Excerpt from The Federal Reserve: A Study of the Banking System of the United States IT IS of great importance that the American people should understand fully not only the text of the Federal Reserve Act, but, as Well, its history during the process of enactment, and I am sure that this book Will be read with the deepest pleasure by all Who are interested in the subject of banking. The Federal Reserve Act has already been, and Will be in the future, of the greatest advantage, not alone to the bankers, but to all our people Who are the customers of the banks, and who are engaged in agriculture, commerce, and industrial pursuits. The author points out that so far as expressions of opinion are to be found in the book, they are expressions merely of his personal views, but such expressions are surely entitled to have great Weight. I feel confident that this book, both as a history and a searching analysis of the Act, Will be an invaluable help to every student of banking and finance. Charles S. Hamlin. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.