In a democracy the responsibility for the Government's economic policies, which so affect the economy, normally rests with the elected representative of the people: in our case, with the President and the Congress. If these two follow economic policies inimical… — Wright Patman Copy Share Image
The Federal Reserve is the overlord of the money supply. If these two are not steering in the same direction, they can either neutralize each other or have the economy lurching in all directions. This is not a rational system… — Wright Patman Copy Share Image
There are many reasons why the general public doesn't really understand our monetary system. In the first place, money is something that people tend… — Wright Patman Copy Share Image
Also, the Federal Advisory Committee should be enlarged and reorganized. Members should be chosen for the broadest possible representation of the public interest, their… — Wright Patman Copy Share Image
The Open Market Committee, as presently established, is plainly not in the public interest. This committee must be operated by purely public servants, representatives… — Wright Patman Copy Share Image
I have never yet had anyone who could, through the use of logic and reason, justify the Federal Government borrowing the use of its… — Wright Patman Copy Share Image
There have been times when the Federal Reserve has restricted the money supply and raised interest rates to gain an end, which had much… — Wright Patman Copy Share Image
Bad as "independence" is, the main fault of the Federal Reserve System - an admirable system if conducted in the public interest - is… — Wright Patman Copy Share Image
In a democracy the responsibility for the Government's economic policies, which so affect the economy, normally rests with the elected representative of the people:… — Wright Patman Copy Share Image
The dollar represents a one dollar debt to the Federal Reserve System. The Federal Reserve Banks create money out of thin air to buy… — Wright Patman Copy Share Image
The Federal Reserve is the overlord of the money supply. If these two are not steering in the same direction, they can either neutralize… — Wright Patman Copy Share Image
In the United States we have, in effect, two governments ... We have the duly constituted Government ... Then we have an independent, uncontrolled… — Wright Patman Copy Share Image
If the Federal Reserve pursues a policy which Congress or the President believes not to be in the public interest, there is nothing Congress… — Wright Patman Copy Share Image
It may seem strange, but Congress has never developed a set of goals for guiding Federal Reserve policy. In founding the System, Congress spoke… — Wright Patman Copy Share Image
