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A secret gathering at a secluded island off the coast of Georgia in 1910 laid the foundations for the Federal Reserve System.Like many Americans, these men were concerned with financial panics, which had disrupted economic activity in the United States periodically during the 19th century. The meeting and it's purpose were closely guarded secrets, and the participants did not admit that the meeting occurred until the 1930's. This group of 6 men called themselves the "First Name Club".