In the autumn of 1910 six men went out to shoot ducks

In the autumn of 1910 six men went out to shoot ducks, Aldrich, his secretary Shelton, Andrews, Davison, Vanderlip and Warburg.            -Nathaniel Wright Stephenson:  Nelson W. Aldrich, A Leader in American Politics, Scribners, N.Y., 1930, chap. XXIV

The Aldrich group journeyed in private to write the banking and currency legislation which the National Monetary Commission had been ordered (by Congress) to prepare in public.  At stake was the future control of the money and credit of the United States.  The “monetary reform” plan prepared at Jekyll Island, Georgia was to be presented to Congress as the completed work of the National Monetary Commission.  It was imperative that the real authors of the bill remain hidden….

The main problem, as Paul Warburg informed his colleagues, was to avoid the name “Central Bank”.  For that reason, he had decided upon the designation of “Federal Reserve System”.  This would deceive the people into thinking it was not a central bank.  However the Jekyll Island plan would be a central bank plan, fulfilling the main functions of a central bank; it would be owned by private individuals who would profit from ownership of shares….Warburg writes, “The results of the conference were entirely confidential.  Even the fact there had been a meeting was not permitted to become public.”  -Paul Warburg:  The Federal Reserve System, Its Origin and Growth, I, Macmillan, New York, 1930, p. 60

The coverup of the Jekyll Island conference proceeded along two lines, both of which were successful….Professor Seligman points out (in Academy of Political Science, Proceedings, v. 4, No. 4, pp. 387-90) Warburg’s remarkable prescience that the real task of the members of the Jekyll Island conference was to prepare a banking plan which would gradually “educate the country” and “break down prejudices and remove suspicion”.  The campaign to enact the plan into law succeeded in doing just that. …Three of the leading universities– Princeton, Harvard, and the University of Chicago– were used as the rallying points for this propaganda…During the Panic of 1907 Woodrow Wilson had declared, “All this trouble could be averted if we appointed a committee of six or seven public-spirited men like J.P. Morgan to handle the affairs of our country.”       -Eustace Mullins:  Secrets of the Federal Reserve, 1991, pp. 1-8                 see




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