Before passage of this [Federal Reserve] Act, the New York Bankers could only dominate the reserves of New York. Now, we are able to dominate the bank reserves of the entire country.
![Before passage of this [Federal Reserve] Act, the New York Bankers could only dominate the reserves of New York. Now, we are able to dominate the bank reserves of the entire country.](http://cdn.quoteddaily.com/images/nelson-w-aldrich/before-passage-of-this-federal-reserve-act-the-new-york-bankers-could-only-dominate-the-reserves-of-new-york-now.jpg)
Before passage of this [Federal Reserve] Act, the New York Bankers could only dominate the reserves of New York. Now, we are able to dominate the bank reserves of the entire country.