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National Monetary Commission
The National Monetary Commission was a U.S. congressional commission created by the Aldrich–Vreeland Act of 1908. After the Panic of 1907, the Commission studied the banking laws of the United States, and the leading countries of Europe. The chairman of the commission, Senator Nelson Aldrich, a Republican leader in the Senate, personally led a team of experts to major European capitals. They were stunned to discover how much more efficient the European financial system appeared to be and how much more important than the dollar were the pound, the franc and the mark in international trade. The commission's reports and recommendations became one of the principal bases in the enactment of the Federal Reserve Act of 1913 which created the modern Federal Reserve system. Background Following the panics of the late 1890s and early 1900s, the American people were aroused to the need for basic reforms. One of the most painful aspects of the economic crisis before World War I was the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aldrich–Vreeland Act
The Aldrich–Vreeland Act was a United States law passed in response to the Panic of 1907 which established the National Monetary Commission. On May 27, 1908, the bill passed the House, mostly on a party-line vote of 166–140, with 13 Republicans voting against it and no Democrats voting for it. On May 30, it passed in the Senate with 43 Republicans for the act and five Republicans joining the 17 Democrats against it. President Roosevelt signed the bill that same night. The act also allowed national banks to start national currency associations in groups of ten or more, with at least $5 million in total capital, to issue emergency currency. The bank notes were to be backed by not only government bonds but also almost any securities the banks were holding. The act proposed that the emergency currency had to go through a process of approval by the officers of the national currency associations before they were distributed by the Comptroller of the Currency. However, it is po ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War I
World War I or the First World War (28 July 1914 – 11 November 1918), also known as the Great War, was a World war, global conflict between two coalitions: the Allies of World War I, Allies (or Entente) and the Central Powers. Fighting took place mainly in European theatre of World War I, Europe and the Middle Eastern theatre of World War I, Middle East, as well as in parts of African theatre of World War I, Africa and the Asian and Pacific theatre of World War I, Asia-Pacific, and in Europe was characterised by trench warfare; the widespread use of Artillery of World War I, artillery, machine guns, and Chemical weapons in World War I, chemical weapons (gas); and the introductions of Tanks in World War I, tanks and Aviation in World War I, aircraft. World War I was one of the List of wars by death toll, deadliest conflicts in history, resulting in an estimated World War I casualties, 10 million military dead and more than 20 million wounded, plus some 10 million civilian de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1908 Establishments In The United States
Nineteen or 19 may refer to: * 19 (number) * One of the years 19 BC, AD 19, 1919, 2019 Films * ''19'' (film), a 2001 Japanese film * ''Nineteen'' (1987 film), a 1987 science fiction film * '' 19-Nineteen'', a 2009 South Korean film * '' Diciannove'', a 2024 Italian drama film informally referred to as "Nineteen" in some sources Science * Potassium, an alkali metal * 19 Fortuna, an asteroid Music * 19 (band), a Japanese pop music duo Albums * ''19'' (Adele album), 2008 * ''19'', a 2003 album by Alsou * ''19'', a 2006 album by Evan Yo * ''19'', a 2018 album by MHD * ''19'', one half of the double album '' 63/19'' by Kool A.D. * ''Number Nineteen'', a 1971 album by American jazz pianist Mal Waldron * ''XIX'' (EP), a 2019 EP by 1the9 Songs * "19" (song), a 1985 song by British musician Paul Hardcastle * "Stone in Focus", officially "#19", a composition by Aphex Twin * "Nineteen", a song from the 1992 album ''Refugee'' by Bad4Good * "Nineteen", a song from the 2 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Monetary Commission
The National Monetary Commission was a U.S. congressional commission created by the Aldrich–Vreeland Act of 1908. After the Panic of 1907, the Commission studied the banking laws of the United States, and the leading countries of Europe. The chairman of the commission, Senator Nelson Aldrich, a Republican leader in the Senate, personally led a team of experts to major European capitals. They were stunned to discover how much more efficient the European financial system appeared to be and how much more important than the dollar were the pound, the franc and the mark in international trade. The commission's reports and recommendations became one of the principal bases in the enactment of the Federal Reserve Act of 1913 which created the modern Federal Reserve system. Background Following the panics of the late 1890s and early 1900s, the American people were aroused to the need for basic reforms. One of the most painful aspects of the economic crisis before World War I was the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
FRASER
Fraser may refer to: Places Antarctica * Fraser Point, South Orkney Islands Australia * Fraser, Australian Capital Territory, a suburb in the Canberra district of Belconnen * Division of Fraser (Australian Capital Territory), a former federal electoral division located in the Australian Capital Territory * Division of Fraser (Victoria), a current federal electoral division located in Victoria * Fraser Island, along the coast of Queensland Canada * Fraser River ** Fraser Plateau, a subplateau of the Interior Plateau, named for the river ** Fraser Basin, a low-lying area, part of the Nechako Plateau, flanking the Fraser River in the Central Interior of British Columbia ** Fraser Canyon, the stretch of the Fraser River from the city of Williams Lake south to the town of Hope, British Columbia ** Fraser Valley, the region flanking the lowermost reaches of the Fraser River, from the town of Hope to the sea ** Fraser Plateau and Basin complex, a World Wildlife Fund-named ecore ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Woodrow Wilson
Thomas Woodrow Wilson (December 28, 1856February 3, 1924) was the 28th president of the United States, serving from 1913 to 1921. He was the only History of the Democratic Party (United States), Democrat to serve as president during the Progressive Era when Republicans dominated the presidency and United States Congress, legislative branches. As president, Wilson changed the nation's economic policies and led the United States into World War I. He was the leading architect of the League of Nations, and his stance on foreign policy came to be known as Wilsonianism. Born in Staunton, Virginia, Wilson early life of Woodrow Wilson, grew up in the Southern United States during the American Civil War and Reconstruction era. After earning a Doctor of Philosophy, Ph.D. in history and political science from Johns Hopkins University, Wilson taught at several colleges prior to being appointed president of Princeton University, where he emerged as a prominent spokesman for progressivism ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of The Democratic Party (United States)
The Democratic Party (United States), Democratic Party is one of the two major political parties of the United States political system and the oldest active Political parties in the United States, political party in the country. Founded in 1828, the Democratic Party is the oldest active voter-based political party in the world. The party has changed significantly during its nearly two centuries of existence. Once known as the party of the "common man", the early Democratic Party stood for individual rights and state sovereignty, and opposed banks and high tariffs. In the first decades of its existence, from 1832 to the mid-1850s (known as the Second Party System), under Presidents Andrew Jackson, Martin Van Buren, and James K. Polk, the Democrats usually defeated the opposition Whig Party (United States), Whig Party by narrow margins. Before the American Civil War, the party generally supported slavery or insisted it be left to the states. After the war until the 1940s, the part ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marriner S
Marriner is both a surname and a given name. Notable people with the name include: Surname: Ricky Marriner (born 1984), Soldier British Army * Andre Marriner (born 1971), English professional football referee who officiates in the Premier League * Andrew Marriner (born 1954), British classical clarinettist * Chelsea Marriner, dog handler and trainer from New Zealand * Craig Marriner (born 1974), New Zealand novelist *Sir Neville Marriner (1924–2016), English conductor and violinist * Steve Marriner, Canadian multi-instrumentalist Given name: * Marriner Stoddard Eccles (1890–1977), U.S. banker, economist and member and chairman of the Federal Reserve * Marriner W. Merrill (1832–1906), Canadian-born member of the Quorum of the Twelve Apostles of The Church of Jesus Christ of Latter-day Saints * Edmund Marriner Gill (1820–1894), English landscape painter who favoured waterfalls See also * Mount Marriner, a mountain in the Antarctic * Mariner (other) {{given na ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Paper
Commercial paper, in the global financial market, is an Unsecured debt, unsecured promissory note with a fixed Maturity (finance), maturity of usually less than 270 days. In layperson terms, it is like an "IOU" but can be bought and sold because its buyers and sellers have some degree of confidence that it can be successfully redeemed later for cash, based on their assessment of the credit risk, creditworthiness of the issuing company. Commercial paper is a Money market, money-market security (finance), security issued by large corporations to obtain funds to meet short-term debt obligations (for example, payroll) and is backed only by an issuing bank or company promise to pay the face amount on the maturity date specified on the note. Since it is not backed by Collateral (finance), collateral, only firms with excellent credit ratings from a recognized credit rating agency will be able to sell their commercial paper at a reasonable price. Commercial paper is usually sold at a di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Elasticity (economics)
In economics, elasticity measures the responsiveness of one economic variable to a change in another. For example, if the price elasticity of the demand of a good is −2, then a 10% increase in price will cause the quantity demanded to fall by 20%. Elasticity in economics provides an understanding of changes in the behavior of the buyers and sellers with price changes. There are two types of elasticity for demand and supply, one is inelastic demand and supply and the other one is elastic demand and supply. Introduction The concept of price elasticity was first cited in an informal form in the book ''Principles of Economics (Marshall book), Principles of Economics'' published by the author Alfred Marshall in 1890. Subsequently, a major study of the price elasticity of supply and the price elasticity of demand for US products was undertaken by Joshua Levy and Trevor Pollock in the late 1960s. Elasticity is an important concept in neoclassical economic theory, and enables in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Runs
A bank run or run on the bank occurs when many clients withdraw their money from a bank, because they believe the bank may fail in the near future. In other words, it is when, in a fractional-reserve banking system (where banks normally only keep a small proportion of their assets as cash), numerous customers withdraw cash from deposit accounts with a financial institution at the same time because they believe that the financial institution is, or might become, insolvent. When they transfer funds to another institution, it may be characterized as a capital flight. As a bank run progresses, it may become a self-fulfilling prophecy: as more people withdraw cash, the likelihood of default increases, triggering further withdrawals. This can destabilize the bank to the point where it runs out of cash and thus faces sudden bankruptcy. To combat a bank run, a bank may acquire more cash from other banks or from the central bank, or limit the amount of cash customers may withdraw, ei ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Reserve
The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises. Although an instrument of the U.S. government, the Federal Reserve System considers itself "an independent central bank because its monetary policy decisions do not have to be approved by the president or by anyone else in the executive or legislative branches of government, it does not receive funding appropriated by Congress, and the terms of the members of the board of governors span multiple presidential and congressional terms." Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
