William McAdoo and the American Economy
There are several people who influenced the economy in America between 1900 and 1929. One notable person who influenced the economy during the early 1900 was William Gibbs McAdoo. McAdoo spent most of his youth in the southern United States. As a young adult he moved to New York where he undertook the enormous work of constructing tunnels under the Hudson River. The purpose of the project was to create railroads that would run and connect the cities of New Jersey with the shopping districts of Manhattan. The success of the project helped McAdoo make a name for himself. McAdoo supported Woodrow Wilson during his 1912 presidential campaign. After Wilson became president, he appointed McAdoo as his Secretary of the Treasury. [1] In an unusual act, McAdoo married President Wilson’s daughter. It was the first time in recent history the chief executive had someone in his cabinet that was the husband of his daughter. Some thought this would cause McAdoo to lose his position as Secretary of...