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Unformatted text preview: biggest problem….In June of 1913, Wilson appealed to Congress in a speech fro sweeping reforms in the banking system. Thus in 1913, the epochal Federal Reserve Act was passed, the most important piece of economic legislation between the Civil War and the New Deal! This was the first central banking system since Jackson destroyed the Bank of the US! It created the Federal Reserve Board, appointed by the president, which oversaw a nationwide system of 12 regional reserve districts, each with its own central bank...
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This note was uploaded on 10/16/2011 for the course AMH 2010 taught by Professor Pietrzak during the Spring '11 term at Broward College.
- Spring '11