Carter Glass

Date of Birth: January 4, 1858

Zodiac Sign: Capricorn

Date of Death: May 28, 1946

Biography

Carter Glass was an influential American politician and newspaper publisher who played a significant role in shaping the financial and banking landscape of the United States in the early 20th century. Born in Lynchburg, Virginia, Glass began his career in journalism, eventually becoming the owner and editor of the Lynchburg News. His interest in politics led him to serve in the Virginia State Senate from 1899 to 1903. He was elected to the U.S. House of Representatives in 1902, where he served until 1918. Glass’s most notable contribution came as the Secretary of the Treasury under President Woodrow Wilson from 1918 to 1920. During his tenure, he was a primary architect of the Federal Reserve Act of 1913, which established the Federal Reserve System, fundamentally transforming the American banking system. After serving in the Treasury, he was appointed to the U.S. Senate, where he served from 1920 until his death in 1946. Known for his conservative fiscal policies, Glass was a staunch advocate for sound banking regulation and played a crucial role in the passage of the Glass-Steagall Act of 1933, which separated commercial and investment banking.

5 Interesting Facts about Carter Glass

1. Carter Glass was a key figure in the creation of the Federal Reserve System.

2. He served as Secretary of the Treasury during World War I.

3. The Glass-Steagall Act, which he co-authored, established significant banking reforms during the Great Depression.

4. Glass was known for his staunch conservative fiscal views and opposition to the New Deal.

5. He was the longest-serving member of the U.S. Senate from Virginia at the time of his death.

5 Most Interesting Quotes from Carter Glass

1. “Is there any reason why the American people, simply because they are Americans, should be denied the same right to protect their savings that is accorded to the people of any other nation?”

2. “The federal government must and will set the example of honesty and efficiency.”

3. “The currency of a nation is a public medium and should be regulated by the representatives of the people.”

4. “Sound banking principles must be adhered to if we are to avoid a repeat of the financial disasters of the past.”

5. “I have never believed that the government should be involved in the day-to-day operations of private enterprise.”

Highest Net Worth Achieved

Carter Glass’s highest net worth, adjusted for inflation, is difficult to ascertain precisely. However, as a prominent politician and newspaper publisher in his era, it is estimated to have been in the range of several million dollars.