation.

[[Nathan Gregory Silvermaster]], who headed an extremely large group of Soviet agents working in the U.S. Government during World War II, was transferred, along with the rest of the division from the Treasury Department's War Asset's Administration into to the Reconstruction Finance Corporation, where it became the War Assets Corporation.

On May 29, 1946, FBI Director J. Edgar Hoover sent George E. Allen, a confidant of the President and head of the Reconstruction Finance Corporation, a four-page letter marked Personal and Condifential by special messenger. Hoover reported that a reliable source, which was the [[Venona project]], revealed “an enormous Soviet espionage ring in Washington.” <ref>[http://www.fas.org/sgp/library/moynihan/hoovlet.html Hoover to Allen Letter, May 29, 1946].</ref> Of some fourteen names listed which included [[Alger Hiss]] and [[Nathan Gregory Silvermaster]], Hoover addedd at the top of the list Undersecretary of State Dean Acheson,  and others who were not Venona suspects.  Hoover's action here was one source of much confusion regarding the Soviet penetetration of the US Government during [[World War II]] which become public knowledge later. <ref>Robert J. Hanyok, [http://www.nsa.gov/publications/publi00044.cfm  ''Eavesdropping on Hell'']: Historical Guide to Western Communications Intelligence and the Holocaust, 1939-1945. Ft. Meade, MD: [[National Security Agency]], Center for Cryptologic History, 2005; "Currie, known as PAZh (Page) and [[Harry Dexter White|White]], whose cover names were YuRIST (Jurist) and changed later to LAJER (Lawyer), had been Soviet agents since the 1930s. They had been identified as Soviet agents in [[Venona]] translations and by other agents turned witnesses or informants for the FBI and [[Justice Department]]. From the Venona translations, both were known to pass intelligence to their handlers, notably the [[Greg Silvermaster#Silvermaster group|Silvermaster network]]."</ref><ref>United States. National Counterintelligence Center. [http://www.ncix.gov/issues/CI_Reader/Vol3/Vol3Chap1.pdf ''A Counterintelligence Reader'']. NACIC, no date. vol. 3, chap. 1, pg. 31.</ref>

On May 29, 1946, FBI Director J. Edgar Hoover sent George E. Allen, a confidant of the President and head of the Reconstruction Finance Corporation, a four-page letter marked Personal and Condifential by special messenger. Hoover reported that a reliable source, which was the [[Venona project]], revealed “an enormous Soviet espionage ring in Washington.” <ref>[http://www.fas.org/sgp/library/moynihan/hoovlet.html Hoover to Allen Letter, May 29, 1946].</ref> Of some fourteen names listed which included [[Alger Hiss]] and [[Nathan Gregory Silvermaster]], Hoover added at the top of the list Undersecretary of State Dean Acheson,  and others who were not Venona suspects.  Hoover's action here was one source of much confusion regarding the Soviet penetration of the US Government during [[World War II]] which become public knowledge later. <ref>Robert J. Hanyok, [http://www.nsa.gov/publications/publi00044.cfm  ''Eavesdropping on Hell'']: Historical Guide to Western Communications Intelligence and the Holocaust, 1939-1945. Ft. Meade, MD: [[National Security Agency]], Center for Cryptologic History, 2005; "Currie, known as PAZh (Page) and [[Harry Dexter White|White]], whose cover names were YuRIST (Jurist) and changed later to LAJER (Lawyer), had been Soviet agents since the 1930s. They had been identified as Soviet agents in [[Venona]] translations and by other agents turned witnesses or informants for the FBI and [[Justice Department]]. From the Venona translations, both were known to pass intelligence to their handlers, notably the [[Greg Silvermaster#Silvermaster group|Silvermaster network]]."</ref><ref>United States. National Counterintelligence Center. [http://www.ncix.gov/issues/CI_Reader/Vol3/Vol3Chap1.pdf ''A Counterintelligence Reader'']. NACIC, no date. vol. 3, chap. 1, pg. 31.</ref>

The Petroleum Reserves Corporation was transferred to the Office of Economic Warfare, which was consolidated into the [[Foreign Economic Administration]], which was transferred to the Reconstruction Finance Corporation and changed to the War Assets Corporation. The War Assets Corporation was dissolved as soon as practicable after March 25, 1946. Presidential aide and Soviet spy, Lauchlin Currie headed the office during this time.

The Petroleum Reserves Corporation was transferred to the Office of Economic Warfare, which was consolidated into the [[Foreign Economic Administration]], which was transferred to the Reconstruction Finance Corporation and changed to the War Assets Corporation. The War Assets Corporation was dissolved as soon as practicable after March 25, 1946. Presidential aide and Soviet spy, Lauchlin Currie headed the office during this time.