The result was a secret meeting with the leading bankers of the day, including Benjamin Strong, adviser to J.P. Morgan and eventual first president of the Federal Reserve Bank of New York, at Jekyll Island in Georgia, the rich conclave many wealthy Montanans knew so well.
Jekyll Island in 1900
Also called the Millionaires Club, the club was founded in 1886 and included some of the wealthiest families in the country like the Morgans, Rockefellers, and Vanderbilts.
Montana’s Marcus Daly was a member, as was railroad tycoon and patriarch of Montana’s Hi-Line, James J. Hill. Railroad financier E.H Harriman was another, and together these men benefited from Rothschild banking money when it came to funding their operations and expansion.
These rich industrialists and bankers came up with the Federal Reserve Bank of New York, which would become the leading bank of the Federal Reserve System, the institution and framework that was hammered out over those three years following the Panic of 1907. Now they just had to get the president to sign it the idea into law.
Montana’s Marcus Daly was a member, as was railroad tycoon and patriarch of Montana’s Hi-Line, James J. Hill. Railroad financier E.H Harriman was another, and together these men benefited from Rothschild banking money when it came to funding their operations and expansion.
These rich industrialists and bankers came up with the Federal Reserve Bank of New York, which would become the leading bank of the Federal Reserve System, the institution and framework that was hammered out over those three years following the Panic of 1907. Now they just had to get the president to sign it the idea into law.
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