Page 4 - Senator Nelson Aldrich News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Today in 1913, The Federal Reserve Act was signed into law by Woodrow Wilson. One of the most deplorable laws in the history of the United States, the act allowed for a cartel of banks to establish a legalized monopoly on the printing of currency, assured the continual artificial manipulation of interest rates, and perpetuated the most inequitable and callous of all taxes – inflation.
Many of the founders were adamantly opposed to central banks for these precise reasons. Thomas Jefferson wrote that he considered such banks to be more dangerous than standing armies, and wrote that paper was the “ghost of money, and not money itself.” James Madison was equally disturbed by the emissions of paper money under the Articles of Confederation, remarking that “restraints against paper emissions and violations of contracts are not sufficient.” Under that system, the disastrous paper money experiment of the Continentals, along with inflationary state bills of credit, had produc ....

United States , Nelson Aldrich , James Madison , Roger Sherman , Woodrow Wilson , Thomas Mckean , Thomas Jefferson , Jp Morgan , Articles Of Confederation , Federal Reserve , Philadelphia Convention , Federal Reserve Act , Jekyll Island , Senator Nelson Aldrich , ஒன்றுபட்டது மாநிலங்களில் , நெல்சன் ஆல்ட்ரிச் , ஜேம்ஸ் மாடிசன் , ரோஜர் ஷெர்மன் , வூட்ரோ வில்சன் , தாமஸ் மகீந் , தாமஸ் ஜெஃபர்சன் , ஜ்ப் மோர்கன் , கட்டுரைகள் ஆஃப் கூட்டமைப்பு , கூட்டாட்சியின் இருப்பு , பிலடெல்பியா மாநாடு , கூட்டாட்சியின் இருப்பு நாடகம் ,