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with the financial backing of their father. In
October 1859, they purchased the Central Bank of New Ulm, Minnesota, a note-issuing bank organized under the free banking law of Minnesota, but continued their office in St. Paul. By June 1861, pressures of the Civil War contributed to a devastating
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Knox was made Deputy
Comptroller of the Currency in 1867. In that capacity in April 1870, Knox prepared a 100-page report codifying the mint and coinage laws of the United States. This was followed in June 1870 with another report of similar length, collecting the views of mint employees and
372:
depreciation in the bonds used to secure notes of the
Central Bank, and the Knox brothers allowed the bank to fail. Note holders were eventually paid 30 cents on the dollar for Central Bank notes. This experience significantly shaped Knox's opinion on banking.
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and contributed ideas to the national bank debate, advocating safe and convertible notes of a uniform type for all national banks, backed by the guarantee of government bonds. He authored two influential articles on the matter, published in
536:
Interview of John Jay Knox...Before the
Committee on Coinage, Weights, and Measures of the House of Representatives upon the Coinage Act of 1873 and the Silver Question, Saturday, February 21, 1891.
464:. At the time of his resignation he had served 17 years in the Comptroller's office as part of almost 22 years in the Treasury Department, making him the longest serving officer in that department.
439:— an event which triggered a rapid fall in the price of silver and which ushered in an era of bitter currency debate which dominated the political landscape for the better part of three decades.
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Knox was
Comptroller of the Currency from 1872 to 1884. An advocate of uniform currency for the national banks of the country, his portrait was featured on the obverse of the $ 100 United States
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By late John Jay Knox, assisted by Corps of
Financial Writers, Revised and Brought Up to Date by Bradford Rhodes and Elmer H. Youngman, New York: Bradford Rhodes & Company, 1900.
528:
The
Surplus and the Public Debt: Address of the Hon. John Jay Knox...at the Annual Convention of the American Bankers' Association at Pittsburgh, Pennsylvania, October 12, 1887.
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347:, where he worked for four more years. Knox gained experience and authority in a series of further jobs in the banking industry which followed, including stops in
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Knox was married to
Caroline Elizabeth Todd (1847–1922), a daughter of Elizabeth Irving (née Gilliss) Todd and William Balch Todd, a director of the
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was admitted to the United States, Knox and his brother, Henry M. Knox, launched their own banking house, J. Jay Knox & Co., in the city of
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Curtis) Knox (1794–1875) and John J. Knox Sr. (1791–1876), a prominent merchant and bank president and was himself the namesake of
Knoxboro.
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in 1866 and later in that same year discovered a $ 1.1 million misappropriation of funds in a similar report on the activities of the
177:
396:
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127:
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Knox died at his home in New York City on
February 9, 1892. He was 63 years old at the time of his death and was buried at
419:, in 1866 Knox was put in charge of the Mint and Coinage Correspondence for that department. He authored a report on the
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in 1861 and 1862, which gained the notice of Secretary Chase. Chase would bring Knox into the service of the
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On May 1, 1884, Knox resigned his post in order to become president of the National Bank of the Republic in
544:
United States Notes: A History of the Various Issues of Paper Money by the Government of the United States.
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Illustrated History of the United States Mint, with a Complete Description of American Coinage...
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John Jay Knox's portrait was featured on the $ 100 National Bank Notes of the series of 1902.
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in Washington. His widow died in 1922 while she was President of the Women's Board of the
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The Sixtieth Anniversary of the Marriage of John J. and Sarah Ann Knox, October 7th, 1873
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1001:"John Jay Knox's Funeral.; Attended by Many Prominent Busi- Ness and Professional Men"
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from circulation. Knox's proposal was passed into law after a few amendments as the
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Obituary Record of Graduates of Yale College: Deceased During the Academic Year ...
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973:"John Jay Knox's Funeral.; Services in the Church of the Epiphany in Washington"
379:$ 1 note issued by The Central Bank of New Ulm signed by J. Jay Knox, president.
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Emma Willard and Her Pupils: Or, Fifty Years of Troy Female Seminary, 1822-1872
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Upon graduation he went to work for his father in his bank, working there as a
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427:— the largest such misappropriation in US government history up to that time.
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17:
917:"HERMAN W. KNOX. Retired Oil Company Official Dies Suddenly of Heart Attack"
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and government official. He is best remembered as a primary author of the
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Working in the Treasury Department throughout the closing years of the
407:
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Knox became an advocate of the system of national banks proposed by
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in 1872. He was reappointed to a second 5-year term by President
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financial experts and providing for legislation to eliminate the
547:
Revised Third Edition. New York: Charles Scribner's Sons, 1892.
501:
Herman Warren Knox (1882–1931), the former secretary of the
277:(March 19, 1828 – February 9, 1892) was an American
703:
National Cyclopaedia of American Biography: Volume 3.
746:"John Jay Knox (Washington, DC) - Bank Note History"
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Tuttle, Morehouse & Taylor Company. p. 473
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National Cyclopaedia of American Biography: Vol. 3,
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705:New York: James T. White & Co., 1893; pg. 15.
539:Washington, DC: Government Printing Office, 1891.
531:New York: Bankers' Publishing Association, 1887.
323:The younger Knox was well educated and attended
1184:Burials at Oak Hill Cemetery (Washington, D.C.)
480:John Jay Knox (1874–1875), who died in infancy.
304:John Jay Knox Jr. was born March 19, 1828, in
598:
596:
8:
779:Philadelphia: George G. Evans, 1888; pg. 95.
483:John Jay Knox III (1877–1913), who died in
1154:United States comptrollers of the currency
1139:Comptrollers of the United States Treasury
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453:in 1877, and to a third term by President
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573:"Internal Revenue Service Data Book 2003"
343:for two years before moving to a bank in
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552:History of Banking in the United States.
490:Irving Gilliss Knox (1879–1921), a Yale
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75:April 25, 1872 – April 30, 1884
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476:. Together, they were the parents of:
7:
285:, which discontinued the use of the
140:May 11, 1883 – May 20, 1883
331:, from which he graduated in 1849.
1144:Hamilton College (New York) alumni
25:
1149:Comptrollers in the United States
1134:American male non-fiction writers
494:graduate who became a member of
128:Commissioner of Internal Revenue
1179:Arthur administration personnel
808:"John Jay Knox on the Currency"
1174:Hayes administration personnel
1169:Grant administration personnel
723:. E.O. Jenkins. 1873. p.
631:Fairbanks, Mary Mason (1898).
385:U.S. Secretary of the Treasury
312:, today a part of the town of
1:
1164:People from Augusta, New York
503:Texas and Pacific Oil Company
316:. He was a son of Sarah Ann (
1159:New York (state) Republicans
1086:Comptroller of the Currency
666:New-York Historical Society
447:Comptroller of the Currency
63:Comptroller of the Currency
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1129:American economics writers
443:President Ulysses S. Grant
393:Hunt's Merchants' Magazine
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891:University, Yale (1921).
496:L.F. Rothschild & Co.
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39:
750:banknotehistory.spmc.org
637:. Mrs. R. Sage. p.
363:In 1857, shortly before
775:George G. Evans (ed.),
296:of the Series of 1902.
252:Caroline Elizabeth Todd
47:Photograph of Knox, by
474:Bank of the Metropolis
412:
380:
410:
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349:Binghamton, New York
953:. February 11, 1892
872:. 25 September 1921
604:"Mr. John Jay Knox"
451:Rutherford B. Hayes
437:Coinage Act of 1873
397:Treasury Department
294:national bank notes
283:Coinage Act of 1873
88:Rutherford B. Hayes
1071:Political offices
1034:The New York Times
1009:. 13 February 1892
1006:The New York Times
981:. 14 February 1892
978:The New York Times
950:The New York Times
922:The New York Times
869:The New York Times
864:"DIED : KNOX"
841:The New York Times
816:. 11 February 1890
813:The New York Times
668:. 1951. p. 68
612:. 10 February 1892
609:The New York Times
421:San Francisco Mint
417:American Civil War
413:
381:
345:Syracuse, New York
27:American financier
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1093:Succeeded by
1079:Hiland R. Hulburd
1059:John Jay Knox Jr.
793:"John Jay Knox,"
701:"John Jay Knox,"
511:Oak Hill Cemetery
455:Chester A. Arthur
445:promoted Knox to
403:Government career
353:Norfolk, Virginia
329:Clinton, New York
275:John Jay Knox Jr.
272:
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238:Oak Hill Cemetery
149:Chester A. Arthur
108:Hiland R. Hulburd
96:Chester A. Arthur
34:John Jay Knox Jr.
16:(Redirected from
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188:Personal details
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1063:Find a Grave
1039:. Retrieved
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836:"Died: KNOX"
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222:(1892-02-09)
178:Walter Evans
173:Succeeded by
135:
115:Succeeded by
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49:Mathew Brady
46:
1119:1892 deaths
1114:1828 births
156:Preceded by
103:Preceded by
1108:Categories
1090:1872–1884
755:2023-05-28
560:References
492:University
300:Early life
258:Alma mater
199:1828-03-19
457:in 1882.
399:in 1863.
365:Minnesota
279:financier
145:President
136:In office
80:President
71:In office
1041:26 March
1013:26 March
985:26 March
957:26 March
929:26 March
901:26 March
876:26 March
848:26 March
820:26 March
730:26 March
672:26 March
644:26 March
616:26 March
369:St. Paul
310:New York
306:Knoxboro
210:New York
206:Knoxboro
162:(acting)
797:pg. 16.
580:irs.gov
314:Augusta
126:Acting
1029:"DIED"
945:"DIED"
341:teller
335:Career
249:Spouse
244:, U.S.
212:, U.S.
576:(PDF)
521:Works
1043:2020
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987:2020
959:2020
931:2020
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