The Mises Institute dug up this cartoon from 1912 showing what would happen if the Federal Reserve Act was adopted in 1913; this is exactly what has happened.
The picture above was taken from a prophetic book written in 1912 (Just before the Federal Reserve Act of 1913 – “Aldrich Plan”) by a person who lived through the Civil War.
Below is a warning from the 1st Chapter:
A Warning. – Wall Street and Big Banks Promoting the “Aldrich Plan”. Patriotic Bankers Are Fighting the Measure. Will This New Issue Create a New Political Party – the National Progressive Party? “Shall the People Rule” – Their money Supply?
Source
Related reading:
The Jekyll Island Duck Hunt That Created the Federal Reserve
Jekyll Island History
A Return to Jekyll Island: The Origins, History, and Future of the Federal Reserve
Federal Reserve Bank of Atlanta
The Aldrich Plan [Secrets of The Federal Reserve]
Cephas Library
Nelson W. Aldrich
Wikipedia
History of Central Banking in The United States
Wikipedia
History of The Federal Reserve System
Wikipedia
Federal Reserve Act
Wikipedia
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