Frank A. Vanderlip

Frank A. Vanderlip (1864 – June 30, 1937) was an American banker. From 1897-1901, Vanderlip was the Assistant Secretary of Treasury for President of the United States William McKinley's second term. In that office he negotiated with National City Bank a $200 million loan to the government to finance the Spanish American War. Thereafter he was vice president and then president of National City Bank of New York (1909–19). In November, 1910, he was a member of the Jekyll Island group, a group of bankers that are believed to have formulated the outline to a plan that influenced the drafting of the eventual Federal Reserve Act.

In the final month and a half before the Act's enactment on December 23, 1913, Vanderlip's alternative plan for a Federal Reserve Act nearly derailed the one that President Wilson and the Democratic leadership were promoting.^[1]^[2]

References

^ [1] New York Times article, November 7, 1913
^ [2] Historical Beginnings... The Federal Reserve] by Roger T. Johnson, Federal Reserve Bank of Boston, 1999, pp. 32-33.

External links

Walter Hines Page, Arthur Wilson Page (1902). The World's Work .... Doubleday, Page & Company. http://books.google.com/books?id=DI038d4SBFEC&printsec=titlepage#PPA2185,M1. , 1902 magazine article in The World's Work.

Business positions
Preceded by James Stillman	Chief of National City Bank 1918–1919 (President with acting duties as Chairman)	Succeeded by James A. Stillman

Persondata
Name	Vanderlip, Frank
Alternative names
Short description
Date of birth	1864
Place of birth
Date of death	June 30, 1937
Place of death