Wow. Excellent article Rich. Wilson had a lot more to atone for. Treaty of Versailles, income tax, self determination...

Another interesting read is American Lion: Andrew Jackson in the White House:

http://www.amazon.com/American-Lion-Andr...

One of the things that stood out in this book is that Jackson was determined and had many victories with reducing the size of the Federal Government, but hit a wall with the Central Bank.

It's a good read for those interested in this subject and lays out the difficulty in these actions and the human side of a president quite well.

It is beyond my comprehension so many are convinced oppositely from the Founding Fathers on the oversight of Congress mandated in the Constitution on the oversight and issuance of money, and its Constitutional definition. For the convenience of consumers and merchants, fiat currency has long been a blessing when it is backed by commodity or rareity, made honest by neither inflation or deflation because it is overseen by Congress. The Colonials used fiat money successfully because notes were distinctly designed and rare. From the beginning of our naton, money has been at the spear point of the fissure in human character eventually tearing the fabric of honesty and trust assunder making corrupt payments expected of public servants appointed to office or influencing the policies of government through the lobby. I had formerly believed only Constitutional money as defined US Constitution 1791, Article 1, Sections 8,9,10 was sound and honest money. Then in 1913 the fabric of human character began to unravel with the creation of the Federal Reserve Act which subborned the duty and responsibility of Congress over the issuance of currency.Sadly in accord with the warning of President Jefferson, our nation is now enslaved by greedy men as bemoaned by Wilson, who envision themselves, with the political ruling class the husbandman of tribute slaves, and the benefactor of those who would not produce. All hope is not lost, as grim as the reality of money cartels insinuated into central government may seem. For, with the advance of technology since WWII and Hitler's "enigma" encription technology has come a method of making money sound. That method is crypto currency. This crypto currency is fiat, and has only one property making it like precious commodities, that property is RAREITY. The new money is just what the Founders of our Republic ordered with the blessings of LIberty. As its greatest bonus, it cannot be overseen, managed, or taken in cartel by central banks to be ransomed of the political class from the barrel of a gun by way of enforcers such as the I R S. It is peer to peer money. It is of open record at the public level and every transaction it is eternally recorded, yet the transactors enjoy perfect anonymity. The only time the cartel, the ruling class, and the taxing authority can make any claimi is when traders exchange back to cartel money. Sadly, our nation of bleeting, willing slaughter animals, dyspeptically pay and pay, only seeing any economic advances through "minimum wages" and "union strikes". Sheeple are so conditioned to the maxim: "Only two things are sure son, death and taxes." that they would rather pay tribute than expend the effort to learn the fundamental economies of Liberty. "You can trust the devil you know." So, they continue in their foolery because it isn't poplar to ask questions about what they don't know in a pseudointellectual society of "thinkers" who demand "reason" for held beliefs. Who would want to seem unaccountable in a clique of debators demanding reasonable answers?

It wouldn't have happened if Wilson hadn't signed it into existence. Basically the start of the Progressive era and the long road to Serfdom.

Actually this quote has been mostly debunked. You can read the process of debunking here: http://en.wikiquote.org/wiki/Talk:Woodro...
Scroll down to the bottom of the article to get the more definitive conclusion. I wish he had said it. I wish he hadn't signed the bill.

An excellent Intro to the Fed for dummies was posted here in the Gulch. I do not remember who did so. It is about 18 minutes long.
http://www.youtube.com/watch?v=31khNqLph...