検索キーワード： 著者 "Alfred Owen Crozier" すべてのカテゴリー

In 1908, Congress created the National Monetary Commission to tackle the volatile cycles of financial booms and busts that plagued the nation. Under the leadership of Senator Nelson Aldrich (Republican-RI), this secretive commission, comprised of influential bankers, devised what would be known as The Aldrich Plan. This contentious proposal sought to establish a central bank capable of lending to distressed banks, issuing currency, and acting as the U.S. governments fiscal agent. Critics raised alarms about the potential for excessive power to shift to Wall Street financiers, leaving the ...

In 1908, the National Monetary Commission was established by Congress to study financial boom-and-bust cycles. Senator Nelson Aldrich (Republican-RI) was chair of the commission. He, in secret enclave with a group of bankers, drafted what was called The Aldrich Plan, which provided for a central "bank" that would hold funds individual banks could borrow in the case of a bank run, print currency, and act as the fiscal agent of the US government. However, the plan gave little power to the government and seemed to give almost absolute control of the country's currency to Wall Street financiers. ...