Carter Glass

Who was Carter Glass?

Carter Glass was a newspaper publisher and politician from Lynchburg, Virginia. He served many years in Congress as a member of the Democratic Party. As House co-sponsor, he played a central role in the development of the 1913 Glass-Owen Act that created the Federal Reserve System. Glass subsequently served as the U.S. Secretary of the Treasury under President Woodrow Wilson. Later elected to the Senate, he became widely known as co-sponsor of the Glass–Steagall Act of 1933, which enforced the separation of investment banking and commercial banking, and established the Federal Deposit Insurance Corporation.