Trump v. Cook · ¶98

Warburg and Aldrich formulated the “Aldrich Plan” that would eventually lead to the Federal Reserve Act. They met in 1910 with “representatives of three extremely significant New York banks,” id., at 373, “to formulate a plan for U. S. banking and currency reform that Aldrich could present to Congress,” Whitehouse 11. According to Warburg, “Senator Aldrich pledged all participants to secrecy.” 1 Warburg 60, and n. 2; accord, Whitehouse 11; Stephenson 373, 484. In 1911, Senator Aldrich published the eventual plan, which proposed new reserve banks with the capabilities of European banks. See The Aldrich Plan for Banking Legislation (1911); Whitehouse 11–12; 1 Warburg 42, 61–62, 178–423.

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