President Woodrow Wilson,
who had signed the Federal Reserve Act, declared:
“I am a most unhappy man. I have unwittingly
ruined my country. A great industrial nation is controlled by its system of
credit. Our system of credit is concentrated. The growth of the nation,
therefore, and all our activities are in the hands of a few men. We have come
to be one of the worst ruled, one of the most completely controlled and
dominated governments in the civilized world. No longer a government by free
opinion, no longer a government by conviction and the vote of the majority, but
a government by the opinion and duress of a small group of dominant men.”[1]
The Vital Needs Theory - page 80
[1] Woodrow W. “The New Freedom”, Doubleday Page
Company, 1918, New York, under the chapter IX titled: BENEVOLENCE, OR JUSTICE?