1907 Banker's Panic - Free Market or Government Intervention?

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There is another thread on the 1907 money panic:-

Panic of 1907 and other pre central bank crises

Acasemically: If I’m understanding correctly the money stock increase by banks, in the US, pre-FRS era, bk mgmts would have been subject to prosecution under fraud statutes. (They inferred there was gold or silver to back outstanding obligations. - Even gov’t bonds were not gold or silver, which are the only constitutional forms of money.) Practically: And let’s get it straight, the FRS is a bunch of rationalizing theives stealing your production by counterfeiting “money”, and not bothering …

The free market did fail, but that does not justify a central bank; the same people who engineered the panic also clamoured for a central bank.