The Creation of the Fed

Paper Summary:

This paper discusses the influences of big industrialists such as Rockefeller, Carnegie, and other big bosses of the trust that led to the creation of the United States Federal Reserve Bank (also known as the Fed). The paper then further discusses their role in the creation of the Fed in the early 1900s. It particularly discusses how their influence resulted in their financial power on the corporate, governmental and institutional level in the United States, as well as on a global basis.

Table of Contents:
Objective
Introduction
I. The Panic Of 1907
II. Jekyll Island
III. Rockefeller's Role In The Creation Of The Fed
IV. Carnegie's Role In The Creation Of The Fed
Summary And Conclusion

From the Paper:

"It is clear that Carnegie and Rockefeller money was invested in the motivating and directing forces of the establishment of the Federal Reserve System. The discovery made in the research of this subject leads to the discovery of some very sinister political ties which existed between these two named wielders of financial power on the corporate, governmental and institutional level in the United States as well as on a global basis. This power moves throughout the entire scheme of history and continues to move in today's world events. The New Standard Encyclopedia states of the Federal Reserve System that: "After World War I, the Federal Reserve System followed various policies designed to increase the supply of bank credit. It was believed that the economic growth of the country required such measures, but some authorities now think that these policies contributed to the 1928 stock market boom and collapse." (New Standard Encyclopedia, Vol. 3 Chicago Press, 1984) Certainly the Carnegie and Rockefeller Foundations are both still active in today's world through the many funding programs of each which leads one to further considerations in study in pursuit of obtaining knowledge of the powers that have shaped the historical development of the United States government and policies."

Sample of Sources Used:

• French, Douglas E. (1994) Separating Money and the State, Part I: Eighty Years of Destruction" October 1994. Online available at: http://www.fff.org/freedom/1094e.asp.
• Mullins, Eustace (1982) Historical Beginnings...The Federal Reserve "The London Connection". The Federal Reserve Bank of Boston, 1982. Online available at: http://www.apfn.org/apfn/reserve.htm.
• Nathaniel Wright Stephenson (1930) Nelson W. Aldrich, A Leader in American Politics, Scribners, N.Y. 1930.
• Charles A. Lindbergh, Sr. (1913) Banking, Currency and the Money Trust, 1913, p. 131
• George Sylvester Viereck, The Strangest Friendship in History, Woodrow Wilson and Col. House, Liveright, New York, 1932

More papers on The Creation of the Fed:

• Research Paper # 103753 : "The History of the Federal Reserve System"
• Research Paper # 40153 : "The Bank of Canada"
• Term Paper # 113676 : "The Federal Reserve System"

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