the action is.

Chapter One

THE JOURNEY TO

JEKYLL ISLAND

The secret meeting on Jekyll Island in Georgia at

which the Federal Reserve was conceived; the

birth of a banking cartel to protect its members

from competition; the strategy of how to convince

Congress and the public that this cartel was an

agency of the United States government.

The New Jersey railway station was bitterly cold that night.

Flurries of the year's first snow swirled around street lights.

November wind rattled roof panels above the track shed and gave a long, mournful sound among the rafters.

It was approaching ten P.M., and the station was nearly empty except for a few passengers scurrying to board the last Southbound of the day. The rail equipment was typical for that year of 1910, mostly chair cars that converted into sleepers with cramped upper and lower berths. For those with limited funds, coach cars were coupled to the front. They would take the brunt of the engine's noise and smoke that, somehow, always managed to seep through unseen cracks. A dining car was placed between the sections as a subtle barrier between the two classes of travelers. By today's standards, the environment was drab. Chairs and mattresses were hard. Surfaces were metal or scarred wood. Colors were dark green and gray.

In their hurry to board the train and escape the chill of the wind, few passengers noticed the activity at the far end of the platform. At a gate seldom used at this hour of the night was a spectacular sight. Nudged against the end-rail bumper was a long car that caused those few who saw it to stop and stare. Its gleaming black paint was accented with polished brass hand rails, knobs, frames, and filigrees. The shades were drawn, but through the open door, one could see mahogany paneling, velvet drapes, plush 4

armchairs, and a well stocked bar. Porters with white serving coats were busying themselves with routine chores. And there was the distinct aroma of expensive cigars. Other cars in the station bore numbers on each end to distinguish them from their dull brothers.

But numbers were not needed for this beauty. On the center of each side was a small plaque bearing but a single word: ALDRICH.

The name of Nelson Aldrich, senator from Rhode Island, was well known even in New Jersey. By 1910, he was one of the most powerful men in Washington, D.C., and his private railway car often was seen at the New York and New Jersey rail terminals during frequent trips to Wall Street. Aldrich was far more than a senator. He was considered to be the political spokesman for big business. As an investment associate of J.P. Morgan, he had extensive holdings in banking, manufacturing, and public utilities.

His son-in-law was John D. Rockefeller, Jr. Sixty years later, his grandson, Nelson Aldrich Rockefeller, would become Vice-President of the United States.

When Aldrich arrived at the station, there was no doubt he was the commander of the private car. Wearing a long, fur-collared coat, a silk top hat, and carrying a silver-tipped walking stick, he strode briskly down the platform with his private secretary, Shelton, and a cluster of porters behind them hauling assorted trunks and cases.

No sooner had the Senator boarded his car when several more passengers arrived with similar collections of luggage. The last man appeared just moments before the final 'aaall aboarrrd.' He was carrying a shotgun case.

While Aldrich was easily recognized by most of the travelers who saw him stride through the station, the other faces were not familiar. These strangers had been instructed to arrive separately, to avoid reporters, and, should they meet inside the station, to pretend they did not know each other. After boarding the train, they had been told to use first names only so as not to reveal each other's identity. As a result of these precautions, not even the private-car porters and servants knew the names of these guests.

Back at the main gate, there was a double blast from the

engine's whistle. Suddenly, the gentle sensation of motion; the excitement of a journey begun. But, no sooner had the train cleared the platform when it shuttered to a stop. Then, to everyone's surprise, it reversed direction and began moving toward the station THE JOURNEY TO JEKYLL ISLAND

5

again. Had they forgotten something? Was there a problem with the engine?

A sudden lurch and the slam of couplers gave the answer. They had picked up another car at the end of the train. Possibly the mail car? In an instant the forward motion was resumed, and all thoughts returned to the trip ahead and to the minimal comforts of the accommodations.

And so, as the passengers drifted off to sleep that night to the rhythmic clicking of steel wheels against rail, little did they dream that, riding in the car at the end of their train, were seven men who represented an estimated one-fourth of the total wealth of the entire world.

This was the roster of the Aldrich car that night:

1. Nelson W. Aldrich, Republican 'whip' in the Senate, Chairman of the National Monetary Commission, business associate of J.P.

Morgan, father-in-law to John D. Rockefeller, Jr.;

2. Abraham Piatt Andrew, Assistant Secretary of the United States Treasury;

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