L. M. Shaw
L. M. Shaw | |
---|---|
43rd United States Secretary of the Treasury | |
In office February 1, 1902 – March 3, 1907 |
|
President | Theodore Roosevelt |
Preceded by | Lyman J. Gage |
Succeeded by | George B. Cortelyou |
17th Governor of Iowa | |
In office January 13, 1898 – January 16, 1902 |
|
Lieutenant | James C. Milliman |
Preceded by | Francis M. Drake |
Succeeded by | Albert B. Cummins |
Personal details | |
Born | Leslie Mortier Shaw November 2, 1848 Morristown, Vermont, U.S. |
Died | Script error: The function "death_date_and_age" does not exist. Washington, D.C., U.S. |
Resting place | Oakland Cemetery, Denison, Iowa, U.S. |
Political party | Republican |
Spouse(s) | Alice Crenshaw |
Children | 3 |
Parents | Boardman O. Shaw Louise Spaulding "Lovisa" Shaw |
Alma mater | Cornell College |
Profession | Politician, Lawyer, Banker |
Religion | Methodist |
Leslie Mortier Shaw (November 2, 1848 – March 28, 1932), known as L. M. Shaw, was an American businessman, lawyer, and politician. He served as the 17th Governor of Iowa and was a Republican candidate in the 1908 presidential election.
Biography
Shaw was born in Morristown, Vermont, the son of Boardman O. Shaw and Louise Spaulding "Lovisa" Shaw. He attended Cornell College in 1874. Shaw married the former Alice Crenshaw on December 6, 1877, with whom he had three children.
He became a lawyer and banker, and in 1898 became the 17th Governor of Iowa, serving until 1902. He then became the U.S. Secretary of the Treasury under President Theodore Roosevelt from 1902 to 1907. Like his predecessor Secretary Lyman Gage, Shaw firmly believed that the Treasury should serve the money market in times of difficulty through the introduction of Treasury funds.
To this end, Shaw bought back the government bonds from commercial banks that owned them, increased the number of government depository banks, and in 1902, he told the banks that they no longer needed to keep cash reserves against their holdings of public funds. The intended effect of these actions was to provide a more elastic currency which would then respond to the needs of the market. The government intervention in the money market reached its height with Shaw. He resigned on March 3, 1907, to become as the banker in New York City.
He was a candidate for the Republican Party nomination during the U.S. presidential election in 1908.
After leaving the Presidential Cabinet and his public life, he returned to banking, working in New York City. Shaw died in Washington, D.C., and was buried in Oakland Cemetery in Denison, Iowa.
Footnotes
Further reading
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External links
Wikimedia Commons has media related to L.M. Shaw. |
Wikisource has the text of a 1905 New International Encyclopedia article about L. M. Shaw. |
Political offices | ||
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Preceded by | Governor of Iowa January 13, 1898 – January 16, 1902 |
Succeeded by Albert B. Cummins |
Preceded by | U.S. Secretary of the Treasury Served under: Theodore Roosevelt February 1, 1902 – March 3, 1907 |
Succeeded by George B. Cortelyou |
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- Commons category link is locally defined
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- 1848 births
- 1932 deaths
- Cornell College alumni
- Governors of Iowa
- Iowa Republicans
- People from Lamoille County, Vermont
- Republican Party state governors of the United States
- United States presidential candidates, 1908
- United States Secretaries of the Treasury
- Theodore Roosevelt administration cabinet members
- People from Denison, Iowa
- Iowa politician stubs