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:
“A fact is the end or last issue of spirit. The visible creation is the terminus or the circumference of the invisible world.”
—Ralph Waldo Emerson (1803–1882)
“Party action should follow, not precede the creation of a dominant popular sentiment.”
—J. Ellen Foster (1840–1910)
“Poetry, at all times, exercises two distinct functions: it may reveal, it may unveil to every eye, the ideal aspects of common things ... or it may actually add to the number of motives poetic and uncommon in themselves, by the imaginative creation of things that are ideal from their very birth.”
—Walter Pater (1839–1894)