1908
With the widespread financial panic over, J. P. Morgan was hailed as a hero by the then President of Princeton University, Woodrow Wilson, who even crassly or arrogantly stated,"All this trouble could be averted if we appointed a committee of six or seven public spirited men like J. P. Morgan, to handle the affairs of our country."
President Theodore Roosevelt had also signed into law, following the financial panic, a bill creating the, "National Monetary Commission."
This commission was supposed to study the banking problem and make recommendations to Congress. Naturally, the commission was packed with J. P. Morgan's friends and cronies.
The chairman was Senator Nelson Aldrich from Rhode Island, and he represented the Newport Rhode Island homes of America's richest banking families. His daughter married John D. Rockefeller Jr., and together they had five sons (including Nelson who would become Vice President in 1974 and David who would become Head of the Council on Foreign Relations).Following the setting up of this National Monetary Commission, Senator Aldrich immediately embarked on a 2 year fact finding tour of Europe, where he consulted at length with the private central bankers in England, France, and Germany, or rather Rothschild, Rothschild, and Rothschild.
The total cost of this 2 year trip to the American taxpayer? $300,000. Yes, three hundred thousand dollars, that is not a misprint!
