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 Act of 1913 is an Act of Congress and signed  into law by US President Woodrow Wilson. The Federal Reserve  System's original purposes were to give the c â¦ ountry an elastic  currency, to provide facilities for discounting commercial paper  and to improve the supervision of banking. In the United States, the Federal Reserve is responsible for a dualâ¦. 2  The Federal Reserve and Inflation Rates The Federal Reserve, on top of other important roles, monitors and attempts to control inflation.