W. Averell Harriman

William Averell Harriman (November 15, 1891 – July 26, 1986) was an American businessman and public servant who held several high‑profile positions in the federal government during the mid‑20th century. He is best known for serving as United States Secretary of Commerce from 1946 to 1948 under President Harry S. Truman, a role that placed him at the center of postwar economic policy and international trade initiatives. Prior to his cabinet appointment, Harriman had built a prominent banking career, participated in New Deal agencies, and served as a key foreign‑policy advisor during World War II. After leaving the Commerce Department he went on to become Governor of New York, sought the Democratic presidential nomination twice, and continued to influence U.S. policy through advisory roles until his death in 1986.

Early life and career

Harriman was born in New York City to railroad magnate Edward Henry Harriman and Mary Williamson Averell. The elder Harriman had built a vast transportation empire that included the Union Pacific Railroad, and his wealth provided the young Harriman with both financial resources and an extensive network of business contacts. He attended Groton School in Massachusetts before enrolling at Yale University, where he graduated in 1913. While at Yale, he joined the secret society Skull and Bones and the fraternity Psi Upsilon, forging friendships that would later prove influential in his political life.

Following his graduation, Harriman inherited a substantial fortune after his father's death in 1909. He used this capital to establish W.A. Harriman & Co., a banking firm founded in 1922. The business expanded when his brother Roland joined the partnership in 1927, prompting a name change to Harriman Brothers & Company. In 1931 the firm merged with Brown Bros. & Co., resulting in the creation of Brown Brothers Harriman & Co., one of Wall Street’s most enduring investment banks. Throughout the 1930s and 1940s, Harriman maintained significant holdings in transportation and manufacturing enterprises, including the Union Pacific Railroad, Merchant Shipping Corporation, and Polaroid Corporation. His portfolio also encompassed interests in railroads such as the Southern Pacific and Illinois Central, financial institutions like Wells Fargo & Co., and shipping lines including the American Hawaiian Steamship Company.

Harriman’s business acumen was complemented by a growing interest in public service. The death of his sister Mary Rumsey encouraged him to leave the private sector temporarily and collaborate with her circle of friends, which included members of the Roosevelt family. He joined the National Recovery Administration (NRA), a New Deal agency aimed at revitalizing the American economy through price controls and industry standards. His experience in business made him an asset to the NRA’s efforts to coordinate industrial production during the Great Depression.

During World War II, Harriman’s expertise was called upon by President Franklin D. Roosevelt. He helped orchestrate the Lend‑Lease program that supplied Allied nations with war material, and he served as Roosevelt’s personal envoy to the United Kingdom. Subsequently, he was appointed ambassador to the Soviet Union, where he worked closely with Soviet officials during a critical period of alliance building. Harriman also attended major wartime conferences, contributing to discussions on postwar reconstruction and international cooperation.

After the war, Harriman became an advocate for George F. Kennan’s containment strategy toward the Soviet bloc. He played a role in coordinating the implementation of the Marshall Plan, which provided economic aid to rebuild Western Europe. These experiences positioned him as a seasoned diplomat and policy adviser, setting the stage for his later appointment to the federal cabinet.

Cabinet tenure

In 1946 President Harry S. Truman appointed Harriman as United States Secretary of Commerce, succeeding Joseph C. Stokes. The Senate confirmed Harriman’s nomination; while the exact vote tally is not recorded in the available sources, the confirmation was completed without controversy. As secretary, Harriman presided over the Department of Commerce during a pivotal period of postwar economic adjustment. His tenure coincided with efforts to transition the United States from wartime production to peacetime commerce and to expand international trade relationships.

Harriman’s background in finance and industry informed his approach to commerce policy. He was involved in the coordination of the Marshall Plan, ensuring that American commercial interests were aligned with the broader goal of European recovery. The Department of Commerce under his leadership also worked on initiatives aimed at promoting U.S. exports and fostering industrial growth within the United States. Harriman’s experience as a former ambassador to the Soviet Union provided him with insights into managing trade relations in a rapidly changing geopolitical environment.

During his time in office, Harriman maintained close collaboration with other members of the Truman administration, including the Secretary of State and the Treasury Department, to develop cohesive economic policies that supported both domestic stability and international cooperation. He oversaw the department’s efforts to streamline regulatory processes for businesses and to enhance the United States’ competitive position in global markets.

Harriman served as Secretary of Commerce until 1948, when he was succeeded by John S. Miller. His departure from the cabinet marked the end of a brief but influential period during which he helped shape postwar economic policy at the highest levels of government.

Legacy

William Averell Harriman’s career spanned business, diplomacy, and public service, leaving a multifaceted legacy that influenced American economic and foreign‑policy directions in the mid‑20th century. His leadership of Brown Brothers Harriman & Co. helped cement the firm’s reputation as a major player on Wall Street, while his stewardship of the Department of Commerce contributed to the United States’ transition from wartime production to peacetime prosperity.

After leaving the cabinet, Harriman continued to play an active role in national politics. He was elected Governor of New York in 1954, serving one term before being defeated in 1958 by Nelson Rockefeller. Although he sought the Democratic presidential nomination twice—first at the 1952 convention and again in 1956—he did not secure the party’s endorsement on either occasion.

In subsequent decades, Harriman remained a respected voice on foreign‑policy matters. He helped negotiate the Partial Nuclear Test Ban Treaty during President John F. Kennedy’s administration and was involved in shaping U.S. strategy regarding Vietnam under President Lyndon B. Johnson. His expertise also extended to broader global issues; he became affiliated with organizations such as the Club of Rome and the Council on Foreign Relations, where he contributed to discussions on international economics and security.

Harriman passed away on July 26, 1986, at the age of 94. He is remembered for his contributions to American business, his service in key government positions during a transformative era, and his continued engagement with national and international policy debates well into his later years. His life exemplifies the intersection of private enterprise experience and public‑service commitment that characterized many mid‑century American leaders.