The Federal Reserve System began operating in 1914, finally (a) givin

The Federal Reserve System began operating in 1914, finally

(a) giving the U.S. its first 100 percent gold-backed paper money.
(b) creating a privately-owned system for clearing checks on a national scale.
(c) giving the U.S. its first government-owned central bank.
(d) giving the U.S. its first unified currency issue, the Federal Reserve Note.

ANSWER

(b)