Historical records matching John Wesley Snyder, U.S. Secretary of the Treasury
About John Wesley Snyder, U.S. Secretary of the Treasury
John Wesley Snyder (June 21, 1895 – October 8, 1985) was an American businessman and Secretary of the Treasury for the Truman administration.
Snyder was born in Jonesboro, Arkansas on June 21, 1895, to son of Jesse Hartwell Snyder and his wife Ellen (Hatcher). He studied at Vanderbilt University's engineering school for one year before joining in the Army during World War I.
Snyder came to Washington in the early 1930s with a broad background in banking and business. He held several public and private offices including National Bank Receiver in the Office of the Comptroller of the Currency, Federal Loan Administrator, and Director of War Mobilization and Reconversion. In the last office he played a leading part in the transition of the nation's economy from wartime to a peacetime basis.
Snyder was appointed the U.S. Secretary of the Treasury in 1946, by his close personal friend President Harry S. Truman, with whom he had served in World War I. His task as Secretary was to establish a stable postwar economy. The main points of his program were maintaining confidence in the credit of the government, reducing the federal debt, and encouraging public thrift through investment in U.S. Savings Bonds. In 1953, he retired from government at the end of Truman's second term.
Snyder died in Seabrook Island, South Carolina on October 8, 1985 at the age of 90, and was buried in Washington National Cathedral.