The United States Federal Reserve Act
Article I:
This act hereby establishes the United States Federal Reserve System.
Article II:
The purpose of the Federal Reserve is to ensure economic stability through loans to banks at an interest rate designated by the Federal Reserve Board.
Section I:
The Federal Reserve Board will consist of the Secretary of the Treasury, who shall act as the Chairman of the Board, 4 representatives from the largest banks based in the United States, and 5 economic experts not in the employ of a bank based within the United States.
Section II:
The Federal Reserve Board must hold at least five meetings a year, where they will determine the Federal Reserve’s interest rate, based on what is best for the economy, and general policy of the Federal Reserve.
Article III:
The Federal Reserve System is hereby granted the right to order the printing of paper money.
Section I:
Money printed on the orders of the Federal Reserve will be designated as a Federal Reserve Note.
Section II:
The Federal Reserve Note will be legal tender for all debts public and private.
Section III:
The Federal Reserve Note can be removed from the Gold Standard upon a 7 to 3, or more, vote in the Federal Reserve Board.
Article IV:
The Federal Reserve shall have 5 semi-autonomous Regional Offices;
The Western Office:
California, Oregon, Washington, Hawaii, Alaska
The Mid-Western Office:
Idaho, Nevada, Utah, Arizona, New Mexico, Montana, Wyoming, Colorado, N. Dakota, S. Dakota, Nebraska, Kansas, Oklahoma
The Southern Office:
Texas, Missouri, Arkansas, Louisiana, Alabama, Mississippi, Georgia, Florida, N. Carolina, S. Carolina, Tennessee, Kentucky, Virginia, Maryland, Delaware
The Mid-Eastern Office:
Iowa, Minnesota, Wisconsin, Michigan, Illinois, Indiana, Ohio
The Northern Office:
W. Virginia, Pennsylvania, New Jersey, New York, Connecticut, Rhode Island, Massachusetts, Vermont, New Hampshire, Maine
Section I:
The Regional Offices will be responsible for the day-to-day of approving and overseeing loans based on Federal Reserve Policy.
Section II:
The Regional Offices have the right to order the printing of Federal Reserve Notes under Article II of the Federal Reserve Act.
Section III:
The Regional Offices’ accounts and operation will be inspected once a year by Federal Reserve Agents, or more often on the orders of the Federal Reserve Board.