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Story of Money

Section 15: The Fed and afterwards Previous Section | Main Menu | Next Section
The Federal Reserve was created in 1913 in response to the nation's recurring banking panics. But 1913–33 was a time of great financial instability, and the creation of the Fed did not end banking problems right away.
The Fed System The Great Depression and bank crisis in the 1930s led to reforms
In 1933 the United States officially retreated from the gold standard

$20 Liberty head, 1904

$10 Liberty head, 1904

$5 Liberty head, 1907

$2.50 Liberty head, 1905

$20 Saint-Gaudens, 1924

$10 Indian head, 1913

$5 Indian head, 1912

$2.50 Indian head, 1915
Four U.S. gold certificates, Series 1928