Banking Act of 1935

President Franklin D. Roosevelt jokes during the signing of the Banking Act of 1935, which restructured the Federal Reserve System to centralize monetary policy in Washington, D.C. From left to right are an unidentified man; Democratic senator Carter Glass, of Virginia, who had spoken against the bill; James F. T. O'Conner, Comptroller of the Currency; Democratic senator Duncan U. Fletcher, of Florida; Secretary of the Treasury Henry Morgenthau; Jesse Jones, the chairman of the Reconstruction Finance Corporation (RFC); Alabama Democrat Henry Steagall, the chairman of the House Banking Committee; Marriner Eccles, the chairman of the Federal Reserve Board; and an unidentified man.