I have found something funny America's Unknown Enemy: Beyond Conspiracy By the Editorial Staff of the American Institute for Economic Research IV. The Federal Reserve Conspiracy http://www.cooperativeindividualism.org/aier_on_conspiracy_04.html Although it is true that several years before the Federal Reserve bill came before Congress a group of politicians and bankers had met privately to formulate plans for a central banking system, the Federal Reserve Act itself was not passed clandestinely. Conspiracy theorists make much of the "secret" meeting held on Jekyll Island, Georgia in November 1910 as evidence that a conspiracy lay behind the Federal Reserve plan. Consider, for example, the financial reporter B.C. Forbes's account: "Picture a party of the nation's greatest bankers stealing out of New York on a private railroad car under cover of darkness, stealthily hieing hundreds of miles South, embarking on a mysterious launch, sneaking onto an island deserted by all but a few servants, living there a full week under such rigid secrecy that the names of not one of them was once mentioned lest the servants learn the identity and disclose to the world this strangest, most secret expedition in the history of American finance." According to this scenario, the banking houses of 3. P. Morgan and of Kuhn, Loeb and Company - in concert with the Rockefeller "Standard Oil group" at National City Bank - bought influence in Congress and invested in the career of Presidential hopeful Woodrow Wilson in order to secure legislation favorable to their conspiratorial designs. The details of this plot, which resulted in the Federal Reserve System and thereby delivered control of the Nation's money into the hands of the conspirators, allegedly were hatched at the Jekyll Island ultra-secret meeting. The chief figures at this clandestine gathering were: Senator Nelson Aldrich (Nelson Rockefeller's namesake), who was then the head of the National Monetary Commission; Frank Vanderlip, president of the National City Bank of New York; Henry P Davison, senior partner of J. P Morgan Company; Charles D. Norton, president of the First National Bank of New York; Paul Warburg of Kuhn, Loeb and Company (he was the principal author of the draft of the Federal Reserve bill); and Col. Edward Mandel House (he would become President Woodrow Wilson's closest advisor, even though without official title). Especially sinister implications are often drawn in conspiracy literature from the biographies of two of the participants. Paul Warburg, a Jew who emigrated to the United States from Germany in 1904, was the brother of Felix Warburg, also of Kuhn, Loeb, and of the international bankers Max and Fritz Warburg of Germany. Col. House, on the other hand, was a Texan "connected" to the London banking establishment by virtue of his father's Civil War exploits as a blockade runner for the Confederacy. But his greater notoriety derived from a novel he had written the year before Wilson was elected President. That novel, titled Philip Dru, Administrator, ostensibly endorsed "a detailed plan for the future government of the United States" which "would establish Socialism as dreamed by Karl Marx." In conspiracy literature, these men are condemned on the basis of these relationships. Admittedly, the relationships provided opportunity for scheming, but "nonbelievers" are not likely to be persuaded by such circumstantial evidence. The Jekyll Island meeting was indeed convened in secret, but it did not remain a secret for long. And although the imagery of the supposed intrigues on Jekyll Island may be fully consistent with what would be expected of powerful personalities, there is no verifiable evidence that any activities at that meeting constituted conspiracy or fraud. Unquestionably, a draft of legislation - or at least the broad outlines - for a U.S. central bank was drawn there; participants in the meeting subsequently acknowledged and celebrated their "achievement." For example, Frank Vanderlip recalled in his autobiography, "Our secret expedition to Jekyll Island was the occasion of the actual conception of what eventually became the Federal Reserve System. The essential points ... were all contained in the Federal Reserve Act as it was passed." There was and is nothing illegal about collaboration of this type -- that is, collaboration among interested parties. Allegations that "much of the influence exerted to get the Federal Reserve Act passed was done behind the scenes, principally by two shadowy, non-elected persons: The German immigrant, Paul Warburg, and Colonel Edward Mandel House of Texas" describe the way the American legislative process often has worked. Somebody behind the scenes initiates an idea or a working draft that subsequently is publicly debated, revised, and either rejected or adopted.