Congressional Record, January 8, 1934 (US en faillite après le crack de 29)

Congressman McFadden:

"I hope that is the case, but I may say to the gentleman that during the sessions of this Economic Conference in London there is another meeting taking place in London. We were advised by reports from London last Sunday of the arrival of George L.Harrison, Governor of the Federal Reserve Bank of New York, and we were advised that accompanying him was Mr. Crane, the Deputy Governor, and James P. Warburg, of the Kuhn-Loeb banking family, of New York and Hamburg, Germany, and also Mr. O. M. W. Sprague, recently in the pay of Great Britain as chief economic and financial adviser of Mr. Norman, Governor of the Bank Of England, and now supposed to represent our Treasury. These men landed in England and rushed to the Bank of England for a private conference, taking their luggage with them, before even going to their hotel. We know this conference has been taking place for the past 3 days behind closed doors in the Bank of England with these gentlemen meeting with heads of the Bank of England and the Bank for International Settlements, of Basel, Switzerland, and the head of the Bank France, Mr. Maret. They are discussing war debts; they are discussing stabilization of exchanges and the Federal Reserve System,I may say to the Members of the House.

The Federal Reserve System, headed by George L. Harrison, is our premier, who is dealing with debts behind the closed doors of the Bank of England; and the United States Treasury is there, represented by O. M. W. Sprague, who until the last 10 days was the representative of the Bank of England, and by Mr. James P. Warburg, who is the son of the principal author of the Federal Reserve Act. Many things are being settled behind the closed doors of the Bank of England by this group. No doubt this group were pleased to hear that yesterday the Congress passed amendments to the Federal Reserve Act and that the President signed the bill which turns over to the Federal Reserve System the complete total financial resources of money and credit in the United States. Apparently the domination and control of the international banking group is being trengthened...