Banking problems that led to formulation of the Federal Reserve Act of 1913 : an honors thesis (HONRS 499)

Abstract

The purpose of this paper is to investigate the events and problems of the banking system that led to the Federal Reserve Act of 1913. The paper examines the history of banking in the United States and identifies some of the more significant factors that persuaded American bankers, politicians, academicians, and others that reform of the banking system was necessary. A discussion of the banking panic of 1907 illustrates some of these factors. Finally, the basic provisions of the Federal Reserve Act of 1913 are presented and discussed.