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 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)
“Party action should follow, not precede the creation of a dominant popular sentiment.”
—J. Ellen Foster (1840–1910)
“One of the necessary qualifications of an efficient business man in these days of industrial literature seems to be the ability to write, in clear and idiomatic English, a 1,000-word story on how efficient he is and how he got that way.... It seems that the entire business world were devoting its working hours to the creation of a school of introspective literature.”
—Robert Benchley (1889–1945)