- Did loans pursuant to the credit line Herbert Hoover organized for survivors of the Great Mississippi River Flood of 1927 have interest?
- Ish. “The devastated areas could not pay a high return…” Interest seems to have been charged but at a low rate.
- The full picture is a little more complicated than just interest or no interest, involving the many sources of private capital that contributed to the fund in the first place, including not only wealthy individuals but various banks and corporations.
- For a more complete explanation, see pages 373-77 in John M. Barry’s Rising Tide: The Great Mississippi River Flood of 1927 and How it Changed America.
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