Lon Vest Stephens
Encyclopedia
Lawrence "Lon" Vest Stephens (December 21, 1858 – January 10, 1923) was a U.S. politician from Missouri
. He served as State Treasurer of Missouri
from 1890 to 1897, and as the 29th Governor of Missouri from 1897 to 1901.
to Joseph L. and Martha (Gibson) Stephens. His father was descended from Scotch ancestry, which founded families in Virginia and North Carolina in Colonial days, and his paternal grandparents came to Missouri from the "Old Dominion" at an early period, locating in Cooper County
. Joseph Stephens, who was born there, became distinguished as a lawyer, financier and railroad builder
Stephens studied first in the public schools of Boonville, and then for three years at the Cooper Institute, and three years at the Kemper Family school
of the same town. During the intervals of his student life acquired a knowledge of printing and telegraphy, besides working as a bank messenger, bookkeeper and teller. He studied for one year at Washington and Lee University
in Lexington, Virginia
, and there became interested in finance and economics. After completing his education traveled extensively in Europe.
of the Fifth National Bank, of St. Louis. Its affairs were convoluted, and experienced financiers doubted the ability of so young a man to master so difficult a task. He succeeded in closing up the affairs of the bank in a brief time, the depositors receiving 96 per cent upon their accounts, when only 33 1–3 per cent was expected, and the achievement at once gave him high standing in financial circles.
Stephens thereafter was paymaster-general on the staff of Governor David R. Francis
. His success with the Fifth National Bank contributed materially to his appointment, in March, 1890, by Governor Francis, to the position of State treasurer, to fill the unexpired term of Edward T. Noland
. The affairs of the treasury were in poor condition, and the credit of the State was imperiled. The appointment of Stephens met with general approval, and the state's finances were within two years re-established upon a sound basis
In 1892 the Democratic State convention nominated him to the position on the first ballot, and he won the general election by a plurality of more than 40,000 votes. During the four years following, the free silver question became the dominant issue in politics. Although he remained an officer in a national bank during the campaigns of 1894–6, Stephens took up the cause of bimetallism
, contributing both money and time to the support of the silver standard. For over two years he contributed to the Boonville Advertiser a series of weekly articles upon the subject, under the caption, "Silver Nuggets", which were republished in many of the Democratic papers of the State, and in pamphlet form, and distributed, under the direction of the State Democratic central committee.
movement, and he supported the state university and other State schools, as well as the penal and eleemosynary institutions. Under his administration, the State penitentiary was made not only self-sustaining, but a source of revenue to the State. The three existing insane asylums being filled to capacity, he supported bills establishing a new asylum in the southwest, and a colony for the feebleminded. He successfully pushed for legislation providing for a State fair to be held under the auspices of the State Board of Agriculture, and laid the groundwork for Missouri to host the 1904 Louisiana Purchase Exposition
.
Stephens also strongly supported progressive taxation, arguing to increase the taxation of wealthy corporations in proportion to their real value, in order that to reduce the burden on farmers and small property holders. During the two sessions of the Thirty-ninth and Fortieth General Assemblies, he advocated the passage of laws taxing franchises, and upon learning that his efforts might prove unavailing, he transmitted a special message upon the subject. He was also instrumental in the passage of laws to check trusts in their encroachments upon smaller industries. He devoted much of his political energy to the support of William Jennings Bryan
in the 1900 presidential election
, and is largely credited with Bryan's substantial victory in Missouri. One of his speeches, entitled, "Why I am a Democrat," made during a political canvass, was extensively copied by the press of the country.
.
Lawrence "Lon" Vest Stephens (December 21, 1858 – January 10, 1923) was a U.S. politician from Missouri
. He served as State Treasurer of Missouri
from 1890 to 1897, and as the 29th Governor of Missouri from 1897 to 1901.
to Joseph L. and Martha (Gibson) Stephens. His father was descended from Scotch ancestry, which founded families in Virginia and North Carolina in Colonial days, and his paternal grandparents came to Missouri from the "Old Dominion" at an early period, locating in Cooper County
. Joseph Stephens, who was born there, became distinguished as a lawyer, financier and railroad builder
Stephens studied first in the public schools of Boonville, and then for three years at the Cooper Institute, and three years at the Kemper Family school
of the same town. During the intervals of his student life acquired a knowledge of printing and telegraphy, besides working as a bank messenger, bookkeeper and teller. He studied for one year at Washington and Lee University
in Lexington, Virginia
, and there became interested in finance and economics. After completing his education traveled extensively in Europe.
of the Fifth National Bank, of St. Louis. Its affairs were convoluted, and experienced financiers doubted the ability of so young a man to master so difficult a task. He succeeded in closing up the affairs of the bank in a brief time, the depositors receiving 96 per cent upon their accounts, when only 33 1–3 per cent was expected, and the achievement at once gave him high standing in financial circles.
Stephens thereafter was paymaster-general on the staff of Governor David R. Francis
. His success with the Fifth National Bank contributed materially to his appointment, in March, 1890, by Governor Francis, to the position of State treasurer, to fill the unexpired term of Edward T. Noland
. The affairs of the treasury were in poor condition, and the credit of the State was imperiled. The appointment of Stephens met with general approval, and the state's finances were within two years re-established upon a sound basis
In 1892 the Democratic State convention nominated him to the position on the first ballot, and he won the general election by a plurality of more than 40,000 votes. During the four years following, the free silver question became the dominant issue in politics. Although he remained an officer in a national bank during the campaigns of 1894–6, Stephens took up the cause of bimetallism
, contributing both money and time to the support of the silver standard. For over two years he contributed to the Boonville Advertiser a series of weekly articles upon the subject, under the caption, "Silver Nuggets", which were republished in many of the Democratic papers of the State, and in pamphlet form, and distributed, under the direction of the State Democratic central committee.
movement, and he supported the state university and other State schools, as well as the penal and eleemosynary institutions. Under his administration, the State penitentiary was made not only self-sustaining, but a source of revenue to the State. The three existing insane asylums being filled to capacity, he supported bills establishing a new asylum in the southwest, and a colony for the feebleminded. He successfully pushed for legislation providing for a State fair to be held under the auspices of the State Board of Agriculture, and laid the groundwork for Missouri to host the 1904 Louisiana Purchase Exposition
.
Stephens also strongly supported progressive taxation, arguing to increase the taxation of wealthy corporations in proportion to their real value, in order that to reduce the burden on farmers and small property holders. During the two sessions of the Thirty-ninth and Fortieth General Assemblies, he advocated the passage of laws taxing franchises, and upon learning that his efforts might prove unavailing, he transmitted a special message upon the subject. He was also instrumental in the passage of laws to check trusts in their encroachments upon smaller industries. He devoted much of his political energy to the support of William Jennings Bryan
in the 1900 presidential election
, and is largely credited with Bryan's substantial victory in Missouri. One of his speeches, entitled, "Why I am a Democrat," made during a political canvass, was extensively copied by the press of the country.
.
Lawrence "Lon" Vest Stephens (December 21, 1858 – January 10, 1923) was a U.S. politician from Missouri
. He served as State Treasurer of Missouri
from 1890 to 1897, and as the 29th Governor of Missouri from 1897 to 1901.
to Joseph L. and Martha (Gibson) Stephens. His father was descended from Scotch ancestry, which founded families in Virginia and North Carolina in Colonial days, and his paternal grandparents came to Missouri from the "Old Dominion" at an early period, locating in Cooper County
. Joseph Stephens, who was born there, became distinguished as a lawyer, financier and railroad builder
Stephens studied first in the public schools of Boonville, and then for three years at the Cooper Institute, and three years at the Kemper Family school
of the same town. During the intervals of his student life acquired a knowledge of printing and telegraphy, besides working as a bank messenger, bookkeeper and teller. He studied for one year at Washington and Lee University
in Lexington, Virginia
, and there became interested in finance and economics. After completing his education traveled extensively in Europe.
of the Fifth National Bank, of St. Louis. Its affairs were convoluted, and experienced financiers doubted the ability of so young a man to master so difficult a task. He succeeded in closing up the affairs of the bank in a brief time, the depositors receiving 96 per cent upon their accounts, when only 33 1–3 per cent was expected, and the achievement at once gave him high standing in financial circles.
Stephens thereafter was paymaster-general on the staff of Governor David R. Francis
. His success with the Fifth National Bank contributed materially to his appointment, in March, 1890, by Governor Francis, to the position of State treasurer, to fill the unexpired term of Edward T. Noland
. The affairs of the treasury were in poor condition, and the credit of the State was imperiled. The appointment of Stephens met with general approval, and the state's finances were within two years re-established upon a sound basis
In 1892 the Democratic State convention nominated him to the position on the first ballot, and he won the general election by a plurality of more than 40,000 votes. During the four years following, the free silver question became the dominant issue in politics. Although he remained an officer in a national bank during the campaigns of 1894–6, Stephens took up the cause of bimetallism
, contributing both money and time to the support of the silver standard. For over two years he contributed to the Boonville Advertiser a series of weekly articles upon the subject, under the caption, "Silver Nuggets", which were republished in many of the Democratic papers of the State, and in pamphlet form, and distributed, under the direction of the State Democratic central committee.
movement, and he supported the state university and other State schools, as well as the penal and eleemosynary institutions. Under his administration, the State penitentiary was made not only self-sustaining, but a source of revenue to the State. The three existing insane asylums being filled to capacity, he supported bills establishing a new asylum in the southwest, and a colony for the feebleminded. He successfully pushed for legislation providing for a State fair to be held under the auspices of the State Board of Agriculture, and laid the groundwork for Missouri to host the 1904 Louisiana Purchase Exposition
.
Stephens also strongly supported progressive taxation, arguing to increase the taxation of wealthy corporations in proportion to their real value, in order that to reduce the burden on farmers and small property holders. During the two sessions of the Thirty-ninth and Fortieth General Assemblies, he advocated the passage of laws taxing franchises, and upon learning that his efforts might prove unavailing, he transmitted a special message upon the subject. He was also instrumental in the passage of laws to check trusts in their encroachments upon smaller industries. He devoted much of his political energy to the support of William Jennings Bryan
in the 1900 presidential election
, and is largely credited with Bryan's substantial victory in Missouri. One of his speeches, entitled, "Why I am a Democrat," made during a political canvass, was extensively copied by the press of the country.
.
Missouri
Missouri is a US state located in the Midwestern United States, bordered by Iowa, Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas and Nebraska. With a 2010 population of 5,988,927, Missouri is the 18th most populous state in the nation and the fifth most populous in the Midwest. It...
. He served as State Treasurer of Missouri
State Treasurer of Missouri
The State Treasurer of Missouri is a statewide elected official responsible for serving as Missouri's chief financial officer. The current State Treasurer is Clint Zweifel.-Duties of the State Treasurer:...
from 1890 to 1897, and as the 29th Governor of Missouri from 1897 to 1901.
Early life and education
Stephens was born in Boonville, MissouriBoonville, Missouri
This page is about the city in Missouri. For other communities of the same name, see Boonville Boonville is a city in Cooper County, Missouri, USA. The population was 8,202 at the 2000 census. It is the county seat of Cooper County. The city was the site of a skirmish early in the American Civil...
to Joseph L. and Martha (Gibson) Stephens. His father was descended from Scotch ancestry, which founded families in Virginia and North Carolina in Colonial days, and his paternal grandparents came to Missouri from the "Old Dominion" at an early period, locating in Cooper County
Cooper County, Missouri
Cooper County is a county located in the U.S. state of Missouri. In 2010, the population was 17,601. Its county seat is Boonville. The county was organized in 1818 and is named for Sarshall Cooper, a frontier settler who was killed by Indians near Arrow Rock in 1814.-Geography:According to the 2000...
. Joseph Stephens, who was born there, became distinguished as a lawyer, financier and railroad builder
Stephens studied first in the public schools of Boonville, and then for three years at the Cooper Institute, and three years at the Kemper Family school
Kemper Military School
Kemper Military School & College was a private military school located in Boonville, Missouri. Kemper filed for bankruptcy and closed in 2002. The school's motto was "Nunquam Non Paratus" .-Early years under Frederick T. Kemper:...
of the same town. During the intervals of his student life acquired a knowledge of printing and telegraphy, besides working as a bank messenger, bookkeeper and teller. He studied for one year at Washington and Lee University
Washington and Lee University
Washington and Lee University is a private liberal arts college in Lexington, Virginia, United States.The classical school from which Washington and Lee descended was established in 1749 as Augusta Academy, about north of its present location. In 1776 it was renamed Liberty Hall in a burst of...
in Lexington, Virginia
Lexington, Virginia
Lexington is an independent city within the confines of Rockbridge County in the Commonwealth of Virginia. The population was 7,042 in 2010. Lexington is about 55 minutes east of the West Virginia border and is about 50 miles north of Roanoke, Virginia. It was first settled in 1777.It is home to...
, and there became interested in finance and economics. After completing his education traveled extensively in Europe.
Career
Returning home, Stephens entered the Central National Bank, of Boonville, management by his father, and became director, assistant cashier and vice president. During his connection with this institution he and his brother, W. Speed Stephens, funded the debts of various counties in central Missouri. Stephens was also involved in politics, acting as an aide-de-camp on the staff of Governor John Marmaduke. In 1887, at the age of twenty-nine, he was appointed by the comptroller of the currency as receiverReceivership
In law, receivership is the situation in which an institution or enterprise is being held by a receiver, a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights." The receivership remedy is an equitable remedy that emerged in...
of the Fifth National Bank, of St. Louis. Its affairs were convoluted, and experienced financiers doubted the ability of so young a man to master so difficult a task. He succeeded in closing up the affairs of the bank in a brief time, the depositors receiving 96 per cent upon their accounts, when only 33 1–3 per cent was expected, and the achievement at once gave him high standing in financial circles.
Stephens thereafter was paymaster-general on the staff of Governor David R. Francis
David R. Francis
David Rowland Francis was an American politician. He served in various positions including Mayor of Saint Louis, the 27th Governor of Missouri, and United States Secretary of the Interior. He was the U.S. Ambassador to Russia between 1916 and 1917, during the Russian Revolution of 1917...
. His success with the Fifth National Bank contributed materially to his appointment, in March, 1890, by Governor Francis, to the position of State treasurer, to fill the unexpired term of Edward T. Noland
Edward T. Noland
Edward T. Noland was an American politician. He served as the State Treasurer of Missouri from 1889 to 1890. -References:...
. The affairs of the treasury were in poor condition, and the credit of the State was imperiled. The appointment of Stephens met with general approval, and the state's finances were within two years re-established upon a sound basis
In 1892 the Democratic State convention nominated him to the position on the first ballot, and he won the general election by a plurality of more than 40,000 votes. During the four years following, the free silver question became the dominant issue in politics. Although he remained an officer in a national bank during the campaigns of 1894–6, Stephens took up the cause of bimetallism
Bimetallism
In economics, bimetallism is a monetary standard in which the value of the monetary unit is defined as equivalent both to a certain quantity of gold and to a certain quantity of silver; such a system establishes a fixed rate of exchange between the two metals...
, contributing both money and time to the support of the silver standard. For over two years he contributed to the Boonville Advertiser a series of weekly articles upon the subject, under the caption, "Silver Nuggets", which were republished in many of the Democratic papers of the State, and in pamphlet form, and distributed, under the direction of the State Democratic central committee.
Governor
In the 1895, Stephens was nominated for governor by acclamation, the first time that Missouri Democrats had done so. In the general election, he received a plurality of nearly 44,000 votes, running 10,000 votes ahead of the State ticket. As Governor, he was an outspoken supporter of the Free SilverFree Silver
Free Silver was an important United States political policy issue in the late 19th century and early 20th century. Its advocates were in favor of an inflationary monetary policy using the "free coinage of silver" as opposed to the less inflationary Gold Standard; its supporters were called...
movement, and he supported the state university and other State schools, as well as the penal and eleemosynary institutions. Under his administration, the State penitentiary was made not only self-sustaining, but a source of revenue to the State. The three existing insane asylums being filled to capacity, he supported bills establishing a new asylum in the southwest, and a colony for the feebleminded. He successfully pushed for legislation providing for a State fair to be held under the auspices of the State Board of Agriculture, and laid the groundwork for Missouri to host the 1904 Louisiana Purchase Exposition
Louisiana Purchase Exposition
The Louisiana Purchase Exposition, informally known as the Saint Louis World's Fair, was an international exposition held in St. Louis, Missouri, United States in 1904.- Background :...
.
Stephens also strongly supported progressive taxation, arguing to increase the taxation of wealthy corporations in proportion to their real value, in order that to reduce the burden on farmers and small property holders. During the two sessions of the Thirty-ninth and Fortieth General Assemblies, he advocated the passage of laws taxing franchises, and upon learning that his efforts might prove unavailing, he transmitted a special message upon the subject. He was also instrumental in the passage of laws to check trusts in their encroachments upon smaller industries. He devoted much of his political energy to the support of William Jennings Bryan
William Jennings Bryan
William Jennings Bryan was an American politician in the late-19th and early-20th centuries. He was a dominant force in the liberal wing of the Democratic Party, standing three times as its candidate for President of the United States...
in the 1900 presidential election
United States presidential election, 1900
The United States presidential election of 1900 was a re-match of the 1896 race between Republican President William McKinley and his Democratic challenger, William Jennings Bryan. The return of economic prosperity and recent victory in the Spanish–American War helped McKinley to score a decisive...
, and is largely credited with Bryan's substantial victory in Missouri. One of his speeches, entitled, "Why I am a Democrat," made during a political canvass, was extensively copied by the press of the country.
Personal life
Stephens married Margaret Nelson on October 5, 1880. With his wife, Stephens was a member of the Methodist Episcopal Church. He contributed liberally to the Central College, of Fayette, which named the "Stephens Scientific Hall" in his honor. After his term as governor, he returned to the banking business. He died in St. Louis, and was interred in Walnut Grove CemeteryWalnut Grove Cemetery
Walnut Grove Cemetery is a historic cemetery at Grove and Railroads Streets in Methuen, Massachusetts. The still active cemetery sits on and is privately funded with a Board of Directors....
.
External links
Lawrence "Lon" Vest Stephens (December 21, 1858 – January 10, 1923) was a U.S. politician from Missouri
Missouri
Missouri is a US state located in the Midwestern United States, bordered by Iowa, Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas and Nebraska. With a 2010 population of 5,988,927, Missouri is the 18th most populous state in the nation and the fifth most populous in the Midwest. It...
. He served as State Treasurer of Missouri
State Treasurer of Missouri
The State Treasurer of Missouri is a statewide elected official responsible for serving as Missouri's chief financial officer. The current State Treasurer is Clint Zweifel.-Duties of the State Treasurer:...
from 1890 to 1897, and as the 29th Governor of Missouri from 1897 to 1901.
Early life and education
Stephens was born in Boonville, MissouriBoonville, Missouri
This page is about the city in Missouri. For other communities of the same name, see Boonville Boonville is a city in Cooper County, Missouri, USA. The population was 8,202 at the 2000 census. It is the county seat of Cooper County. The city was the site of a skirmish early in the American Civil...
to Joseph L. and Martha (Gibson) Stephens. His father was descended from Scotch ancestry, which founded families in Virginia and North Carolina in Colonial days, and his paternal grandparents came to Missouri from the "Old Dominion" at an early period, locating in Cooper County
Cooper County, Missouri
Cooper County is a county located in the U.S. state of Missouri. In 2010, the population was 17,601. Its county seat is Boonville. The county was organized in 1818 and is named for Sarshall Cooper, a frontier settler who was killed by Indians near Arrow Rock in 1814.-Geography:According to the 2000...
. Joseph Stephens, who was born there, became distinguished as a lawyer, financier and railroad builder
Stephens studied first in the public schools of Boonville, and then for three years at the Cooper Institute, and three years at the Kemper Family school
Kemper Military School
Kemper Military School & College was a private military school located in Boonville, Missouri. Kemper filed for bankruptcy and closed in 2002. The school's motto was "Nunquam Non Paratus" .-Early years under Frederick T. Kemper:...
of the same town. During the intervals of his student life acquired a knowledge of printing and telegraphy, besides working as a bank messenger, bookkeeper and teller. He studied for one year at Washington and Lee University
Washington and Lee University
Washington and Lee University is a private liberal arts college in Lexington, Virginia, United States.The classical school from which Washington and Lee descended was established in 1749 as Augusta Academy, about north of its present location. In 1776 it was renamed Liberty Hall in a burst of...
in Lexington, Virginia
Lexington, Virginia
Lexington is an independent city within the confines of Rockbridge County in the Commonwealth of Virginia. The population was 7,042 in 2010. Lexington is about 55 minutes east of the West Virginia border and is about 50 miles north of Roanoke, Virginia. It was first settled in 1777.It is home to...
, and there became interested in finance and economics. After completing his education traveled extensively in Europe.
Career
Returning home, Stephens entered the Central National Bank, of Boonville, management by his father, and became director, assistant cashier and vice president. During his connection with this institution he and his brother, W. Speed Stephens, funded the debts of various counties in central Missouri. Stephens was also involved in politics, acting as an aide-de-camp on the staff of Governor John Marmaduke. In 1887, at the age of twenty-nine, he was appointed by the comptroller of the currency as receiverReceivership
In law, receivership is the situation in which an institution or enterprise is being held by a receiver, a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights." The receivership remedy is an equitable remedy that emerged in...
of the Fifth National Bank, of St. Louis. Its affairs were convoluted, and experienced financiers doubted the ability of so young a man to master so difficult a task. He succeeded in closing up the affairs of the bank in a brief time, the depositors receiving 96 per cent upon their accounts, when only 33 1–3 per cent was expected, and the achievement at once gave him high standing in financial circles.
Stephens thereafter was paymaster-general on the staff of Governor David R. Francis
David R. Francis
David Rowland Francis was an American politician. He served in various positions including Mayor of Saint Louis, the 27th Governor of Missouri, and United States Secretary of the Interior. He was the U.S. Ambassador to Russia between 1916 and 1917, during the Russian Revolution of 1917...
. His success with the Fifth National Bank contributed materially to his appointment, in March, 1890, by Governor Francis, to the position of State treasurer, to fill the unexpired term of Edward T. Noland
Edward T. Noland
Edward T. Noland was an American politician. He served as the State Treasurer of Missouri from 1889 to 1890. -References:...
. The affairs of the treasury were in poor condition, and the credit of the State was imperiled. The appointment of Stephens met with general approval, and the state's finances were within two years re-established upon a sound basis
In 1892 the Democratic State convention nominated him to the position on the first ballot, and he won the general election by a plurality of more than 40,000 votes. During the four years following, the free silver question became the dominant issue in politics. Although he remained an officer in a national bank during the campaigns of 1894–6, Stephens took up the cause of bimetallism
Bimetallism
In economics, bimetallism is a monetary standard in which the value of the monetary unit is defined as equivalent both to a certain quantity of gold and to a certain quantity of silver; such a system establishes a fixed rate of exchange between the two metals...
, contributing both money and time to the support of the silver standard. For over two years he contributed to the Boonville Advertiser a series of weekly articles upon the subject, under the caption, "Silver Nuggets", which were republished in many of the Democratic papers of the State, and in pamphlet form, and distributed, under the direction of the State Democratic central committee.
Governor
In the 1895, Stephens was nominated for governor by acclamation, the first time that Missouri Democrats had done so. In the general election, he received a plurality of nearly 44,000 votes, running 10,000 votes ahead of the State ticket. As Governor, he was an outspoken supporter of the Free SilverFree Silver
Free Silver was an important United States political policy issue in the late 19th century and early 20th century. Its advocates were in favor of an inflationary monetary policy using the "free coinage of silver" as opposed to the less inflationary Gold Standard; its supporters were called...
movement, and he supported the state university and other State schools, as well as the penal and eleemosynary institutions. Under his administration, the State penitentiary was made not only self-sustaining, but a source of revenue to the State. The three existing insane asylums being filled to capacity, he supported bills establishing a new asylum in the southwest, and a colony for the feebleminded. He successfully pushed for legislation providing for a State fair to be held under the auspices of the State Board of Agriculture, and laid the groundwork for Missouri to host the 1904 Louisiana Purchase Exposition
Louisiana Purchase Exposition
The Louisiana Purchase Exposition, informally known as the Saint Louis World's Fair, was an international exposition held in St. Louis, Missouri, United States in 1904.- Background :...
.
Stephens also strongly supported progressive taxation, arguing to increase the taxation of wealthy corporations in proportion to their real value, in order that to reduce the burden on farmers and small property holders. During the two sessions of the Thirty-ninth and Fortieth General Assemblies, he advocated the passage of laws taxing franchises, and upon learning that his efforts might prove unavailing, he transmitted a special message upon the subject. He was also instrumental in the passage of laws to check trusts in their encroachments upon smaller industries. He devoted much of his political energy to the support of William Jennings Bryan
William Jennings Bryan
William Jennings Bryan was an American politician in the late-19th and early-20th centuries. He was a dominant force in the liberal wing of the Democratic Party, standing three times as its candidate for President of the United States...
in the 1900 presidential election
United States presidential election, 1900
The United States presidential election of 1900 was a re-match of the 1896 race between Republican President William McKinley and his Democratic challenger, William Jennings Bryan. The return of economic prosperity and recent victory in the Spanish–American War helped McKinley to score a decisive...
, and is largely credited with Bryan's substantial victory in Missouri. One of his speeches, entitled, "Why I am a Democrat," made during a political canvass, was extensively copied by the press of the country.
Personal life
Stephens married Margaret Nelson on October 5, 1880. With his wife, Stephens was a member of the Methodist Episcopal Church. He contributed liberally to the Central College, of Fayette, which named the "Stephens Scientific Hall" in his honor. After his term as governor, he returned to the banking business. He died in St. Louis, and was interred in Walnut Grove CemeteryWalnut Grove Cemetery
Walnut Grove Cemetery is a historic cemetery at Grove and Railroads Streets in Methuen, Massachusetts. The still active cemetery sits on and is privately funded with a Board of Directors....
.
External links
Lawrence "Lon" Vest Stephens (December 21, 1858 – January 10, 1923) was a U.S. politician from Missouri
Missouri
Missouri is a US state located in the Midwestern United States, bordered by Iowa, Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas and Nebraska. With a 2010 population of 5,988,927, Missouri is the 18th most populous state in the nation and the fifth most populous in the Midwest. It...
. He served as State Treasurer of Missouri
State Treasurer of Missouri
The State Treasurer of Missouri is a statewide elected official responsible for serving as Missouri's chief financial officer. The current State Treasurer is Clint Zweifel.-Duties of the State Treasurer:...
from 1890 to 1897, and as the 29th Governor of Missouri from 1897 to 1901.
Early life and education
Stephens was born in Boonville, MissouriBoonville, Missouri
This page is about the city in Missouri. For other communities of the same name, see Boonville Boonville is a city in Cooper County, Missouri, USA. The population was 8,202 at the 2000 census. It is the county seat of Cooper County. The city was the site of a skirmish early in the American Civil...
to Joseph L. and Martha (Gibson) Stephens. His father was descended from Scotch ancestry, which founded families in Virginia and North Carolina in Colonial days, and his paternal grandparents came to Missouri from the "Old Dominion" at an early period, locating in Cooper County
Cooper County, Missouri
Cooper County is a county located in the U.S. state of Missouri. In 2010, the population was 17,601. Its county seat is Boonville. The county was organized in 1818 and is named for Sarshall Cooper, a frontier settler who was killed by Indians near Arrow Rock in 1814.-Geography:According to the 2000...
. Joseph Stephens, who was born there, became distinguished as a lawyer, financier and railroad builder
Stephens studied first in the public schools of Boonville, and then for three years at the Cooper Institute, and three years at the Kemper Family school
Kemper Military School
Kemper Military School & College was a private military school located in Boonville, Missouri. Kemper filed for bankruptcy and closed in 2002. The school's motto was "Nunquam Non Paratus" .-Early years under Frederick T. Kemper:...
of the same town. During the intervals of his student life acquired a knowledge of printing and telegraphy, besides working as a bank messenger, bookkeeper and teller. He studied for one year at Washington and Lee University
Washington and Lee University
Washington and Lee University is a private liberal arts college in Lexington, Virginia, United States.The classical school from which Washington and Lee descended was established in 1749 as Augusta Academy, about north of its present location. In 1776 it was renamed Liberty Hall in a burst of...
in Lexington, Virginia
Lexington, Virginia
Lexington is an independent city within the confines of Rockbridge County in the Commonwealth of Virginia. The population was 7,042 in 2010. Lexington is about 55 minutes east of the West Virginia border and is about 50 miles north of Roanoke, Virginia. It was first settled in 1777.It is home to...
, and there became interested in finance and economics. After completing his education traveled extensively in Europe.
Career
Returning home, Stephens entered the Central National Bank, of Boonville, management by his father, and became director, assistant cashier and vice president. During his connection with this institution he and his brother, W. Speed Stephens, funded the debts of various counties in central Missouri. Stephens was also involved in politics, acting as an aide-de-camp on the staff of Governor John Marmaduke. In 1887, at the age of twenty-nine, he was appointed by the comptroller of the currency as receiverReceivership
In law, receivership is the situation in which an institution or enterprise is being held by a receiver, a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights." The receivership remedy is an equitable remedy that emerged in...
of the Fifth National Bank, of St. Louis. Its affairs were convoluted, and experienced financiers doubted the ability of so young a man to master so difficult a task. He succeeded in closing up the affairs of the bank in a brief time, the depositors receiving 96 per cent upon their accounts, when only 33 1–3 per cent was expected, and the achievement at once gave him high standing in financial circles.
Stephens thereafter was paymaster-general on the staff of Governor David R. Francis
David R. Francis
David Rowland Francis was an American politician. He served in various positions including Mayor of Saint Louis, the 27th Governor of Missouri, and United States Secretary of the Interior. He was the U.S. Ambassador to Russia between 1916 and 1917, during the Russian Revolution of 1917...
. His success with the Fifth National Bank contributed materially to his appointment, in March, 1890, by Governor Francis, to the position of State treasurer, to fill the unexpired term of Edward T. Noland
Edward T. Noland
Edward T. Noland was an American politician. He served as the State Treasurer of Missouri from 1889 to 1890. -References:...
. The affairs of the treasury were in poor condition, and the credit of the State was imperiled. The appointment of Stephens met with general approval, and the state's finances were within two years re-established upon a sound basis
In 1892 the Democratic State convention nominated him to the position on the first ballot, and he won the general election by a plurality of more than 40,000 votes. During the four years following, the free silver question became the dominant issue in politics. Although he remained an officer in a national bank during the campaigns of 1894–6, Stephens took up the cause of bimetallism
Bimetallism
In economics, bimetallism is a monetary standard in which the value of the monetary unit is defined as equivalent both to a certain quantity of gold and to a certain quantity of silver; such a system establishes a fixed rate of exchange between the two metals...
, contributing both money and time to the support of the silver standard. For over two years he contributed to the Boonville Advertiser a series of weekly articles upon the subject, under the caption, "Silver Nuggets", which were republished in many of the Democratic papers of the State, and in pamphlet form, and distributed, under the direction of the State Democratic central committee.
Governor
In the 1895, Stephens was nominated for governor by acclamation, the first time that Missouri Democrats had done so. In the general election, he received a plurality of nearly 44,000 votes, running 10,000 votes ahead of the State ticket. As Governor, he was an outspoken supporter of the Free SilverFree Silver
Free Silver was an important United States political policy issue in the late 19th century and early 20th century. Its advocates were in favor of an inflationary monetary policy using the "free coinage of silver" as opposed to the less inflationary Gold Standard; its supporters were called...
movement, and he supported the state university and other State schools, as well as the penal and eleemosynary institutions. Under his administration, the State penitentiary was made not only self-sustaining, but a source of revenue to the State. The three existing insane asylums being filled to capacity, he supported bills establishing a new asylum in the southwest, and a colony for the feebleminded. He successfully pushed for legislation providing for a State fair to be held under the auspices of the State Board of Agriculture, and laid the groundwork for Missouri to host the 1904 Louisiana Purchase Exposition
Louisiana Purchase Exposition
The Louisiana Purchase Exposition, informally known as the Saint Louis World's Fair, was an international exposition held in St. Louis, Missouri, United States in 1904.- Background :...
.
Stephens also strongly supported progressive taxation, arguing to increase the taxation of wealthy corporations in proportion to their real value, in order that to reduce the burden on farmers and small property holders. During the two sessions of the Thirty-ninth and Fortieth General Assemblies, he advocated the passage of laws taxing franchises, and upon learning that his efforts might prove unavailing, he transmitted a special message upon the subject. He was also instrumental in the passage of laws to check trusts in their encroachments upon smaller industries. He devoted much of his political energy to the support of William Jennings Bryan
William Jennings Bryan
William Jennings Bryan was an American politician in the late-19th and early-20th centuries. He was a dominant force in the liberal wing of the Democratic Party, standing three times as its candidate for President of the United States...
in the 1900 presidential election
United States presidential election, 1900
The United States presidential election of 1900 was a re-match of the 1896 race between Republican President William McKinley and his Democratic challenger, William Jennings Bryan. The return of economic prosperity and recent victory in the Spanish–American War helped McKinley to score a decisive...
, and is largely credited with Bryan's substantial victory in Missouri. One of his speeches, entitled, "Why I am a Democrat," made during a political canvass, was extensively copied by the press of the country.
Personal life
Stephens married Margaret Nelson on October 5, 1880. With his wife, Stephens was a member of the Methodist Episcopal Church. He contributed liberally to the Central College, of Fayette, which named the "Stephens Scientific Hall" in his honor. After his term as governor, he returned to the banking business. He died in St. Louis, and was interred in Walnut Grove CemeteryWalnut Grove Cemetery
Walnut Grove Cemetery is a historic cemetery at Grove and Railroads Streets in Methuen, Massachusetts. The still active cemetery sits on and is privately funded with a Board of Directors....
.