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Theodore Gilman (banker)
Theodore Gilman (January 2, 1841 – August 9, 1930) was a New York banker, Progressive reformer, and early advocate for stabilizing the U.S. financial system with an idea that was a precursor to the Federal Reserve System. He spent most of his life in New York City as head of Gilman, Son and Company bank. His campaign in the 1890s and early 1900s for a national network of bank clearing houses that could expand and contract the supply of money led to bills in Congress that the ''New York Times'' called "the first bill[s] ever introduced for the formation of a higher order of banks." In 1913 his plan was "embodied in the Federal Reserve Act." Early life Theodore Gilman was born on January 2, 1841, in Alton, Illinois. His father, Winthrop Sargent Gilman, was a merchant and businessman. His mother, Abia Swift Lippincott Gilman, was the daughter of an abolitionist Presbyterian minister, Thomas Lippincott. When Theodore was five years old, Abia and the children moved to New York Ci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alton, Illinois
Alton ( ) is a city on the Mississippi River in Madison County, Illinois, United States, about north of St. Louis, Missouri. The population was 25,676 at the 2020 United States census, 2020 census. It is a part of the River Bend (Illinois), River Bend area in the Metro-East region of the Greater St. Louis metropolitan area. It is well known for its limestone bluffs along the river north of the city. It's the former location of an historical state penitentiary, and played a significant role preceding and during the American Civil War. It was the site of the last Abraham Lincoln and Stephen Douglas debate in October 1858. The former state penitentiary in Alton was used during the Civil War to hold up to 12,000 Confederate prisoners of war. History Although Alton once was growing faster than the nearby city of St. Louis, a coalition of St. Louis businessmen planned to build a competing town to stop Alton's expansion and bring business to St. Louis. The resulting town was Grafton, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Panic Of 1907
The Panic of 1907, also known as the 1907 Bankers' Panic or Knickerbocker Crisis, was a financial crisis that took place in the United States over a three-week period starting in mid-October, when the New York Stock Exchange suddenly fell almost 50% from its peak the previous year. The panic occurred during a time of economic recession, and there were numerous bank run, runs affecting banks and trust company, trust companies. The 1907 panic eventually spread throughout the nation when many state and local banks and businesses entered bankruptcy. The primary causes of the run included a retraction of market liquidity by a number of New York City banks and a loss of confidence among depositors, exacerbated by unregulated side bets at bucket shop (stock market), bucket shops. The panic was triggered by the failed attempt in October 1907 to cornering the market, corner the market on stock of the United Copper, United Copper Company. When the bid failed, banks that had lent money to t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1841 Births
Events January–March * January 20 – Charles Elliot of the United Kingdom and Qishan of the Qing dynasty agree to the Convention of Chuenpi. * January 26 – Britain occupies Hong Kong. Later in the year, the first census of the island records a population of about 7,500. * January 27 – The active volcano Mount Erebus in Antarctica is discovered, and named by James Clark Ross. * January 28 – Ross discovers the "Victoria Barrier", later known as the Ross Ice Shelf. On the same voyage, he discovers the Ross Sea, Victoria Land and Mount Terror. * January 30 – **El Salvador proclaims itself an independent republic, bringing an end to the Federal Republic of Central America. **A fire destroys two-thirds of the city of Mayagüez, Puerto Rico. * February 4 – The first known reference is made to Groundhog Day, celebrated in North America, in the diary of a James Morris. * February 10 – The Act of Union (''British North America Act'', 1840) is proclaimed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gilman City
Gilman City is a city in southeastern Harrison County and extending into northeastern Daviess County in the U.S. state of Missouri. The population was 329 at the 2020 census. History Gilman City was platted in 1897 when the railroad was extended to that point. A post office called Gilman City has been in operation since 1897. The city has the name of Theodore Gilman, a railroad banker. The city would continue to grow up until the removal of the railroad, which led to the slow decline of the town. Geography Gilman City is located on Missouri Route 146 approximately eleven miles southeast of Bethany and 16 northwest of Trenton, Missouri. The community of Melbourne is 4.5 miles to the east. According to the United States Census Bureau, the city has a total area of , all land. Demographics 2010 census As of the census of 2010, there were 383 people, 156 households, and 108 families living in the city. The population density was . There were 196 housing units at an average dens ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Central Bank
The European Central Bank (ECB) is the central component of the Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's Big Four (banking)#International use, most important central banks with a balance sheet total of around 7 trillion. The Governing Council of the European Central Bank, ECB Governing Council makes monetary policy for the Eurozone and the European Union, administers the foreign exchange reserves of EU member states, engages in foreign exchange operations, and defines the intermediate monetary objectives and key interest rate of the EU. The Executive Board of the European Central Bank, ECB Executive Board enforces the policies and decisions of the Governing Council, and may direct the national central banks when doing so. The ECB has the exclusive right to authorise the issuance of euro banknotes. Member states can issue euro coins, but the volume must be approved by the EC ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Progressive Party (United States, 1912–1920)
The Progressive Party, popularly nicknamed the Bull Moose Party, was a Third party (U.S. politics), third party in the United States formed in 1912 by former president Theodore Roosevelt after he lost the 1912 Republican Party presidential primaries, presidential nomination of the Republican Party to his former protégé turned rival, incumbent president William Howard Taft. The new party was known for taking advanced positions on Progressivism in the United States, progressive reforms and attracting leading national reformers. The party was also ideologically deeply connected with America's radical-liberal tradition. After the party's defeat in the 1912 United States presidential election, it went into rapid decline in elections until 1918 United States elections, 1918, disappearing by 1920. The "Bull Moose" nickname originated when Roosevelt boasted that he felt "strong as a Moose, bull moose" after losing the Republican nomination in June 1912 at the Chicago convention. As a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carter Glass
Carter Glass (January 4, 1858 – May 28, 1946) was an American newspaper publisher and Democratic Party (United States), Democratic politician from Lynchburg, Virginia, Lynchburg, Virginia. He represented Virginia in both houses of United States Congress, Congress and served as the United States Secretary of the Treasury under President Woodrow Wilson. He played a major role in the establishment of the U.S. Bank regulation in the United States, financial regulatory system, helping to establish the Federal Reserve System and the Federal Deposit Insurance Corporation. After working as a newspaper editor and publisher, Glass won election to the Senate of Virginia in 1899. He was a delegate to the Virginia Constitutional Convention of 1902, where he was an influential advocate for Racial segregation in the United States, segregationist policies. Historian J. Douglas Smith described him as “the architect of disenfranchisement in the Old Dominion.” He also promoted Progressivism ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nelson W
Nelson may refer to: Arts and entertainment * ''Nelson'' (1918 film), a historical film directed by Maurice Elvey * ''Nelson'' (1926 film), a historical film directed by Walter Summers * ''Nelson'' (opera), an opera by Lennox Berkeley to a libretto by Alan Pryce-Jones * Nelson (band), an American rock band * ''Nelson'', a 2010 album by Paolo Conte People * Nelson (surname), including a list of people with the name * Nelson (given name), including a list of people with the name * Horatio Nelson, 1st Viscount Nelson (1758–1805), British admiral * Nelson Mandela, the first black South African president * Bishop of Nelson (other), a title sometimes referred to as "Nelson" Fictional characters * Alice Nelson, the housekeeper on the TV series ''The Brady Bunch'' * Dave Nelson, a main character on the TV series ''NewsRadio'' * Emma Nelson (Degrassi: The Next Generation), on the TV series ''Degrassi: The Next Generation'' * Foggy Nelson, law partner of Matt Murdoc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Reserve Act
The Federal Reserve Act was passed by the 63rd United States Congress and signed into law by President Woodrow Wilson on December 23, 1913. The law created the Federal Reserve System, the central banking system of the United States. After Democrats won unified control of Congress and the presidency in the 1912 United States elections, 1912 elections, President Wilson, Congressman Carter Glass, and Senator Robert Latham Owen crafted a central banking bill that occupied a middle ground between the Aldrich Plan, which called for private control of the central banking system, and Progressivism in the United States, progressives like William Jennings Bryan, who favored government control over the central banking system. Wilson made the bill a top priority of his The New Freedom, New Freedom domestic agenda, and he helped ensure that it passed both houses of Congress without major amendments. The Federal Reserve Act created the Federal Reserve System, consisting of twelve regional F ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Monetary Commission
The National Monetary Commission was a U.S. congressional commission created by the Aldrich–Vreeland Act of 1908. After the Panic of 1907, the Commission studied the banking laws of the United States, and the leading countries of Europe. The chairman of the commission, Senator Nelson Aldrich, a Republican leader in the Senate, personally led a team of experts to major European capitals. They were stunned to discover how much more efficient the European financial system appeared to be and how much more important than the dollar were the pound, the franc and the mark in international trade. The commission's reports and recommendations became one of the principal bases in the enactment of the Federal Reserve Act of 1913 which created the modern Federal Reserve system. Background Following the panics of the late 1890s and early 1900s, the American people were aroused to the need for basic reforms. One of the most painful aspects of the economic crisis before World War I was the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aldrich–Vreeland Act
The Aldrich–Vreeland Act was a United States law passed in response to the Panic of 1907 which established the National Monetary Commission. On May 27, 1908, the bill passed the House, mostly on a party-line vote of 166–140, with 13 Republicans voting against it and no Democrats voting for it. On May 30, it passed in the Senate with 43 Republicans for the act and five Republicans joining the 17 Democrats against it. President Roosevelt signed the bill that same night. The act also allowed national banks to start national currency associations in groups of ten or more, with at least $5 million in total capital, to issue emergency currency. The bank notes were to be backed by not only government bonds but also almost any securities the banks were holding. The act proposed that the emergency currency had to go through a process of approval by the officers of the national currency associations before they were distributed by the Comptroller of the Currency. However, it is po ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Theodore Gilman With Andrew Carnegie 1914
Theodore may refer to: Places * Theodore, Australian Capital Territory, Australia * Theodore, Queensland, Australia * Theodore, Saskatchewan, Canada * Theodore, Alabama, United States * Theodore Reservoir, in Saskatchewan People * Theodore (given name), including a list of people with the name ** Theodore Roosevelt, 26th President of the United States **Grand Wizzard Theodore, American musician and DJ * Theodore (surname), including a list of people with the name Fictional characters * T-Bag (''Prison Break'') (Theodore Bagwell), in ''Prison Break'' * T-Dog (''The Walking Dead'') (Theodore Douglas), in ''The Walking Dead'' * Theodore Huxtable, in ''The Cosby Show'' * Theodore, in ''Alvin and the Chipmunks'' * Theodore Grambell, or CatNap, in video game ''Poppy Playtime'' * Theodore "The Roach" Roachmont, from Supernoobs Other uses * Theodore (horse), a British Thoroughbred racehorse * Theodore Racing, a Formula One constructor See also * Theodoros, or Theodorus * Principality ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
