The Federal Reserve Act of December 23, 1913 took effect in November 1914, when the 12 regional banks opened for business. Ultimately, the emergency currency issued under the Aldrich-Vreeland Act was entirely withdrawn.
The Federal Reserve Act of December 23, 1913 took effect in November 1914, when the 12 regional banks opened for business Ultimately, the emergency currency issued under the Aldrich-Vreeland Act was entirely withdrawn.