In a letter to his junior colleague in the Senate from the Commonwealth of Massachusetts, Republican (proto-fascist/socialist) Henry Cabot Lodge expresses his reservations to Republican John W. Weeks about the upcoming vote on the Federal Reserve Act, which will re-establish a central bank:

       Throughout all my public life I have supported all measures designed to take the federal [g]overnment out of the banking business. … this bill puts the federal [g]overnment into the banking business as never before…and makes…all notes [g]overnment notes when they should be bank notes.  The powers vested in the Federal Reserve Board seem to me highly dangerous especially where there is political control of the board.  The bill as it stands seems to me to open the way to a vast inflation of the currency. … I do not like to think that any law can be passed which will make it possible to submerge the gold standard in a flood of irredeemable paper currency.

       [restored 6/5/2022]