December 23rd, 2004

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This Day In History, 1913

On December 23, 1913, President Woodrow Wilson signed the Owen-Glass Act, creating the Federal Reserve System.

The first major banking reform to follow the Civil War, the Federal Reserve was organized to regulate banking and provide the nation with a more stable and secure financial and monetary system. It remains the central banking authority of the United States, establishing banking policies, interest rates, and the availability of credit. It also acts as the government's fiscal agent and regulates the supply of currency.

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Novel Progress: 50,000 Words

Today the five pages I wrote brought the first draft of the novel to 50,000 words.

So here's where I am. The first draft of Part One is finished. I'm currently in the very beginning of Part Two. I'll be taking the rest of December off from writing the book, using that time instead to flesh out the rest of the outline. There's a lot of different plot possibilities for Part Two, and I want to figure out where that part of the book will go before I write the actual scenes.

Oddly enough, I have a much better handle on Part Three, as I know what the final confrontation of the book has to be. But I'd rather figure out what path I'm choosing to get there before I write it.

In the meantime, I'm enjoying the feeling of being halfway done with the first draft.

May everyone 's creative projects be successful.