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day trip each way for bankers from the Far West to come to
Washington for a council meeting with the Federal Reserve Board.
These men had extensive business interests which demanded their
time. J.P. Morgan was a director of sixty-three corporations which held
annual meetings, and
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* "The Federal Advisory Council has great influence with the Federal
Reserve Board. Conspicuously upon that council is J.P. Morgan, the
leading member of J.P. Morgan Company and son of the late J.P.
Morgan. Every one of the twelve members of the Advisory Council, as
you well know, was educated in the same atmosphere. The Federal
Reserve Act is not only a special privilege act but privileged persons
have been placed in control and are its advisors in its administration.
The Federal Reserve Board and the Federal Advisory Council
administer the Federal Reserve System as its head authority, and no
one of the lesser officials, even if they wished, would dare to cross
swords with them."
(FROM: "Why Is Your Country At War?" by Charles Lindbergh, published
in 1917). The above paragraph explains why Woodrow Wilson ordered
government agents to seize and destroy the printing plates and copies
of this book in the spring of 1918.
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could hardly be expected to travel to Washington to attend meetings
of the Federal Reserve Board if his advice was to be considered of no
importance.**
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