William Hartman Woodin (May 27, 1868 – May 3, 1934) was a U.S.
industrialist. He served as the
Secretary of Treasury
Secretary of Treasury under Franklin
Roosevelt in 1933.
Woodin was born in Berwick, Pennsylvania. He was closely involved in
Jackson and Woodin Manufacturing Company. His father, Clemuel Ricketts
"Clement" Woodin, preceded him in the presidency of the company and
his grandfather, also named William Hartman Woodin, was an early
partner in the company. He was a member of the Union League Club of
New York. Woodin graduated from Columbia College School of Mines in
Jackson & Woodin grew under this combined leadership to become the
largest railroad car builder in the eastern United States, and was one
of the 13 companies that merged in 1899 to form American
Foundry Company (ACF).
Woodin married Annie Jessup, on October 9, 1889. They had three
daughters and one son: Mary, Annie Jessup, William Hartman, Jr., and
Elizabeth Foster Woodin. They lived in New York City.
Woodin stayed on with ACF for a while after the
Woodin worked up through ACF management to become president in
1916. He was a director of the Federal Reserve Bank of New York
from 1927 through 1932.
As Will Woodin, he collaborated with children's author Johnny Gruelle,
composing music for the 1930 book Raggedy Ann's Sunny Songs and was
the namesake of Gruelle's character Little Wooden Willie. In 1933,
Woodin composed a march in honor of Roosevelt.
Secretary of the Treasury 'William H. Woodin, (1933 Time)
Woodin was a Republican businessman and was a major contributor to
Roosevelt's campaign in 1932. Woodin served as the Treasury Secretary
from March 4, 1933 until he resigned effective December 31, 1933.
Because of his poor health, for some weeks in 1933 Treasury
Dean Acheson served as the Acting Secretary of the
Treasury. Woodin was involved in major decisions that the new
Roosevelt administration made to combat the Great Depression.
On March 4, 1933, when 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 preceded the creation
of deposit insurance and the Federal Deposit Insurance Corporation
with the passage of the Glass-Steagall Act of 1933.
Woodin also presided over the Roosevelt Administration's withdrawal
from the international monetary conference in
London and the decision
to take the
United States off the international gold standard there.
While he was the 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 then
to raise the dollar price of gold, devaluing the dollar against
Treasury Under Secretary
Dean Acheson opposed FDR on the latter two
decisions and was forced to resign in November 1933. Woodin was an
avid coin collector and when gold was withdrawn from private hands, he
made certain that an exception was put in place for "rare or unusual"
He died in New York City, New York, and was buried in Pine Grove
Cemetery, near his birthplace of Berwick, Pennsylvania.
Woodin is the great-grandfather of mathematician W. Hugh Woodin.
^ "Roosevelt Names Last of Cabinet". The New York Times.
^ White, John H. Jr. (1993). The American Railroad Freight Car: From
Car Era to the Coming of Steel. Baltimore: Johns Hopkins
University Press. ISBN 0-8018-4404-5. OCLC 26130632.
^ "Jackson & Woodin Manufacturing Company". Mid-Continent Railway
Museum. 2006-04-11. Retrieved 2008-04-16.
^ "Woodin, Clemuel Ricketts". Columbia-Luzerne County PA Archives
Biographies. USGenWeb. 2005-07-01. Archived from the original on
2008-05-24. Retrieved 2008-04-16. Extracted from Biographies of
the Seventeenth Congressional District. Chicago: Biographical
Publishing Company. 1899.
^ Katz, Bernard S., ed.; and Vencill, C. Daniel (1996). Biographical
Dictionary of the
United States Secretaries of the Treasury. Greenwood
Press. p. 387. ISBN 0-313-28012-6. CS1 maint: Multiple
names: authors list (link)
^ "Music: Turn Tiddily Tycoon". Time. January 26, 1931.
^ Wayne Homren (2007-12-16). "William H. Woodin'S Political Journey
And Musical Talent". Coinbooks.org. Retrieved 2013-11-17.
Ogden L. Mills
U.S. Secretary of the Treasury
Served under: Franklin D. Roosevelt
March 5 – December 31, 1933
Henry Morgenthau, Jr.
United States Secretaries of the Treasury
Cabinet of President
Franklin D. Roosevelt
Franklin D. Roosevelt (1933–45)
John N. Garner (1933–41)
Henry A. Wallace
Henry A. Wallace (1941–45)
Harry S. Truman
Harry S. Truman (1945)
Secretary of State
Cordell Hull (1933–44)
Edward R. Stettinius Jr. (1944–45)
Secretary of the Treasury
William Hartman Woodin (1933–34)
Henry Morgenthau Jr.
Henry Morgenthau Jr. (1934–45)
Secretary of War
George H. Dern (1933–36)
Harry H. Woodring (1936–40)
Henry L. Stimson
Henry L. Stimson (1940–45)
Homer S. Cummings (1933–39)
Frank Murphy (1939–40)
Robert H. Jackson
Robert H. Jackson (1940–41)
Francis B. Biddle (1941–45)
James A. Farley (1933–40)
Frank C. Walker (1940–45)
Secretary of the Navy
Claude A. Swanson
Claude A. Swanson (1933–39)
Charles Edison (1940)
Frank Knox (1940–44)
James V. Forrestal (1944–45)
Secretary of the Interior
Harold L. Ickes
Harold L. Ickes (1933–45)
Secretary of Agriculture
Henry A. Wallace
Henry A. Wallace (1933–40)
Claude Raymond Wickard (1940–45)
Secretary of Commerce
Daniel C. Roper
Daniel C. Roper (1933–38)
Harry L. Hopkins (1938–40)
Jesse H. Jones
Jesse H. Jones (1940–45)
Henry A. Wallace
Henry A. Wallace (1945)
Secretary of Labor
Frances Perkins (1933–45)