pink slime. A popular term for an inexpensive, low-quality meat filler, which comprises up to 70% of ground beef sold in the US.ink slime. A popular term for an inexpensive, low-quality meat filler, which comprises up to 70% of ground beef sold in the US.
In 1913, the government established a new federal banking system, the Federal Reserve, to regulate the nation's money supply and to place some controls on banking activities. The largest changes in the government's role occurred during the New Deal, President Franklin D. Roosevelt's response to the Great Depression. During this period in the 1930s, the United States endured the worst business crisis and the highest rate of unemployment in its history.
After the Panic of 1907, Congress began to seek a preventative solution so that a banking panic would never happen again. In order to accomplish this, they passed the Aldrich-Vreeland Act in 1908. The act allowed for the emergency production of currency in a crisis and created the National Monetary Commission.his is a picture of the Senate Banking Committee in session during the debate about the Federal Reserve Act of 1913. At the time, Robert L. Owen, pictured on the right, was head of the committee.