Answer:
Creation of Federal Reserve System
Explanation:
An important innovation initiated by Wilson was a complete reorganization of the financial and banking system and monetary circulation. Today, it is difficult for Americans to imagine what kind of financial turmoil reigned in their country from the time of the Civil War until the beginning of the 20th century. At that time, about seven thousand banks were functioning. Gold and silver coins, certificates, notes of the National Bank were in circulation, and all the monetary circulation was under the full control of Wall Street.
To harmonize the financial system with the needs of the economy, Wilson was pushing for a law to create the Federal Reserve System (Fed), which serves as the central bank of the United States. The President adhered to the “golden mean.” He listened to the advice of conservatives and, for the sake of the effective functioning of the financial system, agreed to create 12 regional federal banks. However, the stumbling block was the principle of forming the Fed's board, which, according to the personal plan of Wilson and his progressive advisers, was supposed to regulate its activities. The president had to withstand the extraordinary pressure of banking tycoons accusing him of trying to strip them of control of their property. But he did not make any concessions, considering the appointment of the composition of the board of the Federal Reserve System solely the competence of the president. Therefore, in the management of the Fed, although its ownership is private, the state plays a significant role.
Answer:
Enjoy!
Explanation:
Creole elites pushed for a continuation of European traditions in postcolonial Latin America.
Answer:
The Enlightenment era was often viewed as the founder of individualism and rationality. Women at that time often challenge those ideas and started questioning their roles in society. Out of the salons, women were able to obtain knowledge and gain literary support.
Explanation:
Answer:
Daily Market for Graphic Tees at the Clothing Shop Price in Dollars Supply Demand 0 70 20 30 40 50. Quantity Supplied What does "P" represent on the graph? ... A graph titled Daily Market for Graphic Tees at the Clothing Shop has Quantity supplied on the x-axis, from 0 to 50 in increments of 10, and price in dollars on the ...
Explanation:
