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puts U.S. on gold standard
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Panic reveals basic flaws in system. Money crunch.
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authorizes special paper currency to ease shortage of money
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Payne-Aldrich tariff lowers rates to about 38%
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creates 12 members banks, controls interest rates; First U.S. banking system since Jackson's days.
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Henry Ford creates the moving assembly line.
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Federal bureau of the Budget established to oversee government spending
