A Classification of American Wealth
History and genealogy of the wealthy families of America - Sponsors

 Part 1 : Colonial and Mercantile America  Part 2 : America in the Gilded Age
 Part 3 : America in the Twentieth Century  Encyclopedia of American Wealth

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   Paul Warburg - father of the Fed

Page entitled : Paul Warburg and the Federal Reserve system

Content of this page is about :
How Paul Warburg's essays on an American central bank inspired the Federal Reserve Act and of his nomination to the Federal Reserve Board in 1914

Extract :
The panic of 1907 influenced Paul Warburg's life more than any other banker's, because it launched him on a crusade, which culminated in his appointment as a member of the Federal Reserve Board by Woodrow Wilson in 1914. Encouraged by professor Edwin Robert Anderson Seligman, Paul Warburg presented his ideas to bankers, economists and politicians and published his earlier essay under the title "Defects and Needs of Our Banking System" in the New York Times edition of November 12, 1907. He was recognized an expert on central banking and included in a secret meeting,   ...


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