Norris, George W., 1864-1942

George W. Norris stood at the helm of the Federal Reserve Bank of Philadelphia during the 1929 stock market crash and subsequent Great Depression. In October 1914, Norris was appointed as a Class C director of the Philadelphia Fed. He resigned as vice chairman of the Reserve Bank's board of directors when, in August 1916, President Woodrow Wilson appointed him to serve as commissioner of the Federal Farm Loan Board. Norris remained in that post until he resigned in March 1920 to rejoin the Philadelphia Fed as governor, the role known today as president. In that position, he helped oversee the Federal Reserve's first open market operations in 1923. He also helped avert monetary panic on October 29, 1929, by issuing discounts and advances. He continued to serve as governor until he retired in February 1936. (Source: Federal Reserve History)