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Encyclopedia > William Hartman Woodin
Woodin, 1933, Time
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Woodin, 1933, Time
Woodin's signature, as used on American currency
Woodin's signature, as used on American currency

William Hartman Woodin (18681934) was a U.S. industrialist. He served as the Secretary of Treasury under Franklin Roosevelt in 1933. Image File history File links Time-magazine-woodwin. ... Image File history File links Time-magazine-woodwin. ... Image File history File links W_H_Woodin_sig. ... Image File history File links W_H_Woodin_sig. ... 1868 (MDCCCLXVIII) was a leap year starting on Wednesday (see link for calendar) of the Gregorian calendar or a leap year starting on Friday of the 12-day-slower Julian calendar. ... 1934 (MCMXXXIV) was a common year starting on Monday (link will take you to calendar). ... This article is about the country in North America. ... The United States Secretary of the Treasury is the finance minister of the Federal Government of the United States. ... Franklin Delano Roosevelt (January 30, 1882–April 12, 1945), 32nd President of the United States, the longest-serving holder of the office and the only man to be elected President more than twice, was one of the central figures of 20th century history. ... 1933 (MCMXXXIII) was a common year starting on Sunday (link will take you to calendar). ...


Mr. Woodin resigned as Secretary of the Treasury at the end of 1933 and died in May 1934.


Woodin, a Republican businessman, was a major contributor to Roosevelt's campaign in 1932. He served as Treasury Secretary from March 1933 until he resigned effective December 31, 1933. Because of his poor health, for much of his tenure, Under Secretary Dean Acheson served as Acting Secretary of the Treasury.


Despite his illness, Woodin was involved in major decisions that the brand-new Roosevelt Administration took to combat the Great Depression.


In March 4, 1933, when President Roosevelt first took the oath of office, banks were closing their doors all over the United States as waves of panic led depositors to demand immediate payment of their money. Woodin was the point man in the Administration's declaration of a "Bank Holiday" which closed every bank in the U.S. until bank examiners could determine which were sound enough to re-open. With "seals of approval" from the examiners, depositors regained confidence, and the vast majority left their money in bank deposits. This became the fore-runner of the Federal Deposit Insurance Corporation and other such Federal guarantees intended to foster the trust which is essential to the entire financial system.


Woodin also presided over the Roosevelt Administration's withdrawal from the international monetary conference in London and decision to take the United States off the international gold standard. While he was Secretary of the Treasury, the Administration also began the decision-making process that eventually led to the Administration's decision to buy all the gold in private hands in the United States (other than that used by dentists and jewelers)and to devalue the dollar. Under Secretary Acheson was so opposed to the latter two decisions that he resigned in protest.


Woodin is the great-grandfather of Berkeley set theorist W. Hugh Woodin. The University of California, Berkeley (also known as UC Berkeley, Berkeley, Cal, and by other names, see below) is the oldest and flagship campus of the ten-campus University of California system. ... W. Hugh Woodin is a set theorist at University of California, Berkeley. ...

Preceded by:
Ogden L. Mills
United States Secretary of the Treasury
1933
Succeeded by:
Henry Morgenthau, Jr.
United States Secretaries of the Treasury Seal of the United States Department of the Treasury
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