From Our Collections
This is my piece, you fellows can have that side
Print and Picture Collection
- Richards, Frederick T. (1864-1921) - Artist
Country: United States
On December 23, 1913, just weeks before this cartoon was published, Congress enacted the Federal Reserve Act (also known as the Glass-Owen Currency Act). This act called for the creation of a central banking system in the United States and created a number of private regional Federal Reserve banks with a publicly appointed Federal Reserve Board to oversee them.  Critics of the legislation voiced concern over the power the new system put into the hands of Wall Street's private banking interests. The cartoonist shows Wall Street offering the major U.S. cities a very meager share of the banking power.
 Federal Reserve Board. (2003). The Structure of the Federal Reserve System. Retrieved from:<http://www.federalreserve.gov/pubs/frseries/frseri.htm >