The US, for its part, recognized that it needed a central bank analogous to the Bank of England. American financiers were persuaded that New York needed to develop its own commercial trading system to handle bills of exchange in the same way as the London market and arrange their monetization (or “acceptance”).
而对英国的对手，1907年的金融恐慌向他们展示了掌握金融力量是多么必要。如美国就意识到需要成立与英格兰银行相似的中央银行。现实告诉美国金融家纽约需要建设自身的商业交易系统，像伦敦市场那样处理汇票并实现汇票的货币化（也叫“承兑业务”）。