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)
“Today, each artist must undertake to invent himself, a lifelong act of creation that constitutes the essential content of the artist’s work. The meaning of art in our time flows from this function of self-creation. Art is the laboratory for making new men.”
—Harold Rosenberg (1906–1978)