Creature From Jekyll Island by G. Edward полностью

the illusion of decentralization, but the mechanism was designedfrom the beginning to operate as a central bank closely modeledafter the Bank of England.

The first draft of the Federal Reserve Act was called the AldrichBill and was co-sponsored by Congressman Vreeland, but it wasnot the work of either of these politicians. It was the brainchild ofbanker Paul Warburg and was actually written by bankers FrankVanderlip and Benjamin Strong.

Aldrich's name attached to a banking bill was bad strategy,because he was known as a Wall Street Senator. His bill was notpolitically acceptable and was never released from committee. Thegroundwork had been done, however, and the time had arrived tochange labels and political parties. The measure would nowundergo minor cosmetic surgery and reappear under the sponsorship of a politician whose name would be associated in the publicmind with anti-Wall Street sentiments.

Chapter Twenty-Two

THE CREATURE

SWALLOWS

CONGRESS

The second attempt to pass legislation to legalize

the banking cartel; the bankers' selection of

Woodrow Wilson as a Presidential candidate;

their strategy to get him elected; the role played byWilson to promote the cartel's legislation; the

final passage of the Federal Reserve Act.