In periods without a central bank, the US Treasury was responsible for managing the money supply. It's not quite as radical of a proposal as it might seem, nor as radical as we might prefer.

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econ

The American tradition of abolishing central banks

Great Article!
I'm however susceptible for 'the end of Fed' in this age. With so much going on in for dollar in modern world, US may need agencies to look after its currency. Talking of other varied global collaborations, I don't think, they are posing any challenge to dollar as of now. They could have been a little more successful if China hasn't been seeing a decline in their economy.