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1、9-406-029REV:AUGUST16,2011NITINNOHRIAANTHONYJ.MAYOBRIDGETGURTLERJesseHolmanJonesandtheReconstructionFinanceCorporationJonesisregardedasoneofthemostinfluentialmeninrevivingtheAmericaneconomyduringtheGreatDepressionofthe1930s.Withonlyaneighth-gradeeducation,1herosetothetopofthebanking,realestate,
2、andlumberindustriesaswellastheupperechelonsofpoliticsastheheadoftheReconstructionFinanceCorporation(RFC)andasSecretaryofCommerce.Inaddition,heservedasdirectorgeneralofMilitaryRelieffortheAmericanRedCrossduringWorldWarI.Hewasresponsibleforthetransformationofhisadoptedcity,Houston,Texas,intothemo
3、stimportantcityforinternationalcommerceintheSouth.ArthurKrock,WashingtoncolumnistofTheNewYorkTimes,statedin1954that“JesseH.Jones...didmorethananyotherFederaladministratorduringtheNewDealtoemployataprofittheresourcesoftheGovernmentforthepreservationofthecapitalistsystemwhilerestrictingthemfromst
4、iflingtheenterpriseoftheindividual.”2Thoughhislegacyhasbeenovershadowedbymanyothers,Joneswasconsidered,afterFranklinD.Roosevelt,thesinglemostinfluentialandpowerfulmanduringtheDepression(seeExhibit1fortimeline).HisEarlyLifeJesseHolmanJoneswasthefourthoffivechildrenborntoWilliamHasqueJonesandhisw
5、ife,AnneHolmanonApril5,1874.HisfirstyearswerespentonthefamilytobaccofarminRobertsonCounty,Tennessee,primarilywithhisfather,ashismotherdiedwhenhewasonlysix.William’ssister,Nancy,aConfederatewidow,waslivingintheJonesfamilyhomewithhertwochildrenandsteppedintotheroleofmotherforJonesandhisfoursiblin
6、gs.Joneshelpedoutaroundthe100-acrefarm,feedingthestock,replenishingtheever-neededwoodforthewoodpile,andsupportinghisauntwithavarietyofhouseholdtasks.Heattendedschoolinaone-roomlogcabinwhereneighborhoodchildrenofallageswereinstructed.1Joneshadalwaysfeltthelackofhisshort-livedpubliceducationandwa
7、sdeterminedtomakeadifferenceinyoungpeoples’livessotheywouldhaveopportunitieshedidnot.Alongwithhiswife,JessefoundedtheHoustonEndowmentin1937.Hesupportednumerousscholarshipprogramsandhelpedover4,000studentsreceivetheirdegreebythetim
