William P. G. Harding

William Proctor Gould Harding (May 5, 1864 – April 7, 1930) was an American banker who served as the second chairman of the Federal Reserve from 1916 to 1922. Prior to his term as chairman, Harding served as one of the original members of the Federal Reserve Board, taking office in 1914. During his tenure as chairman, he concurrently served as the managing director of the War Finance Corporation from 1918 to 1919. After leaving the Fed, Harding traveled to Cuba and advised the Cuban government on the reorganization of its financial and accounting system.

He returned to United States a year later and was elected governor of the Federal Reserve Bank of Boston from 1923 until his death in 1930.

Early life Harding was born on May 5, 1864, to Horace Harding and Eliza Proctor Gould Harding in Boligee, Alabama. The portrait painter Chester Harding was a grandfather. He received his early education in Tuscaloosa, Alabama, and before entering the University of Alabama he received his preparatory support from many established and respected educators such as Dr. Warfield C. Richardson and Prof. Joseph M. Dill.

Later life

Harding relinquished his title when asked by President Woodrow Wilson to become a member of the Federal Reserve Board on August 10, 1914, before the onset of World War I. On August 10, 1916, he was appointed by Woodrow as a member of the Federal Reserve Board and was appointed director of the War Finance Corporation until 1922. He returned to America in 1923 and was appointed as president of the Federal Reserve Bank of Boston where he served until his death on April 7, 1930 from heart failure after a long illness at his home in Boston, Massachusetts.

Personal life In October 1895 he was married to Amanda Moore, a granddaughter of Alabama congressman Sydenham Moore, and with her had three children before her death by suicide in 1910. His daughter Margaret also later committed suicide in 1924. Harding was a member of the Freemasonry fraternal organization and an Episcopalian.