 They asked Dawes to manage the Illinois portion of William McKinley's bid for the Presidency of the United States in 1896.Following McKinley's election, Dawes was rewarded for his efforts by being 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 also changed banking practices to try to prevent a similar event in the future.