Suchergebnisse
Suchergebnisse:
Nelson (Aldrich) had confided to Henry, Frank, Paul and Piatt that he was to keep them locked up at Jekyll Island, out of the rest of the world, until they had evolved and compiled a scientific currency system for the United States, the real birth of the present Federal Reserve System, the plan done on Jekyll Island in the conference with Paul, Frank and Henry . . . . Warburg is the link that ...
In 1913, two years after Aldrich retired, President Woodrow Wilson signed the Federal Reserve Act, a law containing many elements derived from the Aldrich plan, thereby creating the modern Federal Reserve System. Despite his acknowledged contribution to this new financial system, Aldrich spoke out against it, because it gave the president power to appoint the board of governors and permitted ...
The Reserve Association would make emergency loans to member banks, would create money to provide an elastic currency that could be exchanged equally for demand deposits, and would act as a fiscal agent for the federal government. The Aldrich Plan was defeated in the House as expected, but its outline became a model for a bill that eventually was adopted.
29. Mai 2018 · A resourceful leader, Aldrich was a man of extraordinary charm, lucidity, and willpower. He served two terms in the Rhode Island Legislature and one in Congress before being elected to the U.S. Senate in 1881. There for 30 years he represented the corporate and financial world's point of view with wit, irony, and intelligence.
Because the federal government lacked the tools to respond, it had to depend on private bankers, such as J. P. Morgan, to provide an infusion of capital to sustain the banking system. To correct the problem of an “inelastic currency,” Congress created a National Monetary Commission, chaired by Rhode Island Republican senator Nelson Aldrich ...
A history of the Federal Reserve, volume 1: 1913–1951. Chicago: University of Chicago Press. Todd, Tim. 2009. The balance of power: The political fight for an independent central bank, 1790–present. Federal Reserve Bank of Kansas City. Wicker, Elmus. 2005. The great debate on banking reform: Nelson Aldrich and the origins of the Fed ...
The subtitle of the book is Nelson Aldrich and the Origins of the Fed and the author makes no secret of his intention to acknowledge the debt owed to Nelson Aldrich for the successful passage of the Federal Reserve Act. The point is well-argued, well-worth making, and it is simple. Nelson Aldrich participated in the investigation of other central banks, he was crucial in guiding the momentum ...
