Thus the banks which receive a "toll" on all money borrowed by the Government of the United States are the same banks which planned the Federal Reserve Act of 1913. There is ample evidence demonstrating the present preeminence of the same banks which set up the Federal Reserve System in 1914. For instance, Warren Brookes writes on the editorial page of The Washington Post, June 6, 1983:

"Citicorp (National City Bank and First National Bank of New York, merged in 1955) just recorded an 18.6% return on equity, J.P. Morgan, 17%, Chemical Bank and Bankers Trust, nearly 16%, an exceptional rate of return."

These are the banks which bought the first issue of Federal Reserve Bank stock in 1914, and which owned the controlling interest in the Federal Reserve Bank of New York, which sets the interest rate and is the bank for all open market operations.

These banks also profit steadily from the otherwise inexplicable fluctuations in monetary growth and interest rates. Brookes further comments on "actual monetary growth rates alternately gyrating from 0 to 17% in successive six month periods for three recession-wracked years. The two measures of money growth most admired by Milton Friedman M2 and M3,