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The Federal Reserve System is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises.
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False
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Guanahaní is an island in the Bahamas that was the first land in the New World sighted and visited by Christopher Columbus' first voyage, on 12 October 1492. It is a bean-shaped island that Columbus changed from its native Taíno name to San Salvador. Guanahaní has traditionally been identified with Watlings Island, which was officially renamed San Salvador Island in 1925 as a result, but modern scholars are divided on the accuracy of this identification and several alternative candidates in and around the southern Bahamas have been proposed as well.
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McCulloch v. Maryland (1819) is one of the first and most important Supreme Court cases on federal power. In this case, the Supreme Court held that Congress has implied powers derived from those listed in Article I, Section 8. The “Necessary and Proper” Clause gave Congress the power to establish a national bank.
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