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class="vector-toc-list"> <li id="toc-Monetary_expansion_in_World_War_I" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Monetary_expansion_in_World_War_I"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.1</span> <span>Monetary expansion in World War I</span> </div> </a> <ul id="toc-Monetary_expansion_in_World_War_I-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Charter_extension" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Charter_extension"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.2</span> <span>Charter extension</span> </div> </a> <ul id="toc-Charter_extension-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Federal_Open_Market_Committee" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Federal_Open_Market_Committee"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.3</span> <span>Federal Open Market Committee</span> </div> </a> <ul id="toc-Federal_Open_Market_Committee-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-12_USC_§_225a" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#12_USC_§_225a"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.4</span> <span>12 USC § 225a</span> </div> </a> <ul id="toc-12_USC_§_225a-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Impact" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Impact"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>Impact</span> </div> </a> <ul id="toc-Impact-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Criticisms" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Criticisms"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>Criticisms</span> </div> </a> <ul id="toc-Criticisms-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>References</span> </div> </a> <button aria-controls="toc-References-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle References subsection</span> </button> <ul id="toc-References-sublist" class="vector-toc-list"> <li id="toc-Works_cited" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Works_cited"> <div class="vector-toc-text"> <span class="vector-toc-numb">7.1</span> <span>Works cited</span> </div> </a> <ul id="toc-Works_cited-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" title="Table of Contents" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button 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class="interlanguage-link-target"><span>Български</span></a></li><li class="interlanguage-link interwiki-de badge-Q70894304 mw-list-item" title=""><a href="https://de.wikipedia.org/wiki/Federal_Reserve_Act" title="Federal Reserve Act – German" lang="de" hreflang="de" data-title="Federal Reserve Act" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Ley_de_la_Reserva_Federal_de_1913" title="Ley de la Reserva Federal de 1913 – Spanish" lang="es" hreflang="es" data-title="Ley de la Reserva Federal de 1913" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-eo mw-list-item"><a href="https://eo.wikipedia.org/wiki/Federal_Reserve_Act" title="Federal Reserve Act – Esperanto" lang="eo" hreflang="eo" data-title="Federal Reserve Act" data-language-autonym="Esperanto" data-language-local-name="Esperanto" class="interlanguage-link-target"><span>Esperanto</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D9%84%D8%A7%DB%8C%D8%AD%D9%87_%D9%81%D8%AF%D8%B1%D8%A7%D9%84_%D8%B1%D8%B2%D8%B1%D9%88" title="لایحه فدرال رزرو – Persian" lang="fa" hreflang="fa" data-title="لایحه فدرال رزرو" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EC%97%B0%EB%B0%A9%EC%A4%80%EB%B9%84%EB%B2%95" title="연방준비법 – Korean" lang="ko" hreflang="ko" data-title="연방준비법" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Federal_Reserve_Act" title="Federal Reserve Act – Italian" lang="it" hreflang="it" data-title="Federal Reserve Act" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E9%80%A3%E9%82%A6%E6%BA%96%E5%82%99%E6%B3%95" title="連邦準備法 – Japanese" lang="ja" hreflang="ja" data-title="連邦準備法" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Ustawa_o_Rezerwie_Federalnej" title="Ustawa o Rezerwie Federalnej – Polish" lang="pl" hreflang="pl" data-title="Ustawa o Rezerwie Federalnej" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%97%D0%B0%D0%BA%D0%BE%D0%BD_%D0%BE_%D0%A4%D0%B5%D0%B4%D0%B5%D1%80%D0%B0%D0%BB%D1%8C%D0%BD%D0%BE%D0%BC_%D1%80%D0%B5%D0%B7%D0%B5%D1%80%D0%B2%D0%B5" title="Закон о Федеральном резерве – Russian" lang="ru" hreflang="ru" data-title="Закон о Федеральном резерве" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/Federal_Reserve_Act" title="Federal Reserve Act – Swedish" lang="sv" hreflang="sv" data-title="Federal Reserve Act" data-language-autonym="Svenska" data-language-local-name="Swedish" class="interlanguage-link-target"><span>Svenska</span></a></li><li class="interlanguage-link interwiki-zh mw-list-item"><a href="https://zh.wikipedia.org/wiki/%E8%81%AF%E9%82%A6%E5%84%B2%E5%82%99%E6%B3%95" title="聯邦儲備法 – Chinese" lang="zh" 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id="mw-content-subtitle"></div></div> <div id="mw-content-text" class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">1913 United States law creating the Federal Reserve System</div> <style data-mw-deduplicate="TemplateStyles:r1257001546">.mw-parser-output .infobox-subbox{padding:0;border:none;margin:-3px;width:auto;min-width:100%;font-size:100%;clear:none;float:none;background-color:transparent}.mw-parser-output .infobox-3cols-child{margin:auto}.mw-parser-output .infobox .navbar{font-size:100%}@media screen{html.skin-theme-clientpref-night .mw-parser-output .infobox-full-data:not(.notheme)>div:not(.notheme)[style]{background:#1f1f23!important;color:#f8f9fa}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .infobox-full-data:not(.notheme) div:not(.notheme){background:#1f1f23!important;color:#f8f9fa}}@media(min-width:640px){body.skin--responsive .mw-parser-output .infobox-table{display:table!important}body.skin--responsive .mw-parser-output .infobox-table>caption{display:table-caption!important}body.skin--responsive .mw-parser-output .infobox-table>tbody{display:table-row-group}body.skin--responsive .mw-parser-output .infobox-table tr{display:table-row!important}body.skin--responsive .mw-parser-output .infobox-table th,body.skin--responsive .mw-parser-output .infobox-table td{padding-left:inherit;padding-right:inherit}}</style><table class="infobox"><caption class="infobox-title" style="padding-bottom:0.25em">Federal Reserve Act</caption><tbody><tr><td colspan="2" class="infobox-image"><span typeof="mw:File"><a href="/wiki/File:Great_Seal_of_the_United_States_(obverse).svg" class="mw-file-description"><img alt="Great Seal of the United States" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Great_Seal_of_the_United_States_%28obverse%29.svg/140px-Great_Seal_of_the_United_States_%28obverse%29.svg.png" decoding="async" width="140" height="140" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Great_Seal_of_the_United_States_%28obverse%29.svg/210px-Great_Seal_of_the_United_States_%28obverse%29.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Great_Seal_of_the_United_States_%28obverse%29.svg/280px-Great_Seal_of_the_United_States_%28obverse%29.svg.png 2x" data-file-width="600" data-file-height="600" /></a></span></td></tr><tr><th scope="row" class="infobox-label" style="padding-top:0.245em;line-height:1.15em;padding-right:0.65em">Long title</th><td class="infobox-data" style="text-align:left;line-height:1.3em">An Act to provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes</td></tr><tr><th scope="row" class="infobox-label" style="padding-top:0.245em;line-height:1.15em;padding-right:0.65em">Enacted by</th><td class="infobox-data" style="text-align:left;line-height:1.3em">the <a href="/wiki/63rd_United_States_Congress" title="63rd United States Congress">63rd United States Congress</a></td></tr><tr><th colspan="2" class="infobox-header" style="background:#bbddff">Citations</th></tr><tr><th scope="row" class="infobox-label" style="padding-top:0.245em;line-height:1.15em;padding-right:0.65em">Public law</th><td class="infobox-data" style="text-align:left;line-height:1.3em">[<a rel="nofollow" class="external text" href="https://fraser.stlouisfed.org/scribd/?title_id=975&filepath=/docs/historical/fr_act/1913_fedresact_publiclaw43.pdf">63-43</a> <a href="/wiki/Act_of_Congress#Public_law,_private_law,_designation" title="Act of Congress"><abbr title="Public Law">Pub. L.</abbr></a> <a rel="nofollow" class="external text" href="https://uslaw.link/citation/us-law/public/63/43">63–43</a>]</td></tr><tr><th scope="row" class="infobox-label" style="padding-top:0.245em;line-height:1.15em;padding-right:0.65em"><a href="/wiki/United_States_Statutes_at_Large" title="United States Statutes at Large"><span class="wrap">Statutes at Large</span></a></th><td class="infobox-data" style="text-align:left;line-height:1.3em">ch. 6, 38 <a href="/wiki/United_States_Statutes_at_Large" title="United States Statutes at Large">Stat.</a> <a rel="nofollow" class="external text" href="https://legislink.org/us/stat-38-251">251</a></td></tr><tr><th colspan="2" class="infobox-header" style="background:#bbddff"><span class="nourlexpansion"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20100324115751/http://www.llsdc.org/FRA%2DLH/">Legislative history</a></span></th></tr><tr><td colspan="2" class="infobox-full-data" style="text-align:left;line-height:1.3em"><div><ul style="line-height:1.3em;text-align:left"><li><b>Introduced</b> in the House as H.R. 7837 by <a href="/wiki/Carter_Glass" title="Carter Glass">Carter Glass</a> (<a href="/wiki/Democratic_Party_(United_States)" title="Democratic Party (United States)">D</a>-<a href="/wiki/Virginia" title="Virginia">VA</a>) on August 29, 1913</li><li><b>Committee consideration</b> by <a href="/wiki/United_States_House_Committee_on_Banking_and_Currency" class="mw-redirect" title="United States House Committee on Banking and Currency">House Banking</a>, <a href="/wiki/United_States_Senate_Committee_on_Banking_and_Currency" class="mw-redirect" title="United States Senate Committee on Banking and Currency">Senate Banking</a></li><li><b>Passed the House</b> on September 18, 1913 (<a rel="nofollow" class="external text" href="https://www.govtrack.us/congress/votes/63-1/h33">287–85, 5 Present</a>)</li><li><b>Passed the Senate</b> on December 18, 1913 (<a rel="nofollow" class="external text" href="https://www.govtrack.us/congress/votes/63-2/s184">54–34</a>)</li><li><b>Reported by the joint conference committee</b> on December 22, 1913; <b>agreed to by the House</b> on December 22, 1913 (<a rel="nofollow" class="external text" href="https://www.govtrack.us/congress/votes/63-2/h73">298–60</a>) and by the <b>Senate</b> on December 23, 1913 (<a rel="nofollow" class="external text" href="https://www.govtrack.us/congress/votes/63-2/s185">43–25</a>)</li><li><b>Signed into law</b> by President <a href="/wiki/Woodrow_Wilson" title="Woodrow Wilson">Woodrow Wilson</a> on December 23, 1913</li></ul></div></td></tr><tr><th colspan="2" class="infobox-header" style="background:#bbddff">Major amendments</th></tr><tr><td colspan="2" class="infobox-full-data" style="text-align:left;line-height:1.3em"><a href="/wiki/Dodd%E2%80%93Frank_Wall_Street_Reform_and_Consumer_Protection_Act" title="Dodd–Frank Wall Street Reform and Consumer Protection Act">Dodd–Frank Wall Street Reform and Consumer Protection Act</a><br /><a href="/wiki/Economic_Growth,_Regulatory_Relief_and_Consumer_Protection_Act" class="mw-redirect" title="Economic Growth, Regulatory Relief and Consumer Protection Act">Economic Growth, Regulatory Relief and Consumer Protection Act</a></td></tr></tbody></table> <figure class="mw-default-size mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:Fed_Reserve.JPG" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/7/7a/Fed_Reserve.JPG/220px-Fed_Reserve.JPG" decoding="async" width="220" height="317" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/7a/Fed_Reserve.JPG/330px-Fed_Reserve.JPG 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/7a/Fed_Reserve.JPG/440px-Fed_Reserve.JPG 2x" data-file-width="1330" data-file-height="1914" /></a><figcaption>Federal Reserve</figcaption></figure> <p>The <b>Federal Reserve Act</b> was passed by the <a href="/wiki/63rd_United_States_Congress" title="63rd United States Congress">63rd United States Congress</a> and signed into law by President <a href="/wiki/Woodrow_Wilson" title="Woodrow Wilson">Woodrow Wilson</a> on December 23, 1913. The law created the <a href="/wiki/Federal_Reserve_System" class="mw-redirect" title="Federal Reserve System">Federal Reserve System</a>, the <a href="/wiki/Central_bank" title="Central bank">central banking</a> system of the <a href="/wiki/United_States" title="United States">United States</a>. </p><p>After Democrats won unified control of Congress and the presidency in the <a href="/wiki/1912_United_States_elections" title="1912 United States elections">1912 elections</a>, President Wilson, Congressman <a href="/wiki/Carter_Glass" title="Carter Glass">Carter Glass</a>, and Senator <a href="/wiki/Robert_Latham_Owen" class="mw-redirect" title="Robert Latham Owen">Robert Latham Owen</a> crafted a central banking bill that occupied a middle ground between the <a href="/wiki/Aldrich_Plan" class="mw-redirect" title="Aldrich Plan">Aldrich Plan</a>, which called for private control of the central banking system, and <a href="/wiki/Progressivism_in_the_United_States" title="Progressivism in the United States">progressives</a> like <a href="/wiki/William_Jennings_Bryan" title="William Jennings Bryan">William Jennings Bryan</a>, who favored government control over the central banking system. Wilson made the bill a top priority of his <a href="/wiki/The_New_Freedom" title="The New Freedom">New Freedom</a> domestic agenda, and he helped ensure that it passed both houses of Congress without major amendments. </p><p>The Federal Reserve Act created the Federal Reserve System, consisting of twelve regional <a href="/wiki/Federal_Reserve_Bank" title="Federal Reserve Bank">Federal Reserve Banks</a> jointly responsible for managing the country's <a href="/wiki/Money_supply" title="Money supply">money supply</a>, making loans and providing oversight to banks, and serving as a <a href="/wiki/Lender_of_last_resort" title="Lender of last resort">lender of last resort</a>. To lead the Federal Reserve System, the act established the <a href="/wiki/Federal_Reserve_Board_of_Governors" title="Federal Reserve Board of Governors">Federal Reserve Board of Governors</a>, members of which are appointed by the president. The <a href="/wiki/1933_Banking_Act" title="1933 Banking Act">1933 Banking Act</a> amended the Federal Reserve Act to create the <a href="/wiki/Federal_Open_Market_Committee" title="Federal Open Market Committee">Federal Open Market Committee</a>, which oversees the Federal Reserve's <a href="/wiki/Open_market_operation" title="Open market operation">open market operations</a>. A later amendment requires the Federal Reserve "to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates." </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Overview">Overview</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Federal_Reserve_Act&action=edit&section=1" title="Edit section: Overview"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The Federal Reserve Act created a system of private and public entities. There were to be at least eight and no more than twelve private regional Federal Reserve banks. <a href="/wiki/Federal_Reserve_Bank" title="Federal Reserve Bank">Twelve were established</a>, and each had various branches, a board of directors, and district boundaries. The Federal Reserve Board, consisting of seven members, was created as the governing body of the Fed. Each member is appointed by the U.S. president and confirmed by the U.S. Senate. In 1935, the Board was renamed and restructured. Also created as part of the Federal Reserve System was a 12-member Federal Advisory Committee and a single new United States currency, the <a href="/wiki/Federal_Reserve_Note" title="Federal Reserve Note">Federal Reserve Note</a>. The Federal Reserve Act created a national currency and a monetary system that could respond effectively to the stresses in the banking system and create a stable financial system. The goal of the system was to ensure that there would always be a supply of money and credit in times of financial strain.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> With the goal of creating a national monetary system and financial stability, the Federal Reserve Act also provided many other functions and financial services for the economy, such as check clearing and collection for all members of the Federal Reserve. </p><p>With the passing of the Federal Reserve Act, Congress required that all nationally chartered banks become members of the Federal Reserve System. These banks were required to purchase specified non-transferable stock in their regional Federal Reserve banks, and to set aside a stipulated amount of non-interest bearing reserves with their respective reserve banks. Since 1980, all depository institutions have been required to set aside reserves with the Federal Reserve. Such institutions are entitled to certain Federal Reserve services. State chartered banks were given the option of becoming members of the Federal Reserve System and in the case of the exercise of such option were to be subject to supervision, in part, by the Federal Reserve System. Member banks became entitled to have access to discounted loans at the <a href="/wiki/Discount_window" title="Discount window">discount window</a> in their respective reserve banks, to a 6% annual dividend in their Federal Reserve stock, and to other services. </p> <div class="mw-heading mw-heading2"><h2 id="Background">Background</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Federal_Reserve_Act&action=edit&section=2" title="Edit section: Background"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Central banking has made various institutional appearances throughout the history of the United States. These institutions started with the <a href="/wiki/First_Bank_of_the_United_States" title="First Bank of the United States">First</a> and <a href="/wiki/Second_Bank_of_the_United_States" title="Second Bank of the United States">Second</a> banks of the United States, which were championed in large part by <a href="/wiki/Alexander_Hamilton" title="Alexander Hamilton">Alexander Hamilton</a>. </p> <div class="mw-heading mw-heading3"><h3 id="First_Bank_of_United_States">First Bank of United States</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Federal_Reserve_Act&action=edit&section=3" title="Edit section: First Bank of United States"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The American financial system was deeply fragmented after the <a href="/wiki/American_Revolutionary_War" title="American Revolutionary War">American Revolutionary War</a>. The government was burdened with large wartime debts, and the new republic needed a strong financial institution to give the country a resilient financial footing. <a href="/wiki/Alexander_Hamilton" title="Alexander Hamilton">Alexander Hamilton</a> and <a href="/wiki/Thomas_Jefferson" title="Thomas Jefferson">Thomas Jefferson</a> had opposing views regarding whether or not the US could benefit from a European-style national financial institution. Hamilton was in favor of building a strong centralized political and economic institution to solve the country's financial problem. He argued that a central bank could bring order to the US monetary system, manage the government's revenues and payments, and provide credit to both the public and private sectors. On the other hand, Jefferson was deeply suspicious of a central bank because, he argued, it would undermine democracy. Jefferson and Southern members of congress also believed that a strong central financial institution would serve commercial interests of the north at the expense of Southern-based agriculture interests whose credit was provided by local banks during the post-revolutionary war era. <a href="/wiki/First_Bank_of_the_United_States" title="First Bank of the United States">The First Bank of the United States</a> was established in 1791 chartered for a period of twenty years. The US government was the largest shareholder of the bank. Despite its shareholder status, the government was not permitted to participate in management of the bank. The bank accepted deposits, issued bank notes, and provided short-term loans to the government. It also functioned as a clearinghouse for government debt. The bank could also regulate state-chartered banks to prevent <a href="/wiki/Overproduction" title="Overproduction">overproduction</a> of banknotes. The bank was very successful in financing the government and stimulating the economy. In spite of its successes, hostility against the bank did not fade. <a href="/wiki/Jeffersonian_democracy" title="Jeffersonian democracy">Jeffersonians</a> questioned the bank's constitutionality. In 1811, the first bank of the United States failed to be renewed by one vote in both the House and the Senate.<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Second_Bank_of_the_United_States">Second Bank of the United States</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Federal_Reserve_Act&action=edit&section=4" title="Edit section: Second Bank of the United States"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>After the War of 1812, economic instability necessitated the creation of a second national bank. Due to expanding money supply and lack of supervision, individual bank activity sparked high inflation. In 1816, a <a href="/wiki/Second_Bank_of_the_United_States" title="Second Bank of the United States">second national bank</a> was created with a charter of twenty years. Three years later, during the <a href="/wiki/Panic_of_1819" title="Panic of 1819">panic of 1819</a> the second bank of the United States was blamed for overextending credit in a land boom, and would tighten up credit policies following the panic.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> The Second bank was unpopular among the western and southern state-chartered banks, and constitutionality of a national bank was questioned. President <a href="/wiki/Andrew_Jackson" title="Andrew Jackson">Jackson</a> would come into office, and wished to end the current central bank during his presidency. Under the premise that the bank favored a small economic and political elite at the expense of the public majority, the Second Bank became private after its charter expired in 1836, and would undergo liquidation in 1841. </p><p>For nearly 80 years, the U.S. was without a central bank after the charter for the <a href="/wiki/Second_Bank_of_the_United_States" title="Second Bank of the United States">Second Bank of the United States</a> was allowed to expire. After various financial panics, particularly a <a href="/wiki/Panic_of_1907" title="Panic of 1907">severe one in 1907</a>, some Americans became persuaded that the country needed some sort of banking and currency reform that would,<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> when threatened by financial panics, provide a ready reserve of liquid assets, and furthermore allow for currency and credit to expand and contract seasonally within the U.S. economy. </p><p>Some of this was chronicled in the reports of the <a href="/wiki/National_Monetary_Commission" title="National Monetary Commission">National Monetary Commission</a> (1909–1912), which was created by the <a href="/wiki/Aldrich%E2%80%93Vreeland_Act" title="Aldrich–Vreeland Act">Aldrich–Vreeland Act</a> in 1908. Included in a report of the Commission, submitted to Congress on January 9, 1912, were recommendations and draft legislation with 59 sections, for proposed changes in U.S. banking and currency laws.<sup id="cite_ref-Commission_6-0" class="reference"><a href="#cite_note-Commission-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> The proposed legislation was known as the <a href="/wiki/Aldrich-Vreeland_Act" class="mw-redirect" title="Aldrich-Vreeland Act">Aldrich Plan</a>, named after the chairman of the Commission, Republican Senator <a href="/wiki/Nelson_W._Aldrich" title="Nelson W. Aldrich">Nelson W. Aldrich</a> of Rhode Island. </p><p>The Plan called for the establishment of a National Reserve Association with 15 regional district branches and 46 geographically dispersed directors primarily from the banking profession. The Reserve Association would make emergency loans to member banks, print money, and act as the fiscal agent for the U.S. government. State and nationally chartered banks would have the option of subscribing to specified stock in their local association branch.<sup id="cite_ref-Commission_6-1" class="reference"><a href="#cite_note-Commission-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> It is generally believed that the outline of the Plan had been formulated in a secret meeting on <a href="/wiki/Jekyll_Island" title="Jekyll Island">Jekyll Island</a> in November 1910, which Aldrich and other well connected financiers attended.<sup id="cite_ref-Whitehouse_7-0" class="reference"><a href="#cite_note-Whitehouse-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p><p>Since the Aldrich Plan gave too little power to the government, there was strong opposition to it from rural and western states because of fears that it would become a tool of bankers, specifically the Money Trust of New York City.<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> Indeed, from May 1912 through January 1913 the <a href="/wiki/Pujo_Committee" title="Pujo Committee">Pujo Committee</a>, a subcommittee of the <a href="/wiki/United_States_House_Committee_on_Banking_and_Currency" class="mw-redirect" title="United States House Committee on Banking and Currency">House Committee on Banking and Currency</a>, held investigative hearings on the alleged Money Trust and its interlocking directorates. These hearings were chaired by Rep. <a href="/wiki/Arsene_Pujo" class="mw-redirect" title="Arsene Pujo">Arsene Pujo</a>, a Democratic representative from Louisiana.<sup id="cite_ref-Pujo_9-0" class="reference"><a href="#cite_note-Pujo-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p><p>In the <a href="/wiki/United_States_House_elections,_1912" class="mw-redirect" title="United States House elections, 1912">election of 1912</a>, the Democratic Party won control of the White House and both chambers of Congress. The party's platform stated strong opposition to the Aldrich Plan. The platform also called for a systematic revision of banking laws in ways that would provide relief from financial panics, unemployment and business depression, and would protect the public from the "domination by what is known as the Money Trust." The final plan, however, was quite similar to the Aldrich Plan, with a few revisions. Sen. Carter Glass made these revisions, although the main premise of the Aldrich Plan was in there.<sup id="cite_ref-H-Rept_10-0" class="reference"><a href="#cite_note-H-Rept-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> Changes in the Banking and Currency System of the United States]. House Report No. 69, 63rd Congress to accompany H.R. 7837, submitted to the full House by <a href="/wiki/Carter_Glass" title="Carter Glass">Carter Glass</a>, from the House Committee on Banking and Currency, September 9, 1913. 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rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1214851843"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1214851843"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1214851843"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1214851843"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1214851843"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1214851843"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1214851843"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1214851843"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1214851843"><table class="sidebar nomobile sidebar-person vcard hlist" style="border-color: #d69d36"><tbody><tr><th class="sidebar-title"><table><tbody><tr> <td class="sidebar-person-title-image" style="background-color: #002466;color:inherit;"><span class="mw-image-border" typeof="mw:File"><a href="/wiki/File:Thomas_Woodrow_Wilson,_Harris_%26_Ewing_bw_photo_portrait,_1919_(cropped)_c.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/5/51/Thomas_Woodrow_Wilson%2C_Harris_%26_Ewing_bw_photo_portrait%2C_1919_%28cropped%29_c.jpg/75px-Thomas_Woodrow_Wilson%2C_Harris_%26_Ewing_bw_photo_portrait%2C_1919_%28cropped%29_c.jpg" decoding="async" width="75" height="100" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/51/Thomas_Woodrow_Wilson%2C_Harris_%26_Ewing_bw_photo_portrait%2C_1919_%28cropped%29_c.jpg/113px-Thomas_Woodrow_Wilson%2C_Harris_%26_Ewing_bw_photo_portrait%2C_1919_%28cropped%29_c.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/51/Thomas_Woodrow_Wilson%2C_Harris_%26_Ewing_bw_photo_portrait%2C_1919_%28cropped%29_c.jpg/150px-Thomas_Woodrow_Wilson%2C_Harris_%26_Ewing_bw_photo_portrait%2C_1919_%28cropped%29_c.jpg 2x" data-file-width="1637" data-file-height="2177" /></a></span></td> <td class="sidebar-person-title" style="background-color: #002466;color: #FFF;"><div><span class="tmp-color" style="color: #FFF">This article is part of <br />a series about</span></div><span class="vcard"><span class="fn"><a href="/wiki/Woodrow_Wilson" title="Woodrow Wilson"><span class="tmpl-colored-link" style="color: #FFF; text-decoration: inherit;">Woodrow Wilson</span></a></span></span></td> </tr></tbody></table></th></tr><tr><td class="sidebar-content"> <hr /> <div class="hidden-begin mw-collapsible mw-collapsed" style=""><div class="hidden-title skin-nightmode-reset-color" style="">Personal</div><div class="hidden-content mw-collapsible-content" style="text-align:center;"> <ul><li><a href="/wiki/Early_life_of_Woodrow_Wilson" class="mw-redirect" title="Early life of Woodrow Wilson">Early life</a></li> <li><a href="/wiki/Woodrow_Wilson_Boyhood_Home" title="Woodrow Wilson Boyhood Home">Boyhood home</a></li> <li><a href="/wiki/Woodrow_Wilson_Boyhood_Home_(Columbia,_South_Carolina)" title="Woodrow Wilson Boyhood Home (Columbia, South Carolina)">South Carolina home</a></li> <li><a href="/wiki/Woodrow_Wilson_House_(Washington,_D.C.)" title="Woodrow Wilson House (Washington, D.C.)">Washington, D.C. house</a></li> <li><a href="/wiki/Woodrow_Wilson_and_race" title="Woodrow Wilson and race">Race relations</a></li> <li><a href="/wiki/1910_New_Jersey_gubernatorial_election" title="1910 New Jersey gubernatorial election">New Jersey gubernatorial election</a></li> <li><a href="/wiki/Wilsonianism" title="Wilsonianism">Wilsonianism</a></li></ul> </div></div> <hr /> <div class="hidden-begin mw-collapsible mw-collapsed" style=""><div class="hidden-title skin-nightmode-reset-color" style="">28th President of the United States</div><div class="hidden-content mw-collapsible-content" style="text-align:center;"> <ul><li><a href="/wiki/Presidency_of_Woodrow_Wilson" title="Presidency of Woodrow Wilson">Presidency</a> <ul><li><a href="/wiki/Timeline_of_the_Woodrow_Wilson_presidency" title="Timeline of the Woodrow Wilson presidency">timeline</a></li></ul></li> <li><a href="/wiki/Presidential_transition_of_Woodrow_Wilson" title="Presidential transition of Woodrow Wilson">Transition</a></li> <li>Inaugurations <ul><li><a href="/wiki/First_inauguration_of_Woodrow_Wilson" title="First inauguration of Woodrow Wilson">first</a></li> <li><a href="/wiki/Second_inauguration_of_Woodrow_Wilson" title="Second inauguration of Woodrow Wilson">second</a></li></ul></li> <li><a href="/wiki/List_of_federal_judges_appointed_by_Woodrow_Wilson" title="List of federal judges appointed by Woodrow Wilson">Judicial appointments</a> <ul><li><a href="/wiki/Woodrow_Wilson_Supreme_Court_candidates" title="Woodrow Wilson Supreme Court candidates">Supreme Court</a></li></ul></li> <li><a href="/wiki/Foreign_policy_of_the_Woodrow_Wilson_administration" title="Foreign policy of the Woodrow Wilson administration">Foreign policy</a></li></ul> </div></div> <hr /> <div class="hidden-begin mw-collapsible mw-collapsed" style=""><div class="hidden-title skin-nightmode-reset-color" style="">Tenure</div><div class="hidden-content mw-collapsible-content" style="text-align:center;"> <ul><li><a href="/wiki/Women%27s_suffrage_in_the_United_States" title="Women's suffrage in the United States">Women's suffrage</a> <ul><li><a href="/wiki/Woman_Suffrage_Procession" title="Woman Suffrage Procession">procession</a></li></ul></li> <li><a href="/wiki/Silent_Sentinels" title="Silent Sentinels">Silent Sentinels</a></li> <li><a class="mw-selflink selflink">Federal Reserve Act</a></li> <li><a href="/wiki/Clayton_Antitrust_Act_of_1914" title="Clayton Antitrust Act of 1914">Clayton Antitrust Act</a></li> <li><a href="/wiki/Federal_Trade_Commission" title="Federal Trade Commission">Federal Trade Commission</a></li> <li><a href="/wiki/United_States_occupation_of_Veracruz" class="mw-redirect" title="United States occupation of Veracruz">United States occupation of Veracruz</a></li> <li><a href="/wiki/Pancho_Villa_Expedition" title="Pancho Villa Expedition">Pancho Villa Expedition</a></li> <li><a href="/wiki/Colorado_Coalfield_War" title="Colorado Coalfield War">Coalfield War</a></li> <li><a href="/wiki/Daylight_saving_time_in_the_United_States" title="Daylight saving time in the United States">Daylight saving time</a></li> <li><a href="/wiki/Banana_Wars" title="Banana Wars">Banana Wars</a></li> <li><a href="/wiki/Louis_Brandeis_Supreme_Court_nomination" title="Louis Brandeis Supreme Court nomination">Louis Brandeis Supreme Court nomination</a></li> <li><a href="/wiki/Eighteenth_Amendment_to_the_United_States_Constitution" title="Eighteenth Amendment to the United States Constitution">18th Amendment</a></li> <li><a href="/wiki/Nineteenth_Amendment_to_the_United_States_Constitution" title="Nineteenth Amendment to the United States Constitution">19th Amendment</a></li> <li><a href="/wiki/United_States_in_World_War_I" title="United States in World War I">World War I</a> <ul><li><a href="/wiki/Zimmermann_telegram" title="Zimmermann telegram">Zimmermann telegram</a></li> <li><a href="/wiki/Thrasher_incident" title="Thrasher incident">Thrasher incident</a></li> <li><a href="/wiki/American_entry_into_World_War_I" title="American entry into World War I">Entry</a></li> <li><a href="/wiki/United_States_declaration_of_war_on_Austria-Hungary" title="United States declaration of war on Austria-Hungary">Against Austria-Hungary</a></li> <li><a href="/wiki/United_States_declaration_of_war_on_Germany_(1917)" title="United States declaration of war on Germany (1917)">Against Germany</a></li> <li><a href="/wiki/United_States_home_front_during_World_War_I" title="United States home front during World War I">Home front</a></li> <li><a href="/wiki/Espionage_Act_of_1917" title="Espionage Act of 1917">Espionage Act</a></li> <li><a href="/wiki/Fourteen_Points" title="Fourteen Points">Fourteen Points</a></li> <li><a href="/wiki/Wilsonian_Armenia" title="Wilsonian Armenia">Wilsonian Armenia</a></li> <li><a href="/wiki/Paris_Peace_Conference_(1919%E2%80%931920)" title="Paris Peace Conference (1919–1920)">Paris Peace Conference</a></li> <li><a href="/wiki/Big_Four_(World_War_I)" title="Big Four (World War I)">Big Four</a></li> <li><a href="/wiki/Treaty_of_Versailles" title="Treaty of Versailles">Treaty of Versailles</a></li> <li><a href="/wiki/League_of_Nations" title="League of Nations">League of Nations</a></li></ul></li></ul> </div></div> <hr /> <div class="hidden-begin mw-collapsible mw-collapsed" style=""><div class="hidden-title skin-nightmode-reset-color" style=""><a href="/wiki/Electoral_history_of_Woodrow_Wilson" title="Electoral history of Woodrow Wilson">Presidential campaigns</a></div><div class="hidden-content mw-collapsible-content" style="text-align:center;"> <ul><li>1912 <ul><li><a href="/wiki/1912_United_States_presidential_election" title="1912 United States presidential election">election</a></li> <li><a href="/wiki/1912_Democratic_National_Convention" title="1912 Democratic National Convention">convention</a></li> <li><a href="/wiki/The_New_Freedom" title="The New Freedom">The New Freedom</a></li></ul></li> <li>1916 <ul><li><a href="/wiki/1916_United_States_presidential_election" title="1916 United States presidential election">election</a></li> <li><a href="/wiki/1916_Democratic_National_Convention" title="1916 Democratic National Convention">convention</a></li></ul></li></ul> </div></div> <hr /> <div class="hidden-begin mw-collapsible mw-collapsed" style=""><div class="hidden-title skin-nightmode-reset-color" style="">Legacy</div><div class="hidden-content mw-collapsible-content" style="text-align:center;"> <ul><li><a href="/wiki/List_of_memorials_to_Woodrow_Wilson" title="List of memorials to Woodrow Wilson">Memorials</a></li> <li><a href="/wiki/Princeton_School_of_Public_and_International_Affairs" title="Princeton School of Public and International Affairs">Princeton School of Public and International Affairs</a></li> <li><a href="/wiki/Woodrow_Wilson_International_Center_for_Scholars" title="Woodrow Wilson International Center for Scholars">Wilson Center</a></li> <li><a href="/wiki/Woodrow_Wilson_Presidential_Library" title="Woodrow Wilson Presidential Library">Presidential Library</a></li></ul> </div></div> <hr /> <div class="skin-invert-image"><span class="notpageimage" typeof="mw:File"><a href="/wiki/Woodrow_Wilson" title="Woodrow Wilson's signature"><img alt="Woodrow Wilson's signature" src="//upload.wikimedia.org/wikipedia/commons/thumb/9/9b/Woodrow_Wilson_Signature_2.svg/150px-Woodrow_Wilson_Signature_2.svg.png" decoding="async" width="150" height="70" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/9b/Woodrow_Wilson_Signature_2.svg/225px-Woodrow_Wilson_Signature_2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/9b/Woodrow_Wilson_Signature_2.svg/300px-Woodrow_Wilson_Signature_2.svg.png 2x" data-file-width="622" data-file-height="289" /></a></span></div> <span typeof="mw:File"><span><img alt="Seal of the President of the United States" src="//upload.wikimedia.org/wikipedia/commons/thumb/3/36/Seal_of_the_President_of_the_United_States.svg/70px-Seal_of_the_President_of_the_United_States.svg.png" decoding="async" width="70" height="70" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/36/Seal_of_the_President_of_the_United_States.svg/105px-Seal_of_the_President_of_the_United_States.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/36/Seal_of_the_President_of_the_United_States.svg/140px-Seal_of_the_President_of_the_United_States.svg.png 2x" data-file-width="2424" data-file-height="2425" /></span></span></td> </tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Woodrow_Wilson_series" title="Template:Woodrow Wilson series"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Woodrow_Wilson_series" title="Template talk:Woodrow Wilson series"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Woodrow_Wilson_series" title="Special:EditPage/Template:Woodrow Wilson series"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p>Attempts to reform currency and banking had been made in the United States prior to the introduction of H.R. 7837. The first major form of this type of legislation came through with the <a href="/wiki/First_Bank_of_the_United_States" title="First Bank of the United States">First Bank of the United States</a> in 1791. Championed by <a href="/wiki/Alexander_Hamilton" title="Alexander Hamilton">Alexander Hamilton</a>, this established a central bank that included in a three-part expansion of federal fiscal and monetary power (including federal mint and excise taxes). Attempts were made to extend this bank's charter, but they would fail before the charters expiration in 1811. This led to the creation of the Second Bank of the United States. In 1816, the U.S. Congress chartered this Second bank for a twenty-year period to create irredeemable currency with which to pay for the costs of the <a href="/wiki/War_of_1812" title="War of 1812">War of 1812</a>. The creation of congressionally authorized irredeemable currency by the Second Bank of the United States opened the door to the possibility of taxation by inflation. Congress did not want state-chartered banks as competition in the inflation of currency.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (January 2016)">citation needed</span></a></i>]</sup> The charter for the Second Bank would expire in 1836, leaving the U.S. without a central bank for nearly eighty years. </p><p>In the aftermath of the <a href="/wiki/Panic_of_1907" title="Panic of 1907">Panic of 1907</a>, there was general agreement among leaders in both parties of the necessity to create some sort of central banking system to provide coordination during financial emergencies. Most leaders also sought currency reform, as they believed that the roughly $3.8 billion in coins and <a href="/wiki/Banknote" title="Banknote">banknotes</a> did not provide an adequate money supply during financial panics. Under conservative Republican Senator <a href="/wiki/Nelson_Aldrich" class="mw-redirect" title="Nelson Aldrich">Nelson Aldrich</a>'s leadership, the <a href="/wiki/National_Monetary_Commission" title="National Monetary Commission">National Monetary Commission</a> had put forward a plan to establish a central banking system that would issue currency and provide oversight and loans to the nation's banks. However, many progressives distrusted the plan due to the degree of influence bankers would have over the central banking system.<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> Relying heavily on the advice of <a href="/wiki/Louis_Brandeis" title="Louis Brandeis">Louis Brandeis</a>, Wilson sought a middle ground between progressives such as <a href="/wiki/William_Jennings_Bryan" title="William Jennings Bryan">William Jennings Bryan</a> and conservative Republicans like Aldrich.<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> He declared that the banking system must be "public not private, [and] must be vested in the government itself so that the banks must be the instruments, not the masters, of business."<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> </p><p>Democratic Congressman <a href="/wiki/Carter_Glass" title="Carter Glass">Carter Glass</a> and Senator <a href="/wiki/Robert_L._Owen" title="Robert L. Owen">Robert L. Owen</a> crafted a compromise plan in which private banks would control twelve regional <a href="/wiki/Federal_Reserve_Bank" title="Federal Reserve Bank">Federal Reserve Banks</a>, but a controlling interest in the system was placed in a central board filled with presidential appointees.<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> The system of twelve regional banks was designed with the goal of diminishing <a href="/wiki/Wall_Street" title="Wall Street">Wall Street</a>'s influence. Wilson convinced Bryan's supporters that the plan met their demands for an elastic currency because Federal Reserve notes would be obligations of the government.<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> The bill passed the House in September 1913, but it faced stronger opposition in the Senate. After Wilson convinced just enough Democrats to defeat an amendment put forth by bank president <a href="/wiki/Frank_A._Vanderlip" title="Frank A. Vanderlip">Frank A. Vanderlip</a> that would have given private banks greater control over the central banking system, the Senate voted 54–34 to approve the Federal Reserve Act. Wilson signed the bill into law in December 1913.<sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Amendments">Amendments</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Federal_Reserve_Act&action=edit&section=6" title="Edit section: Amendments"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The Federal Reserve Act was amended in major ways over time, e.g. to account for Hawaii and Alaska's admission to the Union, for restructuring of the Fed's districts, and to specify jurisdictions.<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Monetary_expansion_in_World_War_I">Monetary expansion in World War I</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Federal_Reserve_Act&action=edit&section=7" title="Edit section: Monetary expansion in World War I"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In June 1917 Congress passed major amendments to the Act in order to enable monetary expansion to cover the expected costs of World War I, which the US had just entered in April. The amendments allowed a more flexible definition of the gold backing the dollar currency in circulation. This relaxation de facto allowed less gold backing for each dollar note, and enabled the currency in circulation to more than double from $465m to $1247m just from June to December 1917. This reform has been argued to have been necessary to finance the expected $2 billion dollar cost of participating in the war for a year. Price inflation followed.<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Charter_extension">Charter extension</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Federal_Reserve_Act&action=edit&section=8" title="Edit section: Charter extension"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The Federal Reserve Act originally granted a twenty-year charter to the Federal Reserve Banks: "To have succession for a period of twenty years from its organization unless it is sooner dissolved by an Act of Congress, or unless its franchise becomes forfeited by some violation of law.".<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> This clause was amended on February 25, 1927: "To have succession after the approval of this Act until dissolved by Act of Congress or until forfeiture of franchise for violation of law."<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> The success of this amendment is notable, as in 1933, the US was in the throes of the <a href="/wiki/Great_Depression" title="Great Depression">Great Depression</a> and public sentiment with regards to the Federal Reserve System and the banking community in general had significantly deteriorated. Given the political climate, including of <a href="/wiki/Franklin_D._Roosevelt" title="Franklin D. Roosevelt">Franklin D. Roosevelt</a>’s administration and <a href="/wiki/New_Deal" title="New Deal">New Deal</a> legislation, it is uncertain whether the Federal Reserve System would have survived. </p> <div class="mw-heading mw-heading3"><h3 id="Federal_Open_Market_Committee">Federal Open Market Committee</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Federal_Reserve_Act&action=edit&section=9" title="Edit section: Federal Open Market Committee"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 1933, by way of the <a href="/wiki/1933_Banking_Act" title="1933 Banking Act">Banking Act of 1933</a>, the Federal Reserve Act was amended to create the <a href="/wiki/Federal_Open_Market_Committee" title="Federal Open Market Committee">Federal Open Market Committee</a> (FOMC), which consists of the seven members of the Board of Governors of the Federal Reserve System and five representatives from the Federal Reserve Banks. The FOMC is required to meet at least four times a year (in practice, the FOMC usually meets eight times) and has the power to direct all open-market operations of the Federal Reserve banks. </p> <div class="mw-heading mw-heading3"><h3 id="12_USC_§_225a"><span id="12_USC_.C2.A7_225a"></span>12 USC § 225a</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Federal_Reserve_Act&action=edit&section=10" title="Edit section: 12 USC § 225a"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>On November 16, 1977, the Federal Reserve Act was <a href="/wiki/Amendment" title="Amendment">amended</a> to require the Board and the FOMC "to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates." The Chairman was also required to appear before Congress at semi-annual hearings to report on the conduct of monetary policy, on economic development, and on the prospects for the future. The Federal Reserve Act has been amended by some 200 subsequent laws of Congress. It continues to be one of the principal banking laws of the United States. <sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (October 2020)">citation needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading2"><h2 id="Impact">Impact</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Federal_Reserve_Act&action=edit&section=11" title="Edit section: Impact"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The passing of the Federal Reserve act of 1913 carried implications both domestically and internationally for the United States economic system.<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> The absence of a central banking structure in the U.S. previous to this act left a financial essence that was characterized by immobile reserves and inelastic currency.<sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> Creating the Federal Reserve gave the Federal Reserve control to regulate inflation, even though the government control over such powers would eventually lead to decisions that were controversial. Some of the most prominent implications include the internationalization of the <a href="/wiki/International_use_of_the_US_dollar" class="mw-redirect" title="International use of the US dollar">U.S. Dollar as a global currency</a>, the impact from the perception of the Central Bank structure as a public good by creating a system of financial stability (Parthemos 19-28), and the Impact of the Federal Reserve in response to economic panics.<sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> The Federal Reserve Act also permitted national banks to make <a href="/wiki/Mortgage_loan" class="mw-redirect" title="Mortgage loan">mortgage loans</a> for farm land, which had not been permitted previously.<sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Criticisms">Criticisms</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Federal_Reserve_Act&action=edit&section=12" title="Edit section: Criticisms"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Criticism_of_the_Federal_Reserve" title="Criticism of the Federal Reserve">Criticism of the Federal Reserve</a></div> <p>Throughout the history of the United States, there has been an enduring economic and political debate regarding the costs and benefits of central banking. Since the inception of a central bank in the United States, there were multiple opposing views to this type of economic system. Opposition was based on protectionist sentiment; a central bank would serve a handful of financiers at the expense of small producers, businesses, farmers and consumers, and could destabilize the economy through speculation and inflation. This created even further controversy over who would select the decision-makers in charge of the Federal Reserve. Proponents argued that a strong banking system could provide enough credit for a growing economy and avoid economic depressions. Other critical views included the belief that the bill gave too much power to the federal government after the senate revised the bill to create 12 board members who were each appointed by the president. </p><p>Preceding the creation of the Federal Reserve, no U.S. central banking systems lasted for more than 25 years. Some of the questions raised include: whether Congress has the Constitutional power to delegate its power to coin money (<a href="/wiki/Enclave_Clause" class="mw-redirect" title="Enclave Clause">Article 1, Sec. 8, Clause 5</a>, states: "The Congress shall have power To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures"), whether the structure of the federal reserve is transparent enough, whether the Federal Reserve is a public <a href="/wiki/Cartel" title="Cartel">Cartel</a> of private banks (also called a private banking cartel) established to protect powerful financial interests, fears of inflation, high government deficits, and whether the Federal Reserve's actions increased the severity of the Great Depression in the 1930s (and/or the severity or frequency of other <a href="/wiki/Boom_and_bust" class="mw-redirect" title="Boom and bust">boom-bust</a> economic cycles, such as the <a href="/wiki/Late_2000s_recession" class="mw-redirect" title="Late 2000s recession">late 2000s recession</a>).<sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Federal_Reserve_Act&action=edit&section=13" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFSprague1914" class="citation journal cs1">Sprague, O. M. W. 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W. W. Horton and Company.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Rise+of+American+Democracy%3A+Jefferson+to+Lincoln&rft.pub=W.+W.+Horton+and+Company&rft.date=2006-09-17&rft.aulast=Wilentz&rft.aufirst=Sean&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFederal+Reserve+Act" class="Z3988"></span></span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.federalreservehistory.org/essays/panic-of-1907">"The Panic of 1907"</a>. <i>Federal Reserve History</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Federal+Reserve+History&rft.atitle=The+Panic+of+1907&rft_id=https%3A%2F%2Fwww.federalreservehistory.org%2Fessays%2Fpanic-of-1907&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFederal+Reserve+Act" class="Z3988"></span></span> </li> <li id="cite_note-Commission-6"><span class="mw-cite-backlink">^ <a href="#cite_ref-Commission_6-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Commission_6-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://llsdc.org/attachments/files/124/FRA-LH_S-Doc-62-243.pdf">Report of the National Monetary Commission</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20100609015132/http://www.llsdc.org/attachments/files/124/FRA-LH_S-Doc-62-243.pdf">Archived</a> 2010-06-09 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>. January 9, 1912, letter from the Secretary of the Commission and a draft bill to incorporate the National Reserve Association of the United States, and for other purposes. Sen. Doc. No. 243. 62nd Congress. U.S. Government Printing Office. 1912.</span> </li> <li id="cite_note-Whitehouse-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-Whitehouse_7-0">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://www.minneapolisfed.org/publications_papers/pub_display.cfm?id=3815">Paul Warburg's Crusade to Establish a Central Bank in the United States</a> Michael A. Whitehouse, 1989. In attendance at the meeting were Aldrich; <a href="/wiki/Paul_Warburg" title="Paul Warburg">Paul Warburg</a>; <a href="/wiki/Frank_A._Vanderlip" title="Frank A. Vanderlip">Frank A. Vanderlip</a>, president of National City Bank; <a href="/wiki/Henry_P._Davison" class="mw-redirect" title="Henry P. Davison">Henry P. Davison</a>, a J.P. Morgan partner; <a href="/wiki/Benjamin_Strong" class="mw-redirect" title="Benjamin Strong">Benjamin Strong</a>, vice president of Banker's Trust Co.; and <a href="/wiki/A._Piatt_Andrew" title="A. Piatt Andrew">A. Piatt Andrew</a>, former secretary of the National Monetary Commission and then assistant secretary of the Treasury.</span> </li> <li id="cite_note-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-8">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWicker2005" class="citation journal cs1">Wicker, Elmus (2005). "The Great Debate on Banking Reform: Nelson Aldrich and the Origins of the Fed". Ohio University Press.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=The+Great+Debate+on+Banking+Reform%3A+Nelson+Aldrich+and+the+Origins+of+the+Fed&rft.date=2005&rft.aulast=Wicker&rft.aufirst=Elmus&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFederal+Reserve+Act" class="Z3988"></span> <span class="cs1-visible-error citation-comment"><code class="cs1-code">{{<a href="/wiki/Template:Cite_journal" title="Template:Cite journal">cite journal</a>}}</code>: </span><span class="cs1-visible-error citation-comment">Cite journal requires <code class="cs1-code">|journal=</code> (<a href="/wiki/Help:CS1_errors#missing_periodical" title="Help:CS1 errors">help</a>)</span> See also <a rel="nofollow" class="external text" href="http://eh.net/bookreviews/library/1104">book review</a>.</span> </li> <li id="cite_note-Pujo-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-Pujo_9-0">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://fraser.stlouisfed.org/title/80">Money Trust Investigation</a> – Investigations of Financial and Monetary Conditions in the United States under House Resolutions Nos. 429 and 504 before a subcommittee of the House Committee on Banking and Currency. 27 Parts. U.S. Government Printing Office. 1913.</span> </li> <li id="cite_note-H-Rept-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-H-Rept_10-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20110927113502/http://www.llsdc.org/attachments/files/109/FRA-LH_H-Rpt-63-69-pp-1-74.pdf">"Archived copy"</a> <span class="cs1-format">(PDF)</span>. Archived from <a rel="nofollow" class="external text" href="http://www.llsdc.org/attachments/files/109/FRA-LH_H-Rpt-63-69-pp-1-74.pdf">the original</a> <span class="cs1-format">(PDF)</span> on 2011-09-27<span class="reference-accessdate">. Retrieved <span class="nowrap">2009-08-20</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Archived+copy&rft_id=http%3A%2F%2Fwww.llsdc.org%2Fattachments%2Ffiles%2F109%2FFRA-LH_H-Rpt-63-69-pp-1-74.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFederal+Reserve+Act" class="Z3988"></span><span class="cs1-maint citation-comment"><code class="cs1-code">{{<a href="/wiki/Template:Cite_web" title="Template:Cite web">cite web</a>}}</code>: CS1 maint: archived copy as title (<a href="/wiki/Category:CS1_maint:_archived_copy_as_title" title="Category:CS1 maint: archived copy as title">link</a>)</span></span> </li> <li id="cite_note-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-11">^</a></b></span> <span class="reference-text">Parthemos, James. <a rel="nofollow" class="external text" href="http://www.richmondfed.org/publications/research/economic_review/1988/pdf/er740403.pdf">"The Federal Reserve Act of 1913 in the Stream of U.S. Economic History"</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20121019100835/http://www.richmondfed.org/publications/research/economic_review/1988/pdf/er740403.pdf">Archived</a> 2012-10-19 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>, Federal Reserve of Richmond Economic Review, Richmond, July 1987. Retrieved on 11 November 2013.</span> </li> <li id="cite_note-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-12">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFShaw2019" class="citation book cs1"><a href="/wiki/Christopher_W._Shaw" title="Christopher W. Shaw">Shaw, Christopher W.</a> (2019). <a rel="nofollow" class="external text" href="https://press.uchicago.edu/ucp/books/book/chicago/M/bo38871708.html"><i>Money, Power, and the People: The American Struggle to Make Banking Democratic</i></a>. Chicago: University of Chicago Press. pp. <span class="nowrap">75–</span>82. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0226636337" title="Special:BookSources/978-0226636337"><bdi>978-0226636337</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Money%2C+Power%2C+and+the+People%3A+The+American+Struggle+to+Make+Banking+Democratic&rft.place=Chicago&rft.pages=%3Cspan+class%3D%22nowrap%22%3E75-%3C%2Fspan%3E82&rft.pub=University+of+Chicago+Press&rft.date=2019&rft.isbn=978-0226636337&rft.aulast=Shaw&rft.aufirst=Christopher+W.&rft_id=https%3A%2F%2Fpress.uchicago.edu%2Fucp%2Fbooks%2Fbook%2Fchicago%2FM%2Fbo38871708.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFederal+Reserve+Act" class="Z3988"></span></span> </li> <li id="cite_note-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-13">^</a></b></span> <span class="reference-text">Clements 1992, pp. 40–42</span> </li> <li id="cite_note-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-14">^</a></b></span> <span class="reference-text">Heckscher 1991, pp. 316-17.</span> </li> <li id="cite_note-15"><span class="mw-cite-backlink"><b><a href="#cite_ref-15">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWillis1914" class="citation journal cs1">Willis, Henry Parker (1914). <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/1804981">"The Federal Reserve Act"</a>. <i>The American Economic Review</i>. <b>4</b> (1): <span class="nowrap">1–</span>24. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0002-8282">0002-8282</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+American+Economic+Review&rft.atitle=The+Federal+Reserve+Act&rft.volume=4&rft.issue=1&rft.pages=%3Cspan+class%3D%22nowrap%22%3E1-%3C%2Fspan%3E24&rft.date=1914&rft.issn=0002-8282&rft.aulast=Willis&rft.aufirst=Henry+Parker&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F1804981&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFederal+Reserve+Act" class="Z3988"></span></span> </li> <li id="cite_note-16"><span class="mw-cite-backlink"><b><a href="#cite_ref-16">^</a></b></span> <span class="reference-text">Link 1954, pp. 43–53</span> </li> <li id="cite_note-17"><span class="mw-cite-backlink"><b><a href="#cite_ref-17">^</a></b></span> <span class="reference-text">Clements 1992, pp. 42–44</span> </li> <li id="cite_note-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-18">^</a></b></span> <span class="reference-text">Federal Reserve. <a rel="nofollow" class="external text" href="https://www.federalreserve.gov/aboutthefed/section2.htm">"Federal Reserve Act, Section 2"</a></span> </li> <li id="cite_note-19"><span class="mw-cite-backlink"><b><a href="#cite_ref-19">^</a></b></span> <span class="reference-text">Raymond Fishe. 1991. <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/1992748">The Federal Reserve Amendments of 1917: The Beginning of a Seasonal Note Issue Policy</a>. <i><a href="/wiki/Journal_of_Money,_Credit_and_Banking" title="Journal of Money, Credit and Banking">Journal of Money, Credit and Banking</a></i> 23:3, Part 1 (Aug., 1991), pp. 308-326. (On jstor]).</span> </li> <li id="cite_note-20"><span class="mw-cite-backlink"><b><a href="#cite_ref-20">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://fraser.stlouisfed.org/files/docs/publications/FRB/1910s/frb_071917.pdf"><i>Federal Reserve Bulletin</i> 3:7, 1 July 1917</a>.</span> </li> <li id="cite_note-21"><span class="mw-cite-backlink"><b><a href="#cite_ref-21">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://fraser.stlouisfed.org/title/975">"Federal Reserve Act | Title | FRASER | St. Louis Fed"</a>. Fraser.stlouisfed.org<span class="reference-accessdate">. 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"Origins of the Federal Reserve System: International Incentives and the Domestic Free Rider Problem". <i>International Organization</i>. <b>53</b> (1): <span class="nowrap">39–</span>70. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1162%2F002081899550805">10.1162/002081899550805</a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/2601371">2601371</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:155001158">155001158</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=International+Organization&rft.atitle=Origins+of+the+Federal+Reserve+System%3A+International+Incentives+and+the+Domestic+Free+Rider+Problem&rft.volume=53&rft.issue=1&rft.pages=%3Cspan+class%3D%22nowrap%22%3E39-%3C%2Fspan%3E70&rft.date=1999&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A155001158%23id-name%3DS2CID&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F2601371%23id-name%3DJSTOR&rft_id=info%3Adoi%2F10.1162%2F002081899550805&rft.aulast=Broz&rft.aufirst=J.+Lawrence&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFederal+Reserve+Act" class="Z3988"></span></span> </li> <li id="cite_note-24"><span class="mw-cite-backlink"><b><a href="#cite_ref-24">^</a></b></span> <span class="reference-text">Roger T. Johnson, <i>Historical Beginnings... The Federal Reserve</i>, p. 14, Federal Reserve Bank of Boston (1999), at <a rel="nofollow" class="external autonumber" href="http://www.bos.frb.org/about/pubs/begin.pdf">[1]</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20101225064903/http://www.bos.frb.org/about/pubs/begin.pdf">Archived</a> 2010-12-25 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>.</span> </li> <li id="cite_note-25"><span class="mw-cite-backlink"><b><a href="#cite_ref-25">^</a></b></span> <span class="reference-text">Elias, Early and Jordá, Óscar. <a rel="nofollow" class="external text" href="http://www.frbsf.org/economic-research/publications/economic-letter/2013/may/crises-before-after-creation-fed/">"Crisis Before and After the Creation of the Fed" FRBSF Economic Letter, May 6, 2013</a></span> </li> <li id="cite_note-26"><span class="mw-cite-backlink"><b><a href="#cite_ref-26">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFriedmanSchwartz1963" class="citation book cs1"><a href="/wiki/Milton_Friedman" title="Milton Friedman">Friedman, Milton</a>; <a href="/wiki/Anna_Jacobson_Schwartz" class="mw-redirect" title="Anna Jacobson Schwartz">Schwartz, Anna Jacobson</a> (1963). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=Q7J_EUM3RfoC&pg=PA244"><i>A Monetary History of the United States, 1867–1960</i></a>. <a href="/wiki/National_Bureau_of_Economic_Research" title="National Bureau of Economic Research">National Bureau of Economic Research</a>. <a href="/wiki/Princeton_University_Press" title="Princeton University Press">Princeton University Press</a>. p. 244. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-691-04147-4" title="Special:BookSources/0-691-04147-4"><bdi>0-691-04147-4</bdi></a>. <a href="/wiki/LCCN_(identifier)" class="mw-redirect" title="LCCN (identifier)">LCCN</a> <a rel="nofollow" class="external text" href="https://lccn.loc.gov/63-7521">63-7521</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=A+Monetary+History+of+the+United+States%2C+1867%E2%80%931960&rft.series=National+Bureau+of+Economic+Research&rft.pages=244&rft.pub=Princeton+University+Press&rft.date=1963&rft_id=info%3Alccn%2F63-7521&rft.isbn=0-691-04147-4&rft.aulast=Friedman&rft.aufirst=Milton&rft.au=Schwartz%2C+Anna+Jacobson&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DQ7J_EUM3RfoC%26pg%3DPA244&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFederal+Reserve+Act" class="Z3988"></span></span> </li> <li id="cite_note-27"><span class="mw-cite-backlink"><b><a href="#cite_ref-27">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHsiehRomer2006" class="citation journal cs1">Hsieh, Chang Tai; <a href="/wiki/Christina_D._Romer" class="mw-redirect" title="Christina D. Romer">Romer, Christina D.</a> (2006). <a rel="nofollow" class="external text" href="http://faculty.chicagobooth.edu/chang-tai.hsieh/research/jeh%201932%20omo.pdf">"Was the Federal Reserve Constrained by the Gold Standard During the Great Depression? Evidence from the 1932 Open Market Program"</a> <span class="cs1-format">(PDF)</span>. <i><a href="/wiki/Journal_of_Economic_History" class="mw-redirect" title="Journal of Economic History">Journal of Economic History</a></i>. <b>66</b> (1): <span class="nowrap">140–</span>176. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1017%2FS0022050706000064">10.1017/S0022050706000064</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:6337216">6337216</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Economic+History&rft.atitle=Was+the+Federal+Reserve+Constrained+by+the+Gold+Standard+During+the+Great+Depression%3F+Evidence+from+the+1932+Open+Market+Program&rft.volume=66&rft.issue=1&rft.pages=%3Cspan+class%3D%22nowrap%22%3E140-%3C%2Fspan%3E176&rft.date=2006&rft_id=info%3Adoi%2F10.1017%2FS0022050706000064&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A6337216%23id-name%3DS2CID&rft.aulast=Hsieh&rft.aufirst=Chang+Tai&rft.au=Romer%2C+Christina+D.&rft_id=http%3A%2F%2Ffaculty.chicagobooth.edu%2Fchang-tai.hsieh%2Fresearch%2Fjeh%25201932%2520omo.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFederal+Reserve+Act" class="Z3988"></span></span> </li> <li id="cite_note-28"><span class="mw-cite-backlink"><b><a href="#cite_ref-28">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRichardsonTroost2009" class="citation journal cs1">Richardson, Gary; Troost, William (2009). "Monetary Intervention Mitigated Banking Panics during the Great Depression: Quasi-Experimental Evidence from a Federal Reserve District Border, 1929–1933". <i><a href="/wiki/Journal_of_Political_Economy" title="Journal of Political Economy">Journal of Political Economy</a></i>. <b>117</b> (6): <span class="nowrap">1031–</span>1073. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1086%2F649603">10.1086/649603</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:154627950">154627950</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Political+Economy&rft.atitle=Monetary+Intervention+Mitigated+Banking+Panics+during+the+Great+Depression%3A+Quasi-Experimental+Evidence+from+a+Federal+Reserve+District+Border%2C+1929%E2%80%931933&rft.volume=117&rft.issue=6&rft.pages=%3Cspan+class%3D%22nowrap%22%3E1031-%3C%2Fspan%3E1073&rft.date=2009&rft_id=info%3Adoi%2F10.1086%2F649603&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A154627950%23id-name%3DS2CID&rft.aulast=Richardson&rft.aufirst=Gary&rft.au=Troost%2C+William&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFederal+Reserve+Act" class="Z3988"></span></span> </li> <li id="cite_note-29"><span class="mw-cite-backlink"><b><a href="#cite_ref-29">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWheelock" class="citation journal cs1">Wheelock, David C. <a rel="nofollow" class="external text" href="http://research.stlouisfed.org/publications/review/92/03/Depression_Mar_Apr1992.pdf">"Monetary Policy in the Great Depression: What the Fed Did, and Why"</a> <span class="cs1-format">(PDF)</span>. <i>Federal Reserve Bank of St. Louis Review</i>: <span class="nowrap">3–</span>28.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Federal+Reserve+Bank+of+St.+Louis+Review&rft.atitle=Monetary+Policy+in+the+Great+Depression%3A+What+the+Fed+Did%2C+and+Why&rft.pages=%3Cspan+class%3D%22nowrap%22%3E3-%3C%2Fspan%3E28&rft.aulast=Wheelock&rft.aufirst=David+C.&rft_id=http%3A%2F%2Fresearch.stlouisfed.org%2Fpublications%2Freview%2F92%2F03%2FDepression_Mar_Apr1992.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFederal+Reserve+Act" class="Z3988"></span></span> </li> </ol></div></div> <div class="mw-heading mw-heading3"><h3 id="Works_cited">Works cited</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Federal_Reserve_Act&action=edit&section=14" title="Edit section: Works cited"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFClements1992" class="citation book cs1">Clements, Kendrick A. (1992). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/presidencyofwood00clem"><i>The Presidency of Woodrow Wilson</i></a></span>. University Press of Kansas. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-7006-0523-1" title="Special:BookSources/978-0-7006-0523-1"><bdi>978-0-7006-0523-1</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Presidency+of+Woodrow+Wilson&rft.pub=University+Press+of+Kansas&rft.date=1992&rft.isbn=978-0-7006-0523-1&rft.aulast=Clements&rft.aufirst=Kendrick+A.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fpresidencyofwood00clem&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFederal+Reserve+Act" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHeckscher1991" class="citation book cs1">Heckscher, August (1991). <i>Woodrow Wilson</i>. Easton Press.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Woodrow+Wilson&rft.pub=Easton+Press&rft.date=1991&rft.aulast=Heckscher&rft.aufirst=August&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFederal+Reserve+Act" class="Z3988"></span></li> <li><a href="/wiki/Arthur_S._Link" title="Arthur S. Link">Link, Arthur S.</a> <i>Woodrow Wilson and the Progressive Era, 1910–1917</i> (1954) <a rel="nofollow" class="external text" href="https://archive.org/details/woodrowwilsonpr00link">online</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Federal_Reserve_Act&action=edit&section=15" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a rel="nofollow" class="external text" href="https://www.govinfo.gov/content/pkg/COMPS-270/uslm/COMPS-270.xml">Federal Reserve Act</a> (<a rel="nofollow" class="external text" href="https://www.govinfo.gov/content/pkg/COMPS-270/pdf/COMPS-270.pdf">PDF</a>/<a rel="nofollow" class="external text" href="https://www.govinfo.gov/app/details/COMPS-270/">details</a>) as amended in the <a href="/wiki/United_States_Government_Publishing_Office" title="United States Government Publishing Office">GPO</a> <a rel="nofollow" class="external text" href="https://www.govinfo.gov/help/comps">Statute Compilations collection</a></li> <li><a rel="nofollow" class="external text" href="https://www.federalreserve.gov/generalinfo/fract/">Text of the current Federal Reserve Act</a>, Board of Governors of the Federal Reserve System.</li> <li><a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/html/uscode12/usc_sup_01_12_10_3.html">Text of Federal Reserve Act as laid out in the U.S. Code</a>, Cornell Law School.</li> <li><a rel="nofollow" class="external text" href="https://fraser.stlouisfed.org/title/966">The original Federal Reserve Act</a>, including the signature of Woodrow Wilson</li> <li><a rel="nofollow" class="external text" href="https://fraser.stlouisfed.org/title/975">The original Federal Reserve Act</a>, and index</li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20080516102112/http://minneapolisfed.org/pubs/region/89-05/reg895d.cfm">Paul Warburg's Crusade to Establish a Central Bank in the United States</a> by Michael A. Whitehouse, 1989.</li> <li><a rel="nofollow" class="external text" href="http://www.frbsf.org/publications/federalreserve/fedinbrief/index.html">The Federal Reserve System In Brief</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20080121043238/http://www.frbsf.org/publications/federalreserve/fedinbrief/index.html">Archived</a> 2008-01-21 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> – An online publication from the Federal Reserve Bank of San Francisco.</li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20100324115751/http://www.llsdc.org/FRA%2DLH/">The Federal Reserve Act of 1913 – A Legislative History</a>, Law Librarians' Society of Washington, DC, Inc., 2009</li> <li><a rel="nofollow" class="external text" href="https://fraser.stlouisfed.org/theme/32">Historical documents related to the Federal Reserve Act and subsequent amendments</a></li></ul> <style 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class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Money_and_central_banking_within_the_contemporary_United_States_(pre%E2%80%931913)" title="Template:Money and central banking within the contemporary United States (pre–1913)"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/w/index.php?title=Template_talk:Money_and_central_banking_within_the_contemporary_United_States_(pre%E2%80%931913)&action=edit&redlink=1" class="new" title="Template talk:Money and central banking within the contemporary United States (pre–1913) (page does not exist)"><abbr title="Discuss 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policy of the United States</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Commercial_Revolution" class="mw-redirect" title="Commercial Revolution">Commercial Revolution</a><br />(1607–1760)</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bills_of_credit" title="Bills of credit">Bills of credit</a> (c. 1690–1750)</li> <li><a href="/wiki/Tobacco_Inspection_Act" title="Tobacco Inspection Act">Tobacco Inspection Act</a> (1730)</li> <li><a href="/wiki/Maryland_Tobacco_Inspection_Act_of_1747" title="Maryland Tobacco Inspection Act of 1747">Maryland Tobacco Inspection Act of 1747</a></li> <li><a href="/wiki/Currency_Act" title="Currency Act">Currency Acts</a> (1751; 1764)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Industrial_Revolution" title="Industrial Revolution">1st Industrial Revolution</a><br />(1760–1840)</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Second_Continental_Congress" title="Second Continental Congress">Second Continental Congress</a> (1776–1780)</li> <li><a href="/wiki/Banknotes_of_the_United_States_dollar" title="Banknotes of the United States dollar">U.S. dollar banknotes</a> (1775–)</li> <li><a href="/wiki/Continental_currency_banknotes" title="Continental currency banknotes">Continental currency banknotes</a> (1775–1779)</li> <li><a href="/wiki/Bank_of_Pennsylvania" title="Bank of Pennsylvania">Bank of Pennsylvania</a> (1780–1781)</li> <li><a href="/wiki/Superintendent_of_Finance_of_the_United_States" title="Superintendent of Finance of the United States">U.S. Finance Superintendent</a> (1781–1785)</li> <li><a href="/wiki/Bank_of_North_America" title="Bank of North America">Bank of North America</a> (1781–1791)</li> <li><a href="/wiki/Article_One_of_the_United_States_Constitution" title="Article One of the United States Constitution">Article I of the U.S. Constitution</a> <ul><li>1787–1788; <a href="/wiki/Article_One_of_the_United_States_Constitution#Section_8:_Powers_of_Congress" title="Article One of the United States Constitution">Section VIII</a></li> <li><a href="/wiki/Article_One_of_the_United_States_Constitution#Section_10:_Limits_on_the_States" title="Article One of the United States Constitution">Section X</a></li></ul></li> <li><a href="/wiki/United_States_Department_of_the_Treasury" title="United States Department of the Treasury">U.S. Treasury Department</a> <ul><li>1789–1913; <a href="/wiki/United_States_Secretary_of_the_Treasury" title="United States Secretary of the Treasury">U.S. Treasury Secretary</a></li></ul></li> <li><a href="/wiki/United_States_Treasury_security" title="United States Treasury security">U.S. Treasury security</a> (1789–present)</li> <li><a href="/wiki/Bank_Bill_of_1791" title="Bank Bill of 1791">Bank Bill of 1791</a></li> <li><a href="/wiki/First_Bank_of_the_United_States" title="First Bank of the United States">First Bank of the United States</a> (1791–1811)</li> <li><a href="/wiki/Coinage_Act_of_1792" title="Coinage Act of 1792">Coinage Act of 1792</a></li> <li><a href="/wiki/United_States_Mint" title="United States Mint">United States Mint</a> (1792–1873)</li> <li><a href="/wiki/Coins_of_the_United_States_dollar" title="Coins of the United States dollar">U.S. dollar coins</a> (1792–)</li> <li><a href="/wiki/Half_dime" title="Half dime">Half dime</a> (1792–1873)</li> <li><a href="/wiki/1792_half_disme" title="1792 half disme">1792 half disme</a></li> <li><a href="/wiki/Half_cent_(United_States_coin)" title="Half cent (United States coin)">Half cent</a> (1793–1857)</li> <li><a href="/wiki/Large_cent" title="Large cent">Large cent</a> (1793–1857)</li> <li><a href="/wiki/Treasury_Note_(19th_century)" title="Treasury Note (19th century)">Treasury Note</a> (1812–1913)</li> <li><a href="/wiki/Banking_in_the_Jacksonian_Era" title="Banking in the Jacksonian Era">Banking in the Jacksonian Era</a> <ul><li><a href="/wiki/Second_Bank_of_the_United_States" title="Second Bank of the United States">Second Bank of the United States</a>, 1816–1836</li> <li><a href="/wiki/Suffolk_Bank" title="Suffolk Bank">Suffolk Bank</a>, 1818–1858</li> <li><i><a href="/wiki/McCulloch_v._Maryland" title="McCulloch v. Maryland">McCulloch v. Maryland</a></i>, 1819</li> <li><a href="/wiki/Safety_Fund_System" title="Safety Fund System">New York Safety Fund System</a>, 1829–1842</li> <li><a href="/wiki/Bank_War" title="Bank War">Bank War</a>, 1832–1836</li> <li><a href="/wiki/Coinage_Act_of_1834" title="Coinage Act of 1834">Coinage Act of 1834</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/History_of_the_United_States_(1849%E2%80%931865)" title="History of the United States (1849–1865)">Civil War Era</a><br />(1840–1870)</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Free_banking" title="Free banking">Free banking</a> (1836–1865)</li> <li><a href="/wiki/Wildcat_banking" title="Wildcat banking">Wildcat banking</a> (1836–1865)</li> <li><a href="/wiki/The_Forstall_System" title="The Forstall System">Forstall System</a> (1842–1865)</li> <li><a href="/wiki/Independent_Treasury" title="Independent Treasury">Independent U.S. Treasury</a> (1846–1913)</li> <li><a href="/wiki/Coinage_Act_of_1849" title="Coinage Act of 1849">Coinage Act of 1849</a></li> <li><a href="/wiki/Three-cent_silver" title="Three-cent silver">Three-cent silver</a> (1851–1873)</li> <li><a href="/wiki/Coinage_Act_of_1853" title="Coinage Act of 1853">Coinage Act of 1853</a></li> <li><a href="/wiki/The_Clearing_House" title="The Clearing House">New York Clearing House Association</a> (1853–1863)</li> <li><a href="/wiki/Coinage_Act_of_1857" title="Coinage Act of 1857">Coinage Act of 1857</a></li> <li><a href="/wiki/Demand_Note" title="Demand Note">Demand Note</a> (1861–1862)</li> <li><a href="/wiki/Legal_Tender_Cases" title="Legal Tender Cases">Legal Tender Act of 1862</a></li> <li><a href="/wiki/United_States_Note" title="United States Note">United States Note</a> (1862–1971)</li> <li><a href="/wiki/Fractional_currency" title="Fractional currency">Fractional currency</a> (1862–1876)</li> <li><a href="/wiki/National_Bank_Act" title="National Bank Act">National Bank Acts</a> (1863; 1864)</li> <li><a href="/wiki/Interest_bearing_note" title="Interest bearing note">Interest bearing note</a> (1863–1865)</li> <li><a href="/wiki/History_of_central_banking_in_the_United_States" title="History of central banking in the United States">National banks system</a> (1863–1913)</li> <li><a href="/wiki/National_Bank_Note" title="National Bank Note">National Bank Note</a> (1863–c. 1930)</li> <li><a href="/wiki/Gold_certificate_(United_States)" title="Gold certificate (United States)">Gold certificate</a> (1863–1933)</li> <li><a href="/wiki/Compound_interest_treasury_note" title="Compound interest treasury note">Compound interest treasury note</a> (1863–1864)</li> <li><a href="/wiki/Coinage_Act_of_1864" title="Coinage Act of 1864">Coinage Act of 1864</a></li> <li><a href="/wiki/Two-cent_piece_(United_States)" title="Two-cent piece (United States)">Two-cent piece</a> (1864–1873)</li> <li><a href="/wiki/Three-cent_nickel" title="Three-cent nickel">Three-cent nickel</a> (1865–1889)</li> <li><a href="/wiki/Contraction_Act_of_1866" title="Contraction Act of 1866">Contraction Act of 1866</a></li> <li><a href="/wiki/Public_Credit_Act_of_1869" title="Public Credit Act of 1869">Public Credit Act of 1869</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Second_Industrial_Revolution" title="Second Industrial Revolution">2nd Industrial Revolution</a><br />(1870–1914)</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><i><a href="/wiki/Legal_Tender_Cases" title="Legal Tender Cases">Legal Tender Cases</a></i></li> <li><i><a href="/wiki/Hepburn_v._Griswold" title="Hepburn v. Griswold">Hepburn v. Griswold</a></i> (1870)</li> <li><a href="/wiki/Currency_Act_of_1870" title="Currency Act of 1870">Currency Act of 1870</a></li> <li><a href="/wiki/National_Gold_Bank_Note" title="National Gold Bank Note">National Gold Bank Note</a> (1870–1875)</li> <li><i><a href="/wiki/Knox_v._Lee" title="Knox v. Lee">Knox v. Lee</a></i> (1871)</li> <li><a href="/wiki/Coinage_Act_of_1873" title="Coinage Act of 1873">Coinage Act of 1873</a></li> <li><a href="/wiki/Free_silver" title="Free silver">Free silver</a></li> <li><a href="/wiki/Specie_Payment_Resumption_Act" title="Specie Payment Resumption Act">Specie Payment Resumption Act</a> (1875)</li> <li><a href="/wiki/Twenty-cent_piece_(United_States_coin)" title="Twenty-cent piece (United States coin)">Twenty-cent piece</a> (1875–1878)</li> <li><a href="/wiki/Bland%E2%80%93Allison_Act" title="Bland–Allison Act">Bland–Allison Act</a> (1878)</li> <li><a href="/wiki/Silver_certificate_(United_States)" title="Silver certificate (United States)">Silver certificate</a> (1878–1964)</li> <li><a href="/wiki/Refunding_Certificate" title="Refunding Certificate">Refunding Certificate</a> (1879–1907)</li> <li><i><a href="/wiki/Juilliard_v._Greenman" title="Juilliard v. Greenman">Juilliard v. Greenman</a></i> (1884)</li> <li><a href="/wiki/Sherman_Silver_Purchase_Act" title="Sherman Silver Purchase Act">Sherman Silver Purchase Act</a> (1890)</li> <li><a href="/wiki/Treasury_Note_(1890%E2%80%931891)" title="Treasury Note (1890–1891)">Treasury Note</a> (1890–1891)</li> <li><a href="/wiki/Gold_Standard_Act" title="Gold Standard Act">Gold Standard Act</a> (1900)</li> <li><a href="/wiki/Aldrich%E2%80%93Vreeland_Act" title="Aldrich–Vreeland Act">Aldrich–Vreeland Act</a> (1908)</li> <li><a href="/wiki/National_Monetary_Commission" title="National Monetary Commission">National Monetary Commission</a> (1909–1912)</li> <li><a class="mw-selflink selflink">Federal Reserve Act</a> (1913)</li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Federal_Reserve_System542" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="3"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Federal_Reserve_System" title="Template:Federal Reserve System"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Federal_Reserve_System" title="Template talk:Federal Reserve System"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Federal_Reserve_System" title="Special:EditPage/Template:Federal Reserve System"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Federal_Reserve_System542" style="font-size:114%;margin:0 4em"><a href="/wiki/Federal_Reserve" title="Federal Reserve">Federal Reserve System</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="3"><div> <ul><li><a href="/wiki/Chair_of_the_Federal_Reserve" title="Chair of the Federal Reserve">Chair</a></li> <li><a href="/wiki/Vice_Chair_of_the_Federal_Reserve" title="Vice Chair of the Federal Reserve">Vice Chair</a></li> <li><a href="/wiki/Federal_Reserve_Board_of_Governors" title="Federal Reserve Board of Governors">Governors</a></li> <li><a href="/wiki/Federal_Reserve_Bank" title="Federal Reserve Bank">Federal Reserve Banks</a></li> <li><a href="/wiki/Federal_Open_Market_Committee" title="Federal Open Market Committee">Federal Open Market Committee</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Banknote" title="Banknote">Banknotes</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Federal_Reserve_Note" title="Federal Reserve Note">Federal Reserve Note</a></li> <li><a href="/wiki/Federal_Reserve_Bank_Note" title="Federal Reserve Bank Note">Federal Reserve Bank Note</a></li></ul> </div></td><td class="noviewer navbox-image" rowspan="8" style="width:1px;padding:0 0 0 2px"><div><span typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/1/1a/Seal_of_the_United_States_Federal_Reserve_System.svg/80px-Seal_of_the_United_States_Federal_Reserve_System.svg.png" decoding="async" width="80" height="80" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/1a/Seal_of_the_United_States_Federal_Reserve_System.svg/120px-Seal_of_the_United_States_Federal_Reserve_System.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/1a/Seal_of_the_United_States_Federal_Reserve_System.svg/160px-Seal_of_the_United_States_Federal_Reserve_System.svg.png 2x" data-file-width="249" data-file-height="249" /></span></span></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Reports</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Beige_Book" title="Beige Book">Beige Book</a></li> <li><a href="/wiki/Federal_Reserve_Statistical_Release" title="Federal Reserve Statistical Release">Federal Reserve Statistical Release</a></li> <li><a href="/wiki/Monetary_Policy_Report_to_the_Congress" title="Monetary Policy Report to the Congress">Monetary Policy Report to the Congress</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Federal funds</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Discount_window" title="Discount window">Discount window</a> <ul><li><a href="/wiki/Bank_rate" title="Bank rate">Bank rate</a></li></ul></li> <li><a href="/wiki/Federal_funds" title="Federal funds">Federal funds</a></li> <li><a href="/wiki/Federal_funds_rate" title="Federal funds rate">Federal funds rate</a> <ul><li><a href="/wiki/Overnight_rate" title="Overnight rate">Overnight rate</a></li></ul></li> <li><a href="/wiki/Primary_dealer" title="Primary dealer">Primary dealer</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/History_of_the_Federal_Reserve_System" title="History of the Federal Reserve System">History</a><br />(<a href="/wiki/History_of_central_banking_in_the_United_States" title="History of central banking in the United States">Antecedents</a>)</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Aldrich%E2%80%93Vreeland_Act" title="Aldrich–Vreeland Act">Aldrich–Vreeland Act</a> (1908)</li> <li><a href="/wiki/National_Monetary_Commission" title="National Monetary Commission">National Monetary Commission</a> (1909–1912)</li> <li><a class="mw-selflink selflink">Federal Reserve Act</a> (1913)</li> <li><a href="/wiki/Pittman_Act" title="Pittman Act">Pittman Act</a> (1918)</li> <li><a href="/wiki/Edge_Act" title="Edge Act">Edge Act</a> (1919)</li> <li><a href="/wiki/Phelan_Act_of_1920" title="Phelan Act of 1920">Phelan Act</a> (1920)</li> <li><a href="/wiki/Regulation_D_(FRB)" title="Regulation D (FRB)">Regulation D</a> (c. 1930)</li> <li><a href="/wiki/Emergency_Banking_Act" class="mw-redirect" title="Emergency Banking Act">Emergency Banking Act</a> (1933)</li> <li><a href="/wiki/Regulation_Q" title="Regulation Q">Regulation Q</a> (1933)</li> <li><a href="/wiki/1933_Banking_Act" title="1933 Banking Act">Glass–Steagall Act</a> (1933)</li> <li><a href="/wiki/Gold_Reserve_Act" title="Gold Reserve Act">Gold Reserve Act</a> (1934)</li> <li><a href="/wiki/Banking_Act_of_1935" title="Banking Act of 1935">Banking Act of 1935</a></li> <li><a href="/wiki/Bretton_Woods_system" title="Bretton Woods system">Bretton Woods system</a> (1944–1971)</li> <li><a href="/wiki/Employment_Act_of_1946" title="Employment Act of 1946">Employment Act of 1946</a></li> <li><a href="/wiki/History_of_the_Federal_Reserve_System" title="History of the Federal Reserve System">U.S. Treasury Department Accord</a> (1951)</li> <li><a href="/wiki/Bank_Holding_Company_Act" title="Bank Holding Company Act">Bank Holding Company Act</a> (1956)</li> <li><a href="/wiki/History_of_Federal_Open_Market_Committee_actions" title="History of Federal Open Market Committee actions">FOMC actions</a> (1961–present)</li> <li><a href="/wiki/Truth_in_Lending_Act" title="Truth in Lending Act">Truth in Lending Act</a> (1968)</li> <li><a href="/wiki/Nixon_shock" title="Nixon shock">Nixon shock</a> (1971)</li> <li><a href="/wiki/Smithsonian_Agreement" title="Smithsonian Agreement">Smithsonian Agreement</a> (1971)</li> <li><a href="/wiki/Equal_Credit_Opportunity_Act" title="Equal Credit Opportunity Act">Equal Credit Opportunity Act</a> (1974)</li> <li><a href="/wiki/Home_Mortgage_Disclosure_Act" title="Home Mortgage Disclosure Act">Home Mortgage Disclosure Act</a> (1975)</li> <li><a href="/wiki/Community_Reinvestment_Act" title="Community Reinvestment Act">Community Reinvestment Act</a> (1977)</li> <li><a href="/wiki/Federal_Reserve_Reform_Act_of_1977" title="Federal Reserve Reform Act of 1977">Federal Reserve Reform Act</a> (1977)</li> <li><a href="/wiki/Electronic_Fund_Transfer_Act" title="Electronic Fund Transfer Act">Electronic Fund Transfer Act</a> (1978)</li> <li><a href="/wiki/Humphrey%E2%80%93Hawkins_Full_Employment_Act" title="Humphrey–Hawkins Full Employment Act">Humphrey–Hawkins Full Employment Act</a> (1978)</li> <li><a href="/wiki/International_Banking_Act_of_1978" title="International Banking Act of 1978">International Banking Act</a> (1978)</li> <li><a href="/wiki/Depository_Institutions_Deregulation_and_Monetary_Control_Act" title="Depository Institutions Deregulation and Monetary Control Act">DIDMC Act</a> (1980)</li> <li><i><a href="/wiki/Board_of_Governors,_FRS_v._Investment_Co._Institute" title="Board of Governors, FRS v. Investment Co. Institute">Federal Reserve v. Investment Co. Institute</a></i> (1981)</li> <li><i><a href="/wiki/Bank_of_New_England" title="Bank of New England">Northeast Bancorp v. Federal Reserve</a></i> (1985)</li> <li><a href="/wiki/Greenspan_put" title="Greenspan put">Greenspan put</a> (1987)</li> <li><a href="/wiki/Expedited_Funds_Availability_Act" title="Expedited Funds Availability Act">Expedited Funds Availability Act</a> (1987)</li> <li><a href="/wiki/Financial_Institutions_Reform,_Recovery,_and_Enforcement_Act_of_1989" title="Financial Institutions Reform, Recovery, and Enforcement Act of 1989">FIRRE Act</a> (1989)</li> <li><a href="/wiki/Federal_Deposit_Insurance_Corporation_Improvement_Act_of_1991" title="Federal Deposit Insurance Corporation Improvement Act of 1991">FDIC Improvement Act</a> (1991)</li> <li><a href="/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act" title="Gramm–Leach–Bliley Act">Gramm–Leach–Bliley Act</a> (1999)</li> <li><a href="/wiki/Federal_Reserve_responses_to_the_subprime_crisis" title="Federal Reserve responses to the subprime crisis">Subprime mortgage crisis responses</a> (2007–2010)</li> <li><a href="/wiki/Emergency_Economic_Stabilization_Act_of_2008" title="Emergency Economic Stabilization Act of 2008">Emergency Economic Stabilization Act</a> (2008)</li> <li><a href="/wiki/Unfair_or_Deceptive_Acts_or_Practices" title="Unfair or Deceptive Acts or Practices">Unfair or Deceptive Acts or Practices</a> (2008)</li> <li><a href="/wiki/Commercial_Paper_Funding_Facility" title="Commercial Paper Funding Facility">Commercial Paper Funding Facility</a> (2008–2010)</li> <li><a href="/wiki/Primary_Dealer_Credit_Facility" title="Primary Dealer Credit Facility">Primary Dealer Credit Facility</a> (2008–2010)</li> <li><i><a href="/wiki/Bloomberg_L.P._v._Board_of_Governors_of_the_Federal_Reserve_System" title="Bloomberg L.P. v. Board of Governors of the Federal Reserve System">Bloomberg v. Federal Reserve</a></i> (2009)</li> <li><a href="/wiki/2009_Supervisory_Capital_Assessment_Program" title="2009 Supervisory Capital Assessment Program">2009 Supervisory Capital Assessment Program</a></li> <li><a href="/wiki/Term_Asset-Backed_Securities_Loan_Facility" title="Term Asset-Backed Securities Loan Facility">Term Asset-Backed Securities Loan Facility</a> (2009–2010)</li> <li><a href="/wiki/Public%E2%80%93Private_Investment_Program_for_Legacy_Assets" title="Public–Private Investment Program for Legacy Assets">Public–Private Investment Program for Legacy Assets</a> (2009–)</li> <li><a href="/wiki/Dodd%E2%80%93Frank_Wall_Street_Reform_and_Consumer_Protection_Act" title="Dodd–Frank Wall Street Reform and Consumer Protection Act">Dodd–Frank Act</a> (2010; <a href="/wiki/Durbin_amendment" title="Durbin amendment">Durbin amendment</a>)</li> <li><a href="/wiki/Commercial_Paper_Funding_Facility" title="Commercial Paper Funding Facility">Commercial Paper Funding Facility</a> (2020–2021)</li> <li><i><a href="/wiki/Corner_Post,_Inc._v._Board_of_Governors_of_the_Federal_Reserve_System" title="Corner Post, Inc. v. Board of Governors of the Federal Reserve System">Corner Post v. Federal Reserve</a></i> (2024)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Chair_of_the_Federal_Reserve" title="Chair of the Federal Reserve">Chairs</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Charles_Sumner_Hamlin" title="Charles Sumner Hamlin">Charles S. Hamlin</a> (1914–1916)</li> <li><a href="/wiki/William_P._G._Harding" title="William P. G. Harding">William P. G. Harding</a> (1916–1922)</li> <li><a href="/wiki/Daniel_Richard_Crissinger" title="Daniel Richard Crissinger">Daniel R. Crissinger</a> (1923–1927)</li> <li><a href="/wiki/Roy_A._Young" title="Roy A. Young">Roy A. Young</a> (1927–1930)</li> <li><a href="/wiki/Eugene_Meyer_(financier)" title="Eugene Meyer (financier)">Eugene Meyer</a> (1930–1933)</li> <li><a href="/wiki/Eugene_Robert_Black" title="Eugene Robert Black">Eugene R. Black</a> (1933–1934)</li> <li><a href="/wiki/Marriner_S._Eccles" title="Marriner S. Eccles">Marriner S. Eccles</a> (1934–1948)</li> <li><a href="/wiki/Thomas_B._McCabe" title="Thomas B. McCabe">Thomas B. McCabe</a> (1948–1951)</li> <li><a href="/wiki/William_McChesney_Martin" title="William McChesney Martin">William M. Martin</a> (1951–1970)</li> <li><a href="/wiki/Arthur_F._Burns" title="Arthur F. Burns">Arthur F. Burns</a> (1970–1978)</li> <li><a href="/wiki/G._William_Miller" title="G. William Miller">G. William Miller</a> (1978–1979)</li> <li><a href="/wiki/Paul_Volcker" title="Paul Volcker">Paul Volcker</a> (1979–1987)</li> <li><a href="/wiki/Alan_Greenspan" title="Alan Greenspan">Alan Greenspan</a> (1987–2006)</li> <li><a href="/wiki/Ben_Bernanke" title="Ben Bernanke">Ben Bernanke</a> (2006–2014)</li> <li><a href="/wiki/Janet_Yellen" title="Janet Yellen">Janet Yellen</a> (2014–2018)</li> <li><a href="/wiki/Jerome_Powell" title="Jerome Powell">Jerome Powell</a> (2018–present)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Federal_Reserve_Board_of_Governors" title="Federal Reserve Board of Governors">Current<br />governors</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Jerome_Powell" title="Jerome Powell">Jerome Powell</a> (<a href="/wiki/Chair_of_the_Federal_Reserve" title="Chair of the Federal Reserve">Chair</a>)</li> <li><a href="/wiki/Philip_Jefferson" title="Philip Jefferson">Philip Jefferson</a> (<a href="/wiki/Vice_Chair_of_the_Federal_Reserve" title="Vice Chair of the Federal Reserve">Vice Chair</a>)</li> <li><a href="/wiki/Michelle_Bowman" title="Michelle Bowman">Michelle Bowman</a></li> <li><a href="/wiki/Christopher_Waller" title="Christopher Waller">Christopher Waller</a></li> <li><a href="/wiki/Lisa_D._Cook" title="Lisa D. Cook">Lisa D. Cook</a></li> <li><a href="/wiki/Michael_Barr_(U.S._official)" title="Michael Barr (U.S. official)">Michael Barr</a></li> <li><a href="/wiki/Adriana_Kugler" title="Adriana Kugler">Adriana Kugler</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Current presidents<br />(by district)</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Susan_M._Collins_(economist)" title="Susan M. Collins (economist)">Susan Collins</a> (<a href="/wiki/Federal_Reserve_Bank_of_Boston" title="Federal Reserve Bank of Boston">Boston</a>)</li> <li><a href="/wiki/John_C._Williams_(economist)" title="John C. Williams (economist)">John Williams</a> (<a href="/wiki/Federal_Reserve_Bank_of_New_York" title="Federal Reserve Bank of New York">New York</a>)</li> <li><a href="/wiki/Patrick_T._Harker" title="Patrick T. Harker">Patrick T. Harker</a> (<a href="/wiki/Federal_Reserve_Bank_of_Philadelphia" title="Federal Reserve Bank of Philadelphia">Philadelphia</a>)</li> <li><a href="/wiki/Beth_M._Hammack" title="Beth M. Hammack">Beth M. Hammack</a> (<a href="/wiki/Federal_Reserve_Bank_of_Cleveland" title="Federal Reserve Bank of Cleveland">Cleveland</a>)</li> <li><a href="/wiki/Thomas_Barkin" title="Thomas Barkin">Thomas Barkin</a> (<a href="/wiki/Federal_Reserve_Bank_of_Richmond" title="Federal Reserve Bank of Richmond">Richmond</a>)</li> <li><a href="/wiki/Raphael_Bostic" title="Raphael Bostic">Raphael Bostic</a> (<a href="/wiki/Federal_Reserve_Bank_of_Atlanta" title="Federal Reserve Bank of Atlanta">Atlanta</a>)</li> <li><a href="/wiki/Austan_Goolsbee" title="Austan Goolsbee">Austan Goolsbee</a> (<a href="/wiki/Federal_Reserve_Bank_of_Chicago" title="Federal Reserve Bank of Chicago">Chicago</a>)</li> <li><a href="/wiki/Alberto_Musalem" title="Alberto Musalem">Alberto Musalem</a> (<a href="/wiki/Federal_Reserve_Bank_of_St._Louis" title="Federal Reserve Bank of St. Louis">St. Louis</a>)</li> <li><a href="/wiki/Neel_Kashkari" title="Neel Kashkari">Neel Kashkari</a> (<a href="/wiki/Federal_Reserve_Bank_of_Minneapolis" title="Federal Reserve Bank of Minneapolis">Minneapolis</a>)</li> <li><a href="/wiki/Jeffrey_Schmid" title="Jeffrey Schmid">Jeff Schmid</a> (<a href="/wiki/Federal_Reserve_Bank_of_Kansas_City" title="Federal Reserve Bank of Kansas City">Kansas City</a>)</li> <li><a href="/wiki/Lorie_K._Logan" title="Lorie K. Logan">Lorie Logan</a> (<a href="/wiki/Federal_Reserve_Bank_of_Dallas" title="Federal Reserve Bank of Dallas">Dallas</a>)</li> <li><a href="/wiki/Mary_C._Daly" title="Mary C. Daly">Mary C. Daly</a> (<a href="/wiki/Federal_Reserve_Bank_of_San_Francisco" title="Federal Reserve Bank of San Francisco">San Francisco</a>)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Related</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Central_bank" title="Central bank">Central bank</a></li> <li><a href="/wiki/Criticism_of_the_Federal_Reserve" title="Criticism of the Federal Reserve">Criticism of the Federal Reserve</a></li> <li><a href="/wiki/Fed_model" title="Fed model">Fed model</a></li> <li><a href="/wiki/Fedspeak" title="Fedspeak">Fedspeak</a></li> <li><a href="/wiki/Fed_put" class="mw-redirect" title="Fed put">Fed put</a></li> <li><a href="/wiki/Jackson_Hole_Economic_Symposium" title="Jackson Hole Economic Symposium">Jackson Hole Economic Symposium</a></li> <li><a href="/wiki/Lender_of_last_resort" title="Lender of last resort">Lender of last resort</a></li> <li><a href="/wiki/Monetary_policy_of_the_United_States" title="Monetary policy of the United States">Monetary policy of the United States</a> <ul><li><a href="/wiki/History_of_monetary_policy_in_the_United_States" title="History of monetary policy in the United States">History</a></li></ul></li> <li><a href="/wiki/Personal_consumption_expenditures_price_index" title="Personal consumption expenditures price index">Personal consumption expenditures price index</a></li> <li><a href="/wiki/Sahm_rule" title="Sahm rule">Sahm rule</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Bank_regulation_in_the_United_States606" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Bank_regulation_in_the_United_States" title="Template:Bank regulation in the United States"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Bank_regulation_in_the_United_States" title="Template talk:Bank regulation in the United States"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Bank_regulation_in_the_United_States" title="Special:EditPage/Template:Bank regulation in the United States"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Bank_regulation_in_the_United_States606" style="font-size:114%;margin:0 4em"><a href="/wiki/Bank_regulation_in_the_United_States" title="Bank regulation in the United States">Bank regulation in the United States</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Federal authorities</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Consumer_Financial_Protection_Bureau" title="Consumer Financial Protection Bureau">Consumer Financial Protection Bureau</a></li> <li><a href="/wiki/Farm_Credit_Administration" title="Farm Credit Administration">Farm Credit Administration</a></li> <li><a href="/wiki/Federal_Deposit_Insurance_Corporation" title="Federal Deposit Insurance Corporation">Federal Deposit Insurance Corporation</a></li> <li><a href="/wiki/Federal_Financial_Institutions_Examination_Council" title="Federal Financial Institutions Examination Council">Federal Financial Institutions Examination Council</a></li> <li><a href="/wiki/Federal_Housing_Finance_Agency" title="Federal Housing Finance Agency">Federal Housing Finance Agency</a></li> <li><a href="/wiki/Federal_Reserve_Board_of_Governors" title="Federal Reserve Board of Governors">Federal Reserve Board of Governors</a></li> <li><a href="/wiki/Financial_Stability_Oversight_Council" title="Financial Stability Oversight Council">Financial Stability Oversight Council</a></li> <li><a href="/wiki/National_Credit_Union_Administration" title="National Credit Union Administration">National Credit Union Administration</a></li> <li><a href="/wiki/Office_of_the_Comptroller_of_the_Currency" title="Office of the Comptroller of the Currency">Office of the Comptroller of the Currency</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Major federal <br />legislation</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Independent_Treasury" title="Independent Treasury">Independent Treasury Act</a></li> <li><a href="/wiki/National_Bank_Act" title="National Bank Act">National Bank Act</a></li> <li><a class="mw-selflink selflink">Federal Reserve Act</a></li> <li><a href="/wiki/McFadden_Act" title="McFadden Act">McFadden Act</a></li> <li><a href="/wiki/1933_Banking_Act" title="1933 Banking Act">1933 Banking Act</a></li> <li><a href="/wiki/Glass%E2%80%93Steagall_legislation" title="Glass–Steagall legislation">Glass–Steagall Act</a></li> <li><a href="/wiki/Federal_Credit_Union_Act" title="Federal Credit Union Act">Federal Credit Union Act</a></li> <li><a href="/wiki/Bank_Holding_Company_Act" title="Bank Holding Company Act">Bank Holding Company Act</a></li> <li>Interest Rate Control Act of 1966</li> <li><a href="/wiki/Truth_in_Lending_Act" title="Truth in Lending Act">Truth in Lending Act</a></li> <li><a href="/wiki/Bank_Secrecy_Act" title="Bank Secrecy Act">Bank Secrecy Act</a></li> <li><a href="/wiki/Fair_Credit_Reporting_Act" title="Fair Credit Reporting Act">Fair Credit Reporting Act</a></li> <li><a href="/wiki/Home_Mortgage_Disclosure_Act" title="Home Mortgage Disclosure Act">Home Mortgage Disclosure Act</a></li> <li><a href="/wiki/Community_Reinvestment_Act" title="Community Reinvestment Act">Community Reinvestment Act</a></li> <li><a href="/wiki/Electronic_Fund_Transfer_Act" title="Electronic Fund Transfer Act">Electronic Fund Transfer Act</a></li> <li><a href="/wiki/Financial_Institutions_Regulatory_and_Interest_Rate_Control_Act_of_1978" title="Financial Institutions Regulatory and Interest Rate Control Act of 1978">Financial Institutions Regulatory and Interest Rate Control Act of 1978</a></li> <li><a href="/wiki/Depository_Institutions_Deregulation_and_Monetary_Control_Act" title="Depository Institutions Deregulation and Monetary Control Act">Monetary Control Act</a></li> <li><a href="/wiki/Garn%E2%80%93St._Germain_Depository_Institutions_Act" title="Garn–St. Germain Depository Institutions Act">Depository Institutions Act</a></li> <li>Competitive Equality Banking Act of 1987</li> <li><a href="/wiki/Financial_Institutions_Reform,_Recovery,_and_Enforcement_Act_of_1989" title="Financial Institutions Reform, Recovery, and Enforcement Act of 1989">FIRREA</a></li> <li><a href="/wiki/Federal_Deposit_Insurance_Corporation_Improvement_Act_of_1991" title="Federal Deposit Insurance Corporation Improvement Act of 1991">FDICIA</a></li> <li><a href="/wiki/Truth_in_Savings_Act" title="Truth in Savings Act">Truth in Savings Act</a></li> <li><a href="/wiki/Riegle-Neal_Interstate_Banking_and_Branching_Efficiency_Act_of_1994" class="mw-redirect" title="Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994">Riegle-Neal IBBEA</a></li> <li><a href="/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act" title="Gramm–Leach–Bliley Act">Gramm–Leach–Bliley Act</a></li> <li><a href="/wiki/Fair_and_Accurate_Credit_Transactions_Act" title="Fair and Accurate Credit Transactions Act">Fair and Accurate Credit Transactions Act</a></li> <li><a href="/wiki/Emergency_Economic_Stabilization_Act_of_2008" title="Emergency Economic Stabilization Act of 2008">Emergency Economic Stabilization Act</a></li> <li><a href="/wiki/Credit_CARD_Act_of_2009" title="Credit CARD Act of 2009">Credit CARD Act</a></li> <li><a href="/wiki/Dodd%E2%80%93Frank_Wall_Street_Reform_and_Consumer_Protection_Act" title="Dodd–Frank Wall Street Reform and Consumer Protection Act">Dodd–Frank</a></li> <li><a href="/wiki/Economic_Growth,_Regulatory_Relief,_and_Consumer_Protection_Act" title="Economic Growth, Regulatory Relief, and Consumer Protection Act">EGRRCPA</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Federal Reserve <br />Board regulations</div></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li>Extensions of Credit by Federal Reserve Banks (Reg A)</li> <li><a href="/wiki/Equal_Credit_Opportunity_Act" title="Equal Credit Opportunity Act">Equal Credit Opportunity (Reg B)</a></li> <li><a href="/wiki/Home_Mortgage_Disclosure_Act" title="Home Mortgage Disclosure Act">Home Mortgage Disclosure (Reg C)</a></li> <li><a href="/wiki/Regulation_D_(FRB)" title="Regulation D (FRB)">Reserve Requirements for Depository Institutions (Reg D)</a></li> <li><a href="/wiki/Electronic_Fund_Transfer_Act" title="Electronic Fund Transfer Act">Electronic Fund Transfer (Reg E)</a></li> <li>Limitations on Interbank Liabilities (Reg F)</li> <li>International Banking Operations (Reg K)</li> <li>Consumer Leasing (Reg M)</li> <li>Loans to Insiders (Reg O)</li> <li>Privacy of Consumer Financial Information (Reg P)</li> <li><a href="/wiki/Regulation_Q" title="Regulation Q">Prohibition Against the Paying of Interest on Demand Deposits (Reg Q)</a></li> <li>Credit by Brokers and Dealers (Reg T)</li> <li><span class="wrap">Credit by Banks and Persons Other Than Brokers or Dealers for the Purpose of Purchasing or Carrying Margin Stock (Reg U)</span></li> <li>Transactions Between Member Banks and Their Affiliates (Reg W)</li> <li>Borrowers of Securities Credit (Reg X)</li> <li><a href="/wiki/Truth_in_Lending_Act" title="Truth in Lending Act">Truth in Lending (Reg Z)</a></li> <li><a href="/wiki/Unfair_or_Deceptive_Acts_or_Practices" title="Unfair or Deceptive Acts or Practices">Unfair or Deceptive Acts or Practices (Reg AA)</a></li> <li><a href="/wiki/Community_Reinvestment_Act" title="Community Reinvestment Act">Community Reinvestment (Reg BB)</a></li> <li><a href="/wiki/Expedited_Funds_Availability_Act" title="Expedited Funds Availability Act">Availability of Funds and Collection of Checks (Reg CC)</a></li> <li><a href="/wiki/Truth_in_Savings_Act" title="Truth in Savings Act">Truth in Savings (Reg DD)</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Types of bank charter</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Credit_unions_in_the_United_States" title="Credit unions in the United States">Credit union</a></li> <li><a href="/wiki/Federal_savings_association" title="Federal savings association">Federal savings association</a></li> <li><a href="/wiki/National_bank_(United_States)" title="National bank (United States)">National bank</a></li> <li><a href="/wiki/State_bank_(United_States)" title="State bank (United States)">State bank</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">State authorities</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/California_Department_of_Financial_Protection_and_Innovation" title="California Department of Financial Protection and Innovation">California</a></li> <li><a href="/wiki/Colorado_Department_of_Regulatory_Agencies" title="Colorado Department of Regulatory Agencies">Colorado</a></li> <li><a href="/wiki/Florida_Department_of_Financial_Services" title="Florida Department of Financial Services">Florida</a></li> <li><a href="/wiki/Illinois_Department_of_Financial_and_Professional_Regulation" title="Illinois Department of Financial and Professional Regulation">Illinois</a></li> <li><a href="/wiki/Maryland_Department_of_Labor" title="Maryland Department of Labor">Maryland</a></li> <li><a href="/wiki/Michigan_Department_of_Insurance_and_Financial_Services" title="Michigan Department of Insurance and Financial Services">Michigan</a></li> <li><a href="/wiki/New_Hampshire_Banking_Department" title="New Hampshire Banking Department">New Hampshire</a></li> <li><a href="/wiki/New_Jersey_Department_of_Banking_and_Insurance" title="New Jersey Department of Banking and Insurance">New Jersey</a></li> <li><a href="/wiki/New_York_State_Department_of_Financial_Services" title="New York State Department of Financial Services">New York</a></li> <li><a href="/wiki/Ohio_Department_of_Commerce" title="Ohio Department of Commerce">Ohio</a></li> <li><a href="/wiki/Oklahoma_State_Banking_Department" title="Oklahoma State Banking Department">Oklahoma</a></li> <li><a href="/wiki/Oregon_Department_of_Consumer_and_Business_Services" title="Oregon Department of Consumer and Business Services">Oregon</a></li> <li><a href="/wiki/Pennsylvania_Department_of_Banking" title="Pennsylvania Department of Banking">Pennsylvania</a></li> <li><a href="/wiki/Tennessee_Department_of_Financial_Institutions" title="Tennessee Department of Financial Institutions">Tennessee</a></li> <li><a href="/wiki/State_Corporation_Commission_(Virginia)" title="State Corporation Commission (Virginia)">Virginia</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Terms</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Call_report" title="Call report">Call report</a></li> <li><a href="/wiki/CAEL_Rating" title="CAEL Rating">CAEL Rating</a></li> <li><a href="/wiki/CAMELS_rating_system" title="CAMELS rating system">CAMELS rating system</a></li> <li><a href="/wiki/Thrift_Financial_Report" title="Thrift Financial Report">Thrift Financial Report</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Other topics</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Banking_in_the_United_States" title="Banking in the United States">Banking in the United States</a></li> <li><a href="/wiki/Fair_debt_collection" title="Fair debt collection">Fair debt collection</a></li> <li><a href="/wiki/History_of_central_banking_in_the_United_States" title="History of central banking in the United States">History of central banking in the United States</a></li> <li><a href="/wiki/Wildcat_banking" title="Wildcat banking">Wildcat banking</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2" style="font-weight:bold;"><div> <ul><li><span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <a href="/wiki/Category:Bank_regulation_in_the_United_States" title="Category:Bank regulation in the United States">Category</a></li> <li><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Symbol_portal_class.svg" class="mw-file-description" title="Portal"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/16px-Symbol_portal_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/23px-Symbol_portal_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/31px-Symbol_portal_class.svg.png 2x" data-file-width="180" data-file-height="185" /></a></span> <a href="/wiki/Portal:Business" title="Portal:Business">Business portal</a></li> <li><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Symbol_portal_class.svg" class="mw-file-description" title="Portal"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/16px-Symbol_portal_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/23px-Symbol_portal_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/31px-Symbol_portal_class.svg.png 2x" data-file-width="180" data-file-height="185" /></a></span> <a href="/wiki/Portal:Banks" title="Portal:Banks">Banks portal</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Woodrow_Wilson872" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Woodrow_Wilson" title="Template:Woodrow Wilson"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Woodrow_Wilson" title="Template talk:Woodrow Wilson"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Woodrow_Wilson" title="Special:EditPage/Template:Woodrow Wilson"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Woodrow_Wilson872" style="font-size:114%;margin:0 4em"><a href="/wiki/Woodrow_Wilson" title="Woodrow Wilson">Woodrow Wilson</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><span class="nowrap"><a href="/wiki/List_of_presidents_of_the_United_States" title="List of presidents of the United States">28th</a> <a href="/wiki/President_of_the_United_States" title="President of the United States">President of the United States</a> (1913–1921)</span></li> <li><span class="nowrap"><a href="/wiki/List_of_governors_of_New_Jersey" title="List of governors of New Jersey">34th</a> <a href="/wiki/Governor_of_New_Jersey" title="Governor of New Jersey">Governor of New Jersey</a> (1911–1913)</span></li> <li><span class="nowrap">13th <a href="/wiki/List_of_presidents_of_Princeton_University" title="List of presidents of Princeton University">President of Princeton University</a> (1902–1910)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Presidency_of_Woodrow_Wilson" title="Presidency of Woodrow Wilson">Presidency</a><br />(<a href="/wiki/Timeline_of_the_Woodrow_Wilson_presidency" title="Timeline of the Woodrow Wilson presidency">timeline</a>)</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Presidential_transition_of_Woodrow_Wilson" title="Presidential transition of Woodrow Wilson">Transition</a></li> <li><a href="/wiki/First_inauguration_of_Woodrow_Wilson" title="First inauguration of Woodrow Wilson">1913 inauguration</a></li> <li><a href="/wiki/Second_inauguration_of_Woodrow_Wilson" title="Second inauguration of Woodrow Wilson">1917 inauguration</a></li> <li><a href="/wiki/Theodore_Roosevelt_desk" title="Theodore Roosevelt desk">Roosevelt desk</a></li> <li><a href="/wiki/List_of_federal_judges_appointed_by_Woodrow_Wilson" title="List of federal judges appointed by Woodrow Wilson">Judicial appointments</a> <ul><li><a href="/wiki/Woodrow_Wilson_Supreme_Court_candidates" title="Woodrow Wilson Supreme Court candidates">Supreme Court nominees</a></li> <li><a href="/wiki/Louis_Brandeis_Supreme_Court_nomination" title="Louis Brandeis Supreme Court nomination">Louis Brandeis Supreme Court nomination</a></li></ul></li> <li><a href="/wiki/Woodrow_Wilson#Administration_and_Cabinet" title="Woodrow Wilson">Cabinet</a></li> <li><a href="/wiki/List_of_Nobel_Peace_Prize_laureates#Laureates" title="List of Nobel Peace Prize laureates">1919 Nobel Peace Prize</a></li> <li><a href="/wiki/Nineteenth_Amendment_to_the_United_States_Constitution" title="Nineteenth Amendment to the United States Constitution">19th Amendment</a> <ul><li><a href="/wiki/Silent_Sentinels" title="Silent Sentinels">Silent Sentinels</a></li> <li><a href="/wiki/Woman_Suffrage_Procession" title="Woman Suffrage Procession">Woman Suffrage Procession</a></li></ul></li> <li><a href="/wiki/1913_State_of_the_Union_Address" title="1913 State of the Union Address">State of the Union Address 1913</a></li> <li><a href="/wiki/1914_State_of_the_Union_Address" title="1914 State of the Union Address">1914</a></li> <li><a href="/wiki/1915_State_of_the_Union_Address" title="1915 State of the Union Address">1915</a></li> <li><a href="/wiki/1916_State_of_the_Union_Address" title="1916 State of the Union Address">1916</a></li> <li><a href="/wiki/1917_State_of_the_Union_Address" title="1917 State of the Union Address">1917</a></li> <li><a href="/wiki/1918_State_of_the_Union_Address" title="1918 State of the Union Address">1918</a></li> <li><a href="/wiki/1920_State_of_the_Union_Address" title="1920 State of the Union Address">1920</a></li> <li><a href="/wiki/Presidential_transition_of_Warren_G._Harding" title="Presidential transition of Warren G. Harding">Harding transition</a></li></ul> </div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Foreign_policy_of_the_Woodrow_Wilson_administration" title="Foreign policy of the Woodrow Wilson administration">Foreign policy</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Wilsonianism" title="Wilsonianism">Wilsonianism</a></li> <li><a href="/wiki/Bryan%E2%80%93Chamorro_Treaty" title="Bryan–Chamorro Treaty">Bryan–Chamorro Treaty</a> (1914)</li> <li><a href="/wiki/United_States_occupation_of_Haiti" title="United States occupation of Haiti">Occupation of Haiti</a> (1915–1934)</li> <li><a href="/wiki/United_States_occupation_of_the_Dominican_Republic_(1916%E2%80%931924)" class="mw-redirect" title="United States occupation of the Dominican Republic (1916–1924)">Occupation of the Dominican Republic</a> (1916–1924)</li> <li><a href="/wiki/Army_Appropriations_Act_of_1916" title="Army Appropriations Act of 1916">Army Appropriations Act of 1916</a> <ul><li><a href="/wiki/Council_of_National_Defense" title="Council of National Defense">Council of National Defense</a></li></ul></li> <li><a href="/wiki/Jones_Law_(Philippines)" title="Jones Law (Philippines)">Philippine Autonomy Act</a> (1916)</li> <li><a href="/wiki/World_War_I" title="World War I">World War I</a> <ul><li>1917–1918; <a href="/wiki/American_entry_into_World_War_I" title="American entry into World War I">entry</a></li> <li><a href="/wiki/United_States_campaigns_in_World_War_I" title="United States campaigns in World War I">campaigns</a></li> <li><a href="/wiki/Home_front_during_World_War_I#United_States" title="Home front during World War I">home front</a></li> <li><a href="/wiki/Committee_on_Public_Information" title="Committee on Public Information">Committee on Public Information</a></li> <li><a href="/wiki/Four_Minute_Men" title="Four Minute Men">Four Minute Men</a></li> <li><a href="/wiki/Fourteen_Points" title="Fourteen Points">Fourteen Points</a></li> <li><a href="/wiki/The_Inquiry" title="The Inquiry">The Inquiry</a></li> <li><a href="/wiki/American_Commission_to_Negotiate_Peace" title="American Commission to Negotiate Peace">American Commission to Negotiate Peace</a></li> <li><a href="/wiki/Armistice_of_11_November_1918" title="Armistice of 11 November 1918">Armistice of 11 November 1918</a></li></ul></li> <li><a href="/wiki/Espionage_Act_of_1917" title="Espionage Act of 1917">Espionage Act of 1917</a></li> <li><a href="/wiki/Immigration_Act_of_1917" title="Immigration Act of 1917">Immigration Act of 1917</a></li> <li><a href="/wiki/Selective_Service_Act_of_1917" title="Selective Service Act of 1917">Selective Service Act of 1917</a></li> <li><a href="/wiki/Immigration_Act_of_1918" title="Immigration Act of 1918">Immigration Act of 1918</a></li> <li><a href="/wiki/Migratory_Bird_Treaty_Act_of_1918" title="Migratory Bird Treaty Act of 1918">Migratory Bird Treaty Act of 1918</a></li> <li><a href="/wiki/National_War_Labor_Board_(1918%E2%80%931919)" title="National War Labor Board (1918–1919)">National War Labor Board</a> (1918)</li> <li><a href="/wiki/Sedition_Act_of_1918" title="Sedition Act of 1918">Sedition Act of 1918</a></li> <li><a href="/wiki/Wartime_Measure_Act_of_1918" title="Wartime Measure Act of 1918">Wartime Measure Act of 1918</a></li> <li><a href="/wiki/Paris_Peace_Conference_(1919%E2%80%931920)" title="Paris Peace Conference (1919–1920)">Paris Peace Conference</a> <ul><li>1919–1920; <a href="/wiki/Racial_Equality_Proposal" title="Racial Equality Proposal">Racial Equality Proposal</a></li></ul></li> <li><a href="/wiki/Pueblo_speech" title="Pueblo speech">Pueblo speech</a> (1919)</li> <li><a href="/wiki/Treaty_of_Versailles" title="Treaty of Versailles">Treaty of Versailles</a> <ul><li>1919; <a href="/wiki/Big_Four_(World_War_I)#Woodrow_Wilson" title="Big Four (World War I)">Big Four</a></li></ul></li> <li><a href="/wiki/League_of_Nations" title="League of Nations">League of Nations</a> <ul><li>1920; <a href="/wiki/Covenant_of_the_League_of_Nations" title="Covenant of the League of Nations">charter</a></li></ul></li> <li><a href="/wiki/Wilsonian_Armenia" title="Wilsonian Armenia">Wilsonian Armenia</a> (1920)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/The_New_Freedom" title="The New Freedom">New Freedom</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Woodrow_Wilson_and_race" title="Woodrow Wilson and race">Federal racial segregation</a></li> <li><a class="mw-selflink selflink">Federal Reserve Act</a> <ul><li>1913; <a href="/wiki/Federal_Reserve" title="Federal Reserve">Federal Reserve</a></li></ul></li> <li><a href="/wiki/Newlands_Labor_Act" title="Newlands Labor Act">Newlands Labor Act</a> <ul><li>1913; <a href="/wiki/National_Mediation_Board" title="National Mediation Board">Board of Mediation and Conciliation</a></li></ul></li> <li><a href="/wiki/Raker_Act" title="Raker Act">Raker Act</a> (1913)</li> <li><a href="/wiki/Revenue_Act_of_1913" title="Revenue Act of 1913">Revenue Act of 1913</a> <ul><li><a href="/wiki/Income_tax_in_the_United_States" title="Income tax in the United States">Federal income tax</a></li></ul></li> <li><a href="/wiki/Rivers_and_Harbors_Act" title="Rivers and Harbors Act">Rivers and Harbors Acts</a> <ul><li><a href="/wiki/Rivers_and_Harbors_Act_of_1913" title="Rivers and Harbors Act of 1913">1913</a></li> <li><a href="/wiki/River_and_Harbors_Act_of_1914" class="mw-redirect" title="River and Harbors Act of 1914">1914</a></li> <li><a href="/wiki/River_and_Harbors_Act_of_1915" title="River and Harbors Act of 1915">1915</a></li> <li><a href="/wiki/River_and_Harbors_Act_of_1916" title="River and Harbors Act of 1916">1916</a></li></ul></li> <li><a href="/wiki/Sabath_Act" class="mw-redirect" title="Sabath Act">Sabath Act</a> (1913)</li> <li><a href="/wiki/Clayton_Antitrust_Act_of_1914" title="Clayton Antitrust Act of 1914">Clayton Antitrust Act of 1914</a></li> <li><a href="/wiki/Cotton_Futures_Act" title="Cotton Futures Act">Cotton Futures Act of 1914</a></li> <li><a href="/wiki/Cutter_Service_Act" title="Cutter Service Act">Cutter Service Act</a> (1914)</li> <li><a href="/wiki/Emergency_Internal_Revenue_Tax_Act" title="Emergency Internal Revenue Tax Act">Emergency Internal Revenue Tax Act</a> (1914)</li> <li><a href="/wiki/Federal_Trade_Commission_Act_of_1914" title="Federal Trade Commission Act of 1914">Federal Trade Commission Act of 1914</a> <ul><li><a href="/wiki/Federal_Trade_Commission" title="Federal Trade Commission">Federal Trade Commission</a></li></ul></li> <li><a href="/wiki/Glacier_National_Park_(U.S.)" title="Glacier National Park (U.S.)">Glacier National Park Act of 1914</a></li> <li><a href="/wiki/Congressional_Research_Service" title="Congressional Research Service">Legislative Reference Service</a> (1914)</li> <li><a href="/wiki/Smith%E2%80%93Lever_Act_of_1914" title="Smith–Lever Act of 1914">Smith–Lever Act of 1914</a></li> <li><a href="/wiki/War_Risk_Insurance_Act" title="War Risk Insurance Act">War Risk Insurance Act</a> (1914)</li> <li><a href="/wiki/Locomotive_Inspection_Act" title="Locomotive Inspection Act">Locomotive Inspection Act</a> (1915)</li> <li><a href="/wiki/National_Advisory_Committee_for_Aeronautics" title="National Advisory Committee for Aeronautics">National Advisory Committee for Aeronautics</a> (1915)</li> <li><a href="/wiki/Occupancy_Permits_Act" title="Occupancy Permits Act">Occupancy Permits Act</a> (1915)</li> <li><a href="/wiki/Adamson_Act" title="Adamson Act">Adamson Act</a> (1916)</li> <li><a href="/wiki/Brush_Disposal_Act_of_1916" title="Brush Disposal Act of 1916">Brush Disposal Act of 1916</a></li> <li><a href="/wiki/Cotton_Futures_Act_of_1916" title="Cotton Futures Act of 1916">Cotton Futures Act of 1916</a></li> <li><a href="/wiki/Federal_Aid_Road_Act_of_1916" title="Federal Aid Road Act of 1916">Federal Aid Road Act of 1916</a></li> <li><a href="/wiki/Federal_Employees%27_Compensation_Act" title="Federal Employees' Compensation Act">Federal Employees' Compensation Act</a> (1916)</li> <li><a href="/wiki/Federal_Farm_Loan_Act" title="Federal Farm Loan Act">Federal Farm Loan Act</a> <ul><li>1916; <a href="/wiki/Farm_Credit_System" title="Farm Credit System">Farm Credit System</a></li> <li><a href="/wiki/Federal_Farm_Board" title="Federal Farm Board">Federal Farm Loan Board</a></li></ul></li> <li><a href="/wiki/Flag_Day_(United_States)" title="Flag Day (United States)">Flag Day</a> (1916)</li> <li><a href="/wiki/Fraudulent_Advertising_Act_of_1916" title="Fraudulent Advertising Act of 1916">Fraudulent Advertising Act of 1916</a></li> <li><a href="/wiki/Keating%E2%80%93Owen_Act" title="Keating–Owen Act">Keating–Owen Act</a> (1916)</li> <li><a href="/wiki/National_Park_Service_Organic_Act" title="National Park Service Organic Act">National Park Service Organic Act</a> <ul><li>1916; <a href="/wiki/National_Park_Service" title="National Park Service">National Park Service</a></li></ul></li> <li><a href="/wiki/Revenue_Act_of_1916" title="Revenue Act of 1916">Revenue Act of 1916</a></li> <li><a href="/wiki/Rural_Post_Roads_Act_of_1916" title="Rural Post Roads Act of 1916">Rural Post Roads Act of 1916</a></li> <li><a href="/wiki/Irrigation_District_Act_of_1916_(Smith_Act)" title="Irrigation District Act of 1916 (Smith Act)">Smith Act</a> (1916)</li> <li><a href="/wiki/Stock-Raising_Homestead_Act" title="Stock-Raising Homestead Act">Stock-Raising Homestead Act</a> (1916)</li> <li><a href="/wiki/United_States_Grain_Standards_Act_of_1916" title="United States Grain Standards Act of 1916">United States Grain Standards Act of 1916</a></li> <li><a href="/wiki/Warehouse_Act_of_1916" title="Warehouse Act of 1916">Warehouse Act of 1916</a></li> <li><a href="/wiki/Wildlife_Game_Refuges_Act_of_1916" title="Wildlife Game Refuges Act of 1916">Wildlife Game Refuges Act of 1916</a></li> <li><a href="/wiki/Flood_Control_Act_of_1917" title="Flood Control Act of 1917">Flood Control Act of 1917</a></li> <li><a href="/wiki/Smith%E2%80%93Hughes_Act" title="Smith–Hughes Act">Smith–Hughes Act</a> <ul><li>1917; <a href="/wiki/U.S._Federal_Board_for_Vocational_Education" title="U.S. Federal Board for Vocational Education">U.S. Federal Board for Vocational Education</a></li></ul></li> <li><a href="/wiki/United_States_Railroad_Administration" title="United States Railroad Administration">United States Railroad Administration</a> <ul><li>1917; <a href="/wiki/USRA_standard" title="USRA standard">USRA standard</a></li></ul></li> <li><a href="/wiki/War_Revenue_Act_of_1917" title="War Revenue Act of 1917">War Revenue Act of 1917</a></li> <li><a href="/wiki/Revenue_Act_of_1918" title="Revenue Act of 1918">Revenue Act of 1918</a></li> <li><a href="/wiki/Acadia_National_Park" title="Acadia National Park">Acadia National Park Act of 1919</a></li> <li><a href="/wiki/Grand_Canyon" title="Grand Canyon">Grand Canyon Park Act of 1919</a></li> <li><a href="/wiki/Red_Summer" title="Red Summer">Red Summer</a> (1919)</li> <li><a href="/wiki/Wheat_Price_Guarantee_Act" title="Wheat Price Guarantee Act">Wheat Price Guarantee Act</a> (1919)</li> <li><a href="/wiki/Esch%E2%80%93Cummins_Act" title="Esch–Cummins Act">Esch–Cummins Act</a> <ul><li>1920; <a href="/wiki/Railroad_Labor_Board" title="Railroad Labor Board">Railroad Labor Board</a></li></ul></li> <li><a href="/wiki/Federal_Power_Act" title="Federal Power Act">Federal Power Act</a> <ul><li>1920; <a href="/wiki/Federal_Power_Commission" title="Federal Power Commission">Federal Power Commission</a></li></ul></li> <li><a href="/wiki/Merchant_Marine_Act_of_1920" title="Merchant Marine Act of 1920">Merchant Marine Act of 1920</a></li> <li><a href="/wiki/Mineral_Leasing_Act_of_1920" title="Mineral Leasing Act of 1920">Mineral Leasing Act of 1920</a></li></ul> </div></td></tr></tbody></table><div> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Life</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Woodrow_Wilson_Presidential_Library" title="Woodrow Wilson Presidential Library">Birthplace and Presidential Library</a> <ul><li><a href="/wiki/Seeley_G._Mudd_Manuscript_Library" title="Seeley G. Mudd Manuscript Library">papers and manuscripts</a></li></ul></li> <li><a href="/wiki/Woodrow_Wilson_Boyhood_Home" title="Woodrow Wilson Boyhood Home">Boyhood home in Georgia</a></li> <li><a href="/wiki/Woodrow_Wilson_Boyhood_Home_(Columbia,_South_Carolina)" title="Woodrow Wilson Boyhood Home (Columbia, South Carolina)">Boyhood home in South Carolina</a></li> <li><a href="/wiki/History_of_Princeton_University#Woodrow_Wilson" title="History of Princeton University">Princeton University president</a></li> <li><a href="/wiki/Harlakenden" title="Harlakenden">Summer White House (Harlakenden</a></li> <li><a href="/wiki/Shadow_Lawn_(New_Jersey)" title="Shadow Lawn (New Jersey)">Shadow Lawn)</a></li> <li><a href="/wiki/Woodrow_Wilson_House_(Washington,_D.C.)" title="Woodrow Wilson House (Washington, D.C.)">Woodrow Wilson House</a></li> <li><a href="/wiki/Washington_National_Cathedral#Burials" title="Washington National Cathedral">Gravesite</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Books</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><i>Congressional Government</i> (1900)</li> <li><i>When a Man Comes to Himself</i> (1901)</li> <li><a href="/wiki/The_New_Freedom" title="The New Freedom"><i>The New Freedom</i> (1913)</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Electoral_History_of_Woodrow_Wilson" class="mw-redirect" title="Electoral History of Woodrow Wilson">Elections</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/1910_New_Jersey_gubernatorial_election" title="1910 New Jersey gubernatorial election">1910 New Jersey gubernatorial election</a></li> <li><a href="/wiki/1912_Democratic_National_Convention" title="1912 Democratic National Convention">1912 Democratic National Convention</a></li> <li><a href="/wiki/1912_United_States_presidential_election" title="1912 United States presidential election">1912 U.S. presidential election</a></li> <li><a href="/wiki/1916_Democratic_National_Convention" title="1916 Democratic National Convention">1916 Democratic National Convention</a></li> <li><a href="/wiki/1916_United_States_presidential_election" title="1916 United States presidential election">1916 U.S. presidential election</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Legacy<br />(<a href="/wiki/List_of_memorials_to_Woodrow_Wilson" title="List of memorials to Woodrow Wilson">memorials</a>)</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bibliography_of_Woodrow_Wilson" title="Bibliography of Woodrow Wilson">Bibliography</a></li> <li><a href="/wiki/Woodrow_Wilson_Awards" title="Woodrow Wilson Awards">Woodrow Wilson Awards</a></li> <li><a href="/wiki/Woodrow_Wilson_Foundation" title="Woodrow Wilson Foundation">Woodrow Wilson Foundation</a></li> <li><a href="/wiki/Woodrow_Wilson_International_Center_for_Scholars" title="Woodrow Wilson International Center for Scholars">Woodrow Wilson International Center for Scholars</a> <ul><li><i><a href="/wiki/The_Wilson_Quarterly" title="The Wilson Quarterly">The Wilson Quarterly</a></i></li></ul></li> <li><a href="/wiki/Princeton_School_of_Public_and_International_Affairs" title="Princeton School of Public and International Affairs">Woodrow Wilson School of Public and International Affairs</a></li> <li><a href="/wiki/Woodrow_Wilson_High_School_(disambiguation)" class="mw-redirect mw-disambig" title="Woodrow Wilson High School (disambiguation)">High schools</a></li> <li><a href="/wiki/Kennedy%E2%80%93King_College" title="Kennedy–King College">Woodrow Wilson Junior College</a></li> <li><i><a href="/wiki/Celestial_Sphere_Woodrow_Wilson_Memorial" title="Celestial Sphere Woodrow Wilson Memorial">Celestial Sphere Woodrow Wilson Memorial</a></i></li> <li><i><a href="/wiki/Statue_of_Woodrow_Wilson_(Austin,_Texas)" title="Statue of Woodrow Wilson (Austin, Texas)">Woodrow Wilson</a></i> (Austin statue)</li> <li><a href="/wiki/Wilson_Square" title="Wilson Square">Wilson Square</a> (Warsaw)</li> <li><a href="/wiki/Woodrow_Wilson_Monument" title="Woodrow Wilson Monument">Woodrow Wilson Monument</a> (Prague)</li> <li><a href="/wiki/Woodrow_Wilson_Bridge" title="Woodrow Wilson Bridge">Woodrow Wilson Bridge</a></li> <li><a href="/wiki/Woodrow_Wilson_National_Fellowship_Foundation" class="mw-redirect" title="Woodrow Wilson National Fellowship Foundation">Woodrow Wilson National Fellowship Foundation</a></li> <li><a href="/wiki/Mount_Wilson_(Vermont)" title="Mount Wilson (Vermont)">Mount Wilson (Vermont)</a></li> <li><a href="/wiki/SS_President_Wilson" title="SS President Wilson">SS <i>President Wilson</i></a></li> <li><a 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