Jesse Holman Jones
| Jesse H. Jones | |
|---|---|
 |
|
| 9th United States Secretary of Commerce | |
|
In office September 19, 1940 – March 1, 1945 |
|
| President | Franklin D. Roosevelt |
| Preceded by | Harry L. Hopkins |
| Succeeded by | Henry A. Wallace |
| Personal details | |
| Born |
Jesse Holman Jones April 5, 1874 Robertson County, Tennessee, United States |
| Died | June 1, 1956 (aged 82) Houston, Texas, U.S. |
| Resting place | Forest Park Cemetery Houston, Texas |
| Political party | Democratic |
| Spouse(s) |
Mary Gibbs Jones (m. 1920 - 1956, his death) |
| Children | No children |
| Religion | Methodist |
Jesse Holman Jones (April 5, 1874 – June 1, 1956) was a Democratic politician and entrepreneur from Houston, Texas. He served as United States Secretary of Commerce from 1940 to 1945.
His most important role was to head the Reconstruction Finance Corporation (RFC), (1932–1945), a federal agency originally created in the Herbert Hoover administration that played a major role in combating the Great Depression and financing industrial expansion during World War II. Jones was in charge of spending US$50 billion, especially in financing railways and building munitions factories.
Born in Robertson County, Tennessee, Jones was the son of tobacco farmer and merchant William Hasque Jones and Laura Anna Holman. His mother died in 1880, when he was six years old. His father sent him to manage a tobacco factory at age 14, and at 19 he was put in charge of his uncle's lumberyards. Five years later, after his uncle, M. T. Jones, died, Jones moved to Houston to manage his uncle's estate and opened a lumberyard company, which grew quickly. During this period, Jesse opened his own business, the South Texas Lumber Company. He also began to expand into real estate, commercial building and banking.
In 1908, Jones constructed a new and plant for the rapidly growing Houston Chronicle in exchange for a half-interest in the company, which had been solely owned by Marcellus Foster. The relationship between Jones and the Chronicle lasted the rest of his life. In 1926, Jones became the sole owner of the paper and named himself as publisher. In 1937, he transferred ownership of the paper to the newly established Houston Endowment Inc.
Sometime after 1908, Jones organized the Texas Trust Company. By 1912, he had become president of Houston's National Bank of Commerce. This bank later merged with Texas National Bank in 1964 to become the Texas National Bank of Commerce, renamed to Texas Commerce Bank which grew into a major regional financial institution. It became part of JP Morgan Chase & Co. in 2008.
...
Wikipedia