U.S. Money vs. Corporation Currency, "Aldrich plan."

By Alfred Owen Crozier · Running time 16:24:26 · Business & Economics

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About this book

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. T

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