Carter Glass (1858–1946) was an American newspaper publisher, politician, and financial reformer, instrumental in shaping the Federal Reserve System and co-sponsoring the Glass-Steagall Act.
Born in Lynchburg, Virginia, Glass started in journalism, becoming editor and publisher of the Lynchburg News. His political career led him to the Virginia Senate (1899–1902) and the U.S. House of Representatives (1902–18,) where he chaired the House Banking and Currency Committee and helped draft the Federal Reserve Act (1913,) establishing the U.S. central banking system.
Glass served as Secretary of the Treasury (1918–20) under President Woodrow Wilson, managing World War I financial policies. In 1920, he was appointed to the U.S. Senate, where he remained until his death. His major legislative achievement, the Glass-Steagall Act (1933,) introduced banking reforms and created the Federal Deposit Insurance Corporation (FDIC.)
His writings include The Origin of the Federal Reserve System (1933,) examining U.S. monetary policy, and The Banking Act of 1933, detailing financial regulations.
More: Wikipedia • READ: Works by Carter Glass
A liberal is a man who is willing to spend somebody else’s money.
—Carter Glass
Topics: Liberalism, Politics
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