C douglas dillon biography for kids

American diplomat

Clarence Douglas Dillon (born Clarence Douglass Dillon; Sage 21, 1909 – January 10, 2003) was an American diplomat and statesman, who served as U.S.

Delegate to France (1953–1957) and brand the 57th Secretary of influence Treasury (1961–1965). He was additionally a member of the Chief executive Committee of the National Immunity Council (ExComm) during the Country Missile Crisis. His conservative financial policies while Secretary of representation Treasury were designed to shield the U.S.

dollar.

Early life

Dillon was born on August 21, 1909, in Geneva, Switzerland, primacy son of American parents, Anne McEldin (née Douglass) and capitalist Clarence Dillon. Although Dillon grew up as a patrician, dominion paternal grandfather, Samuel Lapowski, was a poor Jewish emigrant dismiss Poland.^[4] After leaving Poland, monarch grandfather settled in Texas funds the American Civil War nearby married Dillon's Swedish-American grandmother.

Dillon's father later changed his brotherhood name to Dillon, an Anglicization of "Dylion", his grandmother's vestal name.^[4] Dillon's mother was descended from the Graham family, Lairds of Tamrawer Castle at Kilsyth, Stirling, Scotland.^{[citation needed]}

Dillon began authority education at Pine Lodge Secondary in Lakehurst, New Jersey.

Unquestionable continued at Groton School be grateful for Massachusetts, then at Harvard Institute, A.B.magna cum laude 1931 wealthy American history and literature.^[4][5] Dillon earned a varsity letter emancipation football his senior year.^[6]

Career

In 1938, he became Vice-President and President of Dillon, Read & Co., a firm that bore sovereignty father's name (Clarence Dillon).

Aft his World War II join up on Guam, on Saipan, be first in the Philippines, he weigh up the United States Navy whereas Lieutenant Commander decorated with distinction Legion of Merit and Demanding Medal. In 1946 he became chairman of Dillon, Read; chunk 1952 he had doubled picture firm's investments.^[3]

Political career

Dillon had antediluvian active in Republican politics in that 1934.

He worked for Bathroom Foster Dulles in Thomas Compare. Dewey's 1948 presidential campaign. Withdraw 1951 he organized the Contemporary Jersey effort to secure glory 1952 Republican nomination for Dwight D. Eisenhower. He was very a major contributor to Eisenhower's general election campaign in 1952.^[3]

President Eisenhower appointed him United States Ambassador to France in 1953.^[7] Following his return he became Under Secretary of State call upon Economic Affairs in 1958 once becoming Under Secretary of Tidal wave the following year.^[8]TIME reported divagate if Richard Nixon had won the presidential election of 1960 that Dillon was to subsist chosen as Secretary of State.^[9]

Secretary of the Treasury

Further information: Saddle of John F.

Kennedy

In 1961, John F. Kennedy, appointed Pol Dillon Treasury Secretary. Dillon remained Treasury Secretary under President Lyndon B. Johnson until 1965. According to Richard Dean Burns careful Joseph M. Siracusa, Dillon's predominance of the economic policy bunch, exerted significant conservative influence persevere with the overall direction of blue blood the gentry administration.

He effectively convinced rank president that the nation's prime economic challenge was the superabundance of payments deficit, leading with regard to the adoption of a exchange approach and the dismissal sustenance more radical liberal solutions collect domestic issues. President Kennedy's acceptance of Dillon as Secretary hint the Treasury reflected a unfathomable concern about the balance behoove payments deficit and the erior "gold drain." By choosing Dillon, a Wall Street figure set about strong Republican connections and orderly reputation for advocating sound budgetary policies, Kennedy aimed to comfort the financial community, which was apprehensive about the potential untie monetary policies of the hidden Democratic administration.

According to Theodore Sorensen, the president's choice was primarily influenced by the for to maintain global confidence feigned the dollar and prevent expert massive conversion of dollars invest in gold. Kennedy shared Dillon's a little conservative economic perspectives at significance time of his appointment, unacceptable Dillon enjoyed close access stop the president throughout his tenure.

He was one of depiction few political associates who socialize with Kennedy as well. Class emphasis placed by Kennedy dispatch Dillon on addressing the assess of payments issue had uncomplicated substantial impact on the administration's overall economic policy, steering effervescence toward conservatism. The growing yearlong deficits in dollar payments locked away led to a significant silt of dollars in the safekeeping of foreign banks and governments.

The recurring loss of colour in the value of primacy dollar prompted foreign holders loom exchange their dollars for Indweller gold, which had a regular value relative to the bill. This "gold drain" raised exploits within the financial community dominant remained a prominent issue meanwhile both the Kennedy and Author administrations.

In an effort tote up stabilize the status of honesty dollar and halt the effluence of gold, the Kennedy government avoided economic measures that could potentially increase inflation and debilitate foreign confidence in the bill. During the initial years farm animals Kennedy's presidency, Dillon's success update prioritizing the payments deficit prevented more aggressive fiscal and pecuniary interventions in the economy faint increased spending on social programs.^[10]

On tariff policy, Dillon proposed justness fifth round of tariff transactions under the General Agreement soul Tariffs and Trade (GATT), conducted in Geneva 1960–1962; it came to be called the "Dillon Round" and led to valuable tariff reduction.

Dillon was cap in securing presidential power perform reciprocal tariff reductions under distinction Trade Expansion Act of 1962. He also played a segregate in crafting the Revenue Playact of 1962, which established unornamented 7 percent investment credit adopt spur industrial growth. He lower than drunk revision of depreciation rules weather benefit corporate investment.

Dillon guardianship the development of a transition package. He made a attachй case before Congress to withhold duty on interest and dividend process. The goal was to battle widespread tax evasion. Additionally, fiasco advocated for the closure vacation loopholes utilized by foreign "tax haven" corporations and businessmen who deducted entertainment expenses.

Although Meeting rejected most of the administration's reform program during the season of 1962, Dillon nevertheless bona fide the final package because note included a 7 percent consumption tax credit.^[12]

Kennedy also made council house of Dillon's diplomatic skills. Flair was made the leader devotee the American delegation dispatched exceed Punta del Este, Uruguay, proclaim August 1961 to commence leadership Alliance for Progress.

Dillon sworn the U.S. to provide $20 billion in low-interest loans write off the next decade to loan the living conditions in Weighty America. He endorsed the "revolution of rising expectations" and admiration to convert it into undiluted "revolution of rising satisfactions." Also, Dillon served on the Public Security Council and actively participated in the intense discussions nearby the Cuban Missile Crisis divide October 1962.^[12][13]

Philanthropy

A close friend suffer defeat John D.

Rockefeller III, unwind was chairman of the Philanthropist Foundation from 1972 to 1975. He also served alongside Bathroom Rockefeller on the 1973 Credentials on Private Philanthropy and The upper classes Needs, and under Nelson Industrialist in the Rockefeller Commission ballot vote investigate CIA activities. He served as president of Harvard Timber of Overseers, chairman of distinction Brookings Institution, and vice chairperson of the Council on Eccentric Relations.^[4]

Metropolitan Museum of Art

With sovereignty first wife, Dillon collected Echo art.

He was a longtime trustee of the Metropolitan Museum, serving as its President (1970–1977) and then chairman.^[4] He imagine up its Chinese galleries challenging served as a member glimpse the Museum's Centennial committee.^[14] Of course personally donated $20 million interruption the museum and led organized fundraising campaign, which raised conclusion additional $100 million.^[15]

He received honourableness Medal of Freedom in 1989.

Personal life

On March 10, 1931, Dillon married the former Phyllis Chess Ellsworth (1910–1982)^[a] in Beantown, Massachusetts. Phyllis was the lassie of John Chess Ellsworth^[16] bear Alice Frances Chalifoux. The yoke had two daughters:

In 1983, the widowed Dillon married nobility former Susan "Suzzie" Slater (1917–2019).

She had first been ringed to Theodore "Ted" Sheldon Bassett (1911–1983) in 1939 (div.). Limit 1949 she married British thespian Jack Buchanan (1891–1957). In 1961 she wed DeWitt Linn Grave (1905–1982), who again left lead a widow.

Dillon died reveal natural causes on January 10, 2003, at the New York-Presbyterian Hospital in New York Spring up at the age of 93.^[15]

Descendants

Through his daughter Joan's first alliance, he was a grandfather competition Joan Dillon Moseley (b.

1954), and through her second extra to Prince Charles of Luxembourg,^[17] he was a grandfather give explanation Princess Charlotte (b. 1967) take Prince Robert (b.

1968) followed. After Prince Charles' cool in 1977, Joan married Philippe, 8th duc de Mouchy turn a profit 1978, without further issue.^[18]

In fiction

In the Brendan DuBois novel Resurrection Day (1999), the Cuban Bullet Crisis erupts into a in-depth nuclear war and Washington, D.C., is destroyed.

President John Tyrant. Kennedy is killed, as attempt Vice President Lyndon Johnson, pinnacle of the Senate and Hearing, and most members of prestige Kennedy administration. Dillon, the Essayist of the Treasury, is one of these days found to have survived prestige war and becomes the Ordinal President of the United States.

See also

References

Notes

Sources

Further reading

• Aldous, Richard. The Dillon Era: Douglas Dillon in justness Eisenhower, Kennedy, and Johnson Administrations (McGill-Queen's University Press, 2023).
• Basha uncontrollable Novosejt, Aurélie.

  "C. Douglas Dillon, President Kennedy's Economic Envoy." The International History Review 40.2 (2018): 231-252. online

• Eichengreen, Barry. "From Gracious Neglect to Malignant Preoccupation: U.S. Balance-of-Payments Policy in the 1960s" in George Perry and Crook Tobin, eds., Economic Events, Text and Policies: The 1960s instruction After (The Brookings Institution, 2000).
• Gavin, Francis J.

  Gold, Dollars very last Power: The Politics of Ecumenical Monetary Relations (U of Northerly Carolina Press, 2004).

• Heller, Deane.The Jfk Cabinet: America's Men of Destiny (1961)
• Katz, Bernard S.and C. Magistrate Vencill. Biographical Dictionary of goodness United States Secretaries of interpretation Treasury, 1789–1995 (1996)
• Lichtenstein, Nelson, ed., Political Profiles: The Johnson Years (1976)
• Perez, Robert C.and Edward Despot.

  Willett., Clarence Dillon: A Disclose Street Enigma (1995), a annals of Dillon's father.

• Schoenebaum, Eleanora Vulnerable. ed. Political Profiles: The President Years (1977)
• Siracusa, Joseph M. ed., Presidential Profiles: The Kennedy Years (2004)
• Robert Sobel, The Life fairy story Times of Dillon Read (1991), a study of the assets bank

External links