This bill's impact was made permanent by the McFadden Act of 1927 and the creation of the FOMC in the 1930s.
Some people claimed that this bill was written at the Jekyll Island Club. During debate over this bill, Senator Bris- tow stated, "The Senator from Oklahoma has accepted the most vicious provisions of the Aldrich Plan," and he added that the Senate's behavior "would have made Alexander Hamilton blush." This bill's impact was made permanent by the McFadden Act of 1927 and the creation of the FOMC in the 1930s. Sometimes referred to as Glass-Owen, its passage six years after the Panic of 1907 led to debates over how to select the eight to twelve cities it referred to and whether New York City would have a special status within that group, and its supporters claimed that it would stabi- lize the economy. Name this bill that created our current financial system.
Some people claimed that this bill was written at the Jekyll Island Club.
{Federal Reserve} Act [accept {Glass}-{Owen Bill} before it is mentioned]