Jesse
Holman Jones, the son of a tobacco farmer, was born on 5th April,
1874. He worked on his father's farm until moving to Dallas at the
age of 19, where he managed his uncle's lumberyard.
In
1898 Jones moved to Houston and started his own business, the South
Texas Lumber Company. Later he began building and selling houses.
In 1907 he built the ten-story Texas Company Building (Texaco) and
the seven-story Bristol Hotel. Jones also constructed the Chronicle
Building for the newspaper, The Houston Chronicle.
This was followed by the Rice Hotel and three ten-floor office buildings
in Main Street.
As
well as being chairman of the Texas Trust Company Jones was also President
of the National Bank of Commerce. Jones also became a leading shareholder
in the Humble Oil and Refining Company and the Houston Ship Canal.
During
the First World War President Woodrow
Wilson persuaded Jones to become Director General for Military
Relief for the American Red Cross. In this post he organized hospitals,
canteens and ambulance networks throughout Europe. At the end of the
war Jones helped to establish the Red Cross
as a permanent worldwide relief organization.
A
member of the Democratic Party, Jones
became director of finance for the Democratic National Committee.
In 1926 he became the sole owner of The Houston
Chronicle.
In
1931 President Herbert Hoover appointed
Jones to the Reconstruction Finance Corporation (RFC). When Franklin
D. Roosevelt took power he appointed Jones as chairman of the
RFC. This became a crucial post in Roosevelt's New
Deal policies and Jones had the responsibility of directing billions
of dollars to help support American industry. Such was his power that
Jones was described as a "fourth branch of government".
Jones
worked closely with John Nance Garner.
The men were both right-wing conservatives and did not always approve
of Roosevelt's more progressive policies. However, Jones helped to
finance many public works programs. Jones also took control of the
Federal Loan Agency, the Federal Housing Authority and the Home Owners
Loan Corporation.
In
1940 Jones became Secretary of Commerce. However, he retained his
post as Federal Loan Administrator. Congress granted Jones and the
Reconstruction Finance Corporation the power to distribute funds in
order to prepare for war. This included the creation of the Defense
Plant Corporation and the Defense Supplies Corporation. During the
Second World War Jones was responsible for the
spending of 20 billion dollars.
In
January 1944 Franklin D. Roosevelt
became suspicious of Jones activities and replaced him with the more
left-wing Henry Wallace. Jones now returned
to Houston where he became a key member of the Suite
8F Group. The name came from the room in the Lamar Hotel in Houston
where they held their meetings. Members of the group included Lyndon
B. Johnson,
George Brown and Herman
Brown (Brown & Root), Gus Wortham
(American General Insurance Company), James
Abercrombie (Cameron Iron Works), William
Hobby (Governor of Texas), William Vinson
(Great Southern Life Insurance), James Elkins
(American General Insurance and Pure Oil Pipe Line) and John
Connally (Governor of Texas). Alvin Wirtz
and Edward Clark, were also members of
the Suite 8F Group.
Jesse Holman Jones died
on 1st June, 1956.
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