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  3. April
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  5. Nelson W. Aldrich

Deaths on April 16

Nelson W. Aldrich
1915Apr, 16

Nelson W. Aldrich

Nelson W. Aldrich, American businessman and politician (b. 1841)
Nelson Wilmarth Aldrich (/ˈɑldɹɪt͡ʃ/; November 6, 1841 – April 16, 1915) was a prominent American politician and a leader of the Republican Party in the United States Senate, where he represented Rhode Island from 1881 to 1911. By the 1890s, he was one of the "Big Four" key Republicans who largely controlled the major decisions of the Senate, along with Orville H. Platt, William B. Allison, and John Coit Spooner. Because of his impact on national politics and central position on the pivotal Senate Finance Committee, he was referred to by the press and public alike as the "general manager of the Nation", dominating tariff and monetary policy in the first decade of the 20th century.

Born in Foster, Rhode Island, Aldrich served in the Union Army during the American Civil War. After the war, he became a partner in a large wholesale grocery firm and won election to the Rhode Island House of Representatives. He served a single term in the United States House of Representatives before winning election to the Senate. In the Senate, he helped to create an extensive system of tariffs that protected American factories and farms from foreign competition, and he was a cosponsor of the Payne–Aldrich Tariff Act. He also helped win Senate approval of the 1898 Treaty of Paris, which ended the Spanish–American War.

Aldrich led the passage of the Aldrich–Vreeland Act, which established the National Monetary Commission to study the causes of the Panic of 1907. He served as chair of that commission, which drew up the Aldrich Plan as a basis for a reform of the financial regulatory system. The Aldrich Plan strongly influenced the Federal Reserve Act of 1913, which established the Federal Reserve System. Aldrich also sponsored the Sixteenth Amendment, which allowed for a direct federal income tax.

Deeply committed to the efficiency model of the Progressive Era, he believed that his financial and trade policies would lead to greater efficiency. Reformers, however, denounced him as representative of the evils of big business. His daughter Abigail married American financer John Davison Rockefeller Jr. who was the son of Standard Oil co-founder John D. Rockefeller. His descendants, including namesake Nelson A. Rockefeller, became powerful figures in American politics and banking.


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Events on 1915

  • 12Jan

    Women's suffrage

    The United States House of Representatives rejects a proposal to require states to give women the right to vote.
  • 28Jan

    United States Coast Guard

    An act of the U.S. Congress creates the United States Coast Guard as a branch of the United States Armed Forces.
  • 18Mar

    Battle of Gallipoli

    World War I: During the Battle of Gallipoli, three battleships are sunk during a failed British and French naval attack on the Dardanelles.
  • 20Mar

    General relativity

    Albert Einstein publishes his general theory of relativity.
  • 17May

    Herbert Henry Asquith

    The last British Liberal Party government (led by Herbert Henry Asquith) falls.

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