Aside from the fact that they didn’t then and don’t now understand the nonlinear behavior of the system they created, the bigger problem is that you cannot have such a system without a way to collateralize it.
That is done via the Federal Income Tax. It’s no coincidence that the two things were put in place in the same year.
IOW the Fed requires a captive population to pay the bonds it issues to collateralize the currency. That means we are simply tax slaves, here to bolster the fiat dollar.
Odd how no one ever seems to point that out.
+1
From 1865 to 1913 there was no slavery in the US. Just 50 years. That’s it.