William

Biodata

Feature	Value
Name	William Woodin
Gender	Male
Affiliation	Roosevelt administration; United States Treasury Department
Occupation/Role	Secretary of the Treasury
First Appearance	7

Background / History

William Woodin enters the Roosevelt transition team as the incoming Treasury Secretary amid a nationwide banking collapse. During the emergency cabinet meeting, he identifies the Detroit-based United Guardian Trust Company crisis as the starting point of the panic. 7

A veteran of the banking world with influence on Capitol Hill and longstanding Wall Street connections, William brings substantial institutional credibility to Roosevelt's administration. His age and poor health, however, leave him severely strained by the Emergency Banking Act campaign. 26 34

Personality

William is skeptical, technically minded, and professionally candid. He challenges Feilan's banking-crisis prediction through specific objections about gold reserves and commercial-paper rates, but accepts Feilan's arguments when they prove stronger than his own. 9 10 11

He is deeply duty-bound despite exhaustion. After helping pass the Emergency Banking Act, he considers resigning because the work has pushed him to his limits; he ultimately agrees to remain for another three months so that his prestige can support the next round of banking reforms. 31 34 35

Abilities & Skills

Financial Analysis

William is regarded as one of the country's foremost financial experts and scrutinizes Feilan's predictions through economic fundamentals, credit-market data, and banking conditions. 9

• Questions whether commercial-paper movements necessarily indicate an interbank collapse. 9
• Recognizes the severity of the banking system's deeper structural problems after the nationwide screening. 33
• Initially struggles to match Feilan's historical analysis and proposed legislative framework. 10 11

Treasury Leadership

As Treasury Secretary, William coordinates key personnel and provides official oversight during the Emergency Banking Act's drafting, passage, and implementation. 11 27 28

• Approves Arthur Ballantine's retention as Assistant Secretary of the Treasury. 11
• Reviews the finalized Emergency Banking Act before ordering its immediate printing and processing. 27
• Receives and archives the signed official text after Roosevelt signs the Act. 28
• Works with Feilan and Ballantine to report the actual condition of the banking system to Roosevelt. 33

Political and Institutional Influence

William's stature gives the administration leverage beyond Feilan and Ballantine's technical ability. Feilan considers his banking reputation, congressional connections, and Wall Street relationships irreplaceable during the planned reform campaign. 34

• Offers Feilan a three-month extension in his government position. 35
• Remains in office after initially seeking retirement, helping keep the Treasury stable during the reform effort. 34 35
• Is identified by Feilan as having ties to the Morgan family's “Priority List,” though Roosevelt continues to trust his judgment at critical moments. 26

Relationships

• Franklin D. Roosevelt — Serves as Roosevelt's Treasury Secretary and participates in the administration's emergency banking response; Roosevelt publicly recognizes his work and trusts him despite his Wall Street entanglements. 26 31
• Feilan Roosevelt — Initially challenges Feilan's crisis analysis, then becomes impressed by his expertise and accepts his recommendations. Feilan later persuades William to remain Treasury Secretary for three additional months. 9 11 34 35
• Arthur Ballantine — Works alongside William on the Emergency Banking Act, bank screening, and later reports on the banks' deeper problems. 11 27 33
• Morgan Family — Feilan identifies William as one of the influential figures connected to the Morgan family's preferential-share network. 26

Story Role / Major Arcs

Banking Crisis and the Emergency Banking Act

William begins as a skeptical member of Roosevelt's incoming cabinet, questioning Feilan's claim that the banking system would collapse. Feilan's historical analysis and detailed emergency plan gradually win William's acceptance. 9 10 11

He becomes a central Treasury figure in the drafting process, helping assemble experts, review the final bill, and move the Emergency Banking Act through the emergency legislative process. 11 27 28

Bank Reopening

Following the Act's passage, William supports the nationwide bank-review operation and is publicly praised by Roosevelt for refusing to collapse before every bank had reopened. 29 31

During the Treasury celebration, Feilan jokingly asks William for compensation for his work, prompting laughter from William and Roosevelt alike. 32

Proposed Banking Reforms

After the immediate crisis, William, Feilan, and Ballantine report that the banking system remains fundamentally compromised. William is initially hesitant about Feilan's proposals for banking–securities separation, deposit insurance, holding-company regulation, and mandatory disclosure. 33 34

Exhausted and intending to resign, William is convinced by Feilan to remain for three more months and lend his influence to the reform effort. 34 35

Notable Quotes

“Feilan, if you weren't so young, I think you might be the most suitable candidate for Treasury Secretary at present.” 34

“Fine. Since you're so confident, what's another three months in this position!” 35