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Person

Nelson Aldrich

U.S. senator who chaired the Senate Finance Committee and the National Monetary Commission.

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  1. chair of National Monetary Commission 1908–1912

Connections 4

chair of

involved in

authored

  • Aldrich-Vreeland Act 1908 Scholarship & press 2

    Sponsored the bill with Representative Edward Vreeland.

  • Aldrich plan Jan 1911 Scholarship & press 2

    Presented it to the Commission in January 1911.

Timeline 3 dates
  1. 1908–1912 Nelson Aldrich chair of National Monetary Commission
  2. 1908 Nelson Aldrich authored Aldrich-Vreeland Act
  3. Jan 1911 Nelson Aldrich authored Aldrich plan
Proof 2 sources
  1. Federal Reserve Act Signed into Law, Federal Reserve History (staff of the Federal Reserve Bank of Kansas City), 22 Nov 2013. Scholarship & press
    created the eighteen-member National Monetary Commission, chaired by Sen. Nelson Aldrich
    The then-secret meeting was organized by financiers and bankers who recognized the nation's need for a central bank and wanted to begin the process.
  2. The Meeting at Jekyll Island, Federal Reserve History (Federal Reserve Banks and Board of Governors), 4 Dec 2015. Scholarship & press
    Aldrich—most likely at Davison's suggestion—decided to convene a small group
    The group included Aldrich; his private secretary Arthur Shelton; Davison; Andrew (who by 1910 had been appointed assistant Treasury secretary); Frank Vanderlip, president of National City Bank and a former Treasury official; and Warburg.
    In 1908, Aldrich sponsored a bill with Republican representative Edward Vreeland that, among other things, created the National Monetary Commission
    Aldrich presented it to the National Monetary Commission in January 1911
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