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What were the two views of banking before the civil war?
Two views of bank which are Federalists: believe a strong banking system was necessary to develop healthy industries and trade and Anti-Federalists: supported a decentralized banking system where the states would establish and regulate all banks within their borders.
Why do the government regulate the banking system?
Regulations are important to monitor the credit
What is meant when someone talks about the shadow banking system?
When someone talks about the shadow banking system, it means that commercial banks and investment banks provide services to customers in a traditional banking system. The central banks monitor and regulate the activities of the shadow banking system.
Who encouraged congress to create a central banking system?
rickey boby
What was the national banking system did Woodrow Wilson worked to establish?
The Federal Reserve
What does the Fed regulate?
It does so by regulating the money supply through the banking system and its interaction with the public.
What agencies supervise banking systems and regulate the money supply?
Board of governors, federal reserve system
What did the Wilson administration establish in an effort to assert government control over the nations banking system?
created the federal reserve system
What legislation did congress pass the day after Franklin Roosevelts inauguration?
The Emergency Banking Bill was passed by Congress the day after Franklin Roosevelt's inauguration. A bank holiday was declared, and all banks were closed for a week to prevent a collapse of the banking system. After the banks re-opened, the public confidence in the system was restored, due to measures taken by Roosevelt.
When congress inability forced it to establish a system for selling land for money what did it impose to?
Taxes
What are the 5 powers of congress?
the powers to declare war and to raise taxes; regulate immigration & naturalization; regulate interstate commerce; set standards for weights & measures; establish & enforce copyright laws; create lower courts; establish foreign policy; establish a postal system. There are many others.
How did president Wilson and congress assert government control over the nations banking system?
They founded what is now called the Federal Reserve system.
