The Final Phase: Coping with the Democratic Ascendancy

Tags: The Fed, Money and Banks, U.S. History

06/26/2026 Murray N. Rothbard

With the Democrats ascendant under Wilson, the reformers repackage the Aldrich Plan as the ostensibly decentralized, government-supervised Federal Reserve—essentially the same central bank under a new name, with Morgan-allied interests securing control.

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