1. Woodrow Wilson
... presented his program for reform of the banking and currency laws. The nations banking system was outdated, unmanageable, and chaotic. To fix this Wilson favored the establishment of a Federal Reserve Board with presidential appointed financial experts. The Board would set national interest rates and manage a network of twelve major banks across the country. These banks, which would issue ... currency, would in turn work with local banks. Congress passed the Federal Reserve act basically in the form the President had recommended. Amendments also provided for exclusive governmental contro...
- Word Count: 2686
- Approx Pages: 11
- Has Bibliography
- Grade Level: Undergraduate