Creation
An early version of the Federal Reserve Act was drafted in 1910 on Jekyll Island, Georgia, by Republican Senator Nelson Aldrich, chairman of the National Monetary Commission, and several Wall Street bankers. The final version, with provisions intended to improve public oversight and weaken the influence of the New York banking establishment, was drafted by Democratic Congressman Carter Glass of Virginia.
Read more about this topic: Criticism Of The Federal Reserve
Famous quotes containing the word creation:
“The human spirit is itself the most wonderful fairy tale that can possibly be. What a magnificent world lies enclosed within our bosoms! No solar orbit hems it in, the inexhaustible wealth of the total visible creation is outweighed by its riches!”
—E.T.A.W. (Ernst Theodor Amadeus Wilhelm)