Gage, Lyman Judson, 1836–1927, American banker and cabinet member, b. Madison co., N.Y. He moved to Chicago in 1855 and from 1868 was associated with the First National Bank of Chicago, of which he became (1891) president. Gage supported William McKinley for President against William Jennings Bryan and became (1897) President McKinley's Secretary of the Treasury. He won public approval for his conduct of fiscal affairs during the Spanish-American War and helped secure passage of the act establishing the gold standard in 1900. He resigned in 1902 after serving briefly under President Theodore Roosevelt.
The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.