William H. Woodin

William Hartman Woodin ( born May 27, 1868 in Berwick, Columbia County, Pennsylvania, † May 3, 1934 in New York City ) was an American industrialist, Republican politicians and finance ministers of the United States.

Career

After schooling Woodin graduated from the School of Mines of Columbia University, but he dropped out before graduation. Subsequently, he was mainly active in the private sector and increased 1922 on the president of the American Car and Foundry Company, a company of wagons and railroad cars. Later he was chairman of the American Locomotive Company ( Alco ), the Montreal Locomotive Works and other Lokomotiv buildings. In addition, he was director of the Federal Reserve Bank of New York.

Treasury under Roosevelt

After the election of Franklin D. Roosevelt as President convened this Woodin, previously one of its main supporters, on 5 March 1933 as finance minister in his cabinet. During his tenure, he was involved in several decisions to combat the global economic crisis. Woodin had to win, which in particular succeeded by the introduction of state labels for the private banks in particular investor confidence. To this end, the State Federal Deposit Insurance Corporation has been introduced. Due to the global economic crisis pushed the U.S. during his term of office by the coverage of the U.S. dollar by gold, the gold standard so called from.

However, due to his health he had to resign already on 31 December 1933 by his ministerial position. Previously, he was already represented during much of his tenure of his Under-Secretary of State Dean Acheson. Successor as finance minister was on January 1, 1934, Henry Morgenthau, who has served as acting finance minister since November 17, 1933 after the original representative Acheson had previously resigned in protest against some financial decisions.

In addition to his failing health, however, another reason for his resignation was also a banking scandal, as the Banking Committee of the U.S. Senate had stated that his name appeared on a list of preferred customers of JPMorgan Chase & Co. and handed him a set of preference shares were.

Web links, and background literature

Biography and portrait on the website of the U.S. Treasury
Biographies of the members of the Cabinet of President Roosevelt
Turn Tiddily Tycoon. Article in TIME Magazine, January 26, 1931
Greatest Since. Article in TIME Magazine, November 13, 1933
Findings and telegram of condolence from President Roosevelt

Finance (United States)
Member of the Republican Party (United States)
Entrepreneurs (railway)
Entrepreneurs (United States)
Americans
Born in 1868
Died in 1934
Man

Columbia County (Pennsylvania) Henry Morgenthau, Jr. Share (finance) Alexander Hamilton Samuel Dexter George W. Campbell Alexander J. Dallas (statesman) Richard Rush Samuel D. Ingham Louis McLane William J. Duane Roger B. Taney Levi Woodbury Thomas Ewing Walter Forward George M. Bibb Robert J. Walker William M. Meredith Thomas Corwin James Guthrie (Kentucky) Howell Cobb Philip Francis Thomas John Adams Dix William P. Fessenden Hugh McCulloch George S. Boutwell William Adams Richardson Benjamin Bristow Lot M. Morrill John Sherman William Windom Charles J. Folger Walter Q. Gresham Daniel Manning Charles S. Fairchild Charles Foster (politician) John G. Carlisle Lyman J. Gage Franklin MacVeagh William Gibbs McAdoo Carter Glass David F. Houston Ogden L. Mills John Wesley Snyder (US Cabinet Secretary) George M. Humphrey Robert B. Anderson C. Douglas Dillon Henry H. Fowler Joseph W. Barr David M. Kennedy George P. Shultz G. William Miller Donald Regan Nicholas F. Brady John W. Snow Timothy Geithner

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