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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Earlie who wrote (88153)	1/9/2001 1:38:10 PM
From: Mike M2	Read Replies (2) \| Respond to of 132070

Earlie, Senator Henry Cabot Lodge on the Federal Reserve Act 1913 New York City, December 17, 1913 "'My Dear Senator Weeks: "'Throughout my public life I have supported all measures designed to take the Government out of the banking business. This bill puts the Government into the banking business as never before in our history. "'The powers vested in the Federal Reserve Board seen to me highly dangerous especially where there is political control of the Board. I should be sorry to hold stock in a bank subject to such dominations. The bill as it stands seems to me to open the way to a vast inflation of the currency. "'I had hoped to support this bill, but I cannot vote for it cause it seems to me to contain features and to rest upon principles in the highest degree menacing to our prosperity, to stability in business, and to the general welfare of the people of the United States. Very Truly Yours, Henry Cabot Lodge.'" from home.hiwaay.net