Answer:
Congress passed the Federal Reserve Act in 1913, when the US had functioned without a central bank since 1836 because it wanted to end the numerous financial crises faced by the nation since its founding.
Primarily, the Federal Reserve Act of 1913 created the central bank of the United States. Its purposes included the printing of currency, control of money supply, maximization of employment, and the minimization of inflation.
Explanation:
The nation needed to enjoy economic stability by having a central bank that executes the monetary policies of the Federal government. The Federal Reserve Act provided the United States government with a safer, more stable, and more flexible monetary and financial system. Since its establishment, it has worked to ensure the enthronement of an efficient national payments system, flexible money supply, and effective lending/borrowing mechanism to ease liquidity crises for the facilitation of investments and industrialization of the nation.
The rule of law is the legal principle that law should govern a nation, as opposed to being governed by decisions of individual government officials. It primarily refers to the influence and authority of law within society, particularly as a constraint upon behaviour, including behaviour of government officials.
The promise to pass just and equal law was made by the signers of Mayflower Compact was influenced by the Magna Carta.
The Mayflower Compact was a set of self-government rules established by the English settlers who sailed to the New World on the Mayflower. When the Pilgrims and other settlers set sail for America in 1620, they planned to anchor in northern Virginia.
The principle of the rule of law was established by the English Magna Carta, which was written more than 400 years before the Mayflower Compact. In England, this still primarily referred to the king's law. The concept of law made by the people was carried forward by the Mayflower Compact. This concept is central to democracy.
Hence, the correct answer is the “Second” option.
To know more about Mayflower Compact, click here.
brainly.com/question/13833030
#SPJ1
Answer:
These are the principles of popular sovereignty, limited government, separation of powers, checks and balances, judicial review, and federalism
Explanation:
