Water chiller. A water chiller is a mechanical device used to facilitate heat exchange from water to a refrigerant in a closed loop system. The refrigerant is then pumped to a location where the waste heat is transferred to the atmosphere.
Banking in the United States before creation of the Federal Reserve System was, to say the least, chaotic. Early American Banking: 1791-1863. Banking in the America of 1863 was far from easy or dependable.
About the Author. The Federal Reserve System (the Fed) has been the central bank of the United States since it was created in 1913. The main purpose of a central bank is to regulate the supply of money and credit to the economy.