US Presidency
1916

It had permitted the country throughout the long period of its control to stagger from one financial crisis to another under the operation of a national banking law of its own framing which made stringency and panic certain and the control of the larger business operations of the country by the bankers of a few reserve centers inevitable; had made as if it meant to reform the law but had faint-heartedly failed in the attempt, because it could not bring itself to do the one thing necessary to make the reform genuine and effectual, namely, break up the control of small groups of bankers.