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the subject of the Federal Reserve, threatening to keep them in session until they passed it.
Wilson got Bryan’s support by making him Secretary of State, and in October, 1913, Bryan said
he would assist the President in “securing the passage of the Bill at the earliest possible
moment.”
The Glass Bill (HR7837) was introduced in the House of Representatives on June 26, 1913.
The revision mentioned nothing about central banking, which was what the people feared. It was
believed that Willis had written the Bill, but it was later discovered that Professor James L.
Laughlin, at the Political Science Department of Columbia University, had written it, taking
special precaution not to clash with the Bryan plank of the Democratic Party Platform. It was
referred to the Banking and Currency Committee, reported back to the House on September 9th,
and passed on September 18th.
Sen. Robert Latham Owen of Oklahoma, Chairman of the Senate Banking and Finance
Committee, along with five of his colleagues, drafted a Bill which was more open-minded to the
suggestions of the bankers. A Bill drafted by Sen. Gilbert M. Hitchcock, a Democrat from
Nebraska, called for the elimination of the ‘lawful money’ provision, and stipulated that note
redemption must be made in gold. It also provided for public ownership of the regional reserve
banks, which would be controlled by the government.
In the Senate, the Glass Bill was referred to the Senate Banking Committee, and reported
back to the Senate on November 22, 1913. The Bill was now known as the Glass-Owen Bill.
Sen. Owen, who opposed the Aldrich Bill, made some additional revisions, in an attempt to keep
them from completely dominating our monetary system. Sen. Elihu Root of New York criticized
some of these revisions, and some points were modified. It was passed by the Senate on
December 19th.
Since different versions had been passed by both Houses, a Conference Committee was
established, which was stacked with six Democrats and only two Republicans, to insure that
certain portions of the original Bill would remain intact. It was hastily prepared without any
public hearings, and on December 23, 1913, two days before Christmas, when many
Congressmen, and three particular Senators, were away from Washington; the Bill was sent to
the House of Representatives, where it passed 298-60, and then sent to the Senate, where it
passed with a vote of 43-25 (with 27 absent or abstaining). An hour after the Senate vote, Wilson
signed the Federal Reserve Act into law, and the Illuminati had taken control of the American
economy. The gold and silver in the nation’s vaults were now owned by the Federal Reserve.
Baron Alfred Charles Rothschild (1842-1918), who masterminded the entire scheme, then made
plans to further weaken our country’s financial structure.
Although Wilson, and Rep. Carter Glass were given the credit for getting the Federal Reserve
Act through Congress, William Jennings Bryan played a major role in gaining support to pass it.
Bryan later wrote: “That is the one thing in my public career that I regret- my work to secure the
enactment of the Federal Reserve Law.” Rep. Glass would later write: “I had never thought the
Federal Bank System would prove such a failure. The country is in a state of irretrievable
bankruptcy.”
Eustace Mullins, in his book The Federal Reserve Conspiracy, wrote: “The money and credit
resources of the United States were now in complete control of the banker’s alliance between J.
P. Morgan’s First National Bank, and Kuhn & Loeb’s National City Bank, whose principal
loyalties were to the international banking interests, then quartered in London, and which moved
to New York during the First World War.”
The Reserve Bank Organization Committee, controlled by Secretary of the Treasury,