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Aldrich plan

Plan for a single central bank with fifteen branches, drafted at Jekyll Island in 1910 and sent to Congress in 1912 as the National Reserve Association.

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Dates
Nov 1910 – 1912
Also known as
National Reserve Association plan

Connections 5

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author

  • Nelson Aldrich Jan 1911 Scholarship & press 1

    Presented it to the Commission in January 1911.

  • National Monetary Commission Jan 1912 Scholarship & press 1

    The Commission sent its report, with legislative text, to Congress on 8 January 1912.

influenced

written at

Timeline 4 dates
  1. Nov 1910 – 1912 Aldrich plan
  2. Nov 1910 Aldrich plan written at Jekyll Island
  3. Jan 1911 Nelson Aldrich authored Aldrich plan
  4. Jan 1912 National Monetary Commission authored Aldrich plan
Proof 1 source
  1. The Meeting at Jekyll Island, Federal Reserve History (Federal Reserve Banks and Board of Governors), 4 Dec 2015. Scholarship & press
    But the plan written on Jekyll Island laid a foundation for what would eventually be the Federal Reserve System.
    Aldrich presented it to the National Monetary Commission in January 1911
    A final report, along with legislative text, went to Congress a year later with a few minor changes, including naming the new institution the National Reserve Association.
    Letter from Secretary of the National Monetary Commission, Transmitting, Pursuant to Law, the Report of the Commission. Washington: Government Printing Office, January 8, 1912.
    The technical details of the final bill closely resembled those of the Aldrich Plan.
    met at the Jekyll Island Club, off the coast of Georgia, to write a plan to reform the nation's banking system
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