Richmond Fed History

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February 11, 2014

Statement Comparing Richmond With Other Prospective Reserve Bank Cities

Statement Comparing Richmond With Other Prospective Reserve Bank Cities

Comparison Statement

The Federal Reserve Act was signed by President Woodrow Wilson on December 23, 1913, but the location of the Federal Reserve Banks would not be settled until the spring of 1914. In making the case for Richmond, the city accountant, George Crenshaw, submitted a report comparing the population and land values of Richmond with other cities in the southeast.

For more information regarding Richmond’s winning bid for the Fifth District, please see this Region Focus article from the Winter 2007 issue.

Download the statement


Topics: Fifth District

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Bob McTeer talks about leading the Baltimore Branch and becoming president of the Dallas Fed.