One of the ablest Democratic politicians of his time, William Gibbs McAdoo (1863-1941) was a superb administrator and organizer who served as a U.S. senator and a Cabinet officer in Wilson's administration.

The son of a southern jurist, William Gibbs McAdoo was born near Marietta, Ga., and educated at the University of Tennessee. After practicing law in Chattanooga, Tenn., for several years, he opened a law office in New York City in 1892. Ten years later he organized and directed the company that completed construction of the railroad tubes under the Hudson River. After service as vice-chairman of the Democratic National Committee in 1912, McAdoo became President Woodrow Wilson's secretary of the Treasury. In addition to his duties as secretary, he served as chairman of the Federal Reserve Board, the Federal Farm Loan Board, the War Finance Corporation, and the United States section of the International High Commission. He...