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In page Charles G. Dawes:

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Dawes's prominent positions in business caught the attention of Republican party leaders. They asked Dawes to manage the Illinois portion of William McKinley's bid for the Presidency of the United States in 1896.[1] Following McKinley's election, Dawes was named Comptroller of the Currency, United States Department of the Treasury. Serving in that position from 1898 to 1901, he collected more than $25 million from banks that had failed during the Panic of 1893 and changed banking practices to try to prevent another panic.[citation needed]