48

* The most prominent banker in Boston.

26 

Warburg did most of the talking. He had a new 

suggestion in regard to grouping the regular reserve 

banks so as to get the units welded together and in easier 

touch with the Federal Reserve Board."

George Sylvester Viereck in The Strangest Friendship in History, 

Woodrow Wilson and Col. House wrote: "The Schiffs, the Warburgs, the 

Kahns, the Rockefellers, the Morgans put their faith in House. When the 

Federal Reserve legislation at last assumed definite shape, House was 

the intermediary between the White House and the financiers."20

On page 45, Viereck notes, "Col. House looks upon the reform of the 

monetary system as the crowning internal achievement of the Wilson 

Administration."21

The Glass Bill (the House version of the final Federal Reserve Act) had 

passed the House on September 18, 1913 by 287 to 85. On December 

19, 1913, the Senate passed their version by a vote of 54-34. More than 

forty important differences in the House and Senate versions remained 

to be settled, and the opponents of the bill in both houses of Congress 

were led to believe that many weeks would yet elapse before the 

Conference bill would be ready for consideration. The Congressmen 

prepared to leave Washington for the annual Christmas recess, 

assured that the Conference bill would not be brought up until the 

following year. Now the money creators prepared and executed the 

most brilliant stroke of their plan. In a single day, they ironed out all 

forty of the disputed passages in the bill and quickly brought it to a