Question: Who wrote the preamble to the constitution of the country that owns the banks of the body responsible for US monetary policy?

full_context: Document 1: Federal Reserve: The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System.
Document 2: Federal Reserve: The Federal Reserve System is composed of several layers. It is governed by the presidentially appointed Board of Governors or Federal Reserve Board (FRB). Twelve regional Federal Reserve Banks, located in cities throughout the nation, oversee the privately owned U.S. member banks. Nationally chartered commercial banks are required to hold stock in the Federal Reserve Bank of their region, which entitles them to elect some of their board members. The Federal Open Market Committee (FOMC) sets monetary policy; it consists of all seven members of the Board of Governors and the twelve regional bank presidents, though only five bank presidents vote at any given time: the president of the New York Fed and four others who rotate through one - year terms. There are also various advisory councils. Thus, the Federal Reserve System has both public and private components. The structure is considered unique among central banks. It is also unusual in that the United States Department of the Treasury, an entity outside of the central bank, prints the currency used.
Document 3: Monetary policy of the United States: Though the Federal Reserve authorizes and distributes the currency printed by the Treasury (the primary component of the narrow monetary base), the broad money supply is primarily created by commercial banks through the money multiplier mechanism. One textbook summarizes the process as follows:
Document 4: United States dollar: The monetary base consists of coins and Federal Reserve Notes in circulation outside the Federal Reserve Banks and the U.S. Treasury, plus deposits held by depository institutions at Federal Reserve Banks. The adjusted monetary base has increased from approximately 400 billion dollars in 1994, to 800 billion in 2005, and over 3000 billion in 2013. The amount of cash in circulation is increased (or decreased) by the actions of the Federal Reserve System. Eight times a year, the 12-person Federal Open Market Committee meet to determine U.S. monetary policy. Every business day, the Federal Reserve System engages in Open market operations to carry out that monetary policy. If the Federal Reserve desires to increase the money supply, it will buy securities (such as U.S. Treasury Bonds) anonymously from banks in exchange for dollars. Conversely, it will sell securities to the banks in exchange for dollars, to take dollars out of circulation.
Document 5: United States Declaration of Independence: As was the custom, Congress appointed a committee to draft a preamble to explain the purpose of the resolution. John Adams wrote the preamble, which stated that because King George had rejected reconciliation and was hiring foreign mercenaries to use against the colonies, ``it is necessary that the exercise of every kind of authority under the said crown should be totally suppressed ''. Adams's preamble was meant to encourage the overthrow of the governments of Pennsylvania and Maryland, which were still under proprietary governance. Congress passed the preamble on May 15 after several days of debate, but four of the middle colonies voted against it, and the Maryland delegation walked out in protest. Adams regarded his May 15 preamble effectively as an American declaration of independence, although a formal declaration would still have to be made.
Document 6: Preamble to the United States Constitution: The Preamble to the United States Constitution is a brief introductory statement of the Constitution's fundamental purposes and guiding principles. It states in general terms, and courts have referred to it as reliable evidence of the Founding Fathers' intentions regarding the Constitution's meaning and what they hoped the Constitution would achieve.
Document 7: Preamble to the United States Constitution: The Preamble was placed in the Constitution during the last days of the Constitutional Convention by the Committee on Style, which wrote its final draft, with Gouverneur Morris leading the effort. It was not proposed or discussed on the floor of the convention beforehand. The initial wording of the preamble did not refer to the people of the United States, rather, it referred to people of the various states, which was the norm. In earlier documents, including the 1778 Treaty of Alliance with France, the Articles of Confederation, and the 1783 Treaty of Paris recognizing American independence, the word ``people ''was not used, and the phrase the United States was followed immediately by a listing of the states, from north to south. The change was made out of necessity, as the Constitution provided that whenever the popularly elected ratifying conventions of nine states gave their approval, it would go into effect for those nine, irrespective of whether any of the remaining states ratified.
Document 8: Federal Reserve Act: The Federal Reserve Act (ch. 6, 38 Stat. 251, enacted December 23, 1913, 12 U.S.C. ch. 3) is an Act of Congress that created and established the Federal Reserve System, the central banking system of the United States, and which created the authority to issue Federal Reserve Notes (now commonly known as the U.S. Dollar) and Federal Reserve Bank Notes as legal tender. The Act was signed into law by President Woodrow Wilson.
Document 9: Federal Reserve: The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System.
Document 10: United States dollar: The value of the U.S. dollar declined significantly during wartime, especially during the American Civil War, World War I, and World War II. The Federal Reserve, which was established in 1913, was designed to furnish an "elastic" currency subject to "substantial changes of quantity over short periods", which differed significantly from previous forms of high-powered money such as gold, national bank notes, and silver coins. Over the very long run, the prior gold standard kept prices stable—for instance, the price level and the value of the U.S. dollar in 1914 was not very different from the price level in the 1880s. The Federal Reserve initially succeeded in maintaining the value of the U.S. dollar and price stability, reversing the inflation caused by the First World War and stabilizing the value of the dollar during the 1920s, before presiding over a 30% deflation in U.S. prices in the 1930s.
Document 11: Monetary policy of the United States: Monetary policy concerns the actions of a central bank or other regulatory authorities that determine the size and rate of growth of the money supply. For example, in the United States, the Federal Reserve is in charge of monetary policy, and implements it primarily by performing operations that influence short - term interest rates.
Document 12: Constitution of the United States: The preamble to the Constitution serves as an introductory statement of the document's fundamental purposes and guiding principles. It neither assigns powers to the federal government, nor does it place specific limitations on government action. Rather, it sets out the origin, scope and purpose of the Constitution. Its origin and authority is in ``We, the people of the United States ''. This echoes the Declaration of Independence.`` One people'' dissolved their connection with another, and assumed among the powers of the earth, a sovereign nation - state. The scope of the Constitution is twofold. First, ``to form a more perfect Union ''than had previously existed in the`` perpetual Union'' of the Articles of Confederation. Second, to ``secure the blessings of liberty '', which were to be enjoyed by not only the first generation, but for all who came after,`` our posterity''.
Document 13: United States Bill of Rights: The convention took place from May 14 to September 17, 1787, in Philadelphia, Pennsylvania. Although the Convention was purportedly intended only to revise the Articles, the intention of many of its proponents, chief among them James Madison of Virginia and Alexander Hamilton of New York, was to create a new government rather than fix the existing one. The convention convened in the Pennsylvania State House, and George Washington of Virginia was unanimously elected as president of the convention. The 55 delegates who drafted the Constitution are among the men known as the Founding Fathers of the new nation. Thomas Jefferson, who was Minister to France during the convention, characterized the delegates as an assembly of ``demi - gods. ''Rhode Island refused to send delegates to the convention.
Document 14: Federal Reserve Act: The Federal Reserve Act (ch. 6, 38 Stat. 251, enacted December 23, 1913, 12 U.S.C. § § 221 to 522) is an Act of Congress that created and established the Federal Reserve System (the central banking system of the United States), and which created the authority to issue Federal Reserve Notes (commonly known as the US Dollar) as legal tender. The Act was signed into law by President Woodrow Wilson.
Document 15: Federal Reserve Bank: The twelve regional Federal Reserve Banks were established as the operating arms of the nation's central banking system. They are organized much like private corporations -- possibly leading to some confusion about ownership.
ground_truth: the Committee on Style
sub_queries: who is responsible for monetary policy in the us Answer: the Federal Reserve
who are the Federal Reserve banks owned by Answer: United States of America
who wrote the preamble to the constitution of United States of America Answer: the Committee on Style