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This Day in Georgia History

October 31, 1863

William G. McAdoo Born

U.S. railroad businessman, lawyer, and politician William G. McAdoo was born near Marietta. He would serve as U.S. secretary of the treasury (1913-18), found the Federal Reserve Board and serve as its first chairman (1914), and director general of U.S. railroads (1917-1919). McAdoo also undertook fund-raising drives that contributed $18 billion to finance the Allies’ war effort in World War I. He was a candidate for the Democratic presidential nomination in 1920 and 1924, and later served a term as U.S. Senator from California (1933-39). He died in Washington, D.C. on Feb. 1, 1941.