Federal Reserve Act
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Title: Federal Reserve Act

Essay Details:

Subject: History
Author: Debra M
Date: March 27, 2015
Level: University
Grade: A
Length: 7 / 1866

Essay text:

The banker called the Federal Reserve Bank in Minneapolis and warned that unless this "mad run" were stopped, he would soon be out of currency. With the bank nearly two-hundred miles from Minneapolis, a small plane carrying two Federal Reserve Bank officials and a half-million dollars in cash were quickly flown into town. Upon approaching the town the pilot guided the plane low over the main street in a sensational arrival and then landed. From there, the money was carried ceremoniously into town and stacked along the bank's teller windows. The sight of the money calmed the customers fears and saved the bank from failing...

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