Jump to ContentJump to Main Navigation
American BondsHow Credit Markets Shaped a Nation$
Users without a subscription are not able to see the full content.

Sarah L. Quinn

Print publication date: 2019

Print ISBN-13: 9780691156750

Published to Princeton Scholarship Online: January 2020

DOI: 10.23943/princeton/9780691156750.001.0001

Show Summary Details
Page of

PRINTED FROM PRINCETON SCHOLARSHIP ONLINE (www.princeton.universitypressscholarship.com). (c) Copyright Princeton University Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in PRSO for personal use.date: 25 June 2022

Credit as a Tool of Statecraft

Credit as a Tool of Statecraft

(p.69) 4 Credit as a Tool of Statecraft
American Bonds

Sarah L. Quinn

Princeton University Press

This chapter shows how Progressives returned to the issue of farm credit distribution in the early 1900s and drew on European precedents to reframe credit allocation as a way for the central government to help people help themselves. American Progressives thus replaced their earlier, more radical farm credit politics with a more moderate vision of government-supported credit as an inexpensive way of supporting self-help. The chapter then considers the Federal Farm Loan Act (FFLA). Compared with other hallmarks of Progressive Era state building, the FFLA seems relatively unimportant. Nevertheless, it was a turning point in the use of selective credit as a tool of federal statecraft in the United States. The FFLA provided federal credit on a national level that was administered through public–private partnerships and bolstered by tax expenditures. By tracing the lead-up to this policy, one can see how Progressives forged a new array of cultural and organizational approaches to federal credit that would later proliferate across policy arenas.

Keywords:   American Progressives, farm credit distribution, credit allocation, central government, government-supported credit, Federal Farm Loan Act, state building, selective credit, federal statecraft, federal credit

Princeton Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us.