Date of Award


Document Type


Degree Name

Master of Arts


Master of Economics


The Federal Reserve System is considered by many people to be a mysterious organization because most people have only a vague idea of the functions and operations of the Federal Reserve System.

The purpose of this study is to study the organization of the Federal Reserve System and to investigate the effects that the system has upon the American economy.

In seeking the origin of the reform legislation known as the Federal Reserve Act of 1913, the economic historian usually begins with the year 1893, It was that year that the panic and the depression brought to American bankers, businessmen, and statesmen a realization of the weaknesses of the American banking system. In a very real sense, the people of this country began to look in the direction of foreign systems to discover the reasons for their superiority. The complacency which had marked American banking thought was severely shaken.


Prairie View Agricultural and Mechanical College


© 2021 Prairie View A & M University

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

Date of Digitization


Contributing Institution

John B Coleman Library

City of Publication

Prairie View





To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.