David F. Houston

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Portrait of DF Houston in the Treasury Department

David Franklin Houston (born February 17, 1866 in Monroe , North Carolina , † September 2, 1940 in New York City ) was an American businessman, Democratic politician, Secretary of Agriculture and Treasury Secretary .

family

Houston was the son of the farmer and horse dealer William Henry Houston and his wife Cornelia Anne Stevens. In 1895 he married Helen Beall, with whom he had five children.

Studies and professional career as a university professor

After attending school, he first studied at the University of South Carolina , which he graduated in 1887 with a Bachelor of Arts (BA) . He then completed a degree in political science and economics at Harvard University , which he completed in 1892 with a Master of Arts in Political Science (MA Pol. Sc.) .

After graduation, he became an associate professor of political science at the University of Texas in 1894 . In 1896 he published "A Critical Study of Nullification in South Carolina" . In 1899 he was appointed dean of the political science faculty . During this time he was also visiting professor at the United States Military Academy at West Point, New York .

From 1902 to 1905 he was President of the Agricultural and Mechanical College of Texas . In 1905 he returned to the University of Texas as President. During his tenure there, which lasted until 1908, the university opened a doctoral program and a faculty of law (Law School).

In 1908 he was appointed to succeed Marshall Snow as President (Chancellor) of Washington University in St. Louis . In this position he worked until 1913 and at that time not only founded a faculty of architecture (School of Architecture) , but also strengthened the medical faculty through partnerships with hospitals. During this time he also met the then governor of New Jersey , Woodrow Wilson .

He later served on the board of directors of Harvard University and the Board of Trustees of Columbia University .

Political career

Agriculture Secretary under Wilson

After Woodrow Wilson was elected President of the United States , he was appointed Secretary of Agriculture on March 6, 1913 . He held this office until February 2, 1920. Several significant laws were passed by Congress during his tenure .

Finance Minister and withdrawal from political life

On February 2, 1920, he was appointed Secretary of the Treasury to succeed Carter Glass . He was succeeded as Minister of Agriculture by Edwin Meredith .

As Treasury Secretary, after the end of the First World War , he faced stormy disputes over the monetary policy of the US government. As the ex officio chairman of the Federal Reserve System , he had to issue warnings about the financial situation on several occasions. He himself used increases in the rediscount rate to reduce inflation . After optimism had faded after the end of the war, he predicted a decline, especially in prices for agricultural goods. That is why he advocated easier and cheaper loans for farmers , but on the other hand urged them to produce less.

However, when prices fell much more dramatically than expected in 1920, farmer spokesmen accused Houston of destroying farmers' prosperity. In addition, England and France urged them to cancel their war debts. Houston, President Wilson, and Congress, while opposed to debt relief, granted conversion to long-term credit.

After the end of Woodrow Wilson's presidency on March 4, 1921, Houston withdrew from political life and then switched to business.

In business, he was vice president of AT&T and director of US Steel . He also published a two-volume edition of his memoirs entitled "Eight Years with Wilson's Cabinet" .

In May 1925 he was a member of the US delegation of a commission to prepare an economic conference of the League of Nations in September 1925 in Geneva .

Publications

  • "A Critical Study of Nullification in South Carolina," 1896
  • "Soldiers of the Soil: Our Food Crops Must Be Greatly Increased," in: National Geographic Magazine , March 1917
  • "Eight Years with Wilson's Cabinet" , (memoir)

Web links and background literature

Commons : David F. Houston  - Collection of Images, Videos and Audio Files

Individual evidence

  1. ↑ Lewis L. Gould: Houston, David Franklin ; in: American National Biography Online.
personal data
SURNAME Houston, David F.
ALTERNATIVE NAMES Houston, David Franklin
BRIEF DESCRIPTION American politician
DATE OF BIRTH February 17, 1866
PLACE OF BIRTH Monroe , North Carolina
DATE OF DEATH September 2, 1940
Place of death New York City