Trump v. Cook · ¶97

The champion of the Federal Reserve Act in Congress shared this understanding. Senator Nelson Aldrich, “the most influential figure in Congress on financial matters,” joined forces with Warburg to enact banking legislation. M. Whitehouse, Paul Warburg’s Crusade to Establish a Central Bank in the United States, 3 The Region 7, 9 (May 1989) (Whitehouse). Aldrich too “envisioned a European- type central bank for the United States.” Id., at 10; accord, 1 P. Warburg, The Federal Reserve System: Its Origin and Growth 33, 56 (1930) (Warburg). Aldrich, like Warburg, wanted “to transplant the system of one of the great European banks . . . bodily to America.” N. Stephenson, Nelson W. Aldrich: A Leader in American Politics 378 (1930) (Stephenson).

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