Events in the Life of William McChesney Martin Jr.

The Early Years,1906-1928

September 6, 1901William McKinley, President of the United States, is assasinated and succeeded by Theodore Roosevelt, who is elected in 1904 and serves until 1909.
April 30, 1904The Lousiana Purchase Exposition (St. Louis World's Fair) opens in St. Louis, Missouri.
1905William McChesney Martin Sr. marries Rebecca Woods in St. Louis, Missouri.
December 17, 1906William McChesney Martin Jr. is born in St. Louis, Missouri.
January 1, 1907The New Year's Eve Ball drops for the first time from a flagpole on top of One Times Square, New York, New York.
November 16, 1907Oklahoma becomes the 46th state.
October 21, 1907Panic of 1907 begins on October 21 with a run on the Knickerbocker Trust. On October 24, J.P. Morgan forbids the New York Stock Exchange to close and raises $25 million in 15 minutes to add liquidity.
May 1, 1907Construction begins on the "new" cathedral on Lindell Boulevard in St. Louis, Missouri. Construction is completed in 1988.
May 30, 1908Aldrich-Vreeland Currency Act grants banks the authority to issue currency pegged to commercial notes and government bonds.
August 12, 1908First Ford Model T rolls off the assembly line.
November 3, 1908William Howard Taft is elected President of the United States. He serves 1909-1913.
November 14, 1908Albert Einstein presents his quantum theory of light.
April 6, 1909Robert E. Perry and Matthew A. Henson reach the North Pole.
June 4, 1911Gold is discovered in Alaska.
1911Malcolm W. Martin, younger brother, is born in St. Louis Missouri.
January 6, 1912New Mexico becomes the 47th state.
February 14, 1912Arizona becomes the 48th state.
April 15, 1912RMS Titanic sinks off the coast of Newfoundland after striking an iceberg on its maiden voyage.
November 5, 1912Woodrow Wilson is elected President of the United States. He serves 1913-1921.
February 3, 1913The 16th Amendment is ratified by the requisite 36 states. It provides for the collection of a federal income tax.
December 23, 1913Federal Reserve Act, creating the Federal Reserve System, is passed by Congress. William McChesney Martin Sr. worked with Representative Carter Glass of Virginia on early drafts of the legislation.
January 6, 1914Stock brokerage firm Merrill Lynch is founded.
July 28, 1914Archduke Francis Ferdinand and his wife are assassinated in Sarajevo, Austria-Hungary (Bosnia).
July 28, 1914Austria-Hungary declares war on Serbia. World War I begins in Europe.
July 28, 1914New York Stock Exchange closes for 4-1/2 months in response to the European war.
August 10, 1914Charles S. Hamlin becomes Chairman of the Board of Governors of the Federal Reserve. He serves until August 9, 1916.
August 18, 1914President Wilson issues his Proclamation of Neutrality hoping to keep American out of the European war.
September 1, 1914William McChesney Martin Sr. is appointed Chairman of the Board and Federal Agent of the Federal Reserve Bank of St. Louis. St. Louis Mayor, Rolla Wells, is President of Board of Directors.
September 26, 1914Federal Trade Commission is established to promote consumer protection and prohibit anti-competitive business practices.
November 16, 1914Federal Reserve Bank of St. Louis opens.
January 25, 1915Alexander Graham Bell institutes transcontinental telephone service.
May 7, 1915The British liner Lusitania is sunk by German U-boat with 125 Americans aboard.
August 15, 1915The cargo ship, Ancon, becomes the first ship to sail through the Panama Canal.
August 10, 1916W.P.G. Harding becomes Chairman of the Board of Governors of the Federal Reserve. He serves until August 9, 1922.
January 16, 1920Prohibition Amendment (18th Amendment to the Constitution) goes into effect. It prohibits the sale, manufacture, and transportation of alcohol for beverage purposes.
November 2, 1920Warren G. Harding is elected President of the United States. He serves 1921-1923.
1922Sportsman's Park, home of the St. Louis Browns (AL) and the St. Louis Cardinals (NL), is renovated and expanded.
January 1923William McChesney Martin Jr. graduates from Soldan High School at the age of 16. He attends Country Day School in St. Louis the following year prior to enrolling in college.
August 2, 1923President Harding dies in office. He is succeeded by Calvin Coolidge, who wins election on November 4, 1924 and serves until 1929.
May 1, 1923Daniel R. Crissinger becomes Chairman of the Board of Governors of the Federal Reserve. He serves until September 15, 1927.
March 23, 1923The cornerstone laid for the Federal Reserve Bank of St. Louis at the corner of Locust and Broadway. This building is still occupied by the Bank today.
September 1924William McChesney Martin Jr. enters Yale University.
April 3, 1925Great Britain goes back on gold standard.
October 10, 1926St. Louis Cardinals win the World Series over the New York Yankees in Sportsman's Park.
September 29, 1927A tornado hits midtown and western St. Louis.
October 4, 1927Roy A. Young becomes Chairman of the Board of Governors of the Federal Reserve. He serves until August 31, 1930.
June 17, 1928William McChesney Martin Jr. graduates from Yale University with a degree in English.