MARCH 16, 1938 – HOUSE RESOLUTION (HR) 7230 INTRODUCED

1938 – HOUSE RESOLUTION (HR) 7230 INTRODUCED
John William Wright Patman, Democratic Congressman 1938-1978 and Chairman, Committee on Banking & Currency, introduces a bill to nationalize the Federal Reserve System.
"The Federal Reserve is a total moneymaking machine.  It can issue money or checks, and it never has a problem of making its checks good, because it can obtain the $5 or $10 bills necessary to cover its check simply by asking the Treasury Dept's Bureau of Engraving to print them.” 1964