With the conversion of Bryan, there was no longer any doubtabout the final outcome. The Federal Reserve Act was releasedfrom the joint House and Senate conference committee on December 22, 1913, just as Congress was preoccupied with departure forthe Christmas recess and in no mood for debate. It quickly passedby a vote of 282 to 60 in the House and 43 to 23 in the Senate. ThePresident signed it into law the next day.
The Creature had swallowed Congress.
SUMMARY
President Taft, although a Republican spokesman for bigbusiness, refused to champion the Aldrich Bill for a central bank.
This marked him for political extinction. The Money Trust wanteda President who would aggressively promote the bill, and the manselected was Woodrow Wilson who had already publicly declaredhis allegiance. Wilson's nomination at the Democratic nationalconvention was secured by Colonel House, a close associate ofMorgan and Warburg. To make sure that Taft did not win his bidfor reelection, the Money Trust encouraged the former RepublicanPresident, Teddy Roosevelt, to run on the Progressive ticket. The 1. Glass, pp. 139-42.
THE CREATURE SWALLOWS CONGRESS 469
result, as planned, was that Roosevelt pulled away Republicansupport from Taft, and Wilson won the election with less than amajority vote. Wilson and Roosevelt campaigned vigorouslyagainst the evils of the Money Trust while, all along, beingdependent upon that same Trust for campaign funding.
