Who authored the Federal Reserve Act of 1913?

Answer 1

Paul M. Warburg AKA Paul Moritz Warburg Born: 10-Aug-1868 Birthplace: Hamburg, North German Confederation Died: 24-Jan-1932 Cause of death: unspecified Gender: Male Religion: Jewish Race or Ethnicity: White Occupation: Business Party Affiliation: Republican Nationality: United States Executive summary: The Federal Reserve System Warburg's account of his participation in banking reform and his voluminous essays on the subject are contained in his The Federal Reserve System: Its Origin and Growth (2 vols., 1930). There is no biography of Warburg. Warburg was elected a director of Wells Fargo & Company in February 1910. He resigned in September 1914 following his appointment to the Federal Reserve Board, and Jacob Schiff was elected to his seat on the Wells Fargo board.[7] Paul Warburg became known as a persuasive advocate of central banking in America, in 1907 publishing the pamphlets "Defects and Needs of Our Banking System" and "A Plan for A Modified Central Bank". His efforts were successful in 1913 with the founding of the Federal Reserve System. He was appointed a member of the first Federal Reserve Board by President Woodrow Wilson, serving until 1918. In 1919 he founded and became first chairman of the American Acceptance Council. He organized and became the first chairman of the International Acceptance Bank of New York in 1921. International Acceptance was acquired by the Bank of the Manhattan Company in 1929, with Warburg becoming chairman of the combined organization. He became a director of the Council on Foreign Relations at its founding in 1921, remaining on the board until his death. From 1921 to 1926 Warburg was a member of the advisory council of Federal Reserve Board, serving as president of the advisory council in 1924-26. He was also a trustee of the Institute of Economics, founded in 1922; when it was merged into the Brookings Institution in 1927, he became a trustee of the latter, serving until his death.[8][9] Warburg was notable on March 8, 1929, for warning of the disaster threatened by the wild stock speculation then rampant in the United States, foretelling the crash which occurred in October of that year US Federal Reserve Governor (1913-18) Federal Reserve Founder (1913) Member of the Board of Kuhn, Loeb & Co. Partner (1901-13 and 1918-32) Member of the Board of Union Pacific Member of the Board of Western Union American I.G. Chemical Bank of the Manhattan Company Chairman (1929-32) Farmer's Loan and Trust Co. M.M. Warburg & Co. Partner Council on Foreign Relations Director (1921-32) Warburg Family German Ancestry Jewish Ancestry Author of books: A Plan for a Modified Central Bank (1907) Defects and Needs of Our Banking System (1907)