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Thread: Making Sense of the Federal Reserve

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  1. #1
    Quote Originally Posted by walter View Post
    Apparently the people in the painting of Woodrow Wilson signing the Fed Res Act like David Franklin Houston
    5th United States Secretary of Agriculture written their own books.
    And they reveal some big secretes in them but of course these books are very hard to find.
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    Good Keys lead to wonderful sources...

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    But I must add that I have not gone to the federal repository looking for books by the others in the photo. Here is a sharper photo...

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    P.S. I recall collecting these photos when people were trying to convince me that WILSON had made some kind of statement or utterance that he regretted what the Fed Act has done to America. It is not in the one source book that I found cited and I doubt it was ever said by Woodrow...
    Last edited by David Merrill; 08-11-16 at 11:46 PM.

  2. #2
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    Quote Originally Posted by David Merrill View Post

    But I must add that I have not gone to the federal repository looking for books by the others in the photo.
    There are heavy hitters sitting in that circle.

    Houston
    In 1913 Woodrow Wilson, after conferring with Edward M. House, picked Houston as secretary of agriculture. An unusual amount of agricultural legislation was passed during the seven years Houston held the office: the Smith-Lever Act (agricultural extension), the Farm Loan Act, the Warehouse Act (storage of nonperishable crops), and the Federal Aid Road Act, which for the first time established effective cooperation between the states and the federal government in the building of national highways.

    During the last year of Wilson's presidency, Houston served as secretary of the treasury. He described his cabinet experience in his memoirs, Eight Years With Wilson's Cabinet, a two-volume work published in 1926.

    After leaving government service Houston began a successful business career that culminated in his election in June 1930 as president of the Mutual Life Insurance Company of New York, a position he held for ten years. He was also a director of several corporations, including the American Telephone and Telegraph Company, the Guaranty Trust Company, and the United States Steel Corporation. He served as overseer of Harvard University and as a member of the board of trustees of Columbia University.

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