FACTOID # 13: The United States spends more money on its military than the next 12 nations combined.
 
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Encyclopedia > Benjamin Strong Jr.

Benjamin Strong Jr. (1872 - October 1928) served as Governor of the Federal Reserve Bank of New York for 14 years until his death. Strong exerted great influence over the policy and actions of the entire Federal Reserve System. 1872 (MDCCCLXXII) was a leap year starting on Monday (see link for calendar) of the Gregorian calendar or a leap year starting on Wednesday of the 12-day-slower Julian calendar. ... Year 1928 (MCMXXVIII) was a leap year starting on Sunday (link will display full calendar). ... The Federal Reserve Bank of New York, located at 33 Liberty Street in Manhattan. ... The Federal Reserve System is headquartered in the Eccles Building on Constitution Avenue in Washington, DC. The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central banking system of the United States. ...


His policy of maintaining price levels during the 1920s through the open market purchase of securities, and his willingness to maintain the liquidity of banks during panics, have been praised by monetarists and harshly criticized by Austrians.[citation needed] The 1920s was a decade sometimes referred to as the Jazz Age or the Roaring Twenties, usually applied to America. ... Monetarism is a set of views concerning the determination of national income and monetary economics. ...


Strong was JP Morgan's emmissary as one of the selected members of the secret Jekyll Island (Georgia) expedition which visited Jekyll Island Hunt Club retreat in 1910 where the original Aldrich Plan was drafted. The Plan, with few changes, later became the Federal Reserve System which was hurriedly enacted into law by Congress on December 23, 1913.


External Links

  • Mr. Strong's Biography at the Federal Reserve Bank of New York]
Preceded by
(none)
President of the Federal Reserve Bank of New York
1914 - 1928
Succeeded by
George L. Harrison


 
 

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