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THE

FEDERAL RESERVE ACT

66

'That one Measure won the War”

-JOHN SKELTON WILLIAMS

Comptroller of the Currency

The

Federal Reserve Act

BY

HON. ROBERT L. OWEN

UNITED STATES SENATOR OF OKLAHOMA

CHAIRMAN OF THE UNITED STATES SENATE COMMITTEE
ON BANKING AND CURRENCY

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THE FEDERAL

RESERVE ACT

ITS ORIGIN AND PRINCIPLES

by

ROBERT L. OWEN

A REMINISCENCE

HE Federal Reserve Act has now

Tso completely

so completely demonstrated its value, and is so widely approved by the business men of America and of the world, that I have yielded to the suggestion that I should write a short sketch of its origin and principles, as a personal reminiscence, having no time at present to write a full history of this Act.

The backbone of the Federal Reserve Act is:

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