On December 23rd in US History
Part II
Part II
On December 23rd in 1861 Lord Lyons, The British minister to America presented a formal complaint to secretary of state, William Seward, regarding the Trent affair.
On December 23rd in 1862 Union Gen. Ben "Beast" Butler was proclaimed a "felon, outlaw & common enemy of mankind" by Confederate President Jefferson Davis and insisted that he must be hanged if captured.
On December 23rd in 1896 US Cordage was removed from the Dow Jones and replaced by its successor Standard Rope & Twine Co.
On December 23rd in 1900 The Federal Party, which recognized American sovereignty, was formed in the Philippines.
On December 23rd in 1913 The Federal Reserve Act (Owen-Glass Act) was signed into law by President Woodrow Wilson. It established the decentralized, government-controlled banking system in the US known as the Federal Reserve. The Federal Reserve Act repealed the gold standard and replaced it with a system that ensured the US dollar would be a better store of value than gold. The goal was to strive for maximum employment and price stability. It was the first large scale reorganization of the national banking system since the Civil War.
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