February 3 – The 16th Amendment to the United States Constitution is ratified, authorizing the Federal government to impose and collect income taxes on all sources of income, not just some.
December 23 – The Federal Reserve System is created as the central banking system of the United States, by Woodrow Wilson's signature of the Federal Reserve Act.
Just a couple of notes from 1913:
February 3 – The 16th Amendment to the United States Constitution is ratified, authorizing the Federal government to impose and collect income taxes on all sources of income, not just some.
December 23 – The Federal Reserve System is created as the central banking system of the United States, by Woodrow Wilson's signature of the Federal Reserve Act.