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Carter Glass ( January 4 , 1858 – May 28 , 1946 ) was an American politician from Virginia , who served many years in Congress with the Democratic Party . He also served as the U.S. Secretary Of The Treasury under Woodrow Wilson . Glass was born in Lynchburg, Virginia , and became a newspaper editor. He was elected to the Virginia state Senate in 1899 , and was a delegate to the Virginia constitutional convention of 1901 - 1902 . He was one of the most influential members of the convention, which imposed a Poll Tax and a Literacy Test in order to disenfranchise African Americans , but which also instituted measures associated with The Progressive Movement , such as the establishment of the State Corporation Commission to regulate railroads and other corporations. Glass was elected to Congress as a Democrat in 1902 , to fill a vacancy. In 1913 , he became Chairman of the House Committee On Banking And Currency , where he worked with Wilson on the Federal Reserve Act . In 1919 , Wilson then appointed him Secretary of the Treasury, succeeding William Gibbs McAdoo . His signature as Secretary of the Treasury can be found on series 1914 Federal Reserve Notes, issued while he was in office. He served in that role until 1920 , when he was appointed to the United States Senate to fill the vacancy caused by the death of Thomas S. Martin . Glass served in the U.S. Senate for the remainder of his life, turning down the offer of the Treasury from Franklin Roosevelt in 1933 . Glass became Chairman of the Appropriations Committee when the Democrats regained control of the Senate in 1933 , and also as President Pro Tempore from 1941 to 1945 . As a Senator, Glass's most notable achievement was passage of the Glass-Steagall Act , which separated the activities of banks and securities brokers and created FDIC insurance. Glass died in Washington, D.C. on May 28 , 1946 . EXTERNAL LINK
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