Federal+Reserve+Actcm

== = = =Federal Reserve Act=

The Federal Reserve Act was the central banking system of the United States of America. Before this act the U.S had gone nearly 80 years with out a bank system and granted it the legal authority to issue l egal tender. Legal tender is a currency that may be lawfully tendered in payment of a debt, such as paper money or coins. The Act also permitted Federal reserve banks to act as fiscal agents for the United States government.

media type="youtube" key="QtWXRvL5ato" height="273" width="336"