When Woodrow Wilson became president in 1912,the most serious shortcoming in the country's financial structure was that

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The most serious shortcoming in the country's financial structure when Woodrow Wilson became president was that money for lending was inelastic and heavily concentrated in New York City. This meant that other regions of the country had limited access to credit, which hindered economic growth and development. The centralization of financial power in New York City also led to instability and contributed to the financial panics of the early 20th century. Wilson's administration worked to address this issue by creating the Federal Reserve System in 1913, which provided greater flexibility in the money supply and helped to decentralize financial power.

When Woodrow Wilson Became President in 1912,the Most Serious Shortcoming