The Gold Standard Act is ratified by president William McKinley on March 14, 1900, which placed the United States currency on the gold standard. This established gold as the only standard for redeeming paper money, stopping bimetallism. In 1933 though, the United States abandoned the gold standard and just stuck to the federal reserve notes.
Another financial crisis occurs and March 1907 marks the start of the Financial Panic and depression of 1907, which led to the Federal Reserve Bank in 1913.
May of 1911 the Standard Oil Company, owned by John D. Rockefeller, is declared an unreasonable monopoly and is dissolved by the Sherman AntiTrust Act. The Standard Oil Company put many oil refineries out of business easily.
Due to the many financial panics in American history, the Federal Reserve System was established on December 23, 1913. Congress compromised with a national bank with both private and public characteristics.
The US economy prospered under World War I because of manufacturing and buying , and the stock market had its best year in history in 1916. The US gold reserve doubled between 1913 and 1918, causing the price level to rise.