Holmes was born in Vermilion County, Illinois on June 7, 1846 and entered service at Indianapolis, Indiana. He was awarded the Medal of Honor, for extraordinary heroism shown on April 6, 1865 at the Battle of Sailor's Creek, while serving as a Private with Company A, 3rd Regiment Indiana Cavalry. He won his medal for capturing the flag of the 27th Virginia Infantry Regiment. His Medal of Honor was issued on May 3, 1865.