District Governors of the Federal Reserve System

This photograph taken in 1914 shows the governors (a position later renamed president) of the district banks in the newly established Federal Reserve System. There were twelve districts established in the country, but only ten are represented here—the heads of the banks in Chicago and Saint Louis not being included. The governors in the front row, from left to right, are E. R. Francher, from the Cleveland bank; George J. Seay, from the Richmond bank; Joseph A. McCord, from the Atlanta bank; Theodore Wold, from the Minneapolis bank; and Charles M. Sawyer, from the Kansas City bank. In the back row, from left to right, are Charles J. Rhoads, from the Philadelphia bank; Oscar Wells, from the Dallas bank; Alfred A. Aiken, from the Boston bank; Benjamin Strong, from the New York bank; and Archibald Kains, from the San Francisco bank.