The Federal Reserve System was basically set up to stabilize prices and price hikes. As an individual who was working at that time and I earned a certain amount but 2 years later dairy prices increased for example 5%, and wages stayed the same, that would cause me to get scared and fearful of other price hikes and the interest I was earning on the money in my bank didn’t change or possibly went down and I started to loose money I would panic and go grab my cash thus creating a run on the banks and an unstable banking system, economic growth is pressured so widespread panic happened and I believe a few times and of course caused banks to close and fail or come close in the early 20th century, before the Fed was created and signed under Woodrow Wilson who himself was an isolationist. Stability is key! Also USA relied on banks that would invest cash on our own country bonds. Where was the steady supply of cash? There was none. Causing the economy to fail. Basically the Fed was a system of failing banks that were tied together being bailed out by Wallstreet financiers working with the Government and Secretary of treasury came up with plans and similar agreements arose with similar failing banks but not insolvent banks or trusts agreeing to insure even its weaker banks/members. It stretched across the country governed by a national board of directors who set interest rates and controlled credit. It also as it evolved had the ability to regulate and supervise banking activities. Also the Fed would make sure that banks could keep up with changes in the demand for currency. To make sure commercial paper was available and lend if needed. Believe me it gets to confusing for me beyond this but these are the basic facts I am aware of. Even the issuing of paper money based on???
The criticisms that critics on both the right and left level gave regarding the New Deal are as follows:
Those on the right stated that the New Deal was bad because it related to "Laisse Faire" theory. They preferred that the economy should be left to correct itself.
The leftists, on the other hand, indicated that the New Deal was insufficient to correct the course of the economy.
<h3>What is the New Deal?</h3>
During the tenure of President Franklin D. Roosevelt, there were a series of projects and programs that were intended to jump-start the American Economy our of the Great Depression. These programs were named "the New Deal.
Learn more about the New Deal at:
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Answer and Explanation:
1. Because the "shot" represents a battle that echoed around the world, influencing battles elsewhere in the world, or involving several countries in the same battle. This is because this "shot" refers to the American revolution, which inspired other colonial territories to fight for independence. This "shot" may also represent the assassination of Archduke Franz Ferdinand, who started the second world war that involved several countries and even created the basis for the second world war.
2. The American revolution showed that it was possible for a colony to come into conflict with the country that dominated it and win by becoming independent. This inspired colonies across the European, African and Asian continents to fight for their freedoms, even though it seemed unlikely that they would win.
3. Because this was a simple, but very impressive way to show the importance of the battles of the American revolution to the whole world.
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One effect of Reconstruction after the Civil War was the improvement of opportunities and rights for the African American population in the U.S. Albeit a slow process, at least there was a beginning to enable the population as a whole to really address some of the horrible effects of slavery. The South rejoined the Union and slowly made progress back to normalcy. Many consider Reconstruction a failure because the changes desired were not as quick to come about.
