The Aldrich–Vreeland Act, enacted on May 30, 1908, was a United States law passed in response to the Panic of 1907, designed to address the perceived inadequacies of the U.S. banking system revealed during financial crises in 1873, 1893, and 1907. The act established the National Monetary Commission, chaired by Senator Nelson W. Aldrich (R-RI), to investigate monetary
