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  1. The Aldrich Plan strongly influenced the Federal Reserve Act of 1913, which established the Federal Reserve System. Aldrich also sponsored the Sixteenth Amendment, which allowed for a direct federal income tax .

  2. 4. Dez. 2015 · In November 1910, six men – Nelson Aldrich, A. Piatt Andrew, Henry Davison, Arthur Shelton, Frank Vanderlip and Paul Warburg – met at the Jekyll Island Club, off the coast of Georgia, to write a plan to reform the nation’s banking system. The meeting and its purpose were closely guarded secrets, and participants did not admit ...

  3. 23. Dez. 2013 · One person in particular decided this was a problem: Sen. Nelson Aldrich, chairman of the Senate finance committee. Aldrich knew there was something America could do so that it would no longer...

  4. His Aldrich Plan, providing for flexible cash reserves, was the forerunner of the Federal Reserve System. Although Aldrich rarely spoke on the Senate floor, preferring the more casual atmosphere of the committee room, by the turn of the 20th century he became the leading figure in the Republican caucus and was one of the Senate Four , a ...

  5. The Panic of 1907 also got the attention of Republican Sen. Nelson Aldrich, the chair of the Senate Finance Committee. Aldrich was one of the most powerful politi­cians of his time: President Theodore Roosevelt dubbed him the "kingpin" of the Republicans, and journalists called him (not fondly) the "boss of the United States." Aldrich was a ...

  6. 16. Dez. 2013 · Der republikanische Senator für Rhode Island, Nelson Wilmarth Aldrich, ein hoher Spitzenbeamter des Finanzministeriums, und fünf mächtige Bankiers kamen zusammen, um die Gründung einer Zentralbank voranzutreiben. Mehrere Tage lang diskutierten sie alle wichtigen Aspekte und arbeiteten einen Vorschlag zuhanden des Kongresses aus.

  7. 12. Apr. 2024 · Nelson W. Aldrich, American Republican politician and financier who represented Rhode Island in the U.S. House of Representatives and the Senate. His work on the Aldrich-Vreeland Currency Act of 1908 and his chairmanship of the National Monetary Commission helped prepare the way for the Federal Reserve Act of 1913.