The newly-retitled Act

The public, suspicious of Senator Aldrich’s banking connections,
ultimately reject the Jekyll Island cabal’s “Aldrich Plan.”
The cabal does not give up, however.
They simply revise and rename their plan,
giving it a new public face,
that of Representative Carter Glass and Senator Robert Owen.
In the end, the money trust that was behind the Panic of 1907
uses the public’s own outrage against them

to complete their consolidation of control over the banking system.
The newly-retitled Federal Reserve Act is signed into law
on December 23, 1913 and the Fed begins operations the next year.

Метки: newly, retitled