certificates and currency created by clearing-house associations. The
aversion of the people to the centralization of the banking business in
the hands of a few of the great money powers made the establishment of a
central bank out of the question.
The bills which were discussed at any length were the Fowler Bill, the
Vreeland Bill, and the Aldrich Bill. The first was discarded, although
it had merits, and the two branches of Congress were unable to agree
upon either of the others. The result was a compromise measure which
became the Aldrich-Vreeland Act.
The important provisions of this act are as follows: (1) Ten or more