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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 poss ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War I
World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fighting occurring throughout Europe, the Middle East, Africa, the Pacific, and parts of Asia. An estimated 9 million soldiers were killed in combat, plus another 23 million wounded, while 5 million civilians died as a result of military action, hunger, and disease. Millions more died in genocides within the Ottoman Empire and in the 1918 influenza pandemic, which was exacerbated by the movement of combatants during the war. Prior to 1914, the European great powers were divided between the Triple Entente (comprising France, Russia, and Britain) and the Triple Alliance (containing Germany, Austria-Hungary, and Italy). Tensions in the Balkans came to a head on 28 June 1914, following the assassination of Archduke Franz Ferdin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1908 Establishments In The United States
Nineteen or 19 may refer to: * 19 (number), the natural number following 18 and preceding 20 * one of the years 19 BC, AD 19, 1919, 2019 Films * ''19'' (film), a 2001 Japanese film * ''Nineteen'' (film), a 1987 science fiction film 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. * "Nineteen", a song by Bad4Good from the 1992 album ''Refugee'' * "Nineteen", a song by Karma to Burn from the 2001 album ''Almost Heathen''. * "Nineteen" (song), a 2007 song by American singer Billy Ray Cyrus. * "Nineteen", a song by Tegan and Sara from the 2007 album '' The Con''. * "XIX" (song), a 2014 song by Slipknot. ... [...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 ecoregion in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Woodrow Wilson
Thomas Woodrow Wilson (December 28, 1856February 3, 1924) was an American politician and academic who served as the 28th president of the United States from 1913 to 1921. A member of the Democratic Party, Wilson served as the president of Princeton University and as the governor of New Jersey before winning the 1912 presidential election. As president, Wilson changed the nation's economic policies and led the United States into World War I in 1917. He was the leading architect of the League of Nations, and his progressive stance on foreign policy came to be known as Wilsonianism. Wilson grew up in the American South, mainly in Augusta, Georgia, during the Civil War and Reconstruction. After earning a Ph.D. in political science from Johns Hopkins University, Wilson taught at various colleges before becoming the president of Princeton University and a spokesman for progressivism in higher education. As governor of New Jersey from 1911 to 1913, Wilson broke with party bosse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of The Democratic Party (United States)
The Democratic Party is one of the two major political parties of the United States political system and the oldest existing political party in that country founded in the 1830s and 1840s. It is also the oldest voter-based political party in the world. The party has changed significantly during its nearly two centuries of existence. 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 bested the opposition Whig Party by narrow margins. Before the American Civil War the party supported or tolerated slavery; and after the war until the Great Depression the party opposed civil rights reforms in order to retain the support of Southern voters. During this second period (1865-1932), the ... [...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) A mariner is a sail ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Paper
Commercial paper, in the global financial market, is an unsecured promissory note with a fixed maturity of rarely more 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 creditworthiness of the issuing company. Commercial paper is a money-market 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, 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 discount from face value and generally carries lower interest repayment rates than bonds due to the sh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Elasticity (economics)
In economics, elasticity measures the percentage change of one economic variable in response to a percentage change in another. If the price elasticity of the demand of something is -2, a 10% increase in price causes the demand quantity to fall by 20%. Introduction Elasticity is an important concept in neoclassical economic theory, and enables in the understanding of various economic concepts, such as the incidence of indirect taxation, marginal concepts relating to the theory of the firm, distribution of wealth, and different types of goods relating to the theory of consumer choice. An understanding of elasticity is also important when discussing welfare distribution, in particular consumer surplus, producer surplus, or government surplus. Elasticity is present throughout many economic theories, with the concept of elasticity appearing in several main indicators. These include price elasticity of demand, price elasticity of supply, income elasticity of demand, elastici ... [...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 cease to function 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; they keep the cash or transfer it into other assets, such as government bonds, precious metals or gemstones. 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 m ... [...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 of America. 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. 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 responsibilities of the Federal Reserve System. Congress established three key objectives for monetary policy in the Federal Reserve Act: maximizing employment, stabilizing prices, and moderating long-term interest rates. The first two objectives are sometimes referred to as the Federal Reserve's dual mandate. Its duties have expanded over the years, and currently also include supervising and regulating banks, maintaining the stabili ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
