William McAdoo

William McAdoo (1863-1941), American lawyer and politician. William Gibbs McAdoo was born near Marietta, Georgia, and educated at the University of Tennessee. He studied law and practiced in Chattanooga from 1885 until 1892, when he opened a law office in New York City. As president of the Hudson and Manhattan Railroad Company (1902), he supervised the construction of the first tunnel under the Hudson River from 1904 to 1913. He became active in the Democratic party and supported New Jersey governor Woodrow Wilson for the Democratic presidential nomination. After Wilson became president, McAdoo served (1913-18) as secretary of the treasury and was instrumental in the formation of the Federal Reserve System in 1914. That year he married Eleanor Randolph Wilson, a daughter of President Wilson. McAdoo served (1917-19) as U.S. director general of railways. In 1920 and 1924 he was a prominent candidate for the Democratic presidential nomination, but he was defeated on both occasions. He was elected U.S. senator from California in 1933 and served until 1938. His autobiography, Crowded Years, was published in 1931.