Men of Mark in America/Volume 1/Milton E. Ailes

MILTON EVERETT AILES

 

MILTON EVERETT AILES, financier, banker, was born in .Shelby county, Ohio, on August 19, 1867. He was graduated from the high school at Sidney, Ohio, and when barely twenty years old entered the Government service at Washington, District of Columbia, in an obscure position in the internal revenue bureau. He subsequently passed through the grades of the civil service, in the treasury department, having filled each office with credit. Shortly after his first appointment in that department he began the study of law at the National university law school, where he was graduated, afterward receiving the master's degree in law, and was admitted to the Washington bar in 1890. Within a few months he was invited to become law clerk of the miscellaneous division of the department. After winning high esteem in that capacity he was called to a desk in the customs bureau, where he served several years. His next advancement occurred in the early part of President McKinley's first term when he was appointed private secretary to Assistant Secretary of the Treasury Wike. His executive ability soon won the attention of Honorable Lyman J. Gage, then head of the treasury department, and when Mr. Vanderlip was made assistant secretary, Mr. Ailes was named to be his successor as private secretary to the secretary of the treasury. Financiers and others having dealings with Secretary Gage and the department found Mr. Ailes an intelligent, responsible intermediary', and his valuable work in this position insured him prompt promotion. When the office of assistant secretary of the treasury was made vacant by the resignation of Mr. Vanderlip on February 26, 1901, Mr. Ailes was at once designated his successor, being one of the youngest men who ever held such a position under the Government. The confidence placed in him by his superiors had been earned by fourteen years of diligent work, close application and untiring energy. In 1903 he resigned from his post in the treasury department and left the departmental service to become vice-president of the Riggs National Bank of Washington, and has since devoted his energies and experience in fiscal affairs to this well known financial institution.

He is a thorough student of finance, both theoretical and practical, and has contributed articles to various newspapers and magazines. While connected with the Government service he represented the department on several important commissions, both in the United States and abroad. He is a member of the National Geographic Society, and assistant secretary and treasurer of the Washington Economic Society.

On November 25, 1891, Mr. Ailes was married to Miss Mary E. Gowans, of Washington, District of Columbia.