Answer · confidence: partial
What do Congress's own records show about how the 1913 Fed law passed?
Research question: What do the Congressional Record, committee hearings, and House and Senate roll-call votes show about how the Federal Reserve Act of 1913 was debated and passed?
The records show that Carter Glass introduced the bill in the House as H.R. 7837 on August 29, 1913 1, and the House passed it 287 to 85 on September 18, 1913 3. The Senate passed its bill 54 to 34 on December 18, 1913, months after the House vote 5, and the bill was carried largely by nearly straight party-line votes 613. A joint conference committee reconciled the two versions, and the House approved the conference report 298 to 60 while the Senate approved it 43 to 25 on December 23, 1913 722, and President Wilson signed it that day 1012. The supplied facts do not include Congressional Record text or the substance of committee testimony, though they note that Senate hearings ran from September into October 1913 17 and produced more printed pages than the House hearings 20. The newest fact is dated January 2, 1914 21, so the most recent evidence is more than a century old as of October 2026.
Checked 2026-10-21. Only documented and supported facts are used.
Dig deeper on this questionSources
[1] supported
The bill was introduced in the House as H.R. 7837 by Carter Glass, a Democrat from Virginia, on August 29, 1913.
"Introduced in the House as H.R. 7837 by Carter Glass ( D - VA ) on August 29, 1913"Federal Reserve Act
[2] supported
The House passed the Federal Reserve Act 298 to 60 on December 22, 1913.
"The House voted on December 22, 1913, with 298 voting yes to 60 voting no."Federal Reserve
[3] supported
The House passed the bill by a vote of 287 to 85, with 5 members present, on September 18, 1913.
"Passed the House on September 18, 1913 ( 287–85, 5 Present )"Federal Reserve Act
[4] documented
The Democratic House caucus approved the Glass-Owen currency bill by a vote of 163 to 9.
"as the caucus, after approving the measure by a vote of 163 to 9, almost unanimously adopted a resolution making it a party measure."Image 1 of The Richmond palladium and sun-telegram (Richmond, Ind.), August 29, 1913
[5] supported
The Senate passed the bill 54 to 34 on December 18, 1913, months after the House vote.
"Passed the Senate on December 18, 1913 ( 54–34 )"Federal Reserve Act
[6] supported
The bill passed Congress largely along party lines, with most Democrats voting yea and most Republicans voting nay.
"on a mostly partisan basis, with most Democrats voting "yea" and most Republicans voting "nay"."Federal Reserve
[7] supported
A joint conference committee reconciled the two versions and reported on December 22, 1913. The House then approved the conference report 298 to 60 and the Senate approved it 43 to 25 on December 23, 1913.
"Reported by the joint conference committee on December 22, 1913; agreed to by the House on December 22, 1913 ( 298–60 ) and by the Senate on December 23, 1913 ( 43–25 )"Federal Reserve Act
[8] supported
Chairman Carter Glass predicted the House would pass the bill within a few days after it was reported back from committee.
"which Mr. Glass predicted would pass it within a few days."Image 1 of The Richmond palladium and sun-telegram (Richmond, Ind.), August 29, 1913
[9] supported
The bill was to be reintroduced in the House by Chairman Glass and referred immediately to the banking and currency committee.
"The measure was to be reintroduced in the house today by Chairman Glass"Image 1 of The Richmond palladium and sun-telegram (Richmond, Ind.), August 29, 1913
[10] supported
President Woodrow Wilson signed the bill into law on the same day Congress passed it.
"President Woodrow Wilson signed the bill later that day."Federal Reserve
[11] documented
The bill as then drafted required each member bank to subscribe 20 percent of its capital, with 10 percent of that paid in.
"Each bank lis required to subscribe 20 per cent. of its capital, 10 per cent, of which Is to be paid in."Image 1 of The Richmond palladium and sun-telegram (Richmond, Ind.), August 29, 1913
[12] supported
President Woodrow Wilson signed the Federal Reserve Act into law on December 23, 1913.
"On December 23, 1913, President Woodrow Wilson signed into law the Federal Reserve Act."Federal Reserve: History, Purposes and Functions - An Analysis (1997)
[13] supported
The Federal Reserve Act took many months to pass and was carried largely by nearly straight party-line votes.
"It took many months and nearly straight party-line voting, but on December 23, 1913, the Senate passed and President Woodrow Wilson signed the Federal Reserve Act."U.S. Senate: The Senate Passes the Federal Reserve Act
[14] supported
The political and legislative struggle to create the Federal Reserve System was long and often bitter.
"The political and legislative struggle to create the Federal Reserve System was long and often bitter"Federal Reserve: History, Purposes and Functions - An Analysis (1997)
[15] supported
The House passed its bill first, in September 1913, and only after that did the Senate Banking Committee begin hearings.
"The House took up the issue first and passed a bill in September, after which the Senate Banking Committee began holding hearings."U.S. Senate: The Senate Passes the Federal Reserve Act
[16] supported
Glass had an unwavering commitment to the real bills doctrine and to the structure of the Federal Reserve System, which shaped his positions in congressional debates.
"leading congressional framer of the Federal Reserve Act, Glass had an unwavering commitment to the real bills doctrine"The Political Origins of Section 13(3) of the Federal Reserve Act (2018)
[17] supported
The Senate committee hearings on the bill ran from September into October 1913.
"The hearings stretched through September and well up into October."PDF The Federal reserve act of 1913; history and digest - Archive.org
[18] supported
The final 1913 law was the product of a carefully crafted but somewhat tenuous political compromise between national and regional powers.
"this final product in 1913 was the result of a carefully crafted and somewhat tenuous political compromise between national and regional powers."Federal Reserve: History, Purposes and Functions - An Analysis (1997)
[19] supported
Senate Democrats made the bill a party question after all Senate Republicans backed a substitute, and the Democratic Conference's binding caucus rule meant members who backed a bill by a two-thirds caucus vote had to support it and not offer floor amendments.
"When all of the Senate Republicans voted for a substitute measure, Senate Democrats opted to make the banking and currency bill a “party question.” At that time, the Democratic Conference had a “binding caucus” rule, by which whenever two-thirds of the conference voted in favor of a bill, all of its members agreed to support it and not to offer amendments on the floor."U.S. Senate: The Senate Passes the Federal Reserve Act
[20] supported
The Senate hearings produced far more printed pages than the House committee hearings, and were more complete.
"The printed records of these hearings covered many times the number of pages as did the hearings before the House committee."PDF The Federal reserve act of 1913; history and digest - Archive.org
[21] documented
In January 1914, a Kansas newspaper reported that the Glass-Owen Currency bill had recently been passed, and that big cities were competing to become the location of one of the regional banks.
"If the Glass-Owen Currency bill, recently passed is so bad wby are big cities in such a squabble to become the location of one of regional banks?"Image 4 of The Liberal democrat (Liberal, Kan.), January 2, 1914
[22] supported
The Senate adopted the conference report 43 to 25 on December 23, 1913, with every Democrat present voting yes and all but four Republicans voting no.
"On December 23, 1913, the Senate adopted the conference report by a vote of 43 to 25, with every Democrat present voting for the measure and all but four Republicans voting against it."U.S. Senate: The Senate Passes the Federal Reserve Act
[23] supported
In August 1913 the American Bankers' Association met hurriedly in Chicago and chose a committee of bankers to lobby Congress against parts of the bill.
"In August a hurried call of the American Bankers' Association was convened in Chicago and a committee of bankers elected to wait upon Congress."PDF The Federal reserve act of 1913; history and digest - Archive.org