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Reserve System, these also attracted little public attention. As we 

have noted, Warburg’s massive and supposedly definite work on 

the Federal Reserve System does not mention Jekyll Island at all, 
although he does admit that a conference took place. In none of 
his voluminous speeches or writings do the words "Jekyll Island" 

appear, with a single notable exception. He agreed to Professor 

Stephenson’s request that he prepare a brief statement for the 
Aldrich biography. This appears on page 485 as part of "The 

Warburg Memorandum". In this excerpt, Warburg writes, "The matter 

of a uniform discount rate was discussed and settled at Jekyll 
Island."

Another member of the "First Name Club" was less reticent. Frank 
Vanderlip later published a few brief references to the conference. 

In the Saturday Evening Post, February 9, 1935, p. 25, Vanderlip 
wrote:

"Despite my views about the value to society of greater publicity for 
the affairs of corporations,

there was an occasion near the close of 1910, when I was as 
secretive, indeed, as furtive, as any

conspirator. . . . Since it would have been fatal to Senator Aldrich’s 
plan to have it known that he

was calling on anybody from Wall Street to help him in 

preparing his bill, precautions were taken that would 

have delighted the heart of James Stillman (a colorful 
and secretive banker who was President of the 
National  City  Bank  during  the Spanish-American War, 
and who was thought to have been involved in getting 

us into that war) . . . I do not feel it is any exaggeration 

to speak of our secret expedition to Jekyll Island as the 
occasion of the actual conception of what eventually 
became the Federal Reserve System."

In a Travel feature in The Washington Post, March 27, 1983, "Follow 
The Rich to Jekyll Island", Roy Hoopes writes:

"In 1910, when Aldrich and four financial experts wanted a place to 
meet in secret to reform the

country’s banking system, they faked a hunting trip to Jekyll and for 

10 days holed up in the