One of the most important squid-spawning areas in Monterey Bay is a wide, flat, sandy area directly offshore of Monterey's Fisherman's Wharf. This area is a convenient fishing spot for the Monterey fishing fleet and a convenient feeding spot for the large packs of sea lions that hang out on Monterey Breakwater in May.
President Woodrow Wilson signed the Federal Reserve Act on December 23, 1913. The Act established the Federal Reserve System to oversee the nationâs money supply and provide an âelasticâ currency that could expand and contract in response to the economyâs changing demand for money and credit.Congress also empowered Federal Reserve Banks to issue Federal Reserve notes.he Act established the Federal Reserve System to oversee the nationâs money supply and provide an âelasticâ currency that could expand and contract in response to the economyâs changing demand for money and credit.
The Federal Reserve System was established in accordance with the Federal Reserve Act of December 23, 1913. According to the act, there would be between eight and twelve Federal Reserve banks, each functioning as the central bank for its district.he Federal Reserve System was established in accordance with the Federal Reserve Act of December 23, 1913. According to the act, there would be between eight and twelve Federal Reserve banks, each functioning as the central bank for its district.