Toomas Trei, Activist PostOn November 22, 1910, Senator Nelson Aldrich, head of the National Monetary Commission, who had studied the European Rothschild and Warburg banks in order to help ‘stabilize’ the U.S. banking system, took a group of international banking representatives by sealed train to a secret meeting on secluded Jekyll Island in Georgia to strategize as to how a U.S. central bank could be created.
Participants included Paul Warburg of Kuhn and Loeb, and representatives for Morgan, Rothschild, Rockefeller and Warburg banks, including Frank A. Vanderlip (President of National City Bank of New York, the forerunner to Citibank) who summarized; “… was an occasion near the close of 1910 when I was as secretive, indeed as furtive as any conspirator … I do not feel it any exaggeration to speak of our expedition to Jekyll Island as the occasion of the actual conception of what eventually became the Federal Reserve System”.[1]
Since President Taft had stated he would veto any central banking legislation, the proponents for this system devised a plan. By running Teddy Roosevelt as a third party Presidential candidate in the 1912 election they were able to reduce Taft votes, enabling the idealistic but malleable Democratic Party candidate, (former president of Princeton University) Woodrow Wilson, to become President. FDR, a rising Democratic Party figure would have seen how political events could be molded to deliver desired outcomes.
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