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:
“If we admit a thing so extraordinary as the creation of this world, it should seem that we admit something strange, and odd, and new to human apprehension, beyond any other miracle whatsoever.”
—George Berkeley (1685–1753)
“The creation of a world view is the work of a generation rather than of an individual, but we each of us, for better or for worse, add our brick to the edifice.”
—John Dos Passos (1896–1970)
“Since we are assured that the all-wise Creator has observed the most exact proportions of number, weight and measure in the make of all things, the most likely way therefore to get any insight into the nature of those parts of the Creation which come within our observation must in all reason be to number, weigh and measure.”
—Stephen Hales (1677–1761)