Collectively, they encapsulated their concerns in the plan they wrote on Jekyll Island and in the reports of the National Monetary Commission. The Jekyll Island participants’ views on this issue are well known, since before and after their conclave several spoke publicly and others published extensively on the topic.
The Need for ReformĪt the time, the men who met on Jekyll Island believed the banking system suffered from serious problems. But the plan written on Jekyll Island laid a foundation for what would eventually be the Federal Reserve System. The meeting and its purpose were closely guarded secrets, and participants did not admit that the meeting occurred until the 1930s. Piatt Andrew, Henry Davison, Arthur Shelton, Frank Vanderlip and Paul Warburg – met at the Jekyll Island Club, off the coast of Georgia, to write a plan to reform the nation’s banking system. In November 1910, six men – Nelson Aldrich, A.
