John Jay Knox

John Jay Knox

John Jay Knox (1828 - 1892) was an American financier, born in Knoxboro, New York. He graduated at Hamilton College in 1849 and entered the banking business.

He was a vigorous supporter of the national banking plan of Treasuary Secretary Salmon P. Chase. He was given a position in the Treasury Department in 1866, serving as Deputy Comptroller of the Treasury from 1867-1872. From 1872 to 1884 he held the position of Comptroller of the Treasury. In 1872 he resigned in order to become president of the National Bank of the Republic, New York City, which position he held until his death.

In 1870 he prepared a bill codifying the mint and coinage laws. The bill (H.R. 2934) was transmitted to the Congress by Secretary Boutwell and with a few amendments was signed into law by President Grant on February 12 1873. This was the famous Coinage Act of 1873, which dropped the silver dollar from coinage. Knox was the author of "United States Notes" (New York, 1887).


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