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Front row, L-R: Charles Hamlin, William McAdoo, Frederic Delano. Back row, L-R: Paul Warburg, John Skelton Williams, W.P.G. Harding, A.C. Miller.
After the Federal Reserve Act was signed in 1913, the Federal Reserve came into its own in the two decades that followed.

The Honorable Louis McFadden
McFadden Act

The Fed’s success led to this legislation in 1927, which rechartered the Federal Reserve Banks in perpetuity among other items

World War I poster depicting Lady Liberty on the telephone reads "Hello! This is liberty speaking - billions of dollars are needed and needed now" 
Liberty Bonds

The Treasury and the Fed worked together to finance World War I

Newly formed Federal Reserve Board with Federal Reserve Bank governors and bankers
Reserve Banks Open

The twelve Federal Reserve Banks opened for business in November 1914

Liberty Loan poster showing a panoramic view of the U.S. Treasury Building from the southeast reads "Lend your money to your government, Buy a United States government bond, second Liberty Loan of 1917, U.S. Treasury will pay you interest every six months." 
Fed’s Role During WWI

World War I was the first test of the nation's new central bank

New York's <em>The Sun</em> newspaper headline declared "New&nbsp;U.S. Banking System Announced" on <a href="">April 3, 1914</a>
Reserve Bank Organization Committee

The RBOC announced the location and district boundaries of the Reserve Banks in April 1914

<p>President Wilson signing the Federal Reserve Act&nbsp;</p>
Federal Reserve Act Signed

The Federal Reserve Act became law in December 1913, culminating three years of debate