samedi 14 mars 2015
Federal Reserve System: The First 100 Years
Posted on 08:06 by nice news
In 1913, Albert Einstein was working on his
new theory of gravity, Richard Nixon was
born, and Franklin D. Roosevelt was sworn
in as assistant secretary of the Navy. It was
also the year Woodrow Wilson took the oath
of office as the 28th President of the United
States, intent on advocating progressive reform
and change. One of his biggest reforms occurred
on December 23, 1913, when he signed the Federal
Reserve Act into law. This landmark legislation
created the Federal Reserve System, the nation’s
central bank
.
A Need for Stability
Why was a central bank needed? The nation
had tried twice before to establish a central bank
modeled after European central banks to act as a
fiscal agent
for the government. The first Bank of
the United States was established by Congress
new theory of gravity, Richard Nixon was
born, and Franklin D. Roosevelt was sworn
in as assistant secretary of the Navy. It was
also the year Woodrow Wilson took the oath
of office as the 28th President of the United
States, intent on advocating progressive reform
and change. One of his biggest reforms occurred
on December 23, 1913, when he signed the Federal
Reserve Act into law. This landmark legislation
created the Federal Reserve System, the nation’s
central bank
.
A Need for Stability
Why was a central bank needed? The nation
had tried twice before to establish a central bank
modeled after European central banks to act as a
fiscal agent
for the government. The first Bank of
the United States was established by Congress
Federal Reserve System: The First 100 Years
Categories: Federal Reserve System: The First 100 Years
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