industry, infrastructure investment and science-driven
innovations; and
WHEREAS, A prudent course of action would be to restore the
provisions of the Glass-Steagall Act that immediately separate
investment and commercial banking; and
WHEREAS, As law for 66 years, the Glass-Steagall Act
prevented banking crises like the one experienced in 2008; and
WHEREAS, A return to national banking and direct credit to
industry and infrastructure was completed under President George
Washington and Secretary of the Treasury Alexander Hamilton,
President John Quincy Adams, President Abraham Lincoln and
President Franklin D. Roosevelt; and
WHEREAS, The early infrastructure of the United States, from
canals to rail systems, was built by national banks; and
WHEREAS, National banking policies orchestrated by Henry
Carey under President Abraham Lincoln created industrial
expansion, including the construction of modern rail and steel
programs; and
WHEREAS, The Reconstruction Finance Corporation (RFC), a
Federal credit program approved in 1932, was modeled on the War
Finance Corporation and on Alexander Hamilton's prototype, the
First National Bank; and
WHEREAS, The Commonwealth of Pennsylvania recovered from the
Great Depression during Franklin D. Roosevelt's administration
through significant RFC projects, including the construction of
the Keystone Corridor electrification project and the landmark
Pennsylvania Turnpike; and
WHEREAS, A new national bank would be chartered with no less
than $1 trillion of capital, not taxpayer funds, to finance new
projects; and
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