Theodore Gilman | |
|---|---|
&sq=&lang=&file=File:Theodore_Gilman,_1890.jpg) Theodore Gilman in 1890 | |
| Born | January 2, 1841 Alton, Illinois, United States |
| Died | August 9, 1930 (aged 89) |
| Occupation(s) | Banker, progressive reformer |
| Known for | Advocate for stabilizing the U.S. financial system with an idea that was a precursor to the Federal Reserve System |
| Spouse |
Elizabeth Drinker Paxson
(m. 1863) |
| Parent(s) | Winthrop Sargent Gilman (father), Abia Swift Lippincott Gilman (mother) |
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."[1]
- ^ "Theodore Gilman, Banker, Dies at 89". New York Times. August 11, 1930. p. 13. Retrieved April 2, 2023.